The Three Lions were beaten by six wickets in Dhaka on Sunday as the Aussies claimed a third consecutive title.
England made a modest score of 105-8 at the crease before Australia secured a comfortable victory with just under five overs remaining.
"We were completely outplayed today by a very good Australian team," Edwards is quoted as saying by Sky Sports News.
"We just weren't good enough today. Australia bowled extremely well, backed it up in the field by taking their catches and we never quite got going, kept losing wickets at key stages.
"[Our score] was never going to be enough in a World Cup final. Congratulations to Australia, it's an outstanding achievement to win three World T20s in a row."
England bowler Anya Shrubsole was named the Player of the Tournament following Sunday's final.