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This year, TIME launched its inaugural list of the World’s Top EdTech Companies of 2024, in partnership with Statista, a leading international provider of market and consumer data and rankings. The result of this quantitative study: 250 companies changing the field of educational technology. Here’s how the winners were selected.
Methodology
The research project “World’s Top EdTech Companies 2024” is a comprehensive analysis conducted to identify the top performing EdTech companies in the United States. First, companies had to primarily focus on developing and providing educational technologies, products or services. Companies are awarded in one top-list as well as in eleven categories. The 250 companies with the highest score were awarded as “World’s Top EdTech Companies 2024”
The ranking is built on two pillars: financial strength and industry impact. Statista gathered and scrutinized data from over 7,000 companies through desk research, online application forms and collaborations with other data and market intelligence companies. A company received scores in each of these dimensions, which were then combined into an overall score.
For the first dimension, financial strength, Statista analyzed revenue, employee, and funding data, obtained from publicly available sources like annual reports, company websites, through media monitoring, and via databases. Additionally, company disclosures submitted via an online application form, which was freely accessible via the TIME website, were considered.
For the evaluation of the industry impact, Statista worked with HolonIQ and LexisNexis® Intellectual Property Solutions to assess companies in different impact dimensions, encompassing factors such as:
• quality and impact of their product/service portfolio
• quantity and value of a company’s IP (intellectual property) portfolio.
In addition, Statista researched metrics such as web traffic and user numbers, to assess the relevance of the products and services to the…
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