There is a dramatic increase in the use of modern educational technology (edtech) in schools around the world to support teaching and learning and improve student learning outcomes. The recent trend in education systems is toward personalized, adaptive, student-centered learning models that incorporate intelligent classrooms, digitized learning content, and pre-recorded teacher videos that enhance the learning experience. i am going.
In recent years, edtech has played an important role in India, contributing significantly to the improvement of educational standards. The outbreak of the Covid-19 pandemic has also kick-started the growth of the country’s edtech industry, which had been growing at a modest pace, and is expected to register exponential growth. US$30 billion By 2031.
Driving force of edtech growth
Affordable Online Education: Parents in India spend a lot of money on their children’s education and learning additional skills. And pursuing skill development offline is very costly. Edtech players offer ready-to-use learning programs without high administration fees. As a result, users benefit from savings and course affordability increases. According to KPMG’s 2021 Indian Online Education Study, online skills learning courses are 53% Cheaper than offline options.
Quality education available: Students have access to quality education through online resources. Edtech companies are helping educational institutions without modern digital infrastructure fill a significant gap by complementing their resources to support e-learning models. Not only that, online courses are effective in keeping you up to date with the latest technological developments. These courses are carefully crafted with the help of subject matter experts. The Indian online education market is projected to continue growing in the future. US$2.28 billion It will grow at a CAGR of almost 20% from 2021 to 2025.
Lack of educational infrastructure and qualified teachers: While the reach of educational institutions may be limited by population growth, the expansion of the edtech sector offers alternatives, such as intellectual infrastructure such as libraries and qualified and well-trained teachers, Provide a seamless experience to serve a large number of students. the physical infrastructure of the school;
Demand for upskilling among working professionals and job seekers: India’s job market is under double pressure from layoffs and a shortage of vacancies due to automation and a global economic recession. Edtech industry players are enabling professionals and job seekers to advance their careers and acquire new skills. Online skills courses from edtech companies are affordable, provide hands-on knowledge that can be completed in less time than offline courses, and offer flexibility in an individual’s schedule to upskill or reskill at their own convenience. .
Increased internet and smartphone usage: India has seen a dramatic increase in smartphone and internet penetration in recent years. About 830 million people are expected to have internet access in 2021 and by 2026. Billion People will use smartphones in this country. For young age groups and aspiring students coming from tertiary cities and remote areas with limited access to such skill development courses, the internet makes enrollment in distance learning incredibly easy. . With the help of smartphones and the Internet, these groups can fulfill their educational obligations and learn career skills without leaving their homes, workplaces or cities. Digitally conscious government policies: The government will promote digital literacy, build a knowledge-based society and implement the three basic principles of access, equity and quality in education policy through a number of initiatives such as Digital India and Skills India. We are taking action. Additionally, the education sector in India has been granted 100% FDI through the automatic route by the government to allow entry of new edtech companies.
road ahead
The rise of educational technology (edTech) has made learning anytime, anywhere. By embracing technologies such as AI, ML, and IoT, edtech institutions and companies are adapting their teaching methods to online education, offering these cutting-edge courses through digital mediums at a fraction of the cost. increase.
The future potential of the edtech sector to close the learning gap looks very promising given its expansion trajectory. Venture capital investment in India’s edtech sector has grown 32-fold over the last 12 years. 500 million in 2010 to 16.1 billion in 2022 And the sector is expected to reach the next level US$30 billion By 2031.
Disclaimer
The above views are the author’s own.
end of article
