The Australian Government recently released Vietnam EdTech Scoping Study, Summary Report highlighting the opportunity the Vietnamese education and technology market offers Australian businesses seeking international expansion.
To discuss the report in detail and the potential opportunity for Australian businesses, Austrade are hosting two webinars on Wednesday 8th April 2020; one focussed on Early Childhood Education and School sector and one on Higher Education and VET (details & links below).
Key points
- Austrade releases Vietnam EdTech Scoping Study Report
- Economic growth has transitioned Vietnam
- Aspirations to transform workforce & education systems
- Large student population
- e-learning & EdTech growing rapidly
- Partnership opportunities
- Austrade Webinars 8 April 2020
Context
Vietnam successfully transitioned from being one of the poorest countries in the world to a lower middle income country in 2010. Economic growth has since continued to grow on average at 6% GDP annually, with 6.8% growth in 2019 and an annual per capita income of US$23,432.
Aspirations
- A workforce of graduates and employees that employers believe in, and invest time and resources in, as part of a high-performing skills development system.
- An education system that offers programs for life-long learning and inclusive access to TVET and tertiary education, irrespective of household income.
Demographics
Vietnam currently has a population of 97 million – 70% are under the age of 35 years, of which, 16 million students are at primary and secondary levels and 1.7 million students are enrolled at university.
Vietnam has a booming digital economy with ICT one of the fastest growing sectors. It has a high internet penetration rate and a significant number of digital consumers, with more than 70% of the population owning a smartphone and spending seven hours online daily, on average.
Current EdTech Focus
Current EdTech companies in Vietnam focus on three key products and services: digital content provision targeting learners of various age groups; LMS; and integrating advanced technology such as Augmented Reality, Virtual Reality, and AI.
Evolution of EdTech in Vietnam
E-learning was first introduced in Vietnam in 2007, it evolved and adapted to mobile devices in 2013-2014, with further evolution from 2015-2019 where Massive Open Online Course (MOOC) providers have developed rapidly and started growing as a new market segment.
The EdTech market is expected to continue growing quickly along with consumers’ strong interest in advanced technology such as Augmented Reality, Virtual Reality, Artificial Intelligence and Gamification.
Key drivers for EdTech
The evolution of the e-learning and EdTech market in Vietnam continues to be driven by key factors, including:
- The rising demand for multimedia content, low-cost-and time-efficient learning options.
- The Government of Vietnam’s strong initiatives in start-up promotion and ICT application.
The market offers opportunities for Australian EdTech to leverage our global reputation for quality education. In particular Vietnamese partners including government education agencies, institutions and technology businesses have expressed interest in partnerships with Australian capabilities in EdTech.
Australian Government (2020), Vietnam EdTech Scoping Study Summary Report
Learn more about the Vietnam EdTech market opportunity
Webinars: Vietnam Online Education and EdTech Market insights
Webinar 1 (2pm-3pm)
Higher Education & VET
The virtual information session will provide in-depth market insights, updates on the Government of Vietnam’s regulations related to online education delivery, competition landscape and potential opportunities for collaboration.
Webinar 2 (4pm-5pm)
Early Childhood Education & School sector
This session aims to provide in-depth market insights and updates on the Government of Vietnam’s current reforms in Early Childhood Education (ECE) and School sectors which will be key drivers of strong demands for EdTech. Besides, the guest speakers of this session will share insights on niche areas and practical business tips for Australian businesses and institutions seeking opportunities in Vietnam.
Austrade Contact
Huong Ngo | Senior Business Development Manager, Hanoi, Vietnam
Australian Trade and Investment Commission (Austrade)
Australian Embassy, No.8 Dao Tan Street, Ba Dinh District, Hanoi, Vietnam
T +84 24 3774 0322 | F +84 24 3831 7757 | M +84 9 76525858
[email protected]