EdTech is defined as the emerging sector at the intersection of Technology and Education. EdTech can be categorized as technology enabled solutions and services that redefine how traditional education is imparted to students at all levels.
Let’s get the overall picture of EdTech sector growth in Asia Pacific driven by the middle-class population:
- Global Spending on Technology by 2025 – USD 250 Billion
- Invested Every Year in EdTech - USD 4 Billion
- China Attracting Half of Global Startup EdTech Investment
- India, USA & China are Major Hubs of EdTech Global Ecosystem
Source: EdTech digest, Medium, Global Startup Ecosystem Report
The technology drivers that’s pushing this evolving trend in EdTech in India include:
- Internet Penetration - Increasing reach and lowering cost of internet allows large population to come online and have the access to this market
- Mode of delivery - Dissatisfaction in current education system will move people towards new delivery mode
- Bandwidth increase - With increasing internet bandwidth, watching video content online has become easy
- Population - Rise in middle class population will push for education demand
- Digital India - Indian government Digital India campaign will give a boost to EdTech sector
- Disposable income - Rise in disposable income across the country will push Indian EdTech
- Low cost - Online education provides a low-cost alternative
- Job search - Growing job seekers will demand industry specific trainings
Top trends influencing EdTech sector
AR/VR - The high demand for experimental learning is driving the Augmented Reality and Virtual Reality in the learning sector. Advancing technological development within AR/VR is the catalyst to increase student engagement and quality of communication within and beyond the classroom.
AI – Artificial Intelligence is changing the entire eLearning landscape with its multitude of services and offerings. Implementing AI facilitates eLearning hubs to assist students in focusing on the areas of improvements. Comprehensive ways of solving student problems by the advanced AI models when compared to the traditional mode of teaching. The AI technology can also help them with realistic experiences compared to traditional linear pre-programmed lessons and eLearning courses.
Mobile learning & Cloud Computing - Text book concept will change, and knowledge will be on cloud. Driving this trend is the exponential rise in smartphone usage. Cloud connectivity will unify the students across geo-locations providing easy access to content. The notification features of upcoming events in your courses, 24/7 access to your course materials and interactive interface for improved engagement is propelling the m-Learning and cloud based EdTech sector.
3D Printing - Printing 3D models for any structure will help learners have a physical grasp of the taught concept. It will help them visualize the intricacies of the module and enable them to further explore the theme and enhance their learning.
Biometrics - To understand the engagement level of students. Combined with the AR/VR technologies, this provides vital feedback on the students’ interaction with the eLearning modules.
Big Data – Understanding how the users are utilizing the Big Data information and accessing the most relevant aspects of the eLearning system will help the experts to fine tune the courses or modules. This can help predict the learner’s success or failure in course completion. Providing instant feedback and benchmarking performances lets the learners have a competitive edge and accomplish their respective goals.
Learning Analytics - Learning Analytics is a way of measuring, collecting, analyzing, and reporting the data of student’s learning and the context in which they learn. This data then serves as a tool for the training institutions, as they get access to each student’s way of learning and most importantly, their professional development.