Online Education (Kazakhstan Market)

• IT market of Kazakhstan

Chronicle

2023: The volume of the EdTech market of Kazakhstan decreased by 21% over the year

The market for educational technologies in Kazakhstan decreased to ₸52,4 billion (about 11.5 billion rubles at the exchange rate at the time of publication of the material - November 29, 2024) in 2023, showing a drop of 21%. The main reason for the decline was a decrease in the revenue of companies in the digital educational platform development segment.

According to EdTech, the 5qbe platform, renamed "darlean LMS," showed a 32% decrease in revenue, earning ₸11,8 billion. The company has changed its positioning, focusing on corporate training. Bilim Media Group, one of the leading providers of educational solutions for schools, cut revenue by 42% to ₸8 billion.

Courstore founder and CEO Rauan Syzdykov said the mass emergence of low-quality experts has changed consumer attitudes towards information products, prompting a more cautious approach to buying online courses.

Despite the overall drop, some segments showed growth: children's education increased by 62%, business education - by 55%, Soft skills direction - by 40%, additional vocational education - by 19%.

In the field of investment, the largest deal was the attraction of a children's programming school Codiplay $2 million from the venture capital fund Tumar Venture Fund. The HeRo Study platform for organizing the work of universities received $452 thousand from the Big Sky Capital fund.

Russian companies increased their share in the Kazakh market to 3%, earning ₸1,6 billion in 2023, which is 115% more than in 2022. Ultimate Education saw the largest growth, increasing revenue by 680%.

Market participants note an increase in demand for courses in artificial intelligence and data analytics. Under the Tech Orda program, 91 schools and more than 6 thousand students took part in IT learning.^[1]

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