In 2022, the Indian edtech industry witnessed a course-correction after the ‘artificial boom’ during the pandemic, according to Akshay Munjal, founder & CEO, Hero Vired. “New-age technologies such as metaverse and augmented reality are expected to redefine the sector in 2023,” he said.
“Emerging technologies such as artificial intelligence, machine learning, blockchain and robotics have opened a gamut of opportunities for data scientists, machine learning specialists, blockchain specialists and AI engineers.”Munjal added that gamification emerged as a major e-learning strategy as enterprises seek to create engaging learning experiences for their employees and motivate learners to make them industry-ready.
“While the industry is witnessing ‘funding winter’, the players’ resilience and agility to navigate the complex landscape have reaffirmed that edtech is here to stay. Gaming and e-sports, along with metaverse, are expected to grow at an impressive CAGR of 37.1% and touch a whopping size of $758 billion by the end of 2026,” he said.
In 2023, there will be more technological shifts, and learners would need to constantly upskill and reskill to stay up-to-date with the industry requirements. “Additionally, with hyper-personalisation, edtech players will have to design programmes and services to suit the learners’ understanding style and modify them accordingly to sustain growth,” Munjal said.