Be it instant streaming of movies, online home delivery of food or car rental services, the on-demand economy is expanding at a very fast pace covering all sectors of business. So, why should the education sector be left behind?
Further, the education industry is one of fast-growing industries across the globe. Hence, any innovation in the education sector can mark a significant change across lives. Let’s understand the buzz called on-demand economy and how can it disrupt the education sector.
A target of the on-demand economy
At first sight, the education sector is all about learning and teaching. Also, it has been one of the oldest professions in the whole world. However, it faces many challenges that include the increasing number of students in classes, different learning requirements of each student, difficulties in finding reliable tutors and high educational costs.
Traditional methods of teaching weren’t effective and that is how the on-demand economy took over the education sector. Most of the things have gone online.
According to Stratistics MRC, the Global E-Learning Market accounted for $165.21 billion in 2015 and is expected to reach $275.10 billion by 2022 growing at a CAGR of 7.5% during the forecast period.
How the education sector got disrupted
With technology, the style of imparting learning and consuming educational content has seen a major shift. The factors contributed to this paradigm shift are:
- Online repository of e-books, tutorials and videos
- Innovative learning models
- Virtual assistants
- Enhanced teacher-parent communication
- Bridging communication gaps between educational institutions, students and parents
With an endless number of online courses, private online tutors, e-books, book rental services, virtual classrooms, the list of the various ways in which the on-demand economy has disrupted the education sector goes on and on.
Let us have a look!
1. Marketplace for tutors and students
Educational websites and mobile apps with interactive e-learning technology and innovative games related to various subjects create a sense of enthusiasm in students.
Quality educational apps offers premium benefits like:
It connects students as well as tutors on any desired subject or topic as per their needs with one-to-one sessions. Virtual classrooms and video lessons make learning convenient for students. Some well-known educational websites and apps are Byju’s learning app, tutor.com, Embibe, Vedantu etc.
2. Better communication and transparency between students, tutors, and parents
Especially in school education, frequent teachers’ parents meeting regarding students’ progress and learning are important. However, with growing number of students and growing number of working parents, educational institutions find it challenging to arrange these meetings on timely basis.
Parents need to know more than just how their child is going ahead with their schooling, but each student also needs to know his or her own progress. This can be done with regular tests, assessments and observations.
On-demand educational mobile apps enable teachers and students to stay connected 24×7. They can share their doubts and feedbacks at any time. The timely feedback of assessments is an efficient way of clearing doubts, which can enhances communication lines between the tutors and students. From online portals, students can even download tutorials as per their convenience. The transparency is also increased as scorecards can be viewed easily and discussed.
3. Online book rental services and bookstores
Companies like the Amazon and Flipkart have made the availability of books and e-books more convenient. Sale of new as well as old books with CDs, DVDs or pendrive courses has benefited students. Besides, book rental services provided by thriftbooks.com have contributed to the online collection of educational resources.
4. Freelancing and online employment opportunities
Gone are those days when you had to go for walk-in interviews to get a job as a tutor or professor. Instead of getting fixed into 9 to 5 jobs, the on-demand economy has made it possible to work as per convenience. Hence, freelancing and online tutoring have become a hot option for many people. Anyone with the required skills and mastery over their subjects can teach online and upload video lectures on YouTube, Udemy or Coursera. The on-demand economy has actually created a lot of employment opportunities in education sector.
5. Cheap online courses and free certification
The innumerable number of cheap on-demand Massive Open Online Courses (MOOCs) with free certifications have not only attracted students but also working professionals, and anyone who wants to gain knowledge. The secure payment methods by CCAvenue, PayPal etc. make transactions easy to deal with. Everything is on click now, we just need to get started with it.
The on-demand economy has revolutionised the education sector. If you are skeptical, I will suggest you go and register yourself for some online educational / professional course today and reap their benefits sitting in your home on your couch.
This article was first published on e27, on September 19, 2018.
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