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How Big Is The Edtech Marketplace?

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The EdTech marketplace is undoubtedly reshaping school systems. Nowadays, students can easily access knowledge online, tutoring sessions with the click of a button and interact with content in newfound ways. The ubiquitous nature of apps and online forums has made it so that students cane more comfortable using media than the traditional learning tools. This blog stands to explore these questions.

How Big Is The Edtech Marketplace?

Apps and online tutoring sessions seem even more accessible than person-to-person engagement. While students would need to schedule time with a tutor or with their teacher outside of class time, it is far easier to go onto YouTube or search your question online. The ETIN (Education Technology Industry Network of SIIA) represents and supports developers of educational software applications, digital content, online learning services and related technologies across the K-20 sector. More and more money is being pumped into an industry that wants to answer to the nature of technology in the household.

Now nearly every young student has access to a computer or smartphone in some capacity. According to an article by Education World, the U.S. EdTech was an estimated $8.38 Billion in 2014, with no end in slowing down in sight. This is an industry that is growing at an accelerated rate to parallel the rate at which technology is now advancing.

With the rate at which the tech market is growing, educators have to ask whether or not these ESo instead of the EdTech Marketplace providing students with useful tools for students, it can turn into a futile attempt for technology to help students engage with content in a meaningful and productive way. In effect, the EdTech Marketplace stands to lose by not giving their audience the tools they need.

For instance, students that watch Khan Academy’s YouTube videos to learn a topic may be too distracted to focus on the video. Without a teacher present, a student is much more likely to get distracted, play on their phone and miss the entire premise of the video. Hffect of EdTech tools precisely, but the American school system is still many rankings behind what is expected. The U.S. was ranked 25th in the world in science and math education in 2015. Singapore and Hong Kong came first and second respectively. According to TechinAsia, Asia is seen as the next frontier in EdTech. The industry is projected to grow by 8 percent to the US $252 billion by 2020 in the global market.

However, this may not be due to the use of Edtech. Instead, culturally, the commitment to education is strong in those regions and has been for many years. Accordance of education in these households, they are willing to adapt to different learning climates. Thereby, using EdTech to shift the learning process. While the US is cation and to create an expectation that education comes first.

Since it appears the EdTech Marketplace stands to alter the face of education for many years to come, it is important to ask other questions related to the effect it will as well. How does the EdTech world affect the person-to-person engagement of learning? What does it do to students if they are not able to use the content to learn in person, instead relying on online tools to help them through the problem set?

Generation Z students who have grown up with laptops, iPads, and smartphones. So their brains have evolved in such a way that allows them to process more information at faster speeds than previous generations of to the social aspect of learning. Otherwise, it will merely be a tool in which students engage with a robot. The best way to counter this is by giving a student an authentic audience.

While some critics criticize the Khan Academy approach, it is helpful that on the other side of the screen is a real person. Learning then becomes a social act rather than a process of computing.

As technological tools advance and the EdTech Marketplace continues to fund learning in this way, then the marketplace must be ready to give students an interactive experience that can allow for better learning and retention of knowledge, while also improving the education system that has been seemingly failing students for decades. Perhaps the EdTech Marketplace needs to grow in order to figure out the best ways to adapt to the learning experience. The growing interest in EdTech shows that there is an interest in reshaping the education system to be a better tool than ever before and making learning only a click away.

posted Feb 12 in EdTech by Nakry

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To enter into the EdTech Landscape, every entrepreneur takes hold of some new goals other than the prior ones. Indeed, being an entrepreneur, stepping into the EdTech Industry isn’t easy. There come across many stages in the way where prospects of the education sector, customers’ selection, and marketplace transform and grant the learning opportunities for Entrepreneurs for the future. Here are a few aspects that make EdTech, the next Big Sector of Business & Education—

How EdTech Is The Next Big Sector

Understand the Education Sector

EdTech provides an in-depth analysis of the education sector so as to understand the immediate needs of both the students and the teachers. Indeed, the education sector is today running at the same pace as the Internet keeping in mind the customized interests of students with education going tech-friendly and students going tech-smarter. Today, students-teachers collaborate through sharing screens, adding peers, making online notes in minutes. If this is not a bigger accomplishment in the literacy sector, then what is?

