No more amazement and excitement left now when we consider the radical changes choice tech has caused to our education and learning process around the world.
This is more so because such have now ingrained deeply in our daily life and gets entwined with our civilization and the best part is that the innovation is still in motion. Tech news updates in India.
The edtech trends in 2023 which are likely to call shots in this year are summed below:
1). Adaptive Learning: Tech news updates in India.
In India, our education framework is hugely marked by stubbornness and complexity. But there are students with specific needs and our tech stalwarts vouch for adaptive learning phenomenon in a bid to carve out tailored learning occurrences. Tech news updates in India.
Until the beginning of 2020 (or say pandemic) at most places across India and elsewhere, learning was largely confined to brick-and-mortar classrooms (offline mode) but this framework has been heavily digitized now and as an outcome, we find learning getting more flexible.
Learning itself is a dynamic process and the method applied for one learner may not be palatable for another, due to varied bents of minds. This is where customized learning comes into play to lay down the groundwork for the best results. Tech news updates in India.
Now to log the best academic results, students are desperate for a framework where they could adhere to their studies and learn to their fullest ability. Tech news updates in India.
Schools and academic institutions are equipped with smart practices and grant enrollment to students in their preferred courses and they pursue digital arrangements now, to manage their progress smartly.
Similarly, for the students to seek excellence, weak areas need to be flagged, and customized tutorials ought to be designed for the best results. Tech news updates in India.
Adaptive learning also plays a significant role and students find this pretty immersive and more engaging. Tech news updates in India.
2). Gamification Mechanics: Tech news updates in India.
In the education and training sector, this is implemented for problem-solving and the students with varied learning levels, pull up huge benefits. Tech news updates in India.
Besides, with this gamification method of learning in place, it ensures strong memory retention too and thereby makes students more focused on their studies. Tech news updates in India.
Going by the popular media reports, in 2023, game-centric learning is expected to be implemented widely, in fact, with a massive 32% increase. Tech news updates in India.
Not mince words, edtech and gamification are the prime tech models which complement each other and immense corporate push is expected for such spread. Tech news updates in India.
3). Augmented Reality And Virtual Reality: Tech news updates in India:
Such has emerged at the forefront as the supreme digital frameworks and are also remarked as the jewels in the Edtech crown.
Learners are rid of old methods where they used to recall lengthy lessons and find a way towards self-growth. Tech news updates in India.
We now have virtual tools which unleash supreme benefits to youngsters which results in self-growth and lengthy and complex concepts are simplified. Tech news updates in India.
Undoubtedly, such are futuristic scenarios of education and are fast gaining ground across the world and the time is ripe for India too, to pick up the pace in such a race. Tech news updates in India.
4). Phygital Learning: Such is a concept referring to a blend of digital and physical modes of learning. Such is the new education technique which has proved to be highly result-oriented due to personalized education. Tech news updates in India.
We have uncovered an avenue where there is a confluence of online and offline methods of teaching. Tech news updates in India.
Now, with graphics and audio-visual animation, lessons are explained in progressive scenarios.
Counting further, such a teaching methodology is also a boon to teachers and parents/ guardians as they are able to tail the momentum in studies made by students and can initiate the necessary steps expecting enhancement. Tech news updates in India.
Simply put, now we implement learning through practicality and this has proved efficient too, as the desired quality level is achieved with constant feedback. Tech news updates in India.
Clearly, such innovation is a blessing in the academic framework and we register splendid outcomes aiming for career growth. Tech news updates in India.
As for the Edtech sector, such massive digitization is bound to push its horizons in just a few years to come.
We can easily foresee futuristic classrooms getting inundated with prime technology.
Opening Of Schools And Colleges Results In Curtailing EdTech Funding Boost:
- $4.21 billion in 2021 but in 2022, edtech in India could raise only $2.64 billion,
- Late-stage funding in edtech in 2022 was $1.97 billion while in 2021, this was $3.81 billion across India.
- Within the sector, test prep, a sub-sector got the lion’s share as the edtech in this area raised $1.13 billion in the preceding year.
India is a big country and so is our edtech framework we have registered 395 start-ups that function in form of 7 sub-sectors, i.e. test prep, K-12, and edtech SaaS among others and such have raised $10.13 billion in the period between 2014 through 2022. Tech news updates in India.
Until the first lockdown in India, there was a lone sun shined across the edtech landscape which was BYJU’sTtech news updates in India.
The door of the homes was shut but the door of this sector was thrown open for massive funding boost and the idea of online academic service appealed to all and sundry. Tech news updates in India.
As the investor sentiments ran higher, BYJU was pushed into prominence. In fact, the last three years have been pretty favourable to the sector as 6 edtechs have blossomed into unicorns now and the sector has witnessed a tremendous surge in funding practices. Tech news updates in India.
Funding Pace Hindered And Funding Plunged deep by 44.18%: Tech news updates in India.
But in 2022, the pace of edtech start-ups in raising funds was disturbed and as schools, colleges, and coaching points re-started their operations normally like before, such a promise of online education also got a hit. Tech news updates in India.
8K Workforce Shed From Edtech Start-Ups: Tech news updates in India.
Initially, as funding found a steady flow, hiring was carried out on a mass scale, but as things changed and schools, colleges and coaching centres were reopened, it resulted in the fall of demand for online education. Tech news updates in India.
This made investors very spooky as they looked for assurances to safeguard their investments. Tech news updates in India.
Their interest in the sector weakened and funding flow disrupted the whole edtech ecosystem and start-ups relied heavily on investments rather than on earning money and profits. Tech news updates in India.
Further, a handful of other factors like the grim geopolitical situation, hike in interest rates, and apprehension of a strong recession brought further gloom into the system. Tech news updates in India.
In the past year alone, around 17 stat-ups have axed about 8041 employees and five of these have ceased operations, namely, Udayy, Qin1, Crejo Fun, Lido Learning, and Super Learn.
Should We Keep Our Fingers Crossed? Tech news updates in India.
In the year just flown by, the edtech start-ups in India were compelled to reset their business strategy to earn more profits. Tech news updates in India.
This was because the edtech businesses expected the bull would continue to run but things changed the course and schools, colleges, and academic institutions opened and re-launched their operations like before. Tech news updates in India.
Mr. Manan Khurma, founder of CueMath is against companies getting harsh on their workforce.
“Edtech businesses must be cognisant of their bloated CAC (customer acquisition cost) and shrunken LTC (lifetime value) as it will lead to further increase in cost”.
He added, “sustainability in terms of profitability and not valuation must become a fundamental tent for the country’s edtech start-ups.” Tech news updates in India.
Then, Mr. Mukul Rustagi who co-founded Classplus, an edtech unicorn, maintains that certain sections like upskilling, vocational training, and government exam preparations would always win the hearts of youth conscious about their career and such would proliferate luxuriantly this year too.
Let’s see how things unfold dear reader. We are here to keep you updated with the latest tech news updates in India.