March 17, 2020
With a robust rise in smartphone ownership and internet adoption, learning has become more personalized, convenient, and all-encompassing. Not everyone has access to quality academic resources at school, but more and more people have a phone in their hands nowindicating how edtech is helping democratize education. At the same time, the consumer base is increasing phenomenally, paving way for opportunities not just in the academic space, but in vocational courses and skill development as well.
AMIDST ALL THESE DEVELOPMENTS, HERE ARE SOME TRENDS THAT SIGNIFY HOW THE EDTECH INDUSTRY IN INDIA WILL CONTINUE GROWING AT AN INCREDIBLE RATE IN 2020, AND BEYOND:
With the proliferation of smartphones, there has been a significant shift towards mobile-first solutions and products. In the edtech space, mobile-first approach will become central for learner experience. There are many effective ways for mobile learning to be tapped into which can provide consumers an enhanced experience within a short-time span. Because of this and other such factors, mobile-first learning products will explode in the country’s edtech space.
There lies a massive opportunity in the space of vernacular content. A report by Google India and KPMG estimated that as much as 73% of the Indian internet users are going to interact in a regional language by 2021. Amid this, having an English-only approach for the platform will limit the consumer base to a significant extent. Therefore, there is a lot of scope for business in the vernacular market, and further scope for them to play a role in bridging the country’s digital divide.
Indians are more than willing to pay for digital services now. Due to a rise in disposable income, there has been certain income elasticity towards expenditure on education-related products. This indicates how across various income levels, Indian consumers are willing to invest in value-added online learning products and platforms. The ‘freemium’ model has also led to the rise of paid models by facilitating free trials for better decision-making on the consumers’ end.
These are some of the several innovations and developments taking place in various fields of edtech, leading to new delivery methods, improvement in student engagement tactics, democratized access to education, personalized experiences, and more. India has a large consumer base and there are diverse categories of learners, learning modes, courses, and outcomes that entrepreneurs in the edtech space, or edupreneurs’ can explore. With our classrooms, workplaces, and job markets changing owing to the rapidly emerging technologies, edtech has become all the more relevant today, and will continue to positively impact more and more people across the country in 2020, and beyond.
Authored article by Micha Borkowski, CEO and co-founder of Brainly, an edutech startup