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By Education Technology Insights | Tuesday, June 27, 2023
Half of all employees worldwide will need reskilling by 2025—and that number does not incorporate all the unemployed.
Fremont, CA: Seven key trends in the EdTech market in 2022, along with market and technology recommendations for those who are developing or scaling their EdTech solutions. We’ve outlined these seven key trends for EdTechs in 2022 below:
1. Data is ample and the key to emerging EdTech solutions
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Data is all over the place and more than just structured databases. IDC estimated that 80% of data is unstructured in images, documents, geospatial data, and more. EdTechs would like to withdraw more value from their data but can struggle to capture, store, and analyze the huge amount of diverse data they generate.
EdTechs must evolve a secure and modern data strategy to be competitive and effective. This can incorporate building a centralized data lake to store all structure and unstructured data, integrating with third-party data sources like learning management systems (LMS) to develop dashboards, provide customer analytics, and much more.
2. Artificial intelligence (AI) & machine learning (ML) power the recent generation of EdTechs
Spending on AI and ML is expected to grow to $6B by 2025. AI and ML enable EdTechs to develop alluring solutions like personalized learning experiences. But early stage EdTech startups are not always prepared to incorporate these technologies.
To solve this, EdTechs interested in ML should consider building a strategy for how to incorporate this technology into their solutions and create a plan to develop an initial ML model training framework. For instance, this strategy should include understanding how to accurately identify and store their data, developing an ML model using the data, and training the model before companies can transition their overall solution into an automated service.
3. Game-based learning transforms how students learn.
The demand for high-quality education utilizing technology has increased the adoption of game-based and gamified education strategies by education organizations.
4.EdTechs are at the cutting edge of digital transformation in the classroom.
Digital transformation is the broad term that describes the shift from analog to digital, integrating devices and internet connectivity into learning and the overall digitalization of processes and products to improve the teaching and learning experience.
EdTechs are offering solutions, like video conferencing, gamified learning platforms, and in-demand skills training, at the intersection of this transformation. In addition, the pandemic has increased EdTech adoption across all education market segments.
The requirement for the EdTech market from the institutional segment is driven by the advantages over conventional offline learning models, advanced technological infrastructure, and the extensive reach of innovative learning and training solutions. Consequently, this has created opportunities for EdTechs to attract new customers.
5.EdTech solutions are supplementing workforce upskilling.
Half of all employees worldwide will need reskilling by 2025—and that number does not include all the unemployed people. EdTech startups will play an integral role in upskilling the workforce, offering organizations worldwide digital learning tools for workplace training, personalized learning platforms to help employees and employers track progress, and micro-credentialing programs to help learners demonstrate mastery in particular areas.
6.EdTechs are called to support student well-being.
Educators, students, and caregivers employ EdTechs to address the long-term impacts of the pandemic. As such, EdTechs entering the mental wellness space must be focused on making sure that student privacy is taken into consideration.
As new solutions are developed, regulations like Health Insurance Portability and Accountability Act (HIPAA), General Data Production (GDPR), Personally Identifiable Information (PII) and Children’s Online Privacy Protection Act (COPPA) must be accosted when working with sensitive student data.
7. Augmented reality (AR) & virtual reality (VR) are top of mind.
By 2025 applications of modern technology in education and learning will turn progressively integrated into core education and delivery learning processes. Spending on AR and VR tools is projected to increase to $12.6B; double the expected spend on AI and ML. As educators, students, and caregivers continue learning the benefits of gamification and student engagement, AR and VR have emerged as new tools to support K12, higher education, and lifelong learning curriculums. With these virtual experiences, students can take field trips across the globe, exercise their cognitive skills, and engage in immersive learning environments at home or in the classroom.
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