India holds a significant spot in the worldwide education sector. India has probably the biggest network of higher education institutions on the planet. Notwithstanding, there is an ocean of potential and opportunities for additional development in the EdTech sector. Besides, the goal of the Government to raise its present gross enrolment proportion to 30% by 2020 will likewise help the development of distance learning in India.
India has the world’s largest population of around 500 million in the age limit of 5-24 years, which gives an extraordinary opportunity for the EdTech startup.
- The education sector in India was assessed at US$ 91.7 billion in FY18 and is relied upon to reach US$ 101.1 billion in FY19.
- The number of schools and colleges in India expanded to 39,931 and 993, separately, in FY19. India had 37.4 million students inducted in higher education in FY19. Net Enrolment Ratio in higher education sector expanded to 26.3% in FY19.
- India has become the second biggest market for E-learning after the US. This area is relied upon to touch US$ 1.96 billion by 2021, with around 9.5 million users.
- The education sector is assessed to become 3.7x in the following five years, from $2.8 Bn (2020) to $10.4 Bn (2025).
Indian Education Sector Poised for Growth
The EdTech startups have seen an explosion during the Covid-19 pandemic. While the more significant part of the Indian education sector centers around the K12 section and competitive exams preparation, upGrad likewise offers online degrees and diplomas by teaming up with the top universities. Further, declarations made in the Union Budget this year permitted the best 100 Indian universities, according to the National Institution Ranking Framework (NIRF), to offer degree-level online education programs. Right now, a few Indian universities offer online-based distance-learning programs.
Concerning the most successful Indian education sector, as indicated by the ‘Future of India’s $2 Bn EdTech Opportunity Report 2020’, capital inflows into the K12 and test preparation portions are similarly higher. Together, K-12 and test preparation will make 66% ($1.3 Bn) of allover online ed-tech market size by 2021. Skill development and online certification are required to represent $463 Mn of the Indian education sector, developing at a CAGR of 38% from 2016-21.
A Glimpse into EdTech future by 2025
EdTech isn’t only about lesson planning, either. It plays a vital function in how instructors, administrators, and schools work — and how well students are set up to prevail in an advanced digital future. As another decade sunrise, numerous individuals can’t help thinking about how EdTech will change. Here’s a glance at the development of technology in the education sector.
1. AR and VR will play a more prominent part of learning
Augmented reality (AR) and virtual reality (VR) are known in schools, and this trend is set to increment in the coming years. As per a study from the education market insight platform HolonIQ, the sum spent on advanced technology in the education sector will reach $12.6 billion by 2025, up from $1.8 billion in 2018.
This implies that AR and VR won’t only become parts of the education sector but also perform a crucial function in how lessons are learned and conveyed. By 2025, there might be more tools available explicitly intended, for this reason, making it more straightforward for teachers with a minimal technical background to change their learning climate.
Regardless of whether they’re presenting numerical equations or carrying historical figures in the study hall, classroom teachers will have more opportunities for utilizing AR than before in the history of education sector.
2. Mobile Applications will grow learning abilities
Mobile phones were initially observed as interruptions to the education sector; however, by 2025, lots of teachers will use them. Educational applications, also called e-learning applications, can be fun approaches to fortify ideas that students have learned in school. Consequently, they’re likewise ready to play a more significant part in homework, just as in the flipped classroom model.
Perhaps the greatest advantage of mobile applications is that they can be used at any place and anytime. This grows mobile applications’ capability to control adaptable, customized learning experiences, and improve the education sector. Later on, mobile applications may likewise be utilized to make more significant associations among educators and guardians.
Furthermore, mobile applications can help educators get more effective at content improvement, reporting, reviewing, and assessment.
3. Tech will improve parents’ contributions
Parent and guardian inclusion has consistently been a significant area of student achievement; however, it tends to be challenging for working guardians to be as involved as they need to be.
New communication innovation is ready to change the education sector, as indicated by Google’s report. In particular, in our current situation, where the two parents in practically 50% of two-parent families work full time, innovation is expected to encourage discussion among guardians and teachers.
By 2025, technology will progressively help working parents associate both to student work and educators to better the education sector. By chance that a parent misses a PTM, a virtual meeting can have its place. Communication advancements can likewise permit guardians to converse with educators directly through an application to devise another option if their child is battling in class.