The coming times, 2022 and beyond present more exciting opportunities for the ed-tech sector, says Karanvir Singh – Founder and CEO at Pariksha. He believes the sector will begin to move towards consolidation.
The educational landscape, in a post-COVID India, has been transformed by a series of developments in new-age pedagogies. While the use of technology in education is seen as a milestone, it was a need and a necessity brought in by the pandemic. This opened up the ed-tech sector across the world.
It should be noted that before the advent of COVID-19, digital adoptions were taking place largely through distance education and online courses. Schools and institutes, including colleges and universities, had to adopt online education after the pandemic took over the world. Demand for ed-tech providers and products boomed through the roof. As such, the ed-tech sector across the world recorded exponential growth in terms of the user base, inflow of investment, and acquisitions.
According to data from RBSA Advisors, the online education market in 2016 had 1.6 million paid users. KPMG in its 2019 report projected a growth of 9.6 million users by 2021. The Indian e-learning market is primarily driven by the favorable initiatives taken by the Government of India to initiate distance education programs to provide easy access to education. India’s e-learning market will post a CAGR of around 15% during 2015-2022.
Singh says there will be slews of acquisitions and buy-outs in the ed-tech space. “The Bharat segment, specifically, will witness increased attention by key players.” The Pariksha CEO this is because of the vast opportunity it presents in terms of the significant user base, as well as owing to the increase in adoption of frontier technologies like AR, that will further disrupt and democratize the ed-tech landscape.
“Personally, I think some very interesting times await for the ed-tech sector in general, and Pariksha in particular as we prepare for explosive growth and intensified competition.” Pariksha is an ed-tech startup, which enables preparation for government exams. It prepares for national and state government exams in all vernacular languages. Pariksha offers services across 11 states in six languages.
Singh said those who conflate technology with successful outcomes will be at the forefront of this brave and exciting new normal.