Stay on top of EdTech Trends

To lose out on the latest EdTech trends is not an option for an entrepreneur which is why EdTech Landscape is something available to study and gain more experience. It is significant because dissimilarity to the trend creates an age of difference in the context of tech-knowledge. The motive can be fulfilled by building a foundation, reassessing technology standards and integration models, and progress innovation. In simple words, EdTech creates an outstanding platform for Entrepreneurs around the world to acquire knowledge and take bigger risks to accomplish.

Create Engaging and Unique Products

User-engagement is the primary source to accomplish your product when it comes to EdTech. Alongside, “uniqueness” of the product helps it come into the spotlight in the marketplace. Make sure, that product grabs the attention of the students & teachers & users around the globe. Keep the product focused on learning and progress. On the part of the instructor, innovation stands out as an essential ingredient here.

Keep vision and end goal in mind

As an Entrepreneur, what must be done is “do whatever it takes, don’t give up.” Giving the assurance of accomplished goal and overcome the current challenge, taste success while figuring out how to fulfil the final goal. Undoubtedly, with every step of success and change in the technology trend, the vision may change, however, the final goal cannot. Pick up every Technology trend to E-Learn and utilize the same to pace towards the completion of End Goal.

Understand the customer and its fear of change

Fear of change exists when technology detects the need of the user’s willingness in the marketplace. An entrepreneur’s job is not only to present technology for effective products in the market but also ensure that it corresponds to the needs of customers. Fluctuating Demand & Supply of products in the market could be consequences of external environment changes. These changes could be based on customers’ finding new ways of comfort, easy products’ access and so on. Make sure, the product is presentable to the customer with maximum benefit and minimum give away (cost).

Smart advertising

Advertising is important for any product if it is important to be seen by the users as well as the competitors. No matter how ground-breaking the product is if it is not in the spotlight and does not grab the attention of the audience, it is not worth it! Exploiting the power of magazines, web pages, social media sites, and digital marketing is valued. There are not social media platforms and real-time platforms where users have no reach. Advertising brings users and the product closer and connects them on the basis of needs and affordability.

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You may have missed it during the summer heatwave, but a very English education technology revolution was announced in the Daily TelegraphIt was the conclusion of intense months of work. There had been a fair amount of Post-it notes, flip charts and workshops involving educators, stakeholders, policymakers and businesses. There was positive support from a small team of Department for Education civil servants, all with a keen interest in education technology. 

Education secretary Damian Hinds demonstrated that he had “got” education technology by recognising that: “There is clear, untapped potential for schools, colleges and universities to benefit even further from the power of technology to support students to learn, reduce teachers’ workload and save money.”

'Are we finally seeing an Edtech revolution?'

Why did that take so long?

In 2010, the incoming the coalition government got started on major education reform with a “bonfire of the quangos”. In some ways good, it also led to the demise of Becta (originally the British Educational Communications and Technology Agency), the organisation tasked with supporting schools to use education technology, and meant we lost an important national conversation about education technology.

Despite the computing curriculum and a big dose of “robot fever”, there had been no real long-standing leadership for education technology in the DfE for years. Various task forces had seemed to suggest a start, stop mentality from government. In that time, England has fallen behind Wales and Scotland, which have, for example, created and developed national platforms – Hwb and GLOW respectively – to share and explore the impact of edtech on teaching and learning.

Systemic change is hard and it’s not that these nations have all the answers, but in England we desperately need to restart the discussion at a national level to find out properly how education technology can make a meaningful contribution. What’s also striking is that since 2010 there has been growing recognition, from other parts of Whitehall, that edtech is also important for the UK’s economy, for jobs and exports. Most recently, in 2017 the Digital Strategy, honed by Matt Hancock, MP, stated: “Education technology is one of the fastest growing sectors in the UK, accounting for 4 per cent of digital companies, and UK businesses have become world leaders in developing innovative new technologies for schools.”

A national strategy for edtech

This is welcome but it urgently needs to become part of a wider strategy for edtech so that there is a coherent approach across government. It is energetic minister Sam Gyimah who is charged with taking this forward.

