The education sector transformed overnight during the pandemic, forcing rapid adaptation that led to exponential growth in the global EdTech industry. From a niche market in 2010, the industry raised approximately US $500 million, surging to US $16.1 billion in 2021.
Forecasts indicate continuous growth with an annual rate of 15.5% from 2022 to 2030. By 2025, the market is expected to be worth $404 billion. As of July 29, 2022, there are 36 EdTech unicorns worldwide.
The Canadian EdTech industry has experienced remarkable growth and transformation, with total revenues reaching CA $2.31 billion in 2023. The pre-K-12 and K-12 segments continue to dominate the market, accounting for 57.9% of the total market value.
CA $7.4 billion expected in 2024 for online university education
9.9 million users expected by 2029
Pre-K-12 and K-12 segments account for 57.9% of market
Several futuristic trends continue to shape the future of EdTech in Canada, driven by evolving societal needs and technological advancements.
Ontario is emerging as an ideal destination for EdTech startups. In 2020, the provincial government announced a historic investment of CA $50 million in virtual learning and educational technologies, demonstrating its dedication to expanding access to high-quality, globally competitive education.
The Virtual Learning Strategy positions Ontario as a global leader and testbed for digital innovation in EdTech, fostering a supportive environment for startups to thrive.
Ontario's dedication to increasing the quality and availability of virtual learning efforts highlights its commitment to advancing the Intellectual Property Action Plan. This creates a conducive environment for EdTech startups to innovate and create transformative educational technologies.
There is also a major strategic advantage in Ontario because of the ability to develop high-quality solutions in both English and French, opening doors to broader market opportunities across Canada and internationally.
Prime location for B2C and B2B EdTech ventures with access to substantial student populations and educational institutions. Large school districts and diverse student populations.
Thriving business landscape offering opportunities for EdTech companies providing tailored corporate training solutions and innovative educational technologies with university partnerships.
Emerging market recognized nationally as a test market city, offering ideal environment for developing and launching new tech products. Ranked #10 on CBRE's tech hubs.
Startups looking to build EdTech products and services in Ontario benefit from the province's endless supply of high-quality tech talent. Ontario is North America's second-largest tech cluster; 48% of Canada's IT professionals reside here.
The Toronto-Waterloo corridor has an impressive tech ecosystem with 16 universities and colleges, 15,000 tech companies, and 5,200 startups. The abundance of tech workers in this region is nearly equivalent to that of New York City.
• 48% of Canada's IT professionals reside in Ontario
• 16 universities and colleges in Toronto-Waterloo corridor
• 15,000 tech companies in the ecosystem
• 5,200 startups driving innovation
Canada's trade agreements cover markets valued at over US $50 trillion with 1.7 billion consumers. Canada has free trade agreements with the largest manufacturing markets in the world: the United States (USMCA), the European Union (CETA) and Asia-Pacific (CPTPP).
Your business can access 187 million consumers within a day's drive of the Greater Toronto Area, with world-class educational infrastructure and international connectivity.