As the pandemic has demonstrated, nothing can stop or slow down the spread of education. The education sector had to undergo a significant digital transformation after the coronavirus forced educational facilities to close their doors. This came as a fantastic opportunity for edTech businesses, as the market is predicted to grow tenfold from $1.8 billion in 2014 to $10.4 billion in 2025, representing a ten-fold increase in market size.
The educational sector has been quick to accept and utilise electronic media that offers content in a fun and engaging way. The active web users, which stood at 205 million in 2019, have now risen to 503 million, demonstrating the pandemic’s effects. Since internet penetration and usage have increased by leaps and bounds in India, this new audience has a large pool of people who are always seeking edTech solutions, indicating that this industry will continue to grow.
Students seemed to have no alternative but to participate in online lessons for the past couple of years. Even while school systems toiled to put their virtual learning facilities in place, Indian tech businesses made a difference as there was a massive influx of students on these platforms. The well-known platform BYJU’S offered all of its material on the app freely accessible for all learners. Furthermore, interactive live sessions were commenced to enhance student participation. As per experts, this likely brought BYJU’S a fresh surge of participants, propelling it to draw an additional BYJU’S hit 150 million users, up from the 80 million it reached earlier in 2021. As of early 2021, BYJU’S surpassed 80 million users, 5.5 million of whom are paying subscribers. As of September 2020, BYJU’S learning app added more than 25 million new students to its platform due to lockdown. And an 86 percent renewal frequency makes Byju’s a decacorn with a valuation of about $22 billion.
According to research by SimilarWeb of 35 most popular virtual educational venues, the edtech sector exhibited a 26 percent rise in consumer visits between April 2019 and March 2020 compared to the same period in 2018–19.
Based on a similar model of offering learning solutions for school students as BYJU’S Bangalore-based Vedantu chose to engage parents and schools during the pandemic. As a platform providing individually tailored and live learning experiences, Vedantu has collaborated with schools across numerous cities to give students an unhindered education during the pandemic.
With Vedantu’s personalised platform, schools can use their instructors to conduct lectures. Schools may utilise their resources or those provided by Vedantu. Moreover, Vedantu enables its master teachers to tutor pupils on a volunteer basis.
Other adaptive learning apps like Khan Academy and Tailor-ED continue to embark on a journey of success. Based on AI technology that personalises content to fit the student’s capability, understanding, and previous experience, these apps have virtual tutors that can make learning less intimidating and more effective. Bringing in the voice assistant that gives instant feedback makes these perfectly fit the role of a human educator. These voice assistants can even work to remind you of deadlines and homework. These adaptive learning apps break all barriers and make quality education accessible to students of all languages and disabilities.
Savvy Enchantress 