Covid-19 created a wave of challenges in its path, from lockdowns, the high street closing and the healthcare industry being put under more strain than ever. But let’s not forget a sector that not only had to dive into the unknown but also needed to come up with a solution quickly to adjust to the changing world.
When the pandemic started, the education sector needed to rapidly change and take learning fully online. For some, this was for the first time which introduced even more challenges with ensuring learners had the technology they needed to take their lessons on screen.
As a result of this, Edtech (educational tech) businesses had a fantastic opportunity to bridge the gap for digital learning as venture capitalists invested $20.8 billion in the Edtech sector globally in 2021 which is more than 40 times the amount they invested in 2010. The Edtech market soared and demand for digital products soon rapidly increased by introducing a combination of IT tools and practices aimed at enhancing and implementing learning.
Fast forward to this year and learners are once again back in the classroom, but now the use of technology is still accelerating and Edtech founders are in demand to create new products that are accessible to all. Despite greater use of technology in the classroom, this isn’t accessible by every school or learner, creating an even bigger digital divide gap than before, so how do investors close this gap?
Keeping up with innovation in education is going to become essential for the sector moving forward and as the market grows, more opportunities should be offered to all. Online learning in 2020 only just scratched the surface of what could be achieved and EdTech founders are paving the way to create attractive learning environments for students by mixing the virtual elements with the classroom environment to promote practical learning – a reason why the demand for Edtech has accelerated.
From hearing the global Edtech market is predicted to reach a value of $410.2 billion by 2026, it suggests that Edtech is not going anywhere. Improving learning and teaching is the main goals and driver for Edtech, and technology is bringing a new class of products to the classroom.
Do you think the growing demand for digital services in the classroom is here to stay?