Overview

We are living in an era of innovation and transformation where everything is changing very rapidly. In this world of transformation, you can not expect a life without quality education. Education has the power to change the life of a person and his upcoming generations totally. It is more powerful than any weapon ever made on this earth as without the right education you wouldn’t be able to do that at all. Education is what differentiates human society from animals.

In the modern world, people understand the importance of education and that is the reason the education industry has become so big. The education industry is the second largest industry on the globe after healthcare. As per the data from 2018, the education industry is worth $272.35 billion and it is expected to be worth $319.75 billion by 2025 with a compounded annual growth rate of 9.23%. The adoption of online learning and courses has also helped the market growth and increase the rate of growth for the market.

One of the recent examples in the online education industry is the growth of Bangalore-based start-up Byju’s which became a unicorn in less than 10 years and Silver Lake backed the start-up at the valuation of $11 billion recently. This speaks more than anything else about how rapidly the education industry is growing. The ed-tech industry in India only is expected to grow at a compounded annual growth rate of 43.85% in the next 5 years. The education sector in India was estimated to be worth $91.7 billion in the financial year of 2018. In India, private education keeps a very strong hold on the education industry whether it is pre-schools or university levels.

Education is an industry that will never slow down and will always be in demand. It is a necessity for humans and without education, we can not continue the kind of growth we have been able to achieve in the past few years. The means of education might change with time but the demand for education will not change and even if it does then it will only grow.

With so much potential the education industry is becoming a very good market and is bringing so many opportunities for new entrepreneurs and investors. If we talk about India only then we have more than 4,450 ed-tech companies in India. The market is still growing and as we talked about the data in the earlier part of the article, we will witness many new entrants in the future.

Challenges

The challenges of the education industry are also very similar to other industries and most of these challenges are created for the traditional players in the industry. The increase in the demand for online learning is hurting very badly to the traditional educational institutes. The meaning of education has also changed for people with times and the type of education is also changing. With the introduction of so many new industries every year, the education industry is also facing a very big transformation.

The education industry is one of the biggest victims of lockdowns and restrictions due to Coronavirus. When the online learning and ed-tech industry saw a big boom during covid, the traditional education industry was affected very badly during this period. Schools and colleges were completely shut down and they had to function online with the limited options that were available to them. When lockdowns extended, we saw many tools that were introduced for conducting online classes and platforms like Zoom and Google Classroom recorded a very big jump in their user base during this period.

Although the third-party platforms managed the work to a certain extent, there were a lot of issues that are still a challenge for the traditional education centers. The use of third-party tools is not a very safe option and you either get no personalization options or very few personalization options with them. Data safety and security is also an issue with the third-party platforms and more than that you become dependent on a single platform for all your needs. Putting all your eggs in a single basket is never a good option and when it comes to managing an organization where you can not afford a shut down for a single day then the dependency on a third-party platform is never a good idea.

At the beginning of 2021, although some countries have started educational institutes still most schools and colleges are closed. As we have seen successful trials of vaccines and now people are getting vaccinated, we might expect the institutes to start in the coming months but it will not be back to normal how it used to be in the pre-covid era. There will be many transformations in the education industry that are going to stay forever and we will have to upgrade ourselves if we want to keep up with the time or else we will get too late to start.

Solutions

As we discussed the challenges in the earlier part, the solution for all these challenges is very related to each other. You can counter all the challenges of the education industry by going digital and that is where e-GSS can help you in getting ahead of the game. At e-GSS, we can help you in creating a completely customized platform based on your requirements. Our professionals will create a design that will engage your students and subscribers and you will get all the functionalities with controls in your hands. When you have all the controls, you can also do your branding much more effectively.

We help you with third-party tools integration also so that you can have all the controls and still be able to take advantage of third-party tools that you need. We create an engaging website so that your users never get bored and the option for integration of advanced third-party tools gives you so endless potential options that you can upgrade based on your needs and requirements that you face while moving ahead.

Our professionals also help you in ranking your website on top with the help of SEO services and you get access to billions of audiences that are growing every second. Our CRM developers create the latest CRM software to help you with data management and processing. Our advanced CRM software can be fully customized based on your needs. We help you in giving your branch reach to millions of audiences who are targeted and can be your potential target for your services. Whether it is about a realistic and well-researched strategy or execution of that strategy to get the best out of it, e-Global Soft Solutions is the best place for you to transform your education business.

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