Ed-Tech industry sees a steady growth after Covid pandemic
The use of technology, including hardware, software, practice, and educational theory for a student’s entire growth is known as education technology. The term “ed-tech” describes businesses and organisations that specialise in developing educational technology. It incorporates online learning, computer-based training, mobile learning, and many other learning methods. It is proper to integrate technology into education to produce beneficial and constructive results. It also encourages a diverse learning environment for pupils of all ages and locations.
After China and the United States, India has risen to become one of the top three countries in the world for receiving venture capital funding in the ed-tech industry. India occupies a significant position in the global education sector. With 260 million students registered in more than 1.5 million schools and roughly 39,000 colleges, making it one of the largest networks of higher education institutions in the world, it offers a profitable prospect for monetization as well as social growth.
The ed-tech startup explosion that followed the global epidemic has revolutionized the education industry. Education technology and online learning allowed for uninterrupted learning even while schools, universities, and coaching facilities were closed for days or even months at a time. The online education market is expected to reach $11.6 billion by 2026, according to projections. These figures imply that educational technology (ed-tech) is not merely a short-term adaptation to the COVID times, but has established itself as a long-term answer to all the problems the education industry has previously faced.
Another critical driver of the Ed-Tech industry is the growing adoption of artificial intelligence (AI) and machine learning (ML) technologies. AI and ML are increasingly being used to create intelligent learning platforms that can personalize learning experiences based on the learner’s individual needs and preferences. These platforms can analyze student performance data to identify areas where the learner may need additional support, and provide targeted recommendations and feedback to help them improve.
The rise of online learning and educational technology seems to have increased access to education. It is always growing and daily achieving new heights. Online education has no demographic restrictions, so anyone with a smartphone and an internet connection can learn new things. With the help of partnerships with Indian schools and universities, many renowned foreign universities are now able to offer a wide range of courses online, sparing students the time-consuming process of moving abroad and the cost of large student loans. Students can now easily obtain a top-notch education from the convenience of their homes.
The education system has become so flexible that, anyone can learn anything from anywhere, after the critical times of the pandemic, we have discovered that technology can be able to provide education to students, as many Universities, as well as schools, have adopted the online mode of education which gives a great boost to the ed-tech industry. Through the help of these online facilities, one can learn any course from anywhere in the world, by this ed- tech industry has become the future of India.
Manish Mohta is Director, Learning Spiral