Edutainment Market Overview
According to Market Research Future (MRFR), the global Edutainment Market is projected to cross USD 17.69 Billion at a CAGR of 11.61% from 2022 to 2030 (forecast period). The research report explains and discusses the impact of the COVID-19 outbreak on the global market, including opportunities and challenges, drivers, and risks.
Edutainment, a blend of education and entertainment, refers to software and technology that incorporates entertainment and education. These technologies and products make education more appealing to students. This technology is available in a number of ways. Educational centers such as science exhibitions, botanical gardens, aquariums, and children's museums provide both education and entertainment.
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Edutainment Market Dynamics
Developing trends in the industry in terms of time related to learning while entertainment and the introduction of new technology are key factors likely to fuel the growth of the global edutainment market. In addition, many leading players are developing different online gaming that is more appealing and interesting for children and younger generations, and growing investments by key players to improve consumer experience and broaden their product range are other factors that are expected to propel the growth of the global edutainment market.
In addition, technological advancements like virtual reality technology and the availability of enhanced versions in the field of education are expected to augment the growth of the global edutainment industry. In addition, the growing adoption of advanced technologies such as attractive digital surface and 3-D animation to build modern advanced gaming technology to provide enhanced gaming experience are additional factors likely to fuel the growth of the global edutainment industry. The growing use of video streaming, mobile apps, and social media is anticipated to augment target market growth.
Futhermore, increasing merger and collaboration activities between various advanced technology providers and the development of edutainment centers, like artificial intelligence, mixed reality, and the Internet of Things, are expected to augment the growth of the global edutainment industry.
However, a lack of knowledge on edutainment, particularly in developing countries, is expected to hinder the growth of the global edutainment market to some extent.
Edutainment Market Segmentation
The global edutainment market has been segmented into service type, revenue source, and end-user.
Based on service type, the global edutainment market has been segmented into non-interactive/spectator service and interactive/participatory service. Non-Interactive/Spectator Service is a small segment within this market. Non-interactive edutainment is typically restricted to niche topics with low demand. Rather than serving as an in-depth educational tool for these topics, non-interactive edutainment acts as an additional study guide. Interactive/Participatory Service is the larger segment within this market. Interactive education is preferred because of its improved educational properties, broader knowledge base, and secondary quality of improving social skills, particularly for individuals in their training years.
Based on revenue source, the global edutainment market has been segmented into advertising, ticket fees, and partnership. Advertising is the largest segment serving as the principal revenue source for most edutainment services. Ticket fees are charged by some dedicated edutainment apps and resources that intend to focus on the source matter without regard for the concessions that must be undertaken for an advertising-based revenue model. Realizing the advantages of edutainment, many colleges, universities, and other educational institutions are partnering with edutainment companies. This ensures an excellent hybridization where the edutainment company receives official recognition due to its tie-ups. Simultaneously, the educational institutions are provided with an excellent tool to improve their knowledge-based capabilities.
Based on the revenue source, the global edutainment market has been segmented into individuals, schools, and universities. Individuals make a major contribution to the edutainment video game industry as video games are purchased individually. Schools are constantly partnering with edutainment companies to provide useful tools and apps for their students to learn.
Regional Analysis
Region-wise, the global edutainment market has been segmented into North America, Asia Pacific, Europe, South America, and the Middle East Africa.
In North America, edutainment has a strong presence. This region is responsible for several games and shows developed especially for their educational value.
Accepting the concept of edutainment in its entirety, Europe is an excellent market for all forms of edutainment services, with various partnerships with public and private schools as well as various universities.
The Asia Pacific has the largest number of smart device users and a very large pre-adult population, driving the region's market. The emergence of multiple edutainment companies and a very strong rivalry in education are further contributing to the growth of the industry.
The Middle East Africa has a lot of market potential due to the very large percentage of young people and the rapid proliferation of smart devices.
The South American market is small, but offers an enormous advantage due to the use of Spanish in most of its constituent countries, making it simple to design apps and games.
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Key Players
Brightcove Inc., Tata Sons Private Limited, LEGOLAND Discovery Center, KNeoMedia Limited, KidZania Operations S.A.R.L., Kramer Electronics, Kaltura, Inc., Kidz Holding S.A.L., Reliance Jio Infocomm Limited, AEL Data Services LLP, Meraas, d'Vinci Interactive, Inc., zSpace, Inc, Time4Learning, Inc.
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