The artificial intelligence market in the US education sector is likely to grow at a CAGR of 47.50% during the period 2017-2021.
There is an interference of technology in every aspect of our daily life. Technology has invaded the educational sector as well and for the betterment of future. The artificial intelligence market in the US education sector is likely to grow at a CAGR of 47.50% during the period 2017-2021. The Union Budget has pegged an outlay of Rs 79,685.95 crore (US$ 11.952 billion) for the education sector for financial year 2017-18, up from Rs 72,394 crore (US$ 10.859 billion) in 2016-17—a 9.9 per cent rise.
The Government of India has allocated around Rs 17,000 crore (US$ 2.55 billion) towards skilling, employment generation, and providing livelihood to millions of youth, in order to boost the Skill India Mission.
Here are a few reasons why eLearning has promising future in India:
The adoption of smart education system in India is predicted to increase with a CAGR of 16.76% during the period from 2016 to 2020. The aim of government to raise its current gross enrollment ratio to 30 per cent by 2020, will boost the growth of the distance education in India. Government allotted a huge sum for the development of smart learning, only to encourage the distance learning providers and e-teachers to utilise the funds in educating India smartly.
Technology as a boon:
Technology has been proved to be a huge revolution in the field of education, be it the newly joined school kids or the great scholars and researchers, technology has tamed them all. Smart boards, digital podiums, smart class ICT and visualiser have pushed the chalk and duster culture to the walls.Children tend to have their interests inclined more towards technology than to the limited exposure they get through the traditional education methods.
The recent market research report from Technavio predicts the smart classroom market in India to grow at a CAGR of more than 20% during the forecast period of 2016 to 2020. People are keen to adapt to the online culture, which is encouraging the edupreneurs to come up with next level eLearning methods, formulas and websites. Especially the 3D learning experience is known to help students to learn in a virtual environment, allowing them to get into the depth of the subject.
Educators have realised the importance of technology in today’s education, thus they have adopted the new change taking place in and around the globe. A study reported that about 85% of educational institutions believed that it is important to provide a fostering environment that has the right mix of technology and education.
Acing the App culture:
There are multiple apps for providing solutions of problems related to mathematical, physics, chemistry in different methods, all thanks to the app culture. These apps by edupreneurs give them exposure in the market as well as encourage others to move forward in the technology era.
Nothing stops for anybody, if you stick to obsolete methods, your business remain under the heap of dust, when others run over your hard earned name and fame, because change is the only constant.