COVID has impacted everyone across the globe. While some industries have thrived, many others have shown unusual degradation in their market value. Due to ever-changing guidelines during COVID, student’s outlook towards education has demonstrated varying degrees of changes as well. The online education mediums have also emerged as the new digital schooling medium. To understand these recent trends, we concluded a study with the help of Prodigy Finance that will unveil the changing dynamics of the education sector and the associated new normal while COVID is persisting.
The impact of COVID on education was evident across the globe. Being the center of COVID origin, China was the first to close the schools in February while the rest 46 countries followed the same by the end of March 2020 when the schools were almost closed. As per UNESCO, educational institute activity data between 17 February 2020 and 30 June 2020Â was collected as displayed by OECD and partner countries, and the observations were made.
*The data includes early childhood institutions to tertiary educational schools
Foreign education has been a popular choice among students. However, during the COVID crisis, a trend change was observed.
To decrease the distance between the classroom and students, digital education platforms have emerged as the bridge.
As per the data collected between 13 September 2017 to 13 October 2020, the search volume of top online education platforms was studied. This result was interpreted among the top players being Udemy, Coursera, FutureLearn, Udacity, and Swayam.
After 27 October 2019, Udemy and Coursera become the top 2 most searched platforms by the audience. A significant boost was registered during the COVID outbreak. This shows online courses were relied upon to boost productivity and skills.
In another research, the market share statistics of leading MOOC platforms were studied, and Coursera has beaten the rivals with 45 Million learners. At the same time, edX becomes the first runner up with 24 Million learners, and the rest followed.
From the above data extracted by research, it becomes clear that COVID has significantly impacted the education sector. As schools were suspended, many students have postponed their higher education plans in a foreign land, while many embraced the idea of digital education positively.
The introduction of digital platforms has provided access to various online programs, and thus many online education partners observed a surge in enrollers. As a result, we can conclude that online education is the preferred alternative for the students until the COVID crisis gets over.
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