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EdTech and IT Industry
EdTech and IT Industry

December 7, 2022

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The use of computer hardware, software, and educational theory and practise to promote learning is known as educational technology, or edtech for short. The sector of businesses that produce educational technology is sometimes referred to by its abbreviation, edtech. It is frequently described as the study and moral application of promoting learning and enhancing performance through the development, application, and management of suitable technology processes and resources. the act of using IoTs in the classroom to facilitate more interactive, inclusive, and personalised learning experiences. The outdated, cumbersome desktop PCs that were once the norm have been replaced with tablets and interactive internet learning in today's classrooms. Numerous changes are being made in classrooms because of the advent of edtech tools. For instance, edtech tools like robotics, virtual reality lectures, and gamified classroom exercises help students stay interested in their studies. And edtech IoT devices are praised for their capacity to give students access to digital classrooms whether they are present in a traditional classroom, on a bus, or at home. Even blockchain and machine learning techniques are helping teachers grade exams.

Edtech Benefits for Students

• Cloud-based apps allow students to upload their assignments and communicate online about their ideas and any needed assistance.

• Students are finding it simpler to have full access to the classroom in a digital setting thanks to IoT devices. Students now have access to Wi-Fi and the cloud from connected devices whether they are at school, on the bus, or at home, enabling them to complete assignments at their own pace and according to their own schedules without being constrained by the requirement of being present in a physical classroom.

• Edtech gives teachers the chance to create individualised lesson plans for each of their students. With this method, learning is supposed to be tailored to a student's interests, talents, and strengths.

Growth of the EdTech Sector:

In the past few years, the edtech industry's education-to-employment sector, which caters to adult learners, has experienced significant expansion. As thousands of new players enter the market, valuations for these education-to-employment edtech companies have experienced a roller-coaster ride, and investors have questioned what scalable and lucrative business models might look like in the industry. Numerous edtech start-ups have been dubbed "unicorns" and have valuations of over $1 billion

The Effect of Covid on the Indian Edtech market

: Currently, more than 300 million children in India who attend school are being helped by 4,500 EdTech start-ups. About 40 million of them are seeking higher education because of the pandemic's impact on their schooling. Students can access content at their own speed and take customised lessons through edtech. The Indian EdTech market was estimated to be worth 750 million US dollars in 2020 and is anticipated to grow to 4 billion US dollars by 2025 at a CAGR of 39.77%. The need for personalization in the EdTech industry and the increased demand for non-academic courses

from tier II and III cities are the main drivers of this rise. Out of the estimated $4 billion in market value, K–12 (kindergarten–class 12), after-school foundational, and pre-preparational courses will receive US$ 1.5 billion Due to growing government interest, it is anticipated that the Indian EdTech industry would become more policy-friendly in the next years. The National Education Policy 2020 emphasised the value of utilising technology in educational solutions and backed the development of educational content in regional languages, designating it as a high priority. Due to their ability to quickly adopt cutting-edge technologies and high rates of return on investment, EdTech start-ups attract investors. Parents and students are demanding more EdTech companies as the need for distance learning keeps rising in the wake of the pandemic. The Government of India (GOI) has made several strategies and sweeping adjustments to improve the EdTech sector and the quality of students' remote learning experiences. For instance, the GOI launched PM e-VIDYA in May 2020, enabling the top 100 institutions in the nation to begin offering online courses. The National Education Policy 2020, ease of access to teachers and education, need for skill upskilling, and remote learning demand would therefore speed up expansion of the Indian EdTech business.

Future of Ed-Tech:

Ed-tech is one of the fastest-growing industries in India these days. According to reports, in the last five years, the industry has gained an investment of around $4 billion, and it is estimated to expand by around $30 billion in the next 10 years. With such a huge level of investment, the future and prospects of this area are vast. There is a lot of work being done in making Augmented reality (AR), virtual reality (VR), and extended reality(XR) to make these courses online more cost-effective and reliable. The job prospects of students pursuing these courses will be in the high-paying domains and this will also revolutionise the entire education system.


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