Technological advancements are changing the way we live our lives, how humanity tackles global challenges, and how we do business. Every industry is grappling with the break-neck speed of changes in technology – and education is no exception. In the past couple of years, there has been a massive change in the way students learn and how educational institutions work.
One of the biggest reasons for this disruptive change in the education field is EdTech startups. The easy connectivity, affordability of mobile devices, and advanced software have made it possible for everyone to access high-quality educational resources online. The Online Education Market size is projected to reach USD 53.13 Billion by 2027, from USD 8.4 Billion in 2020, growing at a CAGR of 30.15% during 2021-2027. {SOURCE} It is needless to say that EdTech startups have a massive opportunity up for grabs. Online EdTech startups deliver similar offerings at affordable prices as compared to traditional educational institutions.
Here’s why EdTech startups are all set to disrupt the education industry
Automation
EdTech startups provide efficient and intelligent online assessments with face recognition technology for attendance, admission automation and personalized learning. Automation also makes it easier to hold reliable and interactive online assessments with little or no manual effort from school administration. Online exam management systems go a long way in making the examination process easier for students and teachers.
The Need for Accessible & Flexible Education
Globally there are millions of children who are unable to access full-time education. There are various reasons for this, including lack of access to an educational facility, unavailability of qualified educators, etc. Technology improves access to education for everyone. Technology enables them to provide digital versions of textbooks and online classes at a fraction of the cost of physical classes. A college management system can help millions of students. EdTech startups are overcoming education barriers with such innovations every day.
Data-driven Insights for Smart Decision-Making
EdTech startups gather valuable data about the consumption of educational resources such as online classes, videos, digital textbooks and more. This data helps provide data-driven insights to enhance the educational experience for learners.
Promote Personalized Education
Traditional education formats are instructor-centric and do not cater to the individual learning needs of students. EdTech startups use emerging technology such as machine learning and artificial intelligence to offer in-depth personalization of unique learning experiences.
Rising Demand for Interactive & Immersive Education
Students are keen to explore advanced educational mediums that allow them to learn at their own pace and sharpen their skills. EdTech startups offer a plethora of interactive and immersive educational experiences wherein learners enjoy the process of education. The demand for such experiences is increasing at every level of education.
Key Technologies that Promote EdTech Innovation
Education needs to be made more flexible and personalized for the learners of today. Technologies like Artificial Intelligence and Machine Learning hold the answer for unlocking the next level of education innovation. EdTech startups leverage big data from IoT devices and other digital tools to create personalized learning experiences and better learning opportunities for all.
It is indisputable that EdTech startups are not only here to stay, but they will disrupt the education industry for good. Technology is changing the way we teach, how we learn, and how we hold assessments. EdTech companies leverage technology to create groundbreaking solutions for smart learning. Therefore, more education institutions worldwide are opting to use the inventive ideas implemented by EdTech startups to take learning experiences to another level.
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