With the increased penetration of technology into our daily lives and smartphones taking over the world, India’s online education industry is expected to grow almost eight times to hit $1.96 billion by 2021, with the number of paid users rising six-fold from 1.6 million now to 9.6 million, as per a report by Google and consultancy firm KPMG.
Traditional education systems, hence are losing their importance as both students and educators embrace what a basic edtech startup offers – convenience, personalization, and agility.
“It is also interesting to note that high growth in education search queries is now coming in from Tier II and Tier III cities such as Patna, Guwahati, Aligarh and Kota, which points to the opportunities that growing penetration of smartphones and improving quality of Internet have opened up,” said Nitin Bawankule, Industry Director, Google India.
There even has been a 4x growth in education content consumption even on YouTube in the last one year.
Access to world’s best talent
Primary and secondary education has the largest addressable audience with a student base of around $260 million, making it the second-largest category in 2016. Apart from that Education technology aka edtech, uses technological advancements for new forms of learning.
One such market leader in ed-tech segment is Talentedge which provides 250 courses from 70 premier organizations worldwide; Finance, Business Management, Cyber Security, Project Management, Information Technology being some of the major courses, from reputed institutes such as IIM, MICA etc.
The Pay offs from Watch and Learn (Augmented Learning)
Talentedge houses many courses affiliated from reputed institutions with its unique end-to-end knowledge transmission, and managing to make it a fun-learn process.
Every year there will be more and more data to process, and learning centers will use tools made especially for big data analytics to make sense of the user-generated information. Only platforms such as Talentedge will be able to analyze that heap of data and deliver meaningful and valuable conclusions about user performance or course content optimization. Big data analytics by such firms will help learning be better understood the learning process itself by tracking learner and group patterns and performing a thorough feedback analysis, it’ll be able to offer full course personalization and compile a comprehensive ROI report for learning. The promises held by big data analytics for eLearning are very impressive and will become more important than ever.
A Customizable Classroom
By building such ecosystem, Talentedge holds the point how two different students can never be the same, and such customizable ecosystems educates every individual by integrating elements of gamification, edutainment and result-oriented learning. Such methods have also helped students in Tier-II and Tier-III cities receive quality education where availability of quality institutes and good faculty is often a bottleneck for them.
Experts at Talentedge think that applying game dynamics onto non-gaming contexts brings really great results. Most importantly, in motivating people to achieve their goals. This feature is easily applied to learning environments, by the team of much creative specialists at Talentedge. Gamification offers a potential strategy for improving user engagement with learning materials – some experts claim that the technique can boost learner’s motivation to a smashing 90% recall rate. It’s quite simple. Once learners assume an active role in knowledge reception, they will automatically improve their chances at remembering it.
The General Scenario
The education market in India, currently standing at USD 100 billion presents a lucrative opportunity for monetization. The country has witnessed a significant increase in the total internet user population from 2011 to 2016. Approximately 409 million internet users are expected to grow to approximately 735 million by 2021, presenting a positive outlook for online business in India. The growth has been supported by the exponential rise in number of smartphone users that reached around 290 million in 2016.
Ever since the launch of TalentEdge, it has served many students who opted for more than 200 courses. The regular demand of adding more courses and institutions over the platform has been flooding ever since the start, and TalentEdge has been in talks with many institutions to deliver the best an edtech startup could ever dream of!Like this press release? Submit yours here.