The edtech trends are quite dynamic in nature that keeps changing with time for the various edtech solutions. While the number of edtech startups is surging high, it has become imperative to have a crystal clear idea about the current edtech trends to implement the best strategies.
As stated in a recent report, the global edtech industry market will be worth $1 trillion by 2028. With the growing potential of this enormous industry, various types of edtech startups are thriving to get hold of a better market position.
Be it an early-stage edtech startup or a growing edtech business - one must need to be updated with the current trends, customer demand patterns, and other factors related to the edtech market to make the best out of the edtech business. But from where to start? Or, precisely, how to know which edtech trends are the most useful or which are not going to last?
Well, in this blog you will get all the answers you have been searching for regarding the edtech trends. Here we are going to guide you through the top edtech trends you must know in 2023. So, let’s get started!
What Is EdTech?
Before we talk about the top edtech trends, it is important to have a clear idea about what edtech really is. Many of the startups often target this industry even without properly knowing what an edtech company should really be aimed for or its significance. And you must not make that mistake if you want your business to be successful in the long run.
Edtech stands for education technology and is defined as introducing various types of technologies and tools to facilitate better learning for the students including kids as well as adults. An edtech company should be focused on providing competitive learning solutions by incorporating modern technical facilities and IT tools for its students.
Starting from reader adaptive books to advanced students assessment & progress tracking tools - these all are a few glimpses of how edtech is different from the traditional education systems and methods. Some of the leading edtech startups around the world that grew into the leading edtech companies are Blackboard, Coursera, Chegg, Byju’s, Udacity, Guild Education, and GoGuardian, to name a few. Next, we will walk you through, why the number of edtech startups is rising fast or the importance of edtech.
Why Is EdTech Important?
One of the main goals of any educational system is to let the students achieve their learning goals easily. And by incorporating diverse cutting-edge technologies, tools, and solutions, an edtech company helps in that more efficiently.
But that’s not it. Below are some of the top reasons why edtech startups are about to leverage even bigger opportunities in this field. Below are the top reasons why edtech is so important and why there is a growing demand for the edtech solutions around the world.
1. Impactful Learning
One of the top advantages of edtech solutions is, more impactful learning that utilizes various technologies, tools, and facilities to maximize the efficiency of learning. Gone are the days when the traditional or conventional classroom learning was the only way to take courses or complete degrees or learn new skills for the kids and adults.
Furthermore, there often used to be gaps in students’ understanding of conventional classroom teaching. The introduction of edtech startups or edtech companies along with edtech solutions has made learning more effective and advanced which lets the students meet their learning goals better.
Cost-effectiveness is one of the top advantages of opting for edtech solutions. Despite being equipped with advanced edtech solutions and tools, edtech startups or companies offer a broad range of cost-effective courses taking into account the affordability factor for different categories of students.
With the increasing usage of smartphones and smart devices, it has become even easier for the edtech startups and companies to reach a wider audience base. This makes the edtech solutions for learning even easier to avail and cost-effective compared to the traditional courses.
Flexibility is near the top of the list when it comes to the importance of edtech solutions provided by the edtech startups and growing companies. Not only can the students learn from the comfort of their homes, but it offers high flexibility to let the students learn at their own pace which makes it suitable even for the working professionals taking online courses. While the craze for online learning has been rising with the growing adoption of the ‘new normal’, the high level of flexibility has made its adoption even more universal around the globe.
4. Uninterrupted Learning Solution
Interruption-free learning solution is one of the key advantages of edtech solutions that offer seamless learning facilities to the students. The pandemic has shown us in a hard way that there can be obstacles in offline and conventional learning.
But there is a way out there. The introduction to a lot of growing edtech startups has come not only as an instant solution but is going to last even in the upcoming years to ensure uninterrupted learning irrespective of your location, time zone, or other factors.
Top EdTech Trends to Know in 2023
Now that you have a clearer idea of the edtech industry and the importance of edtech solutions, let's know more about it and the key edtech trends and facts. Here’s a list of the top edtech trends in 2023.
