The Education Industry Is A Recession-proof Industry
How is India coping with the education recession after the pandemic? The global recession’s impact on the education technology sector in India had some positive effects. While the ecosystem crumbled down due to the deadly virus, learning was on another level. Indian-based tech firms garnered at least $4 billion in 2021, a figure that was down to $2.2 billion in 2020.
The High Demand in Learning
Education technologies grew extraordinarily since there was a massive resumption of learning institutions countrywide. The high demand for education apps increased, and tech companies saw a massive leap in the industry. There are greater expectations that India will rise significantly due to the considerable opportunities in the school-attending demographics.
Is the globe heading to alternatives? A study done by KPMG in India gave a tangible figure about the online education market. The market stood at least 246 million dollars, and an increase that’s more by eight times is yet to come in half a decade. The whole world is searching for option B for sustainability purposes. Actually, several industries are regarded as proof of recession; one of them is the Indian education industry.
Discovering Brand New Alternatives
New methods are erupting to support hybrid learning within the Indian jurisdiction. So, will tech firms escalate their offline availability? Of course, yes, because the abroad marketplace is consistently increasing. We now have over 4,500 education technology firms that have started to support the class-attending race. Out of somewhat 300 million students, 40 million are after advanced studies.
A recent study proved that these firms assist most students in discovering and continuing with their dreams in a competitive exam environment. There has been a good performance that’s quite recommendable of around 7 percent compared to the traditional methods that never went beyond 1 percent.
What do we expect to see soon?
With learners applying via the Indian education technology firms, most firms will expand a little for exposure and world presence. Education is one of the industries that has been tried, especially by the pangs of the pandemic, but it still stands to prove strong. Gaps have been bridged with the objective of improving all levels of employment through demanding skills. The companies have partnered with colleges and universities, such as the IMM of India, to make things happen. Now, even the businesses that went down during the recession are also seeking partners with most of similar tech firms to improve productivity via various apps.
The Honeymoon Season
Education is still in demand, but it’s not fading from our faces soon. If you can innovate and make it work, this season becomes your honeymoon period. Now, most students have adapted to the features of the different education web and mobile applications after a real struggle to understand the new environment.
There are a few initiatives from the government administration to support digitized learning. These programs include the DIKSHA, which enables students from grades 1 to 12 to share sufficient knowledge via the digitized infrastructure. So we can easily understand the future of the Education Industry is going to explode.
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