The education sector has been viewed as ripe for innovation and disruption for the past two decades. But despite all of the expected potential, edtech has evolved incrementally and added on top of the standard learning and teaching practices.
The rapidly evolving job landscape is further demanding continuous skill development. This has paved the way for skill-based learning platforms to offer focused courses, enabling individuals to acquire niche skills. The market value of the global edtech market was estimated at $106.46 billion in 2021. From 2022 to 2030, the market is expected to grow by 16.5% and expand 2.5 times from 2019 to 2025.
Technology is radically transforming the edtech sector with the emergence of edtech-driven learning platforms presenting innovative solutions to make learning interactive and experiential. AI combined with current well-validated digital educational technologies is creating new disruption opportunities.
But how is AI reshaping the education sector, and how are new startups positioning themselves to enter the edtech market? Let's find out.
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What’s Driving Growth in Edtech?
Technology is transforming the education industry, equipping them to tackle the challenges head-on and explore exciting possibilities that lie ahead. Industry has been exploring new and innovative ways of learning, and one of the most promising solutions to emerge is the integration of tech into education.
A significant part of investments is made in education and upskilling. With the world changing, learners need to learn new skills to keep their jobs or find better ones. A critical contributor to edtech’s fast growth is the growing number of mobile devices, allowing people to study and even work from anywhere and anytime. This has given momentum to edtech development. Millions of students have started learning online, and new forms of remote education have started to emerge in the blink of an eye.
From remote learning to personalized teaching, technology solutions have the potential to present effective learning experiences tailored to suit industry changes.
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AI-Generated Teaching Modules
With the integration of AI technology into the industry, a new learning assistant has emerged that seamlessly takes over a lesson or course from a human teacher. This technology provides students with personalized instruction and feedback based on their learning needs. AI-generated teaching modules help students practice their curriculum at their own pace from the comfort of their own homes.
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Web-Based Conferencing Tools
This technology presents learners with fully synchronous and web-based teaching, which has the potential to be more effective than hybrid teaching. With enhanced visibility and interactivity, educators can deliver virtual sessions with ease. Organizations are integrating web-conferencing tools, enabling educators to schedule and host virtual classes, webinars, and meetings directly within the environment.
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360-Degree Student Assessment
360-degree student assessment provides a full view of student's academic, social, and behavioral interactions. With this view, educational institutions can offer personalized study plans to students that are more effective than traditional teaching methods. With personalized learning interventions, students can significantly improve their curriculum.
- Zero-Trust and Effective Security Measures
Security is of utmost importance in the education industry. With sensitive data like student records and financial information at risk, it is critical to implement effective security measures. Cyberattacks in the edtech sector have been on the rise due to the transition toward remote learning and online education platforms. However, implementing zero-trust security measures has led to significantly minimizing the risk of cyberattacks and data breaches.
The Ongoing Transformation of Education
Today, the focus is not just on integrating technology for sake, but rather, it is being put to the right use to gain insights, support educators and learners, and enhance learning. And that’s the reason why edtech-driven solutions are playing a vital role in education today. Edtech provides learners with engaging, interactive, and personalized learning experiences for their students and improves their own productivity and professional development.
The changing dynamics and the transformation of education through technology have witnessed phenomenal development in recent years.
Personalized adaptive learning is no longer a luxury for learners and institutions but a necessity. It is aimed at ensuring that every learner is at the right level and at the right pace, and in a way that resonates with them. Personalized adaptive learning is paving a new way, enabling young learners with the skills and creativity required to navigate 21st-century challenges.
Experiential learning is also becoming a critical facet of modern education. It presents a transformative approach that outperforms traditional learning methods.
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Technology is more than just a tool to enhance education. Its impact transcends conventional boundaries and aligns with the understanding of the learners. With far-reaching effects, edtech innovations are presenting more evolved and unique solutions. It reflects the changing landscape of education where data availability and high-quality questions intersect to build a learning environment enriched by technology.
What’s Next for Edtech?
In the digital era, one-size-fits-all education no longer suffices the needs of learners. Personalized AI-powered educational platforms are emerging as the next big opportunity for change. AI-powered platforms are assisting educational institutions and educators to assess their learning styles, preferences, and progress by delivering a curriculum that caters to the learner's unique interests and capabilities.
With the edtech sector continuing to rise, industry experts are exploring new opportunities, including online courses with augmented or extended reality.
Innovations are further driving growth. Online courses integrate gamification to keep the students’ attention and maintain their motivation. While keeping up with new technological advancements, another significant challenge learners are facing is data privacy. To trust their online course providers, educators need to guarantee the security of data collection, processing, and storage.
There is a huge potential for edtech, and with the market set to skyrocket in the coming years, the next boom will benefit businesses from researching the developing markets, learning about their audience, and trying to build local multicultural teams.
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Staying Ahead of the Learning Curve
Edtech solutions are changing the way educational institutions facilitate education as well as the quality of learning. They are now able to create a better learning environment by fostering better interactivity and connectivity while ensuring that learners feel motivated and engaged.
The next generation of education is expected to provide a digital learning environment. With technology enhancing learning, institutions are combining technology with excellent teaching practices to create a transformative educational experience. By keeping up with the innovations, educational institutions can inspire students to learn, create, and strive for better.
SG Analytics, recognized by the Financial Times as one of APAC's fastest-growing firms, is a prominent insights and analytics company specializing in data-centric research and contextual analytics. Operating globally across the US, UK, Poland, Switzerland, and India, we expertly guide data from inception to transform it into invaluable insights using our knowledge-driven ecosystem, results-focused solutions, and advanced technology platform. Our distinguished clientele, including Fortune 500 giants, attests to our mastery of harnessing data with purpose, merging content and context to overcome business challenges. With our Brand Promise of "Life's Possible," we consistently deliver enduring value, ensuring the utmost client delight.
A leading enterprise in Edtech, SG Analytics focuses on leveraging data management, analytics, and data science to help businesses in EdTech and other industries discover new insights and craft tailored growth strategies. Contact us today to make critical data-driven decisions, prompting accelerated business expansion and breakthrough performance.
About SG Analytics
SG Analytics is an industry-leading global insights and analytics firm providing data-centric research and contextual analytics services to its clients, including Fortune 500 companies, across BFSI, Technology, Media & Entertainment, and Healthcare sectors. Established in 2007, SG Analytics is a Great Place to Work® (GPTW) certified company and has a team of over 1100 employees and has presence across the U.S.A., the U.K., Switzerland, Canada, and India.
Apart from being recognized by reputed firms such as Analytics India Magazine, Everest Group, and ISG, SG Analytics has been recently awarded as the top ESG consultancy of the year 2022 and Idea Awards 2023 by Entrepreneur India in the “Best Use of Data” category.
