The EdTech Sector Grows as Other Industries Take a Hit from the Coronavirus Crisis

The EdTech sector is a bright spot in the job market during the coronavirus pandemic. As lockdowns and mass quarantines continue, unemployment is soaring around the world – this only demonstrates that many professionals cannot always work from home. It’s already been predicted that some businesses won’t survive prolonged lockdowns or the fear felt by employees and clients.

With the necessity to stay home, some sectors are growing because of the crisis. EdTech is a prime example, as many schools and universities have had to swiftly transition their face-to-face programs into the online education space.

Before the crisis, some experts were still questioning the legitimacy of online programs and degrees, although there had been some movement in the perception over the years.

Certainly, as technology improved and education platforms made it possible to provide more than mere videos of lectures, online education became more acceptable.

It also tends to be more affordable and accessible, especially for those in remote or emerging economies. Now that classmates can interact more easily  online, thanks to videoconferencing apps like Zoom, online programs can in many instances be more diverse than traditional programs that might limit people by geography.

Market Watch reported that Cisco has seen a 700 percent bump in adoption of its more general Webex video-collaboration after it provided the services for free in light of the pandemic. According to the article, Cisco expects the number to rise even more as the pandemic continues.

Experts are saying that this is a turning point for online education. Certainly, employers will be looking at the coursework and degrees differently. A greater number of people around the world have already been forced into online programs, which will make them more ubiquitous and therefore more acceptable.

In more recent years, online education platforms have made it possible for teachers, students, and guest speakers to interact more directly. There are live teaching sessions, videos, group projects, including simulations and consulting projects, discussion forums, and more. In other words, there are ways to make virtual education seem like traditional education, so it reaches people in a new way.

There’s no question that the convenience factor is meaningful. Many have spoken about how online MBAs pique the interest of women, who have historically been reluctant to sign up for traditional programs, in part because of the timing. MBA programs generally happen around the same time as when people are starting families. Since most MBA students tend to be older, an online version is convenient for them, too. It allows people to stay home and continue working while gaining credentials. Tou can learn more about top online MBA programs via QS Online MBA Rankings.

As a result of all this, the EdTech sector will likely keep growing through the crisis and beyond. In fact, Business Insider India is reporting an increase in job opportunities. E-commerce and EdTech companies in India are looking for people to hire in backend development and digital operations. That’s not the only place in the world to report this kind of growth; there’s anecdotal evidence as well.

“In the past three weeks, we’ve seen an uptick in interest from universities that must quickly move their education online and corporate partners that want to offer continued education and upskilling benefits to employees,” said Vickie Schray, EVP & Chief External Affairs Officer at Zovio as reported by ELearning Inside. “We expect this will continue to grow as remote learning and work become a longer-term reality.”

As unemployment continues to grow, many are having a hard time recognizing what the future may hold. Finding sectors that are growing is a way to provide hope about the job market. The EdTech sector seems to be on an upward trajectory, which should mean more job opportunities. The other benefit of this trend is that people will continue to earn an education despite any external obstacles.