Vietnam’s E-Learning Market Could Hit $3 Billion In Revenue By 2023
 
Apr 20, 2022
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The educational technology (edtech) or e-learning market in Vietnam is expected to reach revenue of around $3 billion by 2023 on the back of a high potential of new digital learning forms in the country in response to the Covid-19 pandemic and growing interest from investors.

The sector has had a compound annual growth rate of 20.2 per cent since 2019, the Vietnam News Agency quoted from a report by Indian market intelligence firm Ken Research. Globally, Vietnam is listed in the top 10 fastest growing edtech markets, according to the Vietnam Edtech Report 2021.

Vietnam experienced with new educational and training processes as the Covid-19 pandemic forced the closedown of schools, universities and colleges. In 2021, the country moved from a “pandemic response education” status to “pandemic adaption education” amid the developments of Covid-19 and this year will seek to pioneer technology as the demand for digital learning platforms keeps increasing.

“Open innovation” for digital learning

Pham Hong Quat, director of the department of market development and science and technology enterprises in Vietnam’s Ministry of Science and Technology, noted that the country should boost “open innovation” to attract more resources to the startup innovation ecosystem in general and the edtech field in particular. He also hoped that universities would focus on implementing cooperation agreements with foreign universities in the sector.

At the end of 2021, the ministry installed Internet connections to facilitate online learning at 1,000 educational institutions, and installations at the remaining targeted facilities were completed in January this year. With regards to pupils and students, just around eight million households currently have yet to gain access to fiber-optic cable Internet services, and such connections should be available for all households in Vietnam before 2025.

Free computers, lower tuition fees

Another pilot programme has handed over more than 100,000 computers to help students learn online while reducing online learning tuition fees for some student groups. So far, Vietnam has developed six online learning platforms, which are being used by about ten million students.

The efforts are part of Vietnam’s national digital transformation programme launched in 2020 which prioritises digitising education and training. Under the strategy, the government aims to use technology “to help deliver better quality services, support efficient decision-making, formulate better policies, optimise resources and aid socio-economic development,” the ministry said.