The education industry has been on the boom for the last decade and big business houses are keen on investing in this industry as they have seen huge growth in the sector in the upcoming years. Ever since you have completed your studies if you have lived your education in the 90s, you must have witnessed only physical coaching centres only. Still, the story has completely changed now as the education sector is knocking on your door with a different approach.
Today Edtech companies or advanced education technology are impacting our education industry, leading to new heights and making education accessible to people from all walks of life.
Related: Education Technology that will engage parents in their child’s learning.
Edtech Companies: An Open Door to Opportunities
Edtech companies provide education using information technology. Their way of working is quite different from offline coaching institutes. They are into online education that runs on the internet which online teachers teach students sitting at different locations. The way the Pandemic affected children’s education, it is the edtech industry that arose as a survivor, bringing education to every learner. It is the pool of opportunities that is waiting for the rush to come and grab the diamond of education.
What does the online learning data say?
If we go by the data of edtech companies, we will believe that the future belongs to educators who are connected to online learning. In total, there are 1780+ edtech startups in India till 2020 with a total market valuation of more than US $2.8 bn which is expected to grow by US $10.4 as per Statista, a leading website about statistics.
If we talk about its performance in terms of employment, edtech companies are leading with 75,000+ employees in India.
In the last 10 years, a lot of things have changed, earlier we used to count on the biggest schools and universities but now we muscle up on the largest edtech companies that make online study even easier.
Some of the prominent Edtech Companies are:
| Edtech Companies | Networth (in Dollars) | Students |
| BYJU’s | US $22 Billion | 115 million students |
| Unacademy | US $2 Billion | 30 Million students |
| UpGrad | US $1.2 Billion | 1 million students |
| Vedantu | US $600 Million | 40,000 students |
| WhiteHat Education | US $300 Million | 1.25 Lakh students |
Edtech or Offline Coaching
This is a heated-up topic these days since the inception of edtech companies.
One thing we must mention here is that offline coaching has been the backbone of the Indian education system. On one hand, online coaching is the product of the internet, offline coaching has established itself with hard work on a grass-root level. If we go by data, then the majority of students still prefer to go to offline coaching which is around 98.2%.
As the pandemic’s impact fades, schools and colleges are reopening, and key edtech players are preparing for it. These institutes are attempting to grab the students, whether it be online education or offline education.
Just like Byju’s, Unacademy has also announced the launch of offline coaching centres across the country. They also start from one of the prominent coaching hubs for engineering and medicine, Kota in Rajasthan.
Yes, we can say the online education space is shrinking with the reopening of schools and colleges. Even everybody is fairly fine with “Hybrid Learning”.
But on the other hand, Coaching institutes are not ready to miss any opportunities. While they are focused on online learning, they are not ignoring traditional learning methods. Unacademy is developing offline education facilities in Kota followed by comparable facilities in Jaipur, Bengaluru, Chandigarh, Ahmedabad, Patna, Pune, and Delhi.
and they are also focused on online education, following in the footsteps of Big edtech companies like Byju’s.
Even big players are funding edtech companies to ramp up their processes. According to the sources, last month Bodhi Tree Systems, an investment platform made a $600 million investment in Allen Career Institute.
As you know, Allen prepares students for JEE (main and advanced), NEET-UG (pre-medical), Classes 6 to 10, NTSE, and Olympiads.
And this huge investment will help millions of students who are preparing for competitive examinations from Allen.
At last, we can say, the future belongs to those who know how to use technology and the edtech companies are built on the internet only. So, their growth in the coming future is inevitable. In the same way, we cannot deny the growth in offline classes too. The competition is intense and the one who delivers quality will win this game.