1.AI and ML to Aid in the Advancements for EdTech Startups
The role of AI (Artificial Intelligence) and ML (Machine Learning) is pivotal in edtech solutions. One of the key applications of AI & ML in edtech is they help in offering personalized learning experiences to the students.
An AI-powered edtech solution is capable of collecting and analyzing the important data and information related to students’ search history, likes, dislikes, ratings, preferences, and other online interactions and behavioral patterns to offer them a personalized home page of the edtech app or website. As a result, they don’t need to spend hours browsing through the unlimited study materials, content, and courses to find the one they want.
The ML-based predictive analysis helps in offering the students exactly what they are looking for and suggests what learning courses or edtech solutions will fit them the best. With ML & AI, there also comes the concept of smart tutors that can be remotely operated by the technical experts to offer the top edtech solutions to the students.
2. Data Abundance to Remain the Key to EdTech Solutions
The efficiency of the edtech solutions often lies in the available and relevant data that can be taken as inputs, analyzed, and utilized to bring out the best in the edtech startups. Research says that the growth rate of the current data-driven companies is nearly 30% per year and the edtech startups contribute majorly to that.
To come up with the most competitive edtech solutions that are aligned to the requirements of your target audience, the edtech startups are adopting the practice of data collection, analysis, and science for optimum results. At the same time, data security and best practices come into play here. Data abundance refers to the availability of data related to the end-users, their preferences, demand, required expertise, and others that lead to the proper delivery of the edtech solutions to its intended audience or students.
3.EdTech Startups to Catalyze the Digital Transformation
Undoubtedly the rising number of edtech startups is catering to the digital transformation worldwide. Adoption of the new-edge technologies, advanced technical infrastructure, and digital learning solutions is not only widening the growth scope for online educators but is paving the path to further digital transformation worldwide.
Digitization is no longer limited in a specific sector but has become widespread and the edtech startups have a significant contribution to that. To give you a glimpse, 65% of the global GDP (Gross Domestic Product) is set to be digitized by 2022 and the edtech startups and increasing adoption of edtech solutions are expected to aid in that.
4. Asynchronous Learning to Cater to the EdTech Startups Growth
Asynchronous learning is one of the top edtech trends in 2022 that is going to prevail in the near future. Asynchronous learning is defined as a new type of learning, basically online learning, that lets the students learn and progress at their own pace, as per their own schedules.
Unlike conventional synchronous learning, asynchronous learning is highly effective for the students irrespective of their time zones, work schedules, or geographical locations. For instance, in asynchronous learning, it is not mandatory for the online learners to sync up their time with the online instructors or classes as there is enough flexibility to access the learning materials and learn at their own speed without any difficulties.
While the concept of asynchronous learning came into play at the end of the 19th century, it has emerged as one of the top edtech trends over the years. It is not only suitable for the online learners, especially the professionals taking side courses but it has also opened new paths for the edtech startups with a global audience and the top providers of the edtech solutions. Owing to the unlimited advantages it offers and its high flexibility, this is set to remain among the top edtech trends catering to the edtech startups' growth.
5.AR and VR to Take the Spotlight
The role of AR (Augmented Reality) and VR (Virtual Reality) is not new in the edtech sector. No matter whether you have a startup edtech or are planning to provide edtech solutions, incorporating AR and VR can take your edtech solutions to the next level.
AR and VR have become an integral part of the edtech startups as they help in offering interactive online classrooms that give the feel of brick-and-mortar traditional classrooms. Furthermore, AR and VR lets the online learners get engaging and real-time tools and edtech solutions that make online learning more interactive, fun, and impactful. As the application of AR and VR tends to remain one of the top edtech trends in 2022, you must explore this option for your edtech solutions.
The edtech industry is highly potential and subject to significant growth in the upcoming years. To utilize the upcoming opportunities and excel in providing edtech solutions, you must know the top edtech trends and utilize them in the right way.
As the growing number of edtech startups are adopting competitive strategies to offer competitive edtech solutions, it has become even more challenging to sustain in this competitive market and excel in this field. The above list of the top edtech trends in 2023 will help you with choosing your own strategies and implementing them to stand out from the crowd of the rising number of edtech startups.
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