3 Reasons Why EdTech Is The Next Big Thing
Over the last few years, ed-tech has emerged as one of the fastest-growing sectors. Several factors such as digitization, the start-up ecosystem constantly innovating to provide new services, the ever-evolving consumer base, and the current COVID-19 scenario have given the EdTech sector a considerable boost both in India and globally. It is expected that the ed-tech market in India will grow exponentially over the next decade with the support of various government policies.
To develop a complete understanding of EdTech, it is essential to have a deeper look at the entire landscape.
Listed below are three reasons why India will be a market leader in EdTech in the 21st century:
1. Digital India Initiative gives e-learning a boost
India’s government launched The Digital India Initiative intending to make the country a digitally empowered nation. There have been tremendous impacts on the country’s technology industry due to this huge move, which brought a wave of revolution down every road. It is particularly pertinent to point out that one sector that benefits from this initiative is the education sector. India is undoubtedly going to be in the lead when it comes to EdTech, once the goals of the Digital India Initiative are realized.
2. EdTech startups on the rise
Thousands of startups are involved in EdTech in India. The EdTech startups offer a variety of products such as intelligent classroom solutions, adaptive learning platforms, learning management systems, and collaborative platforms that leverage technology.
The cost of online skill enhancement courses is estimated to be much lower than that of offline courses. An increasing number of students and lower infrastructure costs help leverage the economies of ed-tech startups, thus resulting in a reduced price of online classes.
All these factors that are accelerating the digital learning movement in the country are the inflows of investments, acquisitions, up-gradations of offerings, and the fact that more players are moving into digital learning and recruiting students at an increasing rate.
3. Increase in internet penetration
There are more than a hundred million mobile phone subscribers in India. There is no doubt that mobile devices will become the classroom of the future with an increased rate of 10 million users a month. The majority of users of e-learning today are school students and working professionals.
As a result of this growing awareness of the potential of mobile learning, major companies such as large tech companies and publishing companies are also increasingly interested in offering education services through mobile devices. Therefore, it is only a matter of time before India rises to the top of the EdTech heap with its mobile education market.
Start-ups in EdTech are attractive to investors because they quickly adapt to new technologies and provide a high return on investment. With the post-pandemic situation continuing to boost the demand for remote learning, the demand for EdTech companies among students and parents is on the rise. EdTech will undoubtedly undergo a significant evolution in the coming years to set the stage for the remarkable growth that will be seen in India and around the world in the coming years.
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