Current Trends in Educational Technology
A clear indicator which implicates that education technology may be a big deal, is that the number of billionaires that the education sector has created. In China, Among 400 billionaires, seven belong to the Chinese education industry. The richest among them was Li Yongxin, cofounder and therefore the chairman of Shenzhen-listed Office Education Technology. a corporation that gives online also as offline training for people who are choosing government officials examinations.
A recent Deloitte report states that by 2025, the Chinese education market is predicted to succeed in $715 billion. So, in future, we’ll be witnessing many billionaires from the Chinese EdTech industry. But, it isn’t just the Chinese market which is seeing the boom of education technology. consistent with EdWeek’s Market Brief, 15% of the faculties within the USA are going to be having a group of VR classroom kits by 2021.
A new report by London & Partners and Dealroom, reveals that London holds the position of the highest destination for EdTech investment in Europe, with $630 million invested into London-based EdTech companies. it’s the sole European city among the highest 10 destinations for EdTech VC investment value. the primary four positions are held by Beijing, San Francisco , Shanghai, and Bangalore respectively, which clearly states that China dominates the worldwide EdTech market.
Impact of Covid-19 on EdTech
The Covid-19 outbreak has brought many disruptions to the business scenario globally. The education sector has, however, seen a positive change with global EdTech investment growing by 15% in 2020. The coronavirus pandemic has made the planet realise how technology are often utilised to support learning.
EdTech experts believe that improved access to education has introduced new learning opportunities for the planet . The increasing availability of online courses means those that don’t have access to world-class education, can now learn without having to pay extortionate fees. as an example , Coursera realised 10.3 million enrolments within the first thirty days of the pandemic. it had been a huge 644% rise compared to an equivalent period within the previous year.
This democratisation of education is that the positive outcome of the coronavirus pandemic, which we should always still promote. The pandemic has made us realise that learning can happen anywhere and anytime. ThusScience Articles, the education industry must adapt to the new normal.