The shift of education from offline to online has accelerated due in large part to the impact of the COVID pandemic in China, local media Jiemian.com reported citing a report.
The report out by the Laboratory of Data Mining and Knowledge Management, the Chinese Academy of Sciences estimated that the market size of the entire online education industry would exceed RMB 540 billion (USD 78 billion) by 2022. Within the industry, the K12 (from kindergarten to the 12th grade) vertical is expected to hit USD 22 billion.
Edtech is one of the favorite sectors with venture capitals in China in recent years, it is among the few industries that saw a year-on-year total investment value increase in the COVID-19 pandemic early this year, KrASIA reported.
More on China’s online education sector please read: Despite short attacks, GSX becomes China’s second-largest K-12 education company by market cap
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.