Education is the foundation of a nation’s workforce development and overall economic growth and prosperity. Furthermore, today, the education sector remains on the cusp of a computerized digital revolution, because of technology.
Despite the fact that eLearning and mobile learning (mLearning) were available out of sight for quite a while now, the ongoing pandemic has driven the whole world’s schooling framework into an uncertain remote learning experiment.
The COVID-19 pandemic not just unleashed devastation on the healthcare and economic infrastructures of more than 200 nations, yet it likewise left worldwide education in a mess. However, this presents a great chance for the Edtech industry. It’s no big surprise why VCs are progressively putting resources into Edtech startups and Edtech application advancement!
The Edtech market size
We’ve as of late seen a huge move in the learning curve, with educators and students interfacing through Edtech applications and mLearning platforms. Technology assumes a vital part of education delivery, content circulation, and the performance appraisal of students.
Normally, the Edtech area, especially Edtech application development, has seen a considerable investment and expenditure increment. HolonIQ predicts that the worldwide Edtech financing will remain at US$ 87 billion by 2030. Projections show the e-learning market overall is forecast to outperform 243 billion U.S. dollars by 2022. Indeed, the Edtech business will probably significantly increase in growth by 2025 to arrive at a net worth of US$ 350 billion – an incredible increment from being a US$ 107 billion market in 2015.
With respect to India, the pandemic has ended up being a significant driver for the nation’s Edtech sector. A report by RedSeer and Omidyar Network India expressed that by 2022, online education solutions for classes 1-12 would increase 6.3 times to arrive at a market size of US$ 1.7 billion. It further keeps up the post-K-12 market will grow 3.7 times, making a US$ 1.8 billion market.
Various factors add to the outstanding extension of India’s eLearning market and the Edtech app development scene. The fast multiplication of smartphones, expanding admittance to quality Internet services, a consistent ascent in the extra income of middle-income households, and a huge youth consumer base is significant drivers for India’s flourishing Edtech industry.
With emerging technologies like AI, IoT, and AR/VR fuelling Edtech application development, teachers would now be able to customize learning experiences for students across the globe. As Internet access is entering each niche and corner of our world, the interest in inventive eLearning solutions is likewise soaring.
The greatest advantage that Edtech offers is cost-efficiency. All things considered, it is a lot simpler to give quality Internet services than set up an actual educational institute! This is the reason educational institutions and partnerships are inclined towards Edtech application development now like never before.
Whenever utilized right, technology can help defeat any issue and scaffold the learning hole during such dubious times. Here are five tech drifts that will vigorously impact the Edtech application advancement scene by 2025:
1. Artificial Intelligence
Artificial intelligence will be one of the main advancements overwhelming the Edtech sector. The most recent reports gauge that the worldwide market for AI in education will develop at a CAGR of 47%, arriving at US$ 3.68 billion by 2023.
Computer-based intelligence will be one of the fundamental progressions controlling the Edtech region. The latest reports measure that the overall market for AI in tutoring will create at a CAGR of 47%, showing up at US$ 3.68 billion by 2023.
With regards to Edtech mobile app development, AI can be utilized for content creation, customizing learning measures, performance evaluation, automating grading, and real-time communication. Besides, educational institutes can utilize AI applications like facial acknowledgment to track attendance and forestall unapproved people’s entrance into the grounds.
Like AI, the Internet of Things (IoT) technology holds tremendous potential to change the advanced digital learning space. For example, schools can utilize IoT sensors to share the presentation assessment reports with students’ parents/guardians. They can likewise permit guardians to monitor their child’s attendance in real-time.
By 2023, the worldwide market for IoT in education is projected to develop to US$ 11.3 billion at a CAGR of 18.8%.
Blockchain is not, at this point, restricted to the BFSI sector. Today, it is acquiring expanding fame in Edtech application development, on account of its decentralized and permanent nature. The worldwide Blockchain market size will grow from US$ 3 billion in 2020 to US$ 39.7 billion by 2025, at a CAGR of 67.3%.
Blockchain tech can take into account conveying excellent educational encounters to students. For instance, Blockchain can encourage communication among tutors and students in a safe environment and empower data sharing among colleges for student transfer, scholarships, and semester exchange. Foundations can utilize Blockchain records to store sensitive data and records safely.
4. Immersive Learning (AR/VR/XR)
Immersive Learning controlled by Augmented Reality (AR) and Virtual Reality (VR) is revolutionizing education. AR/VR tech can establish visually appealing learning conditions by fusing a blend of virtual components and situations. The best part about Immersive Learning is that it empowers learning through experience. As indicated by an Accenture report, experiential learning is an exceptionally compelling learning approach that can improve the learning quality and knowledge retention by almost 75%.
For instance, biology students utilize Immersive Learning to see theoretical ideas in 3D and recreate basic medical procedures to hone practical skills.
Chatbots are the new fury across various industries, and for what reason should education fall behind on receiving this pattern! Artificial intelligence controlled bots can comprehend the human intent behind inquiries, solicitations, and grievances, and react in like manner.
Educational institutes can integrate chatbots in their Edtech applications for an upgraded user experience. AI-enabled chatbots can take FAQs to the following level by resolving user inquiries and offering ongoing help. Since chatbots can speak with people, they can address inquiries on various issues, including course subtleties, course expenses, and so on. Aside from being amazing client assistance devices, chatbots can pave the way for secure input, both for students and teachers.
Disruptive technologies have just started to change the essence of the education industry. The incorporation of arising tech patterns in the Edtech application development process delivers new and energizing learning opportunities for students and working professionals. The best part – Edtech arrangements fuelled by trendy innovations like AI, ML, IoT, Blockchain, and so on, are making learning fun, comprehensive, and reasonable for students all over.
Photo by William Iven on Unsplash