According to IBEF, India’s ed-tech industry stood at $750 million in 2020 and is estimated to reach $4 billion by 2025 and will grow at a CAGR of 39.77%.
By Kiran Dham
The ed tech industry has boomed in India over time. The pandemic played an important role in driving the growth of the market. Due to the social distancing standards caused by the coronavirus, the students’ educational experiences witnessed several disruptions. This was the time when the ed-tech platforms emerged as a blessing in disguise that helped bridge the physical-digital divide!
They provided seamless learning experiences for the students and initiated the adoption of the concept of online learning. However, two years and three waves later; it is believed that the pandemic will stay here. Physical learning resumes, but both online and hybrid learning models are equally dominant and drive the education system. Hence, it becomes imperative for ed tech companies to redefine their strategies and improve the quality of education in India.
Initiatives are taken by ed-tech companies to improve the quality of the Indian education system
The concept of ed-tech platforms is now not just about digitizing the content. Rather, it is about providing limitless access to learning experiences that can be customized and personalized. It ensures that students can learn at their pace and ease and have access to high-quality, engaging and interactive educational experiences. While much has been done in the field of digitization, technology still needs to be effectively achieved in classrooms. Ed-tech companies must work with the government to come up with solutions to make technology accessible and compatible with classrooms that lack the necessary infrastructure and support. The correct implementation of technology is only effective if the teachers are educated and trained to make the best use of the resources. To make this possible, ed-tech brands and the government need to focus heavily on educating and upskilling digital classroom teachers to get the desired outcome.
According to recent reports, technology in education is currently mostly focused on delivering content. However, there is still little availability of good quality content. Ed-tech companies need to invest and research to come up with innovative content specifically designed to create forward-looking learning experiences. In addition to quality content, other core functions such as admission, content management, ratings, report generation, etc. are also enabled by ed-tech solutions. Apart from academic growth, ed-tech has expanded its reach to provide skills-based education and provide the holistic development of learners. Digital Language Labs helps students learn different languages as a skill and prepare them for global fame.
The ed-tech platforms are making efforts to improve the quality of education in India. The establishment of the India EdTech Consortium (IEC) in partnership with the Internet and Mobile Association of India is a prominent example of the same. In line with the government’s vision, this initiative will ensure that every student has access to high-quality and affordable education. This will not only improve the academic performance of the students but also prepare them for the industry for the futuristic functions.
Even the Union’s 2022 budget was quite inclusive and focused on supporting digital education across the country and promoting upskilling. Supported by technology, they are now striving to improve their offerings and become all the more tech-savvy. This trend was highlighted in a recent report stating that ed-tech companies are eager to explore new technologies to meet rising demand. Be it AR, VR, AI, ML, smartboards; they leave no stone unturned to ensure that the physical-digital divide is bridged and that students do not have to make any concessions in their studies. Thus, the ed-tech companies focus on expanding and maintaining the provision of superior learning experiences.
The future roadmap of the Indian ed-tech market
According to IBEF, India’s ed-tech industry stood at $750 million in 2020 and is estimated to reach $4 billion by 2025 and will grow at a CAGR of 39.77%. The increasing demand for tier 2 and 3 cities and the need for personalization in the ed-tech space are the main factors driving the growth of the market. The institution further states in its recent research that India will soon become the global hub of the ed-tech space. Therefore, as we live in the post-pandemic era, it would be appropriate to say that the demand for technology-enabled learning is witnessing a surge and will increase all the more in the time to come.
The Indian education sector has undergone major transformations. The ed-tech platforms have played a vital role in powering the industry and ensuring academic excellence. They have made education accessible, affordable and transcending all geographic, socio-economic and cultural barriers. Considering that they have become an essential part of the Indian education system and offer a plethora of benefits; they are expected to renew the entire landscape of the market. They are already making concerted efforts to improve the quality of education in India. Due to their growing fame and demand; they will continue to focus their efforts on scaling the teaching scenario and improving the teaching experiences. Ultimately, ed-tech as a market has huge potential, but we have yet to explore and tap into most areas. Only a certain percentage benefits from technology and much of the education sector is still untapped. We still have a long way to go!
The author is CEO, Globus Infocom
Also read: Meaning of hybrid learning platforms in education
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