The Indian Edtech sector was 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.
Prior to the pandemic, the Indian Edtech industry was steadily increasing its market share, with B2B and B2C businesses garnering investors, marketing capital, and revenue.
As a result of the pandemic’s worldwide impact, some firms and industries suffered catastrophic losses.
Nonetheless, the Edtech industry has stayed firm by constantly adapting and expediting digitization, allowing people across the country to have access to education quickly and effectively.
Edtech’s technological landscape
The contrast between what to adopt and what not to adopt from the pandemic model to the transition to a hybrid model has been clearly established for the whole industry.
Offline-based training facilities will use technology convenience for evaluation, certification, testing, and optional online training in the field of professional learning.
Edtech will advance their technology since they have the time and data analytics to ensure how to increase the customer experience.
The beginnings of virtual reality and augmented reality will be seen, although they will remain in their infancy.
Furthermore, we will see significant automation in their customer service, support, and, to a lesser extent, sales divisions.
The K-12 sector, on the other hand, will continue to use technology in the same way because it is already ahead of the professional learning segment in terms of technology adoption.
However, the top K-12 Edtech sectors may have made technological breakthroughs in their physical buildings by 2023.
Priority is given to accessibility
You’ve probably never considered it, but future educational technology will be more accessible and user-friendly for persons with impairments.
Accessibility is more than just being able to go about in a wheelchair or on crutches; it extends beyond that.
Physical accessibility is only one part of accessibility.
It is also about making content available to people who learn in different ways, have diverse levels of experience and competence, or any combination of the aforementioned traits.
Accessibility has always been an issue in the realm of education; but, with the fast improvements in technology that have occurred in the previous ten years, this worry has taken on even more importance.
If we want our students to succeed, we must offer them with access to a wide range of information, regardless of whether they are beginners or more experienced students.
Provider of employment
Education can reach every corner of the country with the use of education technology and investments in online education.
Because distance is no longer an impediment, any motivated student or learner living in the most remote region may now obtain a high-quality education.
Every parent and child may now fulfil their hopes for a better future.
There is an increasing demand for teachers as a result of online education.
The constant development and expansion of various learning platforms necessitates an availability of trained educators.
As a result, education technology and online education address two major challenges in the Indian education system: teaching the greatest number of students in the country and giving teachers and students with more job opportunities.
Examining the Edtech business structure
We can safely predict that the professional learning segment of Edtech will grow steadily in 2023; however, some organisations may choose a hybrid approach (physical space + online) to ensure they can cater to a diverse audience; given the k12 slowdown and chaos, it would be prudent to diversify ahead of time, especially in a growing sector.
In 2023, there will be cautious investment and cost cuts in the K-12 industry, as well as a seismic shift in these organisations’ orientation.
With inflation and resource concerns hurting the technology industry, we may expect significant investments in automation and technical developments to help create a more competitive environment for these students.
After learning its experience, the Edtech industry will not pursue an aggressive development strategy; rather, it will pursue a slow and planned expansion with regulated expenditures.
The digital world is no longer a choice; it is now an essential component of growth.
A panoramic viewpoint
In its infancy, the Edtech business has made its way into the majority of households and classrooms.
Binding textbook information and developing practical methods of tutelage has demonstrated a remarkable pedagogical strategy.
With the objective of making online education more accessible and cheap, the development of augmented reality (AR), virtual reality (VR), and extended reality (XR) is gaining traction.
Graduates of these programmes will have career prospects in high-paying sectors, and the influence on education as a whole will be revolutionary.
