EdTech or Educational Technology expenditure is expected to double by 2025; from what it is at $227 billion today to $404 billion, the industry is likely to impact millions of users. Global events in the recent past have accelerated the rate of adoption. The traditional education industry contributes $7 trillion to the global economy, which accounts for 6% of global GDP.
In the coming times, EdTech will replace traditional education. Employed people are now required to develop additional skills to survive. People with jobs prefer EdTech platforms over traditional learning centers for upskilling themselves. With both students and employed individuals joining the bandwagon, the EdTech industry is expected to register double-digit growth.
While the industry is on the rise but there are innocuous challenges that are weighing it down. Lack of experience, uncertain future, and unclear laws are making it difficult for organizations to impart quality products and exceptional customer experience.