Why are Ed-Tech industries Booming in India?

The education sector in a developing nation like India has faced a significant disruption during the covid-19 pandemic.

Today, education has evolved, and it isn't confined to the four walls of a classroom. The restrictions imposed on the education sector during the lockdown and the stringent safety protocols have steered the path toward a new-age educational era.

However, a beneficial outcome of these pandemic-caused disruptions has been the receptiveness and mutual understanding of supporters - the public and private schools, the Government, coaching institutes, tutors, teachers, and most importantly, the students - in opting for the digitized mode of learning.

It led to the growth and booming demand for EdTech companies in India.

The Surging Growth of the EdTech Industry in India

The Edtech industry in India is estimated to have acquired a whopping $16.1 billion in VC funding, which is 32 times more than the $500 million received in 2010. The growth in this industry is possible due to the higher education, the K-12 segment, and upskilling categories.

Integrated with the significantly increasing popularity of distance education and Online Degree, the EdTech companies in India will witness a remarkable $30 billion revenue hit in the next ten years.

While the persistent impact of the covid-19 pandemic on the education sector is yet to unravel, education models are undoubtedly to go composite with internet penetration and smartphones.

Thus, what the learning models and structures will be in the future depend on how multiple stakeholders react and adapt to these digitized changes quickly and seamlessly.

What does EdTech Bring in for Learners?

The leading EdTech companies in India offer the power to bridge the learning gaps with the help of technologies that can steer past the geographical barriers to impart education to every corner of the nation.

Educators understand the growing need for digital adoption. However, they also want to keep the few unprecedented benefits of traditional classroom setup like one-to-one support from educators, peer discussions, and enabling opportunities to work collaboratively for assignments.

Some of the latest features and additions by the EdTech companies in India, like immersive learning, video-supported remote learning, on-demand learning, AI and VR, etc., have changed the education landscape in India even more.

Given that, it is crucial that both learners and educators need to spend time training to use these platform tools for the convenient delivery of knowledge. With the increasing demand for digitized modes of learning, there is no doubt that all technological advancements will get integrated into digitized classrooms.

Digital Classrooms can Enhance Student-Educator Engagement

Compared to the traditional education model, Online Degree is way more affordable. According to industry reports, with digital modes of learning, education from grades 1-12 has surged 6.3 times this year than in 2019. Learners from different income groups and social classes can now access quality education via the platforms offered by the leading EdTech companies in India due to their flexibility, accessibility, and affordability.

Furthermore, as online classes are smaller than traditional classroom sizes, there are chances for sharing feedback, interactions, and engagement sessions between the student and the tutor.

Technology Brings Customization to Education that was not Attainable before

Opting for Artificial Intelligence (AI) offers significant educational benefits, such as learning customized as per the needs of every learner, enabling them to adjust the control and speed redundancies to improve the topic expertise.

EdTech companies in India powered by AI search engines can make things better and simplified. However, the learners may need to complete a questionnaire in the first step. It will help the AI-powered EdTech platforms understand a learner's potential, career options, interests, location, and budget.

AI is marking a long trend in the education sector, turning conventional learning methods into an all-inclusive learning system with the help of augmented reality and simulation tools.

Government virtual initiatives will intensively boost digital learning

One of the significant reasons behind the booming growth of EdTech companies in India is the lack of resources and facilities that brought dissatisfaction with the current learning methods in traditional classrooms.

In the past couple of years, both the state and central governments have been validating the use of technology in the education delivery system.

The Indian Government is promoting digital learning in the nation via initiatives like the SWAYAM (interlaced network of active learning for young minds), an online education platform operated and controlled by the Ministry of Education (MoE).

Moreover, the MoE controls other digital learning platforms like e-Pathshala, Diksha, and NIOS (National Institute of Open Schooling).

Among these endeavors, the Government has added a new platform by launching PM e-Vidya, a digital learning initiative launched in 2020. This program came as a part of the covid relief package under the Atma Nirbhar Bharat Abhiyan.

The suggestions of the NEP (National Education Policy) 2020 further emphasize the Government’s motive and priorities for digital learning. This policy considers technology an integral part of education. It aims to equip the technology in education via online student communities, app-based learning, and learning delivery far ahead of the ‘chalk and talk’ concept.

EdTech - The Future of the Indian Education System

Test preparation, higher education, and upskilling classifications will drive the booming growth and rise of EdTech companies in India.

With the rapid demand and adoption of EdTech and a different perception of learning in this post-pandemic world, the EdTech companies in India can hit more significant numbers than anyone could ever imagine.

However, for the industry to grow consistently, the stakeholders must enhance the overall user experience.

Although the sector is witnessing significant user growth, it still deals with infrastructure hindrances due to low-end devices and poor internet connectivity. So, to achieve mass-scaled EdTech adoption, stakeholders must meet the needs for affordable EdTech services.

Plus, EdTech companies in India must become better-optimized solutions that identify and resolve these challenges.

Like the leading EdTech companies in India, EdTech startups should also offer the best innovative and technological products to enable better focus on student engagement and learning outcomes.

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