The Prospects of Education Technology in Bangladesh

Abstract

Education technology is the updated version of education by combining education with the IT tools. Students can do classes in online from the any corner of the world. Globally millions of people are doing different courses from the different Ed-tech companies around the world. In Bangladesh Ed-tech was started many years ago but during 2019 the Ed-tech industry of Bangladesh had boomed. Many Ed-tech startups founded during pandemic and now they are growing. The global market of Ed-tech industry is expected to grow with the rate of 16.5% annually from 2022 to 2030. The global market size will be USD 429.5 billion by 2030. The market size of Ed-tech industry of Bangladesh is expected to reach around USD 700 million by 2025. This is a great opportunity to grow the industry globally by the Bangladeshi Ed-tech companies. In this report, prospects of Ed-tech industry of Bangladesh are analyzed by using SWOT analysis, Porter’s Five Forces model, Customer Acquisition and Retention model. By doing SWOT analysis the strengths, weaknesses, opportunities and threats was identified and the information was used in Porter’s Five Forces model to do in depth analysis to find out the growing probability of Ed-tech Industry of Bangladesh. By using customer acquisition and retention model, the whole marketing process was discussed. In the result of the discussion, it was founded that Bangladeshi Ed-tech companies are able to gather new customers, give them good customer value and experience, retain existing customers, build brand loyalty, make more customers through their existing customers. Ed-tech companies of Bangladesh are working on their weaknesses and threats, trying to maintain their strengths and trying to grab new opportunities. Overall, it can be said that the Ed-tech industry of Bangladesh is growing rapidly and the future prospects are bright.