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The world is experiencing an eLearning boom in the wake of the COVID – 19 pandemic. Dynamic Education!
Educational institutions, all around the globe, are promoting digital education platforms. This in turn is boosting the EdTech industry as a whole. Don’t you see it? With the onset of global lockdowns, the model of education has changed overnight.
So what next?
Well, digital education platforms have emerged as the most essential source of education. This is also the point where you will see the importance of dynamic education. You must be wondering how.
We will tell you how. Follow up!
Importance of dynamic education
Covid-19 has smoothly enhanced the growth of digital education platforms. The teachers and students are slowly and successfully adapting to the platform of virtual learning. Sounds good, right?
This is a major change that is probably permanent.
The digital education platforms have recorded a substantial surge in enrolments. This surge is right from the time when the global lockdowns started. Isn’t that obvious?
The pandemic messed up the business sectors on the whole.
So what does that mean?
Well, this has led to the redesign of business models to meet the necessary demands for now.
Oh wait, there’s more!
The pay cuts in addition to job losses have encouraged the working professionals to upgrade their skills in the respective fields.
Why so? See, the job market has become more competitive than ever. In such a situation, you need to fill the skills gap, to be included. Right?
Do you see where I am going with this?
These trends are valid in the EdTech industry as well.
The surge in registration of learners shows the need for dynamic and flexible education. Doesn’t it?
Changes in the EdTech business model
The widespread internet access has made remote learning accessible. In addition to that, the remote areas have access to virtual classrooms as well.
This in turn is helping to deliver high-quality education in remote and semi-urban areas. Isn’t it amazing?
Thanks to technology, nowadays language and location are no longer obstacles in the path of education.
Isn’t this the perfect time to accept and experiment with technology? This may even make education seamless for the learners.
Want to know the best part?
Digital education holds brilliant potential for developing nations. It has the potential to change the backdrop of education forever.
Allow me to introduce the adaptations in the EdTech industry since the pandemic struck us:
- Modernized business model.
- Localizing the platform to meet the demands more precisely.
- Professional courses outside the domain of school education.
- Platforms connecting field experts and learners.
- Massive collection of courses to choose from, based on timeline, preference, and engagement.
Please do not miss this part! Check out the courses offered as an addition in these platforms:
- Health and fitness
- Data science
Growth of the EdTech Industry | Dynamic Education
The future of the EdTech market does look promising. It is further expected to progress in the domain of technology.
You don’t want to miss this.
Here are the statistics of growth recorded by some of the EdTech companies:
- Byju’s has recorded around 7.5 million new registrations.
- Unacademy has recorded around 1.5 billion watch minutes.
- Toppr has recorded a 100 percent surge in free user registration since March.
- Udemy has recorded a huge surge in course enrolments. It stands at about 425% globally.
Here’s the interesting part.
With this trend, the EdTech industry may continue to gain tremendous grip even post-COVID situation.
I am sure you will agree with me when I say that people are satisfied with e-learning.
And why wouldn’t they be? It is more affordable with a better quality of education.
Advice to EdTech start-ups
Our advice to the developing EdTech start-ups is to correctly predict the needs of the future and act accordingly.
EdTech is a massive market at present. I am sure you too see that.
It is growing each day. The COVID 19 pandemic has just enhanced the acceptance of digital education on a large scale.
So, what now? Check this out!
Some of the most essential EdTech tools for the future include:
- Updated technology to escalate the engagement and efficiency of education among communities.
- Develop a good stance in the tech space.
- Digitize unconventional courses.
- Implement technologies like Artificial intelligence, Augmented Reality, Virtual reality, and voice assistants. This will help gain good flow and help in cooperative learning.
This revolution in the EdTech industry is a great opportunity for emerging EdTech start-ups. You surely do not want to miss this.
It all boils down to the fact that persistence to innovation is all you need to drive your EdTech business at present. With that, you do need some decent business strategies to grab the market. Right?
Nevertheless, only the dynamic business models that can stand upright in the changing times, experience success.
So what is the trick here? Work on the feedbacks and develop viable solutions. The solutions must be able to duly meet the demands of the new learners.
The old-school method of learning has somehow shaped a limited environment for learners.
This is exactly what needs to change.
The students are loving this new wave of education where they can explore appealing content according to their needs and demands.
If you are a budding start-up who wants to be a part of this revolution, do get in touch with us at TheCodeWork! We will be happy to offer our services in Product validation and MVP production.