I don’t need to tell you that online learning and ‘edtech’ is one industry that is going to benefit greatly from the current crisis, and no more so than in China. According to Silicon Dragon, “edtech is increasing globally by about 11% annually and projected to reach $341 billion by 2025, according to HolonIQ in its Global Education Outlook. China’s market is growing the fastest worldwide, by 20% per year. The sector has been attracting loads of venture capital investment, reaching nearly $1.7 billion in 2019 across 105 deals in the U.S., according to edtech tracker EdSurge. China claims four of the five largest edtech investments in the world”.
Why would you send your children to expensive schools and universities around the world, not to mention all the spin off costs (accommodation, travel and living expenses) when you can keep them at home and get access to the best that the world has to offer via online learning?
“One beneficiary of this trend is China Online Education, otherwise known as ‘51Talk’. The Beijing-based company that is listed on the NYSE has been growing very fast. It’s poised to continue on that growth curve as awareness grows about how online learning can work. Other contenders in this space in China include AI-driven edtech company LAIX and VIPKid which I visited earlier last year”.
This is going to be a major area of change and growth when this is all over.