A massive transformation of the entire education sector is underway due to the Covid-19 pandemic. Technology is the driving force behind the new-age solutions steering the demand in the educational sector. A developing ecosystem is in place with the new players working on value-based products and services.
There is a significant impact of technology-driven products and solutions for online education to become mainstream. Numerous solutions are available online nowadays that help students get supplemental education. These e-learning solutions are acting as an aid for primary education too.
There is a growing importance of technology’s use in better assessment, teaching, learning, and training phases. Students can seek solutions for their projects or homework from experts online via services like Sweetstudy. Widespread coverage of subjects and topics with personalized support is changing the entire educational experience. These services are pioneering in such initiatives and helping inculcate overall change.
Technology Driving Growth
The rapid advancement of digital technologies and the rise of the tech-savvy population are propelling the growth of technology in education. An accelerated change in consumer behavior is evident due to the changing macro variables.
It has led to the immense growth of the online education system and the development of an online education value system. In two years, the e-learning market doubled in market value globally. The market size of e-learning was US$ 101 billion in 2019, which became US$ 254.80 billion in 2021. Experts forecast the online education market will become 605.40 US million dollars by 2027.
The fresh investments are helping the EdTech companies to have innovations and higher adoption of the latest AI-ML technologies. The future of online education will continue to depend heavily on technological advancements and breakthrough trends transforming how educators impart education today.
The Future Trends
Numerous trends are helping the EdTech solutions to have more takers and drive demand in the sector. Below you will find some of the trends that have become critical to support a few key features of the EdTech company’s offerings.
Growing AI Adoption
Machine learning and artificial intelligence have become the prime catalyst to drive the expansion of the online education sector. These can provide effective and relentless learning solutions to newly tapped segments. AI can help get on board new learners by evaluating the available data.
Adaptive learning and customized education processes are becoming popular due to AI and ML.
Demand for Micro-learning
There is a significant transformation from recording videos for reference to using them for micro-learning. A sizable market exists for interactive tests, practical assignments, short readings, and bite-size videos. These can provide on-demand solutions for the learners.
Gamification Is the New Spark
The entire digital ecosystem is relying heavily on gamification. The technology companies are utilizing this to motivate the user, for example, either to take up a regular investment regime or to follow a healthy lifestyle. Online education is no different. Learners can track their improvement in real-time and complete the courses with ease.
Extended Reality (XR)
The last few decades saw a rapid growth of augmented and virtual reality. These are transforming how education is becoming available to the previous mile learners. The non-availability or scarce teaching resources has been a concern area for the education sector for a long time.
The use of these methods is helping to bridge the gap. You will also see a rise in mixed reality and extended reality in the education sector. These are helping to provide the learners with engaging, interactive, and similar to real learning experiences.
In-Demand Blockchain Technology
Blockchain technology is on the rise, backed by the demand for cryptocurrencies. Blockchain technology can provide reliable and secure solutions in the education sector too. Educators can have seamless recordkeeping and use smart contracts to secure content delivery.
Students can have access to digital certification after payment via a blockchain network. However, the existing online education service providers are yet to explore the full potential of blockchain technology. The better utilization of smart contracts can enable a 360° change in the education sector.
The trends listed above are a few emerging ones in the online education space. The EdTech companies should focus on their e-learning platforms and improve their learning management systems. These steps can help to increase security and reduce data leakage.
Another aspect that needs attention is working on capability enhancement. Every student does not have access to a higher bandwidth network device. Making online education modules easily accessible for all can be a game-changer.