Top EdTech Industry Trends: All you need to know

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EdTech Industry Trends

The Edtech industry has seen exponential growth in the last few years and is evolving rapidly. In addition to a massive increase in remote learning, a wide range of new technologies and platforms are making their way into physical and virtual classrooms around the globe. 

With companies and startups churning out interactive and informative tools and apps for non-stop learning like never before, having an app isn’t a choice but a need of the hour. 

The eLearning leaders have started offering industry-leading services through custom EdTech app development services based on the latest technologies for educational organizations and schools.

Therefore, educational institutions, universities, teachers, and students must keep up with the competition and a heady mix of education and technology to achieve their goals and scale up their businesses. If you are an early-stage ed-tech startup or a growing edtech business, being updated with current trends, patterns, and factors related to the edtech market can help you make the best offering.

In this blog, we will help you guide through the top edtech trends that you must know and look out for. But before we go further, let us see what EdTech is about and some statistics. So let’s begin.

What is EdTech all about? What are its benefits?

EdTech stands for education technology. They are a platform that combines various technologies and tools to facilitate better learning and ensure a seamless user experience.

“Mobile applications are the future of the EdTech industry.”

The applications diminish the geographical limitations standing between students and quality learning.  

Now that we have looked at what eLearning stands for let’s review some facts and statistics related to the domain.  

As per reports, the global online education market is expected to be around USD 197.3 billion by 2022 at a CAGR of 22.7% by 2030.

Another sign of the progressing  EdTech industry is that about 89% of smartphone users tend to download apps, out of which 50% of apps are learning and education.

The promising educational apps market will grow by USD 46.88 billion, with a CAGR expected to be about 26% by 2024. 

Here are a few reasons why EdTech is essential and why there is a growing demand for the best EdTech apps and solutions.

Companies have started incorporating the latest technological tools and techniques, from advanced assessments, progress tracking tools, and interactive apps to keep up with the growing competition and offer the benefits expected from the space. 

In addition to making the learning experiences interactive, eLearning companies have started looking into key trends defining their future. 

Edtech industry trends to know in 2023.  

  1. AI-Powered Learning

Market reports show that the global AI adoption in the EdTech industry is at a predicted CAGR of about 47% by 2023, with a total valuation reaching about $3.68 billion by 2023.

With the help of AI, more than half the educator’s time will be spent managing the students’ growth and education. In addition, the technology will help lower the burden on educators by using data to create additional activities to support students.

Educators can proceed with lessons as per the learner’s skill level, as AI-powered apps will provide personalized evaluation insights. 

  1. Live Class Streaming

Globally, classrooms are increasingly becoming more hi-tech with the addition of EdTech to their curriculum. As per reports, over 6 million American students are pursuing their degrees online. This massive expansion has led to colleges increasing their live classes, making it easier for students and professionals to follow courses without needing to be physically present anywhere. 

With the introduction of educational live streaming, teachers can know the needs and preferences of students and come up with the right tools for teaching.

In addition, with open access to global student data, schools can compete globally, allowing top schools to minor-league ones to have brilliant students.

  1. Cloud technology 

When the whole world went remote in 2020, the education ecosystem adapted, with the cloud emerging as an ideal solution. Software as a Service (SaaS) platforms was relied upon with interest as students could work on projects and collaborate with others from anywhere on the internet. 

Even as schools returned to in-person teaching, cloud-based software still has takers. Infrastructure as a Service (IaaS) has found its way into several K-12 schools embracing the digital future. 

  1. Virtual Reality (VR) and Augmented Reality (AR) 

AR and VR are said to be the EdTech industry’s future and have a market size of USD 37.0 billion, expected to reach up to USD 114.5 billion by 2027, as per research by Markets and Markets. For example, by using Gamification with AR or VR, you can create an engaging, interactive learning environment as it can bring challenging concepts to life, such as complex engineering diagrams, human anatomy, etc., thus helping the students to feel a sense of presence. 

In addition, gamification in education using AI enhances the quality of a classroom. You can rely on something other than a textbook as the primary teaching material, thus improving the learning results.

  1. AI-Based Automated Classroom

AI-based solutions are well-equipped to be the best in any task as they have better results and can automate dreary work that plagues teachers. For example, reviewing papers, customizing the type of schooling, etc. 

Many models can be designed that utilize AI to recommend customized learning processes, keeping the users aware of daily progress and adapting lessons as per the student’s ability.

AI-powered assistants such as Apple’s Siri and Amazon’s Alexa have been conveyed to schools that assist instructors with study material and in the instruction of lessons.

 

In the new world of AI, the traditional way of teaching may no longer be as crucial as AI platforms and apps allow classrooms to explore, discover, and collaborate with peers for memorable and interactive lessons. 

Final thoughts 

This is an exciting time in the EdTech industry, filled with endless opportunities. With so many EdTech companies vying with each other and offering innovative EdTech solutions, you are spoilt for choice. We hope the above list of top EdTech trends can help you choose the right plan and implement them to stand out.  

You can contact us if you want to build a mobile app for your EdTech startup or have an education app idea. We welcome innovative collaborations to make learning enjoyable, smart, and efficient. We analyze your idea, help align business objectives and offer guidance to turn your vision into reality.