Passionate about empowering the Gen-Z, Nitesh is a renowned mentor and a leader who also leads Best Group.
The world has already witnessed far too many negative impacts of the global coronavirus pandemic on several industries; however, education industry is one such where it has had an efficient impact like no other. The extended periods of lockdown in many parts of India put the education society at unrest. According to UNESCO, about 1.5 billion schools & university students are now stuck at home, representing 90 percent of the world’s student population. As a result, the schools and universities brought classrooms to their children in the form of online learning and virtual tutoring.
According to reports shared by KPMG and Google, India’s education industry was expected to reach $2 billion in 2021 at a CAGR of 52 percent. The estimates were made before the epidemic had hit India and today, after several months into 2020, the industry experts are already expecting an increase in thenumbers.
The COVID-19 pandemic has put technology to large-scale use in support of remote learning, online education, and distance learning capacities. It has broken barriers and busted myths surrounding the sustainability as a standalone online education model. The policymakers are also in favor of enablingvirtual tutoring, video conferencing, and use of online software in schools and universities as the need arises for inculcating EdTech to match the job requirements of the future.
How has the pandemic caused boom in the EdTech industry?
India’s EdTech industry ranks the second largest in the world, and its penetration in the country has further increased due to COVID-19. Even before the lockdown happened, EdTech industry was developing far and wide. From a $107 billion market in 2015, it was expected to significantly increase to $350 billion by 2025, as more individuals began to rely on learning assets available on the internet.
Access to internet’s capabilities of teaching students and its usability for teachers has what made EdTech a booming industry. The coronavirus has just accelerated the dependence. In March, when Covid-19 was announced a pandemic by the World Health Organization, there was a 90 percent increase in applicationdownloads compared with the final quarter of 2019.
For students who choose internet for their academic as well as vocational studies, there is proof that online learning can be more powerful in many ways. Some exploration shows that by and large, students retain 25-60 percent more information when learning online contrasted with just 8-10 percent in atraditional classroom. This is generally because they have the option to learn quicker on the online; as here they can learn at their own pace, can return to the same topic more than once, re-read, and strengthen their topics as they pick.
The capacity of EdTech companies to incorporate Big Data further adds to its potential in the zones of advancement by having the option to learn and advance rapidly, as we have found in this pandemic.
EdTech was thought to be an auxiliary alternative and probably, an enhancement to conventional techniques for school learning. But the sector has rather turned out to be a revolutionary approach as nations around the globe had to push lockdowns due to COVID-19, leaving a large number of studentsrestricted in their homes.
A huge part of India’s learning framework is broken as students who graduate with degrees are yet not able to meet the skills prerequisite set out by major corporations. Attempting to fill this void are ed-tech players that have started to lead the pack in developing academic territories, with, Artificial intelligence, machine learning, blockchain, and big data.
An EdTech revolution is blending in India as the companies driving this change are domestic players utilizing AI and ML to expertise India’s children. In the coming years, it is accepted that EdTech administrations will give vivid and industry-explicit learning through enormous stages.
Market players are giving basic future skills through an interdisciplinary arrangement of courses. They are empowering students with future fluencies, exponential advances, new skills and vital qualities that will move them to make a positive effect in the world. Each of these ranges of abilities are significant in making every one of the students explorative, visionaries, dynamic, and cutting-edge competitors that will encourage them to flourish.
India’s dynamic education system when combined with new-age technology has proven to be a useful tool in increasing efficiency and engagement among communities. The adoption of right tools would further enable enhanced teaching, thereby raising student’s accomplishments. And yet, the need forupskilling is not only restricted to school and university level, but also has expanded to the corporates. Many EdTech players have launched online course platforms to offer a valuable tech addition to the landscape of distance learning. According to the World Economic Forum, by 2022 about half of theworld’s working population will have to require re-skilling or up-skilling, making online education space relevant in today’s day and age.
There are, however, many barriers ahead. Students without internet access struggle to take in online learning; this gap has now been seen and worked upon across many nations.
In India, there is a critical gap between those from privileged and unprivileged backgrounds: while most 15-year-olds have a mobile or a computer at home, almost seven million of those are without internet. To tackle this, the government has launched several initiatives such as National test Abhyas, meant for students to learn and practice entrance exams with the help of AI powered tools and vocational & professional training/skilling at schools & universities level while EdTech companies are offering courses to build learning infrastructure to reduce inhibitions among parents as well as children.
India’s dynamic education system when combined with new-age technology has proven to be a useful tool in increasing efficiency and engagement among communities
Thus, it is the obligation of teachers, parents and EdTech business visionaries to prepare the population for the & new normal’ in learning sphere. Further, the policymakers ought to find out ways to incorporate online instruction and virtual learning in as many students’ households as they can, especially those with& one gadget or less limitations in the families. COVID-19 has empowered the education segment to understand the capability of advanced learning. In this way, the time has come to hit the reset button and accept the new ordinary.
Published on SiliconIndiaBACK TO NEWS