Pandemic led to exponential growth of ed-tech sector

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Mumbai: The Covid-19 pandemic aided in the exponential growth of the ed-tech sector that resulted in huge numbers of recruitment in the sector but experts believe that with the opening of schools, this upward trajectory is likely to consolidate.

The pandemic has drastically changed the way of teaching and learning, and the funding for ed-tech has remained bullish leading to the adoption of advanced technology, growth in both revenue. as well as hiring, CIEL HR Services Director and CEO Aditya Mishra told PTI.

“We estimate that there are more than 10,000 active openings across levels and permanent roles in the industry. Apart from these, there are at least 50,000 temporary job openings in the ed-tech sector,” he noted.

However, the intensity of action in terms of recruitments, investments, and new. enrolments are expected to come down a bit as the brick-and-mortar model begins to function normally, he said.

“The number of new startups in the space will eventually come down. Though the growth rates will cline, the momentum will continue because numerous schools and students are yet to be covered by ed-tech.

“The new education policy (NEP) will continue to e work as a facilitator for the growth of the sector. In the years ahead, we will see consolidation in the industry that will give rise to a few major players for each segment within ed-tech,” he said.

TeamLease Edtech CEO and founder Shantanu Rooj said the Indian ed-tech sector has attracted huge capital investments and this will continue for the next few years.

Education technology has not only helped maintain continuity for institutions but has also helped them become more efficient and better governed, he noted.

“Most institutions agree that it would be difficult to balance cost, quality, and scale without the use of technology,” he added.

Rooj also said technology in education has also helped create new products, improve customer satisfaction, brought in personalization in learning, and improved metrics of assessments.

“This is in line with the increased number of users, higher engagement learning and assessments, and increasing per- personalized learning requirements,” he added. Rooj said the ed-tech space in India has witnessed a steady upturn since 2013 with investment and funding increasing 5x times between 2013 and 2016.

However, the Covid-19 pandemic in 2020 proved to be the watershed moment for the ed-tech industry as a whole, specifically online learning has witnessed a significant rise among both students and professionals, he noted.

“The demand from the industry and institutions for ed-tech and related services has grown by about 140 percent over the past 14 months.

“Education technology has become mainstream now – not only does it support classroom education but has helped create new life forms of education that can help both traditional and employed learners,” he said.

Rooj added that ed-tech has emerged as a growth powerhouse, supporting the economy through investments and new jobs. Genius Consultants CMD RP Yadav said ed-tech has to become a part and parcel of education, however, there is a chance that growth might fall a little bit after the schools open.

But, the growth will continue to increase by around 40-50 percent for the next 2-3 years as there is still a huge gap between demand and supply, he stated.

Currently, the sector is growing at a fast pace aided by the restrictions to curb the spread of the pandemic as it is economical, practical, and available to use at one’s home at their convenience.

“The sector witnessed larger demand in the back room, especially for software developers, support function, teacher, content writer, marketing professionals. Experience bracket which is larger in demand is 3-5 years and 6 10 years,” Yadav said.

Source- PTI