EdTech as a space which was a “Covid darling” sector, has come under fire recently with multiple unicorns in this space performing mass layoffs to stay afloat. Business models have been undergoing major tweaks to stay relevant in a post covid world. However, it is too early to write off the sector. We believe that there is a still a strong underlying growth story, and here are 5 trends that we believe will drive the EdTech story in India in 2023.
Growth in the use of artificial intelligence and machine learning:
EdTech companies in India are using artificial intelligence (AI) and machine learning (ML) to personalize the learning experience for students and make it more interactive and engaging. For example, AI and ML can be used to analyze a student’s progress and provide customized learning content and recommendations based on their needs and interests.
Greater focus on skills-based learning:
There is a growing emphasis on practical, skills-based learning in India, as employers look for candidates who are well-prepared for the workforce. This trend is being supported by EdTech companies that offer courses and training programs focused on developing specific skills and competencies.
Rise of mobile learning:
The proliferation of smartphones and other mobile devices in India has made it easier for students to access educational content on the go. As a result, there has been a significant increase in the use of mobile learning apps and platforms, which allow students to learn anytime and anywhere.
Greater focus on quality and affordability:
As the EdTech market in India continues to grow, there will be a greater focus on offering high-quality and affordable educational solutions. This could involve partnering with top universities and educational institutions to offer accredited courses, or developing innovative technologies that can deliver a high-quality learning experience at a lower cost.
Greater integration of technology into traditional education:
There is a growing trend towards integrating technology into traditional education in India, as educators see the benefits of using digital tools and platforms to enhance the learning experience. This could involve using technology to supplement classroom teaching, or using virtual reality and other immersive technologies to create new learning experiences. Overall, these factors are likely to drive growth in the EdTech sector in India post-COVID and help to transform the way education is delivered and accessed in the country.
Apart from these, the government of India has recognized the importance of EdTech and has implemented several initiatives and policies to support the growth of this sector. For example, the government has launched programs to promote digital literacy and provide funding for EdTech startups. These initiatives can further help drive the adoption of EdTech solutions in the country.