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Traditional educational institutes experimented with anything from simple communication options like video conferencing to high-tech solutions produced by edTech giants.
FREMONT, CA: It is worth stressing that 2020 was a watershed moment for edTech startups. Even the traditional education system was thrown to its knees as the pandemic caused devastation across sectors and industries. Besides, there was an immediate need for technology developments to maintain the flow of knowledge flowing to the students. Traditional educational institutes experimented with anything from simple communication options like video conferencing to high-tech solutions produced by edTech giants.
Trends for 2021
Upskilling or Reskilling Will be A Crucial Component
Beyond education, edTech will have an impact on upskilling and reskilling. The pandemic has demonstrated how quickly work can evolve. Upskilling and reskilling remained flexible in the aftermath of Covid-19. As Covid-19 has greatly accelerated organizations’ digital transition, the trend is anticipated to continue in 2021. Organizations have begun to make decisions based on data. Several reports claim that businesses are rushing to invest in artificial intelligence, analytics, automation, and digitalization to ensure their future in an ever-changing environment. Apart from that, there is a rise in demand for additional marketing opportunities.
As EdTech Startups Ramp Up, Remote Learning Will Take the Lead
With increased interest from the government, customers, and investors, the sector will see even more entrants across all categories. As customers become more open to getting an online education, there is a growing opportunity in ‘study now, pay later' for skill development, virtual simulation settings that can offer an interactive learning experience, and test preparation solutions.
In 2021, edTech will take off on a solid basis for the first time. Given the significant concentration of investment among a few competitors, entrepreneurs must consider how to stand apart. Well-funded players will almost certainly begin to offer options for all age groups shortly. As a result of this concern, investors will be more selective when selecting early-stage firms to support.
Ultimately, in 2021, the edTech industry will be more inclusive, policy-friendly, and full of chances for startups seeking to make remote learning more cost-effective, simple, and accommodating. However, access to the internet, electricity and devices such as computers and smartphones will continue to be a serious issue.