With the increasing trend and demand for online education caused by Covid-19, many startups and educational institutions are coming up with edTech solutions to obtain market share. However, not all of them earn their original investment back. The primary reason behind this being that some companies are not creating an edTech solution with great value. It is essential that an edTech solution provides meaningful educational material.
In this article, we’ll discuss the steps and considerations for creating an edTech solution. But first, let’s understand the current edTech market scenario.
According to a Market Brief by EdWeek, nearly 15% of schools in the USA will have a set https://npfinancials.com.au/
of VR classroom kits by the end of 2021.
A recent report by Dealroom and London & Partners states that with $630 million investment in London-based edTech companies, London holds the top position for edTech investment in Europe.
Gadgets are becoming more sensible, with parents and teachers adopting new approaches to innovation in education technology. This headway in educational technology innovation has boosted the demand and interest in useful edTech mobile and web applications.
Things to know before you create your EdTech Solution What is EdTech?
EdTech or Education Technology is an area of technology that is focused mainly on providing software solutions for the education industry. The aim of this technology is to improve the accessibility of education and to emphasize the streamlining of the learning process.
EdTech companies focus on building solutions that provide the students with a futuristic and immersive learning experience. In 2021, the edTech industry will consist of various educational tools powered by several advanced technologies such as extended reality and IoT.
Impact of Covid-19 on EdTech
The Covid-19 outbreak has significantly disrupted the global economic scenario. Some sectors saw a negative impact, whereas others realized a massive increase in market capital and customer demand. However, the education technology industry was positively affected by the coronavirus pan