The COVID-19 pandemic boosted the ed-tech sector’s rapid growth, resulting in massive recruiting, but experts anticipate that with the opening of schools, this hyped trend will eventually consolidate.
According to CIEL HR Services Director and CEO Aditya Mishra, the pandemic has significantly changed the style of teaching and learning, and investment for ed-tech has managed to remain robust, resulting in the adoption of advanced technology and an increase in both revenue and hiring.
Adding further he said, “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.”
However, once the brick-and-mortar structure gets underway to function normally, the volume of action in terms of recruitments, investments, and new enrolments is likely to normalize. The number of new start-ups in the space will dwindle over time. Though growth rates may slow, momentum will remain as most schools and students have yet to be targeted by ed-tech.
The new education policy (NEP) will continue to act as a catalyst for the sector’s growth. In the coming years, we will experience industry consolidation that will materialize in a few large players for each sector of ed-tech.
Shantanu Rooj, CEO and Founder of TeamLease Edtech, stated that the Indian ed-tech sector has drawn significant capital investment and that this will continue in the next years. He stated that education technology has not only helped institutions retain continuity but has also helped them become more efficient and well-governed. Most institutions believe that balancing cost, quality, and size without the use of technology would be challenging.
Rooj further stated that technology in education has aided in the creation of new products, the improvement of customer satisfaction, the adoption of customization in learning, and the strengthening of assessment metrics. This is in accordance with the growing number of users, higher levels of involvement in learning and assessments, and more personalized learning demands. According to Rooj, the ed-tech market in India has seen a continuous uptick since 2013, with investment and finance increasing fivefold between 2013 and 2016.
The COVID-19 outbreak in 2020, on the other hand, proved to be a landmark occasion for the ed-tech industry as a whole, with online learning seeing tremendous growth among both students and professionals. During the last 14 months, the growth for ed-tech and related services from industry and institutions has increased by around 140 percent.
Education technology has progressed to the point where it not only supports classroom education but has also contributed to the introduction of new forms of education that can benefit both traditional and employed learners.
Furthermore, the sector is expanding rapidly, encouraged by restrictions imposed to slow the spread of the pandemic, because it is cost-effective, practical, and available for usage at one’s convenience. Content creators, academicians (faculty and trainers), technical architects, project leaders, app developers, marketing, product development, software engineers, cloud infrastructure, and security specialists are also being employed in the industry. Cities like Bengaluru, Hyderabad, Pune, Mumbai, Delhi and NCR are seeing increased recruiting in the sector.