The pandemic accelerated the already booming education technology industry as edtech companies look to offer solutions to a lot of the issues that have troubled economies globally for the past decade — skills gaps, inequality, and unemployment. In fact, it’s expected that the industry is headed for 8x to 10x growth in the next five years.
So, what’s behind this boom? Keep reading to find out.
What Is Edtech?
Education technology, or edtech, is the practice of bringing IT tools into the classroom to create a learning experience that is inclusive, engaging, and individualized.
What’s Causing Edtech to Boom?
Now let’s take a look at some factors causing the edtech boom.
As Edtech Becomes Mainstream, the Budget Increases
The seismic shock of 2020 solidified the need for virtual learning for all levels — from pre-K to lifelong learning and everything in between. Edtech stepped up to fill those needs, including learning management systems that allow learners to connect and engage with their course from home. It seems that everywhere you look these days, you see public money and private firms partnering to invest in edtech options in the name of improving quality and access to learning, which ultimately benefits everyone.
It Improves the Learning Experience
Many lifelong learners who have adapted to using edtech tools enjoy the control they have over engaging with the concepts they’re learning. The most significant breakthrough is that students can learn at their own pace instead of being rushed through a textbook or other course materials. This allows them to learn in a way that best suits their learning style and helps them retain the information much better.
Educators and Instructors Are On Board
Gone are the days of fingernails screeching on the chalkboard. The pandemic positioned edtech as a central component of learning rather than a superfluous add-on. Teachers are no longer worried about edtech reducing their roles to sideliners. Instead, they see how much edtech can help guide learners to get the most out of the course information in a way that makes sense for them. Rather than attempting to control every aspect of the learning experience, technology helps educators empower learners to self-direct via technology pathways that provide self-responsibility and self-determination through the process.
Students Demand It
The pandemic forced people of all ages to acclimate to using technologies like Zoom and Slack to work, communicate, socialize, and learn. As a result, today’s students are confident using technology tools. Edtech also allows lifelong learners to connect with, rather than just learn from, mentors and thought leaders.
Broad Demographics Create Opportunities
Edtech and virtual learning dramatically increase the demographics reach an instructor has. As lifelong learning becomes a prominent part of society, edtech product users run the gamut, whether it’s pre-schools, post-graduates, or professionals. This creates an extraordinary opportunity to capture a wide range of the population.
Edtech Offers Flexibility
The learning styles of lifelong learners differ from younger or more conventional students, including a greater degree of autonomy and self-reliance, a more mature manner of thinking, and more real-life experience about how ideas apply to society. Additionally, most lifelong learners have jobs and families to care for and thus lack enough time to engage in a full-time program.
Lifelong learners need flexible solutions that work with their current lifestyle and allow them to learn on their schedule. Edtech provides this kind of flexibility so adults with full plates can still find time to pursue their academic dreams. Online classes and content that can be viewed anytime, from anywhere, are extremely important for lifelong learners seeking educational opportunities that center around them and not the other way around. Lifelong learners are looking for efficient lessons, meaningful activities, and purposeful assignments because their time is limited and valuable — all things that edtech offers.
It’s easy to see why edtech is booming — it accommodates learners of all ages and needs, including alternative schedules and “go at your own pace” models. Edtech is a reliable investment for lifelong learners because it is designed exclusively to fit their needs.
