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EdTech startups, with the help of better technological and innovative products, must focus on better learning outcomes, student engagement, and onboarding.
FREMONT, CA: The world is changing in ways that aren't covered in the traditional curriculum. The advent of EdTechs has also raised awareness of the importance of skill development rather than pursuing a graduate degree to obtain a suitable job.
Another factor to consider is the increased demand for professional, short-term courses because of the Covid-19 outbreak. Shutdowns and layoffs are affecting a vast portion of the workforce. People are also choosing corporate training programs to advance their careers and plan for post-pandemic work opportunities, and EdTech is making the process easier.
EdTechs have been disrupted due to the rise of online learning. From course designing and delivering to enrollment and student management, EdTech organizations depend on technology and automation. They employ CRM for enrollment and student information administration and learning management systems for the course and tutor management.
Gamification is assisting Edtechs the most in terms of teaching tactics. But to make their courses more dynamic and exciting, numerous organizations have recently begun experimenting with AR and VR technology.
The Driving Factors of the Edtech Industry
Low Cost of Online Education
Online education is cost-efficient than conventional education (school, college). Students have access to various e-learning systems through which they can obtain high-quality education at a low cost. Due to the affordability factor, students from all socioeconomic backgrounds and social classes can benefit from high-quality education with appealing visuals and experienced teachers.
Governments Promoting E-learning
Governments of different countries are launching measures to promote online learning in their own countries.
In addition, due to the country's lockdown regulations, the governments are pushing heads of Higher Educational Institutions to convert to online means of education to avoid disrupting academic sessions.
Increasing Number of Edtech Startups
According to research conducted by a platform that analyses startups and private firms, many EdTech startups have started operating in the last few years. These edtech businesses provide innovative classroom solutions, adaptive learning platforms, learning management systems, and collaboration platforms by leveraging technology to deliver the highest quality of service.
Together with inflows of investment, acquisitions, product upgrades, and more players fast shifting and adding students, and all these elements are speeding up the digital learning revolution in the countries.
See Also: Top Education Technology Companies