The global ed-tech market is expected to grow at a CAGR of 19.9% from 2021-2028. In 2021, this industry was worth $106.04 billion. What is the reason for the explosive growth trajectory that is envisaged for this sector?

There are several reasons why ed-tech is picking up across the world and the recent pandemic has only served to accelerate the demand. With children being kept away from school and attending online classes, technology has already made inroads into classrooms.

Edtech is for all the stakeholders in the education ecosystem – students, teachers, parents, experts, education cheerleaders, and knowledge seekers across socio-economic strata. The proliferation of smartphones combined with cheap internet data has ensured the penetration of ed-tech to the underserved strata of the population.

E-learning solutions are changing the education sector by closing in on the gap between demand and supply. Affordable access has made e-education platforms available to the lower strata of society. Ed-tech is enabling individuals to enroll in tailored courses for personal and professional development. The emergence of ed-tech has crossed the boundaries of classrooms and entered homes during the last few years aided by the pandemic-induced disruption.

According to a famous educator Mr. Welton Fitzwater, “The Future of the world is in my classroom.” This encapsulates the emergence of the modern classroom in the age of Digital Transformation. The multi-channel approach to education has brought classrooms to the palms of children, literally.

The emergence of so many successful startups in the last few years is a clear indicator of the demand for such solutions. Whether it is about providing independent study courses or offering tutorial assistance to students appearing for competitive exams, ed-tech has provided several alternatives that have found a great response worldwide.

Studies have established that using the audio-visual medium enables better grasping and retention of learning concepts. The modern ed-tech platforms offer smart learning tools that are designed to teach learning concepts in an interesting manner that holds the attention of kids and makes them participate. These platforms offer evaluation tools to

measure the progress of the child, identify strengths and weaknesses before they move to the next level. There are leaderboards that indicate how your child is performing versus peers.

The use of Artificial Intelligence and Machine Learning ensures that students get a personalized learning experience that helps them to learn at their own pace. It is no longer about what you teach, it is about how you teach at school. Teaching methodologies have been turned on their head with the use of Ed-tech. Let us look at some of the areas where ed-tech scores over traditional book-based education.

Available 24/7 – The Covid pandemic that shut down schools and universities across the world was the biggest cheerleader for EdTech. Technology made it possible for students to access educational material on their smartphones. This ensured that learning could continue uninterrupted, at their own pace, anywhere, anytime which offered the ultimate flexibility.

Tailored to fit – EdTech has evolved tremendously over the last decade. It is no longer about videos and images. The modern learning platforms offer interactive experiences using Augmented Reality. They help to create tailored experiences based on the student’s aptitude, strengths, and interests. When combined with great teachers, EdTech can be a truly transformational tool.

Seamless communication – EdTech provides an integrated learning platform that can communicate with all the interested parties- the students, teachers, parents, and school administrators. The virtual assistant helps the teachers and administrators to set up alerts for homework and exams, provides important metrics to parents and teachers regarding achievements with a clear evaluation of strengths and weaknesses.

What can we expect from EdTech in the near future?

Using AR/VR in the classroom

Learning can move to the next level using digital technology. Kids will get the opportunity to use virtual reality, gamification, simulation, etc to develop critical skills like analytical thinking, decision making, and problem-solving. These techniques help students to grasp and retain complex concepts better and the cognitive and psychomotor skills also improve. Studies show that gamification can improve learning outcomes by 89%. This will help teachers to personalize lessons based on individual aptitude.

Holistic learning

With EdTech, children get the opportunity to realize and develop their passions online along with their normal academics. They can learn from the best minds around the world and sharpen skills that are not taught at school. This will help them forge ahead in their areas of interest and this will help to develop a well-rounded personality.

AI-based scientific evaluation

Moving away from the rote learning model which merely assesses students on a written test, EdTech provides a detailed analysis of a student’s comprehension efficiency, time taken to answer a question, time taken to grasp a concept, etc. These apps can generate reports that compare their progress and highlight areas that need improvement. It is a continuous assessment process that gives scope for course correction.

To put it in a nutshell

The EdTech industry was already on an explosive growth trajectory when the Covid pandemic struck. The overnight decision to announce a lockdown forced students to stay at home. Educational institutions had to switch to e-learning which quickly became the new normal. Today, 71% of millennials prefer to learn on a mobile device. EdTech has made learning more friendly and flexible. In fact, EdTech will remain a vital part of the new normal long after schools reopen and offline classes begin because the usefulness of the technology is well documented. There is tremendous potential and opportunity for EdTech in a well-connected world where smartphones and cheap internet data are becoming more affordable and accessible to the underserved segments of the population. EdTech is changing education for the better and helping to shape young minds in a smarter fashion.

About the author- Vandit Kinarivala, Founder & CEO, Dweek Studios