Educational technology (EdTech) is the major trend of the decade

Photo by: Andrea Piacquadio

EdTech is a huge market and it’s only going to grow

  • There are more and more students. There will be 500 million more school and university graduates in the world by 2025. This growth, by the way, will be stimulated mainly by developing countries. This is reflected in the behavior of investors: over the past couple of years, we have seen large investment rounds of Asian BYJU’S, VIPKid and TAL Education, which have raised a total of more than $ 500 million.
  • The demands of a new generation of students will accelerate the development of EdTech. Young people today want to learn throughout their lives (following the concept of lifelong learning), and do it in much the same way as with all other information — on the go, fragmented, interactive and engaging. It is almost impossible to meet all these demands without the help of technology.
  • There will not be enough offline resources for all students. You can already sense that the traditional system is unable to meet the growing demand for education.
  • Besides, quality traditional education has become very expensive, which has even triggered the US student loan crisis. And the dynamics don’t look good. The situation has already given rise to the so-called “Second child, second college” problem. Many families spend most of their savings on educating their older child, and there is no longer enough money for teaching the second one. Therefore, they prefer to have only one child.
  • Advances in technology will make education more comprehensible. In the current decade, obviously, augmented and virtual reality, as well as the development of artificial intelligence, will expand the boundaries for students. Investor interest in companies like Labster and Interplay Learning highlights the potential of VR in education. Building on the popularity of Pokemon Go, its creator Niantic Labs in 2019 raised $ 245 million for developing augmented reality education apps.
  • Pandemics, particularly coronavirus, have catalyzed the transition of people to an online format, and education is no exception. Thus, more than 10 million new users came to Coursera from mid-March to mid-May, which is 7 times more than the registration rate in 2019.

Leaders feel confident, many new strong players appear

What are the opportunities?

Conclusion

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I’m a Gen Z ex-VC building a social media startup and sharing our path

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