Despite the wilderness years, progress has been made in the use of edtech by schools. It should no longer surprise that there are real areas of promise across maths with Sumdog, Hegarty Maths, Times Tables Rockstars and Doodle Maths. In reading, the support from ReadingWise and Pobble is impressive and the creative inspiration offered by Night Zookeeper or the immersive Now>Press>Play delights learners.

Scotland’s SpyQuest and Brighton’s Curiscope use the latest augmented and virtual reality for good. Esri UK leads the way in free geography mapping for schools and Crick Software pioneers inclusive edtech. UK organisations FutureLearn, Micro:bit and Raspberry Pi open up learning in new ways to millions of people across the globe.

There are also networks to support the adoption and understanding of edtech by schools and colleges. In further education, the Blended Learning Consortium is a positive example and came out of the good work by FELTAG (the Further Education Learning Technology Action Group).  And market-leading Apple, Google and Microsoft products invest in growing networks of trained, certified, educator ambassadors. But surely these corporate networks can work more effectively together to support adoption and understanding of edtech across schools, colleges and universities? Can we, for instance, create meaningful regional hubs of expertise across the country?

It is against this backdrop, that Edtech50 Schools, supported by Intel, is launching its hunt to find schools that demonstrate excellent digital leadership and practice. It’s needed because the education minister’s summer announcement is a start rather than an endpoint.

Our vision for Edtech 50 schools is that it will help to create a national, school-led network, and one that has the expertise to be heeded by the DfE. It needs to embrace a broad vision and be alive to the possibilities that technology can bring to every aspect of school life – for too long we have ignored the fact that educational technology can rationalise the back office as much as enliven and focus learning and properly support the teacher.

The positive work of groups of committed individuals, the Independent Schools Council Digital Strategy Group, the London Grid for Learning, schools and some multi-academy trusts suggest real opportunity and potential in strengthening the grassroots but with a national focus. Investing in innovation and educators to guide their peers reaps dividends.

Let’s hope this is more than just a short-lived, summer holiday edtech romance.

As we continue with another round of positive consultations on this education technology revolution; it’s good to know it’s already started around the country and beyond.

Now it needs focus, investment and leadership. And ambition.

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According to a study by KPMG in India and Google in May 2017, Internet and smartphone penetration in India has been growing exponentially, with the number of internet and smartphone users expected to rise to 735 million and 470 million, respectively, by 2021.

The rapidly increasing access to technology has transformed the framework of education, especially in the last decade.

As such, technology is the biggest factor impacting Indian education now, with digital content and classrooms, online assessments and cloud-based platforms augmenting the academic and administrative processes of the K-12 sector.

The dynamic nature of technology development entails drastic changes in the modes of instruction, assessment systems, and even the physical makeup of the classrooms in short intervals of time.

Education becomes a more creative process with innovation in all these areas and evolves to cater to the changing requirements of future citizen and society.

The education landscape of India is changing year by year, but some of the current trends are speculated to continue their impact in the coming years owing to further developments in these fields.

According to Beas Dev Ralhan, CEO at Next Education, India's only end-to-end education solutions provider, integration of technology in education will continue at a fast pace throughout the country, promoted by the formulation of government policies such as the one against overweight school bags.

These moves have facilitated the popularity of new-age pedagogies, empowering students with self-learning abilities through e-learning tools, as well as the adoption of experiential learning solutions for a holistic learning experience.

Experiential learning techniques, the use of artificial intelligence in education, and personalised

learning techniques are some of the major edtech trends which will continue to revolutionise the Indian education system in 2019 as well.

 

Experiential learning techniques

Experiential learning is a method of learning by doing in which learners engage in direct experiences that connect with an area that they intend to develop.

Learners are actively involved in defining problems, asking questions, experimenting, analysing results and constructing meaning.

It blends conceptual learning, hands-on activities, strategic planning, collaborative efforts and self-evaluative measures to foster all-around competence.

Experiential learning is being implemented in India in the form of virtual labs, social media platforms, virtual and augmented reality tools, and gamification of learning.

