The year 2019 has brought significant clout to the ever-burgeoning credibility of the EdTech sector. It’s time to look at numbers and predictions.
Internet completes half-century
Internet usage exceeded half a billion mark in India in 2018 and is now stands at 627 million. A number that has seen an annual growth of 18%, the EdTech industry is making the most out of it.
Growing number of paid users
Over the years, the country has become the second-largest market for e-learning after the US. The sector is expected to reach USD 1.96 billion by 2021 with around 9.6 million paid users.
Acceptance level is much higher among science students with 86% share. Though there is a spike in almost every arena but the science is certainly leading the way with the likes of commerce and bio not legging behind.
Changing face of tution culture
Given the prevalence of tuition culture in India in the K-12 segment, with currently more than 80 million students taking tuition to supplement their school education, by 2021, 771 million students are tipped to enrol in at least one category of e-classes. It is still a big fight against the small town traditional tution culture but clearly some territory has been won by the online learning. The next decade is going to be invasive and interesting at the same time for this segment.
Smartphones are paving the way
There are more than 300 million smartphone users in India and the number is projected to rise by 500 million in the next two years. E-learning providers and youtube educators, alike have created and designed their platform and content respectively to be accessible by smartphones. The interface of the applications is also compatible even in the low-end phones, making both the tech and content accessible by the remotest end user.
Helping hand from the governments
Initiatives like Swayam, E-Basta, Rashtriya Madhyamic Shiksha Abhiyan will provide the means and infrastructure needed for students to enroll in online education courses.
Reskilling is being done at a faster pace
India is projected to inject 280 million job seekers in the job market by 2050. This reflects the level of competition in the job market. Due to intense competition, job seekers, as well as providers, are proactive in attaining the required skills before entering the corporate job race. And even after entering the fray, it helps immensley to keep on learning new skills and keep oneself updated and ready to face rapid changes.
Virtual reality takes things to whole different level
VR modules in science and maths created by startups like Veative for high school students are bringing the a-game to the already changing canvas of education. Tech such as this enables students to understand the subject matter on a broader dimension.