Edtech – Entrée or Main Course ?
EdTech platforms have seen a drastic rise in the number of new subscribers to the platforms.
1. Ed-tech players are increasing depth of their offering by providing multiple solutions
With a global population base and the country being the business hub of the region, UAE has been at the forefront of developments in the education sector. Demands of highly skilled workforce in the country, a pro-education government and ease of doing business enable the EdTech sector’s favorable growth opportunities in the UAE.
Edtech players are increasing the depth of their offering by providing solutions across multiple use cases.
2. They have witnessed significant traction driven by increased consumer adoption
Most EdTech platforms have seen a drastic rise in the number of new subscribers to the platforms. Key international players have reported upto 5x increase in subscribers from the Middle east compared to same period in 2019. This is likely to get content providers interested to provide more localized content, further enhancing interest from consumers
The acceptance of up/reskilling using online means has gained significant acceptance in the region. Employers are increasingly becoming open to candidates who studied using an online medium, while consumers are also more open to the idea of skills enhancement using online methods.
For most part of the year consumers worked from home – and they utilized the additional time available to them on re/upskilling online. Professionals who were made redundant also took up specific courses to enhance their CVs, making them stand out in the application process. Within the younger set of consumers, universities going online showcased that online education methods were equally effective in enhancing the knowledgebase; and many such students went on to learn their courses of interest or supplement their university education with other courses.
Free trials/auditing courses were key in reducing the threshold for almost all consumer segments as consumers could take the course and pay only if he needed a certificate.
3. Both international and region players are active in this market
In the recent past, we have seen many international EdTech players enter the market due to the large growth potential, while many regional players also emerged strong.
International players are leveraging their large content base to gain foothold in the market; while regional players have identified niche gaps and developed on those through their local experience.