The Edutech industry recently has gained more potential to extend its wings and expand to a wider market due to the current pandemic situation. Examples include vocational training and digitization of schools. However, the industry in fact still remains uncharted with only a few players and is very segmented as each level of education needs a different approach. This is what makes the industry very interesting.
In the future, the industry could be serving learning management systems through business-to-business partnerships with educational institutions, however, currently, it is still mainly consumer-centric. Zenius is an example of this, offering access to more than 80,000 videos on various subjects for grade 1-12 students.
This consumer-centric approach though doesn’t really benefit the business from the profit side as it is not a high-profit generating sector. Only 8 out of 35 Edtech companies are considered to be profitable. Due to this, there might be a change of approach to LMS (digitization of classroom) in the near future although consumer-oriented approaches will still dominate the market. Due to the huge potential of this industry as well, funding aids of millions of dollars are given as well.
In the future, the Edtech industry in Indonesia is expected to grow faster and bigger than ever before. Big players will ‘play’ in education for kindergarten to Grade 12 students while the new players would emerge in university supplementary lessons and vocational training. Upskilling workers, language learnings, and early childhood education are also three of the most expected areas that will emerge greatly in Indonesia’s Edutech industry.
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