Can vernacular edtech ever become mainstream?
It is believed that the next phase of growth in all the industries will be pioneered by vernacular. A big chunk of the customer base is the core middle class, especially emerging middle-class families in tier 2 and tier 3 cities, where Hinglish and other vernacular languages are spoken. This demographic is also referred to as the next half billion, which consists of nearly 528 million people. Isn’t that quite massive? This chunk is soon likely to create a $400 million opportunity. This is because rural India has just 352 million internet users, out of which almost 60% are not actively using the internet.
Vernacular offerings will be a huge success in bridging the divide between India and Bharat, creating a massive opportunity for start-ups addressing this target group. In the last two years, the learning gap has also widened in India. With that being said, as the next half billion is expected to come from rural India, it will also come with its own sets of challenges, such as accessibility and internet connectivity. Electricity is another major concern that still exists in rural India.
One of the biggest challenges apart from bandwidth is establishing a brand for each state. The entire market cannot be considered as one as each state is a different market on its own. The vernacular market is on everyone’s radar currently and is a very big opportunity. 90% of India does not speak English, having more than 55 languages in India with one million speakers each.
Acquiring students is also becoming costlier in many ways. The ed-tech sector does not seem to be on track to match the heights of the previous year, given the current year’s pace of funding. It is not the end of the Ed-tech space in any manner. Ed-tech start-ups always had huge ambitions and a lot of fuel in the last two years, as even giants are scrambling for stability.
From September 2020 to June 2022, the ed-tech sector minted as many as six unicorns, such as Unacademy, Eruditus, UpGrad, Vedantu, Lead school, and PhysicsWallah. Before these two years, India only had one unicorn, which was Byju’s. It is seen that apart from valuation, even funding picked up greatly. To learn about valuation in-depth, you can enroll in the FRM course. The ed-tech sector, however, does not seem to be on track considering the current scenario. Amid the boom seen in the last two years, uncertainties such as lack of profitability and heavy acquisition costs are a few of the reasons behind the slowdown.
Let us deep dive and understand what’s changing.
- From research, it has been found that nearly one-third of online learners believe that virtual learning does not substitute for traditional learning due to a lack of interaction with instructors and peers.
- Low completion rates of online professional courses due to lack of feedback and interactions further underline the need for having multiple models.
- There is no doubt that in-person education or physical classes have their perks. Students learn discipline, become competitive with their peers, develop social skills, and build student-teacher relationships.
- Online education, on the other hand, also has its benefits such as time-saving, convenience, bridging the geographical student-teacher gap, etc.
The Ed-tech start-ups have now started seeing a decline in funding and subscription levels because of a decline in demand for online education. The Ed-tech space has breached $3.5 billion in market size, yet it is going through a rough patch with growth-stage capital drying up, which is why firms are forced to either shut down or cut back on jobs. This is encouraging the start-ups to change their current strategies.
Vedantu plans to open physical centers while maintaining the virtual approach. Byju’s is soon planning to invest another $200 million to open brick-and-mortar tuition centers for school children. By early next year, it also plans to launch 500 centers in 200 cities. Unacademy also announced its foray into offline learning through its new centers. UpGrad, which is expanding its global presence, is also pushing the need for physical counselling centers for parents and students for understanding its offerings. Like Aakash institute, these centers will combine physical and digital presence. Brick and mortar colleges too are adding value-added services online, which is gaining a lot of prominence.
Thus, apart from the client acquisition perspective, having an offline presence can assist brands to develop trust among low to middle-income parents who might have seen TV commercials or online marketing but are hesitant to invest in a digital-only mode of instruction.
Upskilling is the need of the hour. Upskilling improves the skills of the existing employees as well. EduPristine provides flexible modes of training such as classroom training as well as live virtual training, which is interactive.
If you plan to upskill, you can feel free to visit our website or get in touch with our counsellors. EduPristine provides professional courses such as theACCA course, CPA course, CMA course, and PGP-BAT course in the accounting domain. For finance professionals, it offers theCFA course, financial modeling course, and FRM course. For all marketing enthusiasts, it offers a digital marketing course. All the best and happy learning!
related blogs
Key Reasons Why Upskilling is Important
As we navigate the challenging yet exciting journey of studying finance and accounting, we wanted to share some valuable advice Read More
All About Evolving Aviation Industry
India’s aviation industry has witnessed significant transformations in recent years, with the emergence of low-cost carriers, the expansion of domestic Read More
How India’s Digital Payment Revolution is Reshaping the Economy
Hey there! So good to have you back again. In this blog, we will discuss the recent developments, explore the significance, Read More
Understand the catastrophic impact of a possible US Debt Default
Hello there! Welcome to our new blog. In this blog post, we will explore the potential catastrophic effects of a Read More
RBI Bids Farewell to Rs. 2000 Notes
Hello there! Welcome to our new blog. In this blog, we will explore the recent decision by the Reserve Bank Read More
Key Insights from the Economic Survey 2022-2023
Hello there, students! How have you been? Today, we will explore more about the recent economic survey, 2022-2023. Economics Read More
What is Digital Marketing? What is the objective?
