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According to the new World Bank report, “Low education outcome and poor quality of education are the biggest impediments to the faster economic growth of a country as the young continue to be trapped in poverty.” Technology has triggered a rapid increase in economic growth, and there is an imminent need to prepare students for jobs that require new-age skills for the development of their families, society and the nation as well. Traditional classroom models can’t scale individualized learning to an adequate level, but EdTech has the efficiency and power to make this a reality.
The era of Education 4.0 is focussed on digital content and automation process, which helps in firmly placing students on the saddle of these evolving technological innovations. WiFi networks, the Internet of Things (IoT), cloud and other advanced technologies have enabled colleges and universities across the globe to transform into digitally connected campuses benefiting students, faculty, and also their surrounding communities. As a result, these modern-day campuses boast enhanced student learning and better quality of life, lower operating costs, greater security, improved environmental sustainability, and more. Judging by the speed of technological adoptions, the number of smart campuses may grow faster than smart cities, as digital native students demand online connectivity in their campus and social environments. The school administration favors the idea of digitalizing campuses as it is the end of their quest to find new ways to improve the academic and social experience for students while mitigating security issues, environmental issues and, reducing time and operating costs.
The new-age digital savvy students may already be working or have a family and maybe in need for flexible schedules and program structures that allow them to progress at his/her own pace, depending on work obligations. According to the National Center for Education Statistics (2015), 62 percent of students either work part-time or full time, and 28 percent of students have at least one dependent. Owing to these factors, Edtech companies are striving to develop student-centric learning solutions. Institutions are keeping up pace with the current technological trends, and the world’s top universities have already adopted massive Open Online Courses (MOOC) to reduce the number of dropouts. The global EdTech market is expected to grow by 17% on an annual basis to reach $252bn by 2020. This expansion is unequally shared between developed and emerging countries, as EdTech start-ups also need a favorable environment to build up, including pre-existing infrastructure, demographics, supportive public and private investments and potential synergies with corporate partners
Augmented by EdTech solutions, educational institutions are about to change the destiny of millions of students and supplement the growth potential of local enterprises. In this edition of CIO Applications, we present you “Top 25 EdTech Solution Providers – 2019.” A distinguished panel comprising CEOs, CIOs, VCs, analysts, and CIO Application’s editorial board has reviewed the top companies in the education technology domain. The featured firms offer top-notch solutions and are forerunners that have exhibited in-depth expertise in the EdTech space.
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