Key Trends in the Education Industry - 2020
Updated: Jun 30, 2020
The Education Industry has been constantly growing and evolving to provide students with the best resources that can help them achieve more success. In more recent times, technology has been heavily integrated into the infrastructure of the school as well as the method of instruction. The unique circumstances brought about by the COVID-19 pandemic has accelerated several digital technology trends that will transform education.
KPMG Indian and Google have recently released a report titled "Online Education in India: 2021". According to this report, the education industry & online learning market will see substantial growth ( approximately 8x) in the next 3-5 years.
Based on the current events & the surge in online education, these trends are the key trends of 2020 in the education industry.
1. Online Learning Capabilities
Real-time and interactive classroom-like environments are being used to help students continue to learn from home. Video-conferencing software such as Zoom, Google Meet are being leveraged to overcome challenges such as distance and language. In addition, schools have also been adopting online assessments. COVID-19 has been a big driver in this particular trend as nationwide lockdowns have been The Indian government has been implementing several initiatives to promote online learning across the nation.
2. Data Mining
Student related data has been a gold mine for various schools, colleges as well as industry experts. Insights provided by data analysis are being used to better understand student demographics, performance, and implement predictive data models. Data is very powerful and leveraging this resource will enable school administration as well as teachers to strategically plan their classes.
3. Textbook Rentals
Hard copies of school textbooks are generally expensive and the rise in internet access has opened up a world of cheap textbooks and online rentals for students. The textbook industry is facing stiff competition from startups offering online alternatives. A good example of this is Chegg, it offers a wide range of online textbooks as well as solutions for every subject a student may need.
4. Virtual Reality (VR)
Virtual Reality is a simulated experience that can immerse the user in a digital environment that can be similar to or drastically different than natural reality. The recent developments in VR have greatly increased the number of applications across multiple industries, including education. Schools are using VR as a way of showcasing their campus to prospective students and parents right at home on their desktops or mobile devices. It is also being used to enhance student learning, for example, science classes can explore the ocean or distant planets using VR headsets.
5. Internet of Things (IoT)
An IoT network consists of interconnected smart devices that are able to communicate and share information. An IoT enabled school campus can bring more learning opportunities for students, increase the efficiency of school administration, and open up a more collaborative environment for teachers. Although IoT networks are still small and relatively limited, the technology is picking up steam and it is expected to completely transform the education industry within the next 5 years.
6. ERP Solutions
With student populations growing and rising demand in higher-quality schools, ERP solutions are becoming a must-have for school administrations. Schools can optimize their day-to-day processes and increase their working efficiency while drastically reducing costs. With this, school administrations can shift their focus on improving their quality of education and facilities for students. EazySchool is a great example of an online ERP solution that empowers schools with powerful management modules and clean user experience.