Vietnam's EdTech sector is surging ahead

"Vietnam's EdTech sector is surging ahead, expected to reach USD364.7 million in 2024, with a CAGR of 13.5% leading to 2032.

Vietnam's EdTech market is expected to reach USD364.7 million in 2024, with a CAGR of 13.5% through 2032. The Online Learning Platform segment is projected to see a market volume of USD228.7 million in 2024. This vibrancy is continued in the Online Education market with average revenue per user expected to be USD42.7 💰

1️⃣ TRENDS, OPPORTUNITIES, AND MARKET POTENTIAL

Vietnam's EdTech sector is flourishing within the global market, with over USD400 million in investments from 70 investors and the majority of funding in the language learning space. This investment momentum aligns with trends in AI adoption, foreign capital influx, and educational diversification. A focused development on digital platforms indicates strong potential, especially in areas such as language learning, K-12, and vocational training, aiming to enhance the core curriculum, as well as develop a digitally proficient workforce.

2️⃣ DEMOGRAPHICS, PENETRATION, AND THE ONLINE SHIFT

Vietnam's online education market is expected to grow to 11.8 million users by 2029, with a user penetration of 8.6% in 2024, indicating a growing trend towards virtual learning platforms, where digital classrooms complement the traditional, echoing the changing rhythms of Vietnamese education.

3️⃣ GOVERNMENT INITIATIVES, INFRASTRUCTURE, AND STRATEGIC VISION

The Vietnamese government, allocating 15.5% of its total state budget to education, aligns with global standards, comparing favorably to countries like the US (13.0%), Indonesia (17.5%), and Singapore (19.9%). This investment underlines Vietnam's strategic focus on education for sustainable development, emphasizing the goal to extend online training coverage to 90% for higher education and 80% for vocational training by 2030. Such targets reflect the country's commitment to enhancing digital literacy and fostering startup ecosystem growth through EdTech innovations.

Heading into 2024, Vietnam's EdTech sector is on an accelerated path of growth, highlighted by government investments and a strategic focus on digital literacy, the nation is rapidly emerging as a key player in Southeast Asia's EdTech landscape."

Author

AiUTOMATING PEOPLE, ABN ASIA was founded by people with deep roots in academia, with work experience in the US, Holland, Hungary, Japan, South Korea, Singapore, and Vietnam. ABN Asia is where academia and technology meet opportunity. With our cutting-edge solutions and competent software development services, we're helping businesses level up and take on the global scene. Our commitment: Faster. Better. More reliable. In most cases: Cheaper as well.

Feel free to reach out to us whenever you require IT services, digital consulting, off-the-shelf software solutions, or if you'd like to send us requests for proposals (RFPs). You can contact us at [email protected]. We're ready to assist you with all your technology needs.

© ABN ASIA