Why the Edtech market is booming and how it plans to usher in a new era in India

Edtech: Plans to usher in a new era in India

February 22, 2022
Ambrish Sinha, CEO, Unext Learning 

With burgeoning personal digital technology and changing consumer behaviour, education technology has seen tremendous growth across the globe. In the wake of the pandemic, when all institutions were forced to shut down, the world witnessed a boom in the EdTech space. Learners, teachers, and administrators have been able to explore the benefits of online education.

With the support of EdTech solutions, the Indian education system moved forward, uninterrupted by the crisis. This, in turn, fostered the EdTech market in the country. India has over 4000 EdTech players, which include tuition providers, school administration, simulation-based learning services, test preparation solutions, online degrees, professional certificate courses, skill development, and other educational segments. 

According to ResearchAndMarkets, an international market research firm, the Indian e-learning market is poised to reach USD 8.6 billion by 2026- thanks to the influence of digital technology in the daily lives of citizens, affordable mobile internet services, smartphones, and other Digital India initiatives.

A new era in India

The education system in India remained rather stagnant for decades. Technological innovations have hardly impacted traditional education. The pandemic crisis has geared up the adoption of technologies in the education sector and is transforming the sector altogether. Its impact has been far reaching.

  • Better accessibility to quality education: Due to the concentration of educational institutions in urban centres, not all learners had access to quality education. EdTech driven digital education traverses regions and makes education available for all. Learners from remote areas can now take classes from top institutions from the comfort of their homes. It also opens doors to those who discontinued their education in order to work and honour financial commitments, and working professionals who wish to improve their educational qualifications. 
  • Improved gross enrolment ratio: Though the enrolment ratio up to higher secondary is more than 50% (97.8% at Elementary, 89.7% at Upper Primary, 77.9% at Secondary, and 51.4% at Higher Secondary), the GER at higher education is at an abysmal 27.1 per cent. Online education enables the country to improve the gross enrolment ratio, especially in the higher education field. With innovative learner-centric approaches, EdTech solutions can improve the students’ retention, and thus, reduce dropouts.
  • Job generation: The booming EdTech industry generates a lot of job opportunities for India’s skilled talents. The EdTech enterprises recruit candidates to all the domains, including teachers, admission counsellors, salespersons, IT specialists, digital marketers, content creators, etc. Since the industry penetrates acrossregions, candidates from rural areas also get jobs that will help lower unemployment.
  • Competitive workforce in the digital world: Online education develops learners’ digital skills, thus allowingthem to have a competitive edge in the digital world. Learners in online education tend to use many digital technologies such as online learning management systems, video conferencing tools, digital planners, cloud storage, and others. The continuous usage helps them master these tools, which would be helpful for them to thrive in their jobs.

Universal high-speed internet penetration will boost digital adoption across sectors. The booming EdTech business transforms India from the bottom up and helps improve equity, accessibility, and transparency in the education system. Effective pedagogies and methodologies enabled by EdTech solutions ensure that students become more knowledgeable and creative without moving out of their homes. It ultimately contributes to paving the way for a new India.

Also Read: Top 5 Edtech Platforms for UPSC CSE Preparation

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