by Anna Mosolova
The crisis provoked by the coronavirus affected the majority of sectors of the economy. However, some companies not only didn’t experience such a problem, but they also gained profits from this situation because of the enormous increase in demand. One of these industries is educational technologies.
Self-isolation and quarantine made people change their educational routines. Primarily students but other persons interested in studying were required to stop attending classes and start taking their courses online. This jump significantly increased demand in the sector of online education. Simplilearn now is serving 3 million users all over the world and is planning to increase this number by 20% during 2020. Vedantu quadrupled its earnings and added 40% more employees this year. Coursera was already valued at a trillion dollars at the beginning of the year.
However, this overdemand forced companies that offer e-learning to create new ways of dealing with the influx of new clients.
Solutions for the problem of increasing demand in the sector of online education
- Companies tend to cooperate to achieve better results and create a global e-learning community.
- E-learning companies create common digital platforms where they collect educational resources and additional information for helping companies that encounter similar problems.
- Enterprises produce and collect case studies of users’ responses depending on their gender, country, and age, as well as of the use of technology in education. The analysis of this data will improve the quality of provided courses and make it more accessible for all people regardless of their nationality, gender, and age. This work is essential in developing economies where the shutdown of schools and universities deprived millions of students of the opportunity to continue or obtain an education.
- Government and various venture capital companies invest more money than ever before for improving the quality of online educational services and supporting growing companies.
Being a cost-efficient, flexible, and effective source of education, e-learning is now actively growing and is increasing its income by up to 30% per month. 6,000,000 teachers and 50,000,000 students continue studying even during the COVID-19 pandemic due to the existing technologies of online education. Through the use of effective measures for satisfying the current increased demand, companies will overcome this crisis even stronger than before.