As we know, the COVID-19 pandemic has established a new form of normal in a variety of fields, including education, which is one of those fields. Since traditional classrooms cannot always accommodate students’ schedules, more and more students are taking classes online. Consequently, educational technology (EdTech) businesses are consistently growing and producing a wide variety of educational apps.
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What Exactly Is EdTech?
EdTech is a term that describes all products and services related to educational technology. These tools can be software applications, web-based programs, game-based learning systems, and various other formats. Both traditional schools with physical locations and online education models should have access to these educational tools.
Utilizing various forms of technology to advance educational standards has been around for centuries. People in education and business have long harbored the hope that technological advancements will one day make education more interesting, widely available, and productive.
Top 5 Best Edtech Companies
Nowadays, EdTech companies are plentiful on the market. They are mixing various types of cutting-edge technology with education to provide students with the most advantageous aspects of online learning while simultaneously relieving the stress that is placed on teachers. The following is a list of the top 5 EdTech companies currently leading the market in their field.
1. BYJU’S
Byju’s is an education technology company with headquarters in Bangalore, India. It launched its first product in 2011. Back in the day, Byju’s was initially conceived as a straightforward educational platform. The EdTech startup is now recognized as one of the well-established names in the sector. Moreover, it is in the process of expanding its footprint all over the world. Importantly, according to sources from March 2022, Byju’s app has 150 million users, representing a significant increase from 80 million users at the beginning of 2021. In addition, as of September 2020, the application had registered more than 2 million downloads across the globe in Google Play.
Students in Kindergarten through twelfth grade can access online video lessons through Byju’s app, which is available for mobile and web use. In addition, it offers students in India study materials that they can use to prepare for the various national entrance examinations. The video lessons come equipped with gamified representations of concepts, designed to keep the learners engaged and make learning fun.
2. Chegg, Inc.
Chegg is an online learning platform that was established in 2005. It has been providing students with an awesome learning experience. According to the figures from 2021, Chegg was reported to have 7.8 million subscribers. Additionally, it is anticipated that this number will continue to expand as the company develops new technologies. In addition, Chegg primarily operates in three of the most important education sectors. Students get access to a variety of learning tools through the platform. Learners have the option of receiving online instruction through the platform. Chegg assists students not only with their assignments but also with learning on their own. Students can buy, rent, and sell books within the same platform.
Uversity, a website that enables teachers to share educational materials, was first released by Chegg in 2017. Through student data and AI, the platform delivers relevant content to learners in the form of flashcards, videos, quizzes, math support, or writing support. Thus, these provide them with a tailored learning experience catered to their specific requirements.
3. Blackboard
Blackboard is a Washington-based educational technology business that was established in 2011. It has grown to become one of the giant industries. Through its business technologies and solutions for teaching, learning, and student engagement, the company assists educators in meeting the needs of students by ensuring that they receive a quality education. With a total valuation of 700 million dollars, Blackboard is one of the most successful educational technology businesses. The company’s goal is to completely change the dynamic of how online education functions with the help of the services it provides.
Importantly, Blackboard provides various products and services to clients in various sectors, including K-12 schools, corporations, and government agencies. Through the provision of services such as marketing and enrollment, LMS contributes to the flourishing of educational institutions. Moreover, Blackboard is also helpful for K-12 communities regarding education, learning, and maintaining connections. Private and public companies also utilize their goods and services to deliver training programs.
4. Coursera
Coursera is a well-known massive open online course (MOOC) platform headquartered in California, United States. It connects students with over 150 different universities. Students can gain the greatest education possible at their speed thanks to the approximately 4000 classes offered across a wide variety of topic areas. Importantly, learners can access video lectures whenever they like via the web or their mobile devices, as Coursera makes them available. They also offer community forums that students can participate in to communicate with one another and further their education.
According to reports from the beginning of 2021, Coursera had a total of 82 million users who had enrolled for the platform. The pandemic increased the number of people using Coursera, many of whom turned to online learning to complete their degrees or upgrade their professional skills.
5. Teachers Pay Teachers
Teachers Pay Teachers, also known as TPT, is an educational technology company. Educators founded it intending to provide a platform for educators to collaborate and exchange educational materials and resources.
TPT’s network currently consists of 7 million teachers. It has a database of over 5 million pieces of educator-created content. Its purpose is to assist students in their educational pursuits and allow teachers to learn from one another. The company’s mission is to foster more connectivity among the teaching community. Teachers can utilize the website as a marketplace to buy and sell worksheets, lesson plans, and other supplemental materials with their colleagues.
Teachers Pay Teacher is a well-known online marketplace for selling unique educational resources. The company has yearly revenue of between $25 and $50 million.
Conclusion
In short, even instructors, who were opposed to technology in the classroom, were also forced to comply when the epidemic began. It became necessary to make changes in the education field to ensure that students could continue their education without interruption. Since then, technology has consistently played an important part in education. As a result, EdTech has now entered the mainstream, ranging from learning management systems and other comparable technologies for school management even before the epidemic.
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Source: Edsys