The COVID-19 pandemic has forced the world to engage in the ubiquitous use of virtual learning. And while online and distance learning has been used before to maintain continuity in education, such as in the aftermath of earthquakes, the scale of the current crisis is unprecedented. Speculation has now also begun about what the lasting effects of this will be and what education may look like in the post-COVID era. For some, an immediate retreat to the traditions of the physical classroom is required. But for others, the forced shift to online education is a moment of change and a time to reimagine how education could be delivered.
There has never been a better time to build a business selling online courses. By 2026, the global market for online education will reach an enormous $457.8 billion (Global Industry Analysts), and it shows no signs of slowing down. Millions of people are purchasing online courses, inside and outside of the traditional education system, in order to upgrade their knowledge and skills.
It comes as no surprise that in response to this demand, entrepreneurs and subject matter experts from all over the world have started creating and selling online courses to share their knowledge with others.
The COVID-19 pandemic is also likely to have a lasting effect on lesson design. The constraints of the pandemic provided an opportunity for educators to consider new strategies to teach targeted concepts. Though rethinking of instructional approaches was forced and hurried, the experience has served as a rare chance to reconsider strategies that best facilitate learning within the affordances and constraints of the online context. In particular, greater variance in teaching and learning activities will continue to question the importance of ‘seat time’ as the standard on which educational credits are based10 — lengthy Zoom sessions are seldom instructionally necessary and are not aligned with the psychological principles of how humans learn. Interaction is important for learning but forced interactions among students for the sake of interaction is neither motivating nor beneficial.
Covid-19 and its impact on the education sector
- The COVID-19 has resulted in schools shutting all across the world. Globally, over 1.2 billion children are out of the classroom.
- As a result, education has changed dramatically, with the distinctive rise of e-learning, whereby teaching is undertaken remotely and on digital platforms.
- Research suggests that online learning has been shown to increase retention of information, and take less time, meaning the changes coronavirus have caused might be here to stay.
While countries are at different points in their COVID-19 infection rates, worldwide there are currently more than 1.2 billion children in 186 countries affected by school closures due to the pandemic. In Denmark, children up to the age of 11 are returning to nurseries and schools after initially closing on 12 March, but in South korea students are responding to roll calls from their teachers online.
With this sudden shift away from the classroom in many parts of the globe, some are wondering whether the adoption of online learning will continue to persist post-pandemic, and how such a shift would impact the worldwide education market.
Relevance of online education academies in the current times
In the initial stages of the pandemic, most people were ill-equipped with knowledge about making a digital switch in the fields of education. While the educational institutions and government deliberated on how to proceed in the context, students had no option but to wait for a concrete response.
At this time, students heavily relied on online mediums of education to keep pace with their curriculum. The online academies and lessons really came in handy for students at this time who could continue learning uninterrupted with the help of these online platforms.
It is wonderful how easy and feasible technology has made online education in this time of need and how fast it has evolved in the education field to make online education the norm. Now, almost two years after the pandemic, the situation has improved a lot, and more comprehensive courses and detailed lessons are being offered online. This has enabled students to receive extra help from online academies in case they miss a school/college lecture or need more help with understanding. The additional help bolsters student learning and knowledge.
10 Edtech Platforms for Young Learners
There is a long list of companies offering online courses to students and fulfilling their various needs- from personalized classroom teaching to preparing for competitive exams. Here is a list of 10 randomly selected Edtech companies that can be useful for the young learners looking to fill in the gap created by closing down of the educational institutions.
- Henry Harvin
What’s an Online Education Business Worth?
There are over 7 million students enrolled in online learning courses, and this industry is projected to be $370 billion by 2026.
Professor of Economics and Dean of Extended Education at Sonoma State University, Dr. Robert Eyler, will show us the latest trends in online education. All you Professor…
THREE TRENDS that are going on an online education right now,
- One is breadth and depth, and the idea behind that is, is that we are seeing classes that 10 years ago, would have never been imagined would be online going online, including science classes, were trying to do relatively simple things.
Lab experiments using stuff at home have allowed some more breadth and then on the depth size getting higher and higher in terms of the chain toward a degree, rather than just doing low division or low-level classes only. Those trends are starting to pick up where you can do a lot more in terms of full degrees online, and we are seeing a lot of private universities get into that space.
- The second is interactivity.So, not only should it be somewhat lecture-based just to kind of get things kicked off, we are seeing a lot more modeling where it’s more conversational, more seminar-style online, and that’s getting closer and closer to having a full university experience in class.
And a lot of entrepreneurship is happening in that space in terms of being able to use our breakout rooms and do them well. So, best practices are coming out of some of the major education divisions of universities in the United States and around the world and experimenting with good ways of doing interactive online sessions rather than just purely Socratic or didactic movements with one lecturer, sort of sage on the stage, is getting a lot more conversation. And this is especially true for graduate education, where it is the conversation where most of the learning takes place.
- The third big trend is trying to connect it back to face to face. One of the biggest issues concerning COVID-19 is actually having a situation in which you can have some face-to-face. So, a lot of students do not want to have 100% online.
How to Launch Your Own Business Similar to Udemy?
In the current situation, where the world is witnessing a social and economic crisis, online education is seeing a surge in its use. Platforms like Udemy and its competitors are booming in their business, and having a business similar to this platform will yield significant profits during this time. Building a platform like Udemy is not only crucial for the benefits, but it is a great source to add value to the students all across the world. Here is how does Udemy work and how does Udemy makes money to get a deeper understanding of how to establish a business like Udemy.
If you’re willing to start your own online education platform – you should go with Udemy Clone which has customized features to let you roll with your own online education business.
Starting your own e-learning venture could be a very good decision if you want to grab a business opportunity. Now e-learning is the future of education. In order to launch one can either go for customer development and hire a company to build the application. Alternatively, there are ready-made products such as Yo! The coach helps to launch E-learning ventures within a short span of time.