Spending on education expected to reach $10 trillion by 2030, as startups eye new opportunities
As the adoption of digital technologies continues to accelerate across the globe, the EdTech industry is bound to leave an important mark on economies.
From the need for reskilling to the evolution of higher education, technology is changing and enhancing the educational sector worldwide.
According to a recent report, the next 10 years will see 800 million K-12 graduates and 350 million post-secondary-school graduates globally, and expenditure on education around the world is set to hit $10 trillion by 2030.
In this growing global economy, Edtech in particular is set to play a critical role.
The growth in numbers in this industry also reflects this. Hypothesis, a leader in social annotations that works with companies operating in education, announced this week its the 2024 End of Year Impact Report showcasing its major achievements and growth during the year.
The organization celebrates a 22% increase in annotations, a 12% rise in student users, and a 27% growth in courses utilizing the Hypothesis tool. This includes millions more student annotations compared to 2023, demonstrating the power of collaboration and active engagement in learning.
The data from partner institutions showcase tangible results, as well as inspiring stories of engagement, community building, improved academic performance, deeper thinking, and transformative classroom experiences.
In 2024, Hypothesis built meaningful connections through collaboration and increased engagement. In bringing instructors and students together, the company created an interactive learning experience. These results at partner institutions included a 1400-2100% increase in RSI at the University of Alaska Fairbanks, in addition to 95% of students found social annotation useful in the classroom at Allan Hancock College, and over 1,300 annotations were created over YouTube assignments at Chabot College.
Students experienced a boost in grades and academic performance because of Hypothesis. Because social annotation supports better comprehension of course material, it plays a direct role in reducing failure rates. Said Jennifer Young of UAF: “Only two students failed the Income Tax course this spring, which is unheard of.”
The technology company fosters deeper analysis of course content, thoughtful discussions, and critical thinking across various disciplines.
According to Joe Ferraro, CEO of Hypothesis, “The stories coming from our partner institutions are incredible—reductions in failure rates, improved grades, and more engaged classrooms. It’s proof that when we invest in tools like Hypothesis, we’re investing in student success.”
