What does the digitalisation of education represent for business, and how to keep up with it?
The digital era has transformed all aspects of our lives. It defines how we live, work, travel, socialise and, more importantly, change how we learn and educate ourselves. Yet, although the idea of technologically enhanced learning (TEL) has been known since the late 1990s, it was only during the outbreak of COVID in 2020 that the education industry encountered its real challenges.
After the world faced strict locking rules, the need to digitise the education sector became vital. According to the UN, the pandemic affected 94% of the total student population, almost 1.6 billion students in 190 countries. Although the closures of schools and universities have particularly hit traditional education systems, they have still managed to withstand the storm with the help of digital learning tools. The constraints of the pandemic have sharply increased the demand for digital educational technologies altogether.
According to research markets, it is anticipated that the global e-learning market will grow to $319.17 billion by 2025, from almost $188.88 billion in 2019. In the meantime, the MOOC (Massive Open Online Courses) market will quadruple, reaching $21.4 billion in 2025 (from $5.16 billion in 2019). Furthermore, according to a survey conducted by the Schoology Exchange with 17,000 respondents (most of whom were American teachers), 95.6% believe that digital education positively impacts the educational process. With such impressive numbers, we cannot deny the key role that digitalisation plays for educational institutions.
Five main benefits of digitalisation in education:
1. A significant increase in the information shared
2. 24 hours available information
3. New sources of business
4. Education becomes more accessible
5. Reducing unnecessary tasks
Five main challenges of digitalisation in education:
1. Technical and hardware limitations
2. Lack of focus and motivation on the part of users
3. Difficulties in understanding specific skills
4. Resistance to change and adoption of new technologies
5. Lack of standardised rules at the regional level
In a world where isolation and social deprivation are the new norms, we cannot ignore new challenges or opportunities that come our way. Although the physical classroom has been hit hardest by the global pandemic, the pandemic has pushed the education industry into an “overdrive” mode, keeping it among the fastest-growing industries today.
Digitalisation is undoubtedly the future of education. In 2021, edtech startups and digital businesses worldwide will see a high return on investment thanks to the impact of digitalisation on the education industry.