Categories
Market Watch

Covid19 impact on EDtech platforms

This EdTech era is all about using technology to highly personalize learning, trial new techniques, and scale education in previously inconceivable ways. EdTech has been present in some form or another for nearly 15 years. A planned curriculum, interactive courses, labs, project work, and examinations are all part of today’s learning process. Technology has progressed to the point that all of this can now be done smoothly online, resulting in a positive learning experience and positive outcomes. There are plenty of technical online training courses available for the aspirants which aid in enhancing their professional skills to compete with the trending technologies. This EdTech era is all about using technology to highly personalize learning, trial new techniques, and scale education in previously inconceivable ways. 

Tablets, interactive digital courses, and even robots that can take notes and record lectures for students who are ill are increasingly commonplace in today’s classrooms, which have evolved from the cumbersome computers that were previously the standard. And it appears that technology in the classroom is here to stay: the majority of teachers feel that technology will have a significant impact on how they teach in the foreseeable future.

COVID-19’s effect on India’s educational platforms

The massive increase in EdTech users due to the countrywide shutdown has given the sector a tremendous boost in India, where it is expected to grow at a CAGR of 52 percent to reach a $1.96 billion business in 2021. The ability to reach a huge audience at substantially lower costs than traditional classroom learning, vital rise in internet and Smartphone infiltration across India and constant growth in disposable income of Indian households are the primary development drivers powering EdTech in India.

While schools and universities were closed across the country due to the epidemic, many EdTech platforms and services emerged, and their use increased. Governments, schools, colleges, students, and professionals all made significant investments and spending in the EdTech sector around the world. While the industry has had remarkable growth, it has obstacles such as rational scaling up, overcoming infrastructure barriers, and maintaining growth.

Lockdown enhanced investment and innovation in the EdTech Sector

In the United States, around 4,450 EdTech start-ups are serving diverse areas such as K-12, vocational, and professional training/skilling, and also school/college educational operations. While Indian players dominate the K-12 and competitive examination segments, multinational players focus on reskilling, vocational preparation, and certifications.

In India’s EdTech industry, several innovations have been tried to balance the dynamics of teachers and students as they transition from a traditional classroom to a virtual one. Teacher-led education is evolving into a greater teacher-student relationship as a result of technological advancements. Smart classrooms make education clear and equal for all students in a way that is similar to a real classroom setting.

The government’s initiatives for promoting online learning

The SWAYAM program is one of the many initiatives launched by the Government of India to encourage E-learning. This project aims to implement the Education Policies three cardinal principles of quality, equity, and access. This program’s purpose is to bridge the digital gap for students who have been unable to participate in the traditional knowledge economy.

Finally, because of the following key advantages, IT online education is here to stay in India and across the world:

  • Infrastructure’s physical limitations: You are no longer bound by ‘limited seats’ by moving classes online.
  • Environmental Advantage: Without paper books and exams, there is a huge reduction in paper use, which helps to conserve the environment by avoiding the use of trees for paper manufacture.
  • Quick content, instant outcomes, and instant ready-retrieval are all valuable commodities: When opposed to printing books or journals, online content may be developed more quickly. Likewise, automated marking systems are simple to set up and use for quick results, saving a significant amount of time compared to traditional methods of proclaiming results after a long period. Because the answer sheets are stored online, they can be retrieved at any time and from any location for audit or re-evaluation purposes.
  • Breaks down the red tape: Red tape, bureaucracy, bias, and corruption have no place in online enrollments, training, or assessments.

Conclusion

The acceptance of online learning through the use of technology would accelerate as it has never been seen before. In the approaching decades, platforms accessible in Indian marketplaces aim to win a worldwide audience. There would be offline institutions and universities; nevertheless, in terms of market share, the amount of educational content that will be learned through the usage of EdTech would be multiple times that which will be learned on campus.

The pandemic left people with a lot of free time and a lot of energy but nowhere to direct it. Online stages are allowing us to make the most of our spare time by allowing us to enjoy our favorite pastimes while also earning some extra cash. Digitalization has provided audiences with a much-needed platform to explore their skills while also earning money, which has made EdTech such a major hit, with new users joining the field every day. Offline universities and colleges would also begin to offer online programs, which will be developed in collaboration with EdTech businesses that will help them power their learning delivery.