online education

What are the market traits?

The increasing use of the digital is disrupting education and training, which have been weakened by the pandemic. The EdTech market intends to develop innovative technological solutions to help teachers, trainers, students or employees who want to teach or learn new skills. Accelerated development leading to growth in the industry, as Guillaume Bonneton, Partner at GP Bullhound, a consulting and investment firm, reminds us: “We’re seeing growth of 9-10% per year in the EdTech market, with points of overgrowth in certain areas like augmented reality (between +30 and +60%).”

Rethink asynchronous learning

The big trend in EdTech is undoubtedly asynchronous learning, which allows users to learn when and where they want. No need to polish university or training center benches, learners can connect from home, via their phone or computer, and work evenings or weekends if they choose. Asynchronous learning thus offers à la carte training where everyone is in control of their time.

The content of the training courses has changed to adapt to the new challenges. “The problem today, and all students have experienced it with detention, is that of attention, explains Guillaume Bonneton. We can say that EdTech has created the problem of inattention while solving it through other means such as gamification or augmented reality.” If it’s harder to focus on a screen to complete an online course, the course content needs to be adjusted to hold the user’s attention. And this is where artificial intelligence and gamification rule.

Artificial intelligence and gamification

Gamification has been growing rapidly for several years. And with good reason, as the GP Bullhound study shows, gamified training is becoming increasingly popular among employees. If 28% of employees are motivated by training, that percentage increases to 83% for gamified training. A striking development. Additionally, the global gamification market in education was valued at US$697 million in 2020 and is projected to reach US$4.1 billion by 2027, according to the consultancy.

“As far as artificial intelligence is concerned, we are only at the beginning and can already see major upheavals coming.explains Guillaume Bonneton. For example, we are seeing the first applications for correcting homework in the form of MC questions or for learning foreign languages.” Many startups position themselves in this last area, such as Gymglish, which uses artificial intelligence to teach more than 6 million users French, English, Spanish, Italian or even German via email. Adaptive learning thus creates a unique approach to online learning. And with 99% of US educators believing that AI is critical to an institution’s competitiveness, GP Bullhound says the sector will continue to grow strongly in the years to come.

A market that is still largely dominated by the United States

The privatization of education leads to an exorbitant increase in registration costs. So if the United States largely dominates the EdTech market, it is because the latter offers a low-cost alternative to private education, which has become unaffordable. “The privatization of education encourages the growth of EdTech, which is why the American, English or Dutch market is more important than ours, observes Guillaume Bonneton. But in the field of corporate training, France has very good companies such as 360 Learning, Open Classrooms and Skill and You. The advantage of these training and micro-certification solutions is that they fit much better with the flexibility of today’s work. Thanks to online training, it is now much easier to specialize.”

Whether at school or in vocational training, France still has a lot of cards to play. Because, as Guillaume Bonneton points out, “At EdTech, we are only at the very beginning. The development will be really tangible the day my kids complete their course in an interactive 3D classroom.”. The appointment is made.

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