Before the pandemic, the Indian Edtech sector was gradually gaining market share, with B2B and B2C enterprises attracting investors, marketing cash, and revenue. As a result of the pandemic’s global impact, several companies and sectors sustained devastating losses. Nevertheless, the Edtech business remained steadfast by rapidly adapting and speeding digitalization, allowing individuals from throughout the nation to obtain access to education swiftly and effectively.
The tech terrain of Edtech
For the entire industry, the distinction between what to adopt and what not to adopt from the pandemic model to the transition to a hybrid model has been clearly outlined.In the area of professional learning, offline-based training facilities will employ technological convenience for assessment, certification, examination, and optional online training. Edtech will take their technology to the next level since they have the time and data analytics in place to assure how to improve the client experience. One will witness the beginnings of virtual reality and augmented reality, but they will be in their infancy. Additionally, we will see a substantial level of automation in their customer service, support, and, to some extent, sales departments. The K-12 sector, on the other hand, will maintain the same approach to technology because it is already ahead of the professional learning segment in terms of technology adoption.However, by 2023, the top K–12 Edtech segments may have created technology-based advancements in their physical facilities.
Accessibility is priority
You probably haven’t given it much thought, but the educational technology of the future will be more accessible and user-friendly for those with disabilities. Accessibility is more than simply a question of going about in a wheelchair or on crutches; it goes beyond that. Physical accessibility is just one aspect of what accessibility entails. It is also about making material accessible to individuals who learn in a variety of ways, have varying degrees of experience and expertise, or any combination of the aforementioned characteristics. Accessibility has always been a concern in the field of education; but, in light of the rapid advancements in technology that have taken place even in the last ten years, this concern has taken on an even higher priority. If we want our students to be successful, then it is imperative that we provide them with access to a wide variety of materials, regardless of whether they are novices or more advanced pupils.
Furnisher of jobs
With the assistance of education technology and investments in online education, education can reach every part of the nation. Since location is no longer a barrier, any interested student or learner residing in the most distant place may now get a high-quality education. Now, every parent and kid may realize their dreams of a brighter future.
Due to online education, there is a growing need for instructors. The daily growth and expansion of several learning platforms require an abundance of skilled instructors. Therefore, education technology and online education tackle two main issues in the Indian education system, namely, educating the largest number of students in the nation and providing instructors and students with greater employment prospects.
Palpating the business framework of Edtech
We can safely conclude that the professional learning segment of Edtech will experience steady growth in 2023; however, some organizations may opt for a hybrid approach (physical space + online) to ensure they can cater to a diverse audience; in light of the k12 slowdown and chaos, it would be advisable to diversify beforehand, especially in a growing sector. In 2023, there will be cautious investment and cost savings in the K–12 sector, as well as a seismic change in the emphasis of these organizations. With inflation and resource issues plaguing the technology business, we can anticipate that substantial amounts will be allocated to automation and technological advancements, which will help create a more competitive environment for these students. The Edtech industry having learned its lesson, none of them will adopt an aggressive strategy; rather, it will be a gradual and planned expansion with controlled expenditures. No longer an option, the digital world is now an important component of progress.
A panoptic perspective
A marquee and majestic sector in its infancy, the Edtech industry has paced its way into most homes and schools. Binding the textbook knowledge and finding practical ways of tutelage has shown a miraculous pedagogical approach. The development of augmented reality (AR), virtual reality (VR), and extended reality (XR) is gaining momentum with the goal of making online education more accessible and affordable. Career opportunities for graduates of these programs will be in high-paying fields, and the impact on education as a whole will be revolutionary.