The Indian ed-tech sector is expected to increase from $6.4 billion in 2022 to $14.1 billion by 2028, according to the IMARC Group. The education scene has undergone considerable changes over the past 20 years due to the education technology (ed-tech) startup revolution, which has offered creative methods to learning and significantly increased industry growth. This article examines the revolutionary effects of ed-tech startups and identifies the major developments that have changed the face of education.
The education technology sector has grown dramatically, and India is now a major player in the world market. The Indian ed-tech sector is expected to increase from $6.4 billion in 2022 to an estimated $14.1 billion by 2028, according to the IMARC Group. The K–12 market alone was responsible for 44.3% of the total market value, demonstrating the enormous potential in this industry.
Two aspects of the ed-tech revolution have emerged: software and hardware. The introduction of digital whiteboards in schools has been a major advancement in terms of hardware. Less than 5% of classrooms are currently digitally equipped, despite the fact that the trend began a decade ago, underscoring the enormous unrealized market potential.
Particularly during the COVID-19 epidemic, various learning areas saw notable development in the software market. Ed-tech businesses that offer content, such Byju’s, Unacademy, and PhysicsWallah, were essential in giving students the means to complete their education at a distance.
The dynamics of the ed-tech business underwent a major shift following the COVID-19 pandemic, as students returned to their academic settings. This revealed the vulnerability of organizations who had not anticipated and embraced these developments. The unpalatable truth is now apparent: ed-tech businesses that were only concerned with content delivery are losing ground to competitors in the market. The significance of providing a thorough learning ecosystem that goes beyond the boundaries of conventional classrooms is now acknowledged by ed-tech enterprises.
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