Online education was the first to be pushed to the front, opening up to welcome learners.
On December 9-12, EqualOcean is holding the World Innovators Meet (WIM) 2020. This year, the event's main topic is 'Technology and Innovation Connect the World.' WIM2020 gathers innovators from Asia, Africa, Europe and the Americas to share their knowledge and key achievements, promoting the concept of 'Tech for Equal.'
2020 brings the world not only the ups and downs but also the opportunities. In this change, online education was the first to be pushed to the front, opening up to welcome learners from all over the world.
Technology is like a life-saving straw, empowering the traditional education industry, providing new solutions and more choices to learners worldwide.
Artificial Intelligence will bring more intelligent and customized education services, XR may help teaching resources cross the barriers of regions, classes, and resources, benefiting underdeveloped areas via virtualization. Blockchain may make the identities of 'teacher' and 'student' no longer fixed, making education become a freely accessible resource for everyone.
This report discusses the global EdTech industry. Taking users' age and learning goals as indexes, we divide this industry into five segmented fields, including K12 education, STEAM education, vocational education, language learning, teaching management, and solution platform. We believe that AI, XR, and the blockchain may positively impact the traditional education industry in terms of technology. So, this report mainly focuses on the application of these three basic technologies in the education field.
What is EdTech
To some extent, education is a kind of information communication.
Information communication media plays a key role during the development of the education industry. The significance of communication for education is like labor tools for production, and technologies are inevitable tools in this production activity.
As an industry integrated with education and technologies, education technology designs methodology and management modes of teaching links under technologies and brought teachers and students with a more efficient education environment in both the teaching link and the learning link through intelligent solutions Internet as the carrier.
The Trend of Global EdTech
By 2020, worldwide learners have to change their traditional learning mode, and offline learning has been replaced by online learning. In the future, the education technology industry's problem will not be learners' acceptance of intelligent education learning products, but how to cash products continuously to change the education model.
As the learning mode changes from the traditional learning for examinations to interactive learning, online and digital development has permeated the education field more frequently, and more and more enterprises have begun to apply creative technology into the education industry.
The main driving force of education technology is an iteration of the Internet and intelligent technology. However, the change in policies will still significantly affect the development of the education industry.
Meanwhile, the change in consumers' demands for the intelligent learning market pushes the industry's progress.
According to Grand View Research statistics, global education technology's market scale in 2019 was USD 76.4 billion. It is predicted that the industry will grow at a compound annual growth rate of 18.1% during 2020-2027. Additionally, Global consumer spending on EdTech is expected to increase after Covid-19 as well.
Both opportunities and risks are inevitable for the tech industry. The industry will grow faster, and a new generation of learners will be more receptive to educational models with strong technological attributes.
However, over-reliance on technology may also lead to education losing its essence.
Whether online or offline, the empowerment of technology will eventually cover the entire education industry, and the term 'education technology' will eventually return to 'education' itself.
We believe that technology will belong to education, and users will finally not perceive technology in education.
Next 50 in Global Tech: Education
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About WIM
Hosted by EqualOcean, the World Innovators Meet (WIM) (click to watch the online event on December 9-11, 2020) is a global event for innovators. It provides limitless opportunities to learn from and connect with the most sought-after technology pioneers.
About WIA
The World Innovation Awards (WIA) are announced at WIM to recognize game-changers across various industries and geographies. Selected by a committee of distinguished experts, entrepreneurs, and investors, WIA is designed to acknowledge technology disruptors striving to make a positive impact on a global scale.
See this year's WIA lists and download the research reports in English and Chinese on EqualOcean and 亿欧智库 respectively.