TANMAThe Edtech sector has been evolving at a steady phase. From a technology perspective, the best words to describe the 2023 edtech sector will be highly sophisticated, prevalent, and international.
Certain deviations from some of the previous practices will be significant for 2023.
The edtech sector buyers will make their decisions based on efficacy. The buyers, including talent development professionals, educational institutions, and parents, are less interested in deciding on crucial aspects based on industry relationships and vendors.
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Edtech players will differentiate themselves by consistently enhancing their ability to reproduce effective and practical student outcomes. More research and investments are likely to be part of the process.
The internet is now reliably accessible in every classroom and office. This infrastructure will enable brand-new businesses to start and collect and analyze student activity data at a finer scale than ever before.
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Overall, the edtech industry is expanding geographically. However, the funding was comparatively lesser between 2021 to 2022 as compared to expectations.
Global enterprises and venture funds have been investing significantly and making consistent efforts to be a part of the U.S. edtech industry.
Although the year ahead will be the same as 2022, there are encouraging signs of development. Companies are putting more effort into including efficacy in their value offering.