Virtual and augmented reality helps in creating an immersive, real-life experience in classroom learning via graphical simulations.

Gamification of learning is an effective pedagogy which maximises student motivation and engagement by integrating game elements in learning environments.

Virtual labs are interactive environments for creating and conducting simulated experiments based on real-world phenomena so that students can interact with an experimental apparatus or other activity via a computer interface.

This eliminates the problem of accessibility as well as the lack of physical infrastructures for lab-based learning, especially in science subjects.

Social media can be used as a platform for developing 21st-century skills such as communication, collaboration, and creativity.

Artificial intelligence and personalised learning

Artificial intelligence is the ability of computers to mimic human cognitive functions such as learning and analysing.

AI has made considerable inroads in various fields of academia across the world, such as administration, learning, tutoring, grading, and assessments, and India, as one of the leading developing nations, is no exception.

By coupling it with data analytics, it has been possible to create adaptive learning technology, a tech-mediated way of providing every learner personalised courses based on their ability and performance.

While such technology does not aim to replace teachers, it facilitates students in managing their own learning.

One of the key challenges faced in the education sector in India is that the assessments are not streamlined across institutions. Leading experts often question whether we are truly measuring the relevant competencies of a student.

This is especially important for teachers, as they need to be aware of their students' academic interests and abilities. In order to meet this challenge, computerised adaptive tests are the best solution.

Another challenge is the 'one-size-fits-all' method of teaching because no two students learn the same way; their learning pace and style vary.

Personalised learning based on human resources is difficult to achieve in India with its high pupil-teacher ratio and lack of adequate financial resources. AI-based learning solutions can solve this problem and personalise education in India successfully.

How Next Education is helping usher in new Edtech trends

Next Education offers experiential learning with its NextLab solutions for English, Maths, Science and Robotics. It has also launched adaptive assessments for CBSE Maths and Science, and are working on similar assessments for other subjects and boards.

Apart from these, its award-winning in-house content, consisting of digital books and HD animated videos available on LearnNext and TeachNext@Home solutions, allows students to independently bridge the gaps in their learning.

In addition, the online Q&A forum for doubt clarification, practice papers and solved NCERT papers for more practice, IIT foundation courses for future attempts in medical or engineering exams and Science resource kits help provide an all-around learning opportunity to learners.

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Edtech is really taking off in developing countries. Its growth has been stimulated by a mix of grassroots initiatives from local entrepreneurs in developing countries and aid from international organizations (such as the UNICEF Development Fund which has pledged $9 million to edtech initiatives). Here, we explore the ways in which edtech has the power to revolutionize education in developing nations and to vastly increase enrolment in education at primary, secondary and tertiary levels.

The Power Of Edtech In Developing Countries

Developing countries are often characterised by a lack of high-quality infrastructure. Poor quality roads and a dearth of reliable transport links can have a substantial negative impact on school attendance – and this includes both the attendance of pupils and of

Edtech surmounts these challenges by enabling learners to access online courses remotely. Poor transport infrastructure is thus no longer a barrier to learning. Moreover, the provision of free online courses along the MOOC model means that a lack of financial resources does not present a barrier to learning either. Theoretically at least, a student in a remote part of Sub-Saharan Africa could enrol for free in an online off-campus course at Harvard if they so desired.

The future is bright for edtech in developing countries as it provides a very real solution to the financial and infrastructure-related difficulties that learners in these countries often experience in their attempts to access education. Nevertheless, there are still several challenges to be met in order for edtech to achieve its maximum potential in the developing world.

One of the key challenges to m-learning and elearning is the lack of mobile phone and internet coverage. Though rates of mobile phone ownership in most developing countries are pretty high, access to online learning is often hampered by patchy broadband availability. In Sub-Saharan Africa, for example, full 3G and 4G coverage are not estimated to be available until after 2020. This threatens to exacerbate the gap in educational levels between developing and developed nations.

Overall, though, it is clear that edtech is a hugely beneficial resource for developing countries as it can provide high-quality distance learning to students in remote areas who previously had little or no access to education. Are you an educator or entrepreneur? Maybe it’s time to turn your attention to edtech in developing countries.

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