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EDUCATIONAL TECHNOLOGY AND ITS MARKET

What is Educational Technology: Educational Technology refers to external technologies like Use of Computers/Desktops, internet, Simulations, Animations, Content Authoring Tools
These technologies can be integrated into a teacher to the student learning environment to enhance the process of achieving the teaching-learning goal
EdTech Business Models: The EdTech sector is primarily divided into 5 categories; Test Preparation, Online Certification, Skill Development, Online Discovery and Enterprise Solution
Technology as an enabler for EdTech: The new technologies like AI(Artificial Intelligence), ML(Machine Learning), Data Science, AR(Augmented Reality), VR(Virtual Reality), BlockChain, Gaming, Robotics and Stem are going to be the trendsetter to enable the Educational Technology.
AI(Artificial Intelligence): It is the branch of Computer Science that emphasizes the development of intelligent machines, thinking and working like humans. For example speech recognition, problem-solving, learning and planning
It is expected that by 2024 47% of learning management tools will be enabled by AI
ML(Machine Learning): It is a branch of AI
AR(Augmented Reality Technology): It adds digital elements onto a smartphone camera. AR alters a surrounding a bit by adding 3D objects, sounds, videos and graphics to it.
VR(Virtual Reality Technology): The virtual reality we are talking about is the one created by computers that allows you to experience and interact with a 3D world that isn’t real
The use of these immersive technologies AR/VR will become more popular and accessible in the days to come within the classroom
GAMING: Gaming refers to playing electronic games, whether through consoles, computers, mobile phones or another medium altogether. Though this technology we use games that impart education or make learning fun. It is one of the emerging trends in education. The perception needs to be changed amongst parents, teachers and students in terms of learning games rather than computer games
STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS): STEM is an approach to learning and development that integrates the area of Science, Technology, Engineering and Mathematics.The stem is a new application based learning/education system being followed by many top schools in India in their Curriculum. Some people have added ‘A’(Art) to it and call it STEAM
BLOCKCHAIN: Blockchain is a distributed ledger technology (DLT) that allows data to be stored globally on thousands of servers – while letting anyone on the network see everyone else’s entries in near real-time. Blockchain can improve the educational system in many ways. It is the perfect technology to secure information storage, sharing and networking
ABOUT EDUCATIONAL TECHNOLOGY MARKET
Indian students are warming up to EdTech platforms to enhance their learning experience. The EdTech market is growing continuously at a CAGR(Compound Annual Growth Rate) of 49% and is projected to reach $ 1.96 bn by 2021 with around 9.5 million users. The country will become the second-largest market globally after the US
EdTech Ecosystem: India is now believed to have around 3500-4000 EdTech startups offering OTT mobile/desktop applications with education/coaching for different subjects
EdTech PE(Private Equity) Funding at Global Level: For India, in the last decade the figure is approximately $1.8 bn.
EdTech Companies in India: The companies to watch out in Edtech industry in India are: Byju’s, Unacademy, Vedantu, Great Learning, SimpliLearn, FlipLearn, E-Dac, Extra Edge, Lead squared, Aakash ESL, CueMath, Netcore, Add 247, Jigsaw Academy, Leverage Education, Udemy, Udacity, Next Education, Oda Class, Embibe etc

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