The online education market in Vietnam is projected to generate revenues of $364.70 million by 2024. The Online Learning Platform sector alone is estimated to be valued at $228.70 million in 2024. The average revenue per user (ARPU) in the online education market is expected to be around $42.69 in 2024, with the number of users anticipated to reach 11.8 million by 2029.
Nearly 70 investment funds are currently operating in Vietnam, excluding foreign investment funds. In 2023, approximately $200 million was invested in EdTech startups, including EQuest, Elsa, Vuihoc, Teky, MindX, and others.
Approximately 750 EdTech companies are active in Vietnam, offering various hardware, software, and services. State-owned enterprises are also participating in the K-12 learning platform and management system segment, including Viettel, VNPT, and Mobifone, with their respective platforms.
Vietnamese EdTech products are spread across various segments, primarily on language learning and K-12 education. STEM education implemented approximately 88,529 STEM lessons during the 2021-2022 and 2022-2023 academic years, starting from elementary schools.
The year 2023 witnessed the entry of several foreign EdTech products into the Vietnamese market, such as IELTS Science and Global Exam. Hardware and IoT products for developing smart school models are supplied by renowned foreign companies, including SAMSUNG and VIEWSONIC.
Infrastructure and internet solutions also gained attention in 2023, highlighting the need for cloud storage to ensure data safety. Cloud service providers include domestic and international companies such as Viettel, FPT, VDC, VNPT, and AWS.
(Excerpt from the Vietnam EdTech White Paper 2024)
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Stay tuned for the 2024 Vietnam EdTech White Paper & Ranking.
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