The Indian Education Technology (EdTech) market is growing at a fast pacesince the information in this current era of digitization has to be made available on the go, specifically in terms of real time updates. The recent developments in technology and digital media along with telecommunication and broadband penetration have catalyzed the growth of the EdTech sector immensely.
It is expected to touch $70 billion by the end of 2017, comprising of higher education sector, coaching and tutoring. The traditional tools of education thus cannot be scaled to compete with the education technology apps that frequently make updatesfor knowledge dissemination to millions with negligible incremental costs.
There are several EdTech startups in the Indian market comprising of online study material and technological tools along with a pool of faculty. A few of the Indian startups include Embibe, CareerGuide, Vedantu, EduKart, Toppr, WizIQ and iProf. Among the mentioned list, Talentedge is an established firm, which provides live and digital learning and focuses on higher education. It provides a variety of courses for working executives encompassing a wide variety of domains including analytics, entrepreneurship, business management, finance, brand sales and marketing to name a few. Talentedge has a plethora of courses to choose from premier organizations worldwide including top business schools.
EdTech startups are definitely trying to create an impact and their presence in the Indian market is being felt. The only reason these startups are not excelling is because of lack of real time updates. Although these apps regularly push updates that enable content accessibility on the go and are trying to continuously update the content, yet there is something missing. Studies are indicative of demographic statistics highlighting that that there are about 20 million students at school levelthat can be potential targets for accessing these online supplementary study materials. Further, the Tier 2 and Tier 3 city students in India are also heavily using offline tutoring classes. The students in these cities may definitely create potential business opportunities but on the other hand suffer the highest reluctance due to non availability of information regarding trustworthiness on the platform, limited internet connectivity and technology infrastructure. Talentedge bridges the gap here by providing cutting edge platform with a blend of offline and online learning.
Several incubators and investors also act as a support system in influencing the masses with success stories surrounding the education technology domain and largely affect the success of such startups. In a nutshell, it can be seen that the EdTech industry is growing with the improved technology and digital media access in India. The government also plays an important role in the success of such ventures in terms of infrastructural assistance.
The EdTech sector will see new horizons in the near future with government’s Digital India initiatives. Further, the emergence of new outsourcing business models surrounding existing educational institutions for imparting distance learning also have large scope in the years to come.