Can Edtechs Make Their Mark in Formal Education?

The education market in India is set to grow with over 580 million people in the age group of 5 to 24 years. Many Edtech companies are tapping into this opportunity. But will they be successful?

- PRIYANKA TANWER

Consider this: In 2018, there were 3.25 lakh schools in India. Their number grew to 3.36 lakh in 2021-22. With over 580 million people in the age group of 5 to 24 years, and 25 million children born every year, the education market in India is set to grow in the next few years. India's Preschool market is expected to grow by USD 7.35 Bn by 2028, at a CAGR of 11.2 per cent during 2023-2028. Overall, India's education and skills market will double to USD 313 bn till 2030, according to Invest India. This is a massive opportunity for many edtech companies who have already ventured into it or are considering doing so.

"It is good for the industry. With edtech new approaches, pedagogy and innovation will also come. The industry needs a lot of investment to cater to the needs of students, only government and existing private players are not able to accommodate its need," says Dr. Ramanand Nand, Co-founder, Centre for Policy Research.

While Career Point, Triumphant Institute of Management Education Pvt. Ltd (TIME), and Allen Career Institute have already ventured into it, the latest in line to do so is Physics Wallah with its first PW Gurukulam School in Gurugram. Affiliated with the CBSE, it will cater to students from Play School to Class VIII, adhering to the curriculum framework outlined in the NEP 2020.

"The school will be a canvas for students to paint their futures with immersive and transformative learning. At PW Gurukulam, we aim to offer education that covers a wide spectrum and will enable them to choose from limitless possibilities rather than conventional career paths," Alakh Pandey, CEO & Founder, Physics Wallah said.

ACHIEVING SUCCESS