Hey there! Ever wondered what is the main objective behind practicing digital marketing techniques? Digital marketing has now become a Read More
Why you must consider being a Certified Management Accountant
Hey there! So good to have you back again. Are you someone who loves planning, analyzing, and adjusting monthly Read More
Key Insights from the Economic Survey 2022-2023
Hello there, students! How have you been? Today, we will explore more about the recent economic survey, 2022-2023. Economics plays Read More
What is Digital Marketing? What is the objective?
Hey there! Ever wondered what is the main objective behind practicing digital marketing techniques? Digital marketing has now become a Read More
Why you must consider being a Certified Management Accountant
Hey there! So good to have you back again. Are you someone who loves planning, analyzing, and adjusting monthly budgets? Read More
All About Classroom Training vs Online Training
Hello there, students! How have you been? Today, we will explore more about the recent economic survey, 2022-2023. Economics plays Read More
All About Axis-Citi Acquisition
A significant move initiated by Axis Bank, India’s third largest private sector lender, to acquire Citibank’s retail business has become Read More
Can vernacular edtech ever become mainstream?
Hey there! Glad to have you back again. Did you know that with the next half billion students coming from Read More
Indian start-ups need to start taking corporate governance seriously, why?
Hey there! Glad to have you back again. Wondering why Indian start-ups require corporate governance? If yes, then this blog Read More
How to Level up the Overall Digital Marketing Strategy?
Hello there! So good to have you back. Did you know that more than half of the brands today either Read More
Snapchat for Business
Hey there! Welcome back again. In this blog, we will understand how to use Snapchat for businesses to stand out Read More
What will Digital Marketing Look like in the Next 20 years?
Hey there! Do you wonder what digital marketing will look like in the next 20 years? If yes, then this Read More
Importance of Soft Skills
Hey there! So good to have you back again. In this blog, we will understand the top 5 skills and Read More
Why are Mr. Men and Little Miss characters all over the social media?
Hey there! Welcome back again. If you’re on social media, you must have probably come across Mr. Men and Little Read More
How global firms are looking at the Indian investment market
Hey there! So good to have you back again. Wondering, how the global firms are looking at the Indian investment Read More
Role of Keywords in Digital Marketing
Hey there! Welcome back again. Did you know that a proper keyword search lies at the heart of a successful Read More
All About the Social Media Careers and the Skills to be Mastered
Hey there! Happy to have you back again. Did you know that social media careers are taking off? Well, social Read More
All About Leadership in a Multicultural World
Hey there! Welcome back again. Ever wondered what a global mindset is? If yes, then this blog is a must-read Read More
All about Metaverse and why is metaverse important for brands?
Hey there! Welcome back again. Wondering what exactly Metaverse is? Is it a video game? Or is it just another Read More
Why will the Netflix business model need more than just a quick fix?
Hey there! So good to have you back again! Wondering why the Netflix model will take more than just a Read More
Financial Models and How to Create them Effectively
Hey there! So good to have you back again. In this blog, we will understand how Finance Professionals can create Read More
Top 5 Digital Marketing Trends to be Followed
Hey there! So good to have you back again. Wondering what marketers have been doing so far in 2022? If Read More
Best Practices for Financial Management
Hey there! So good to have you back again. In this blog, we will discuss a few essential tips for Read More
How did the crisis in Sri Lanka impact India?
Hey there! Welcome back again. In this blog, we will discuss how the crisis in Sri Lanka is impacting India. Read More
Objectives of Risk Management
Hey there! So good to have you back again. In this blog, we will answer the most frequently asked question, Read More
Career Options After Qualifying for the US CMA Course
Hey there! So good to have you back again. Are you curious and want to learn more about the job Read More
Skills That Make You Proficient in Digital Marketing
Did you know that digital marketing is a dream job for many people today? Let us find out why? If you are Read More
What Are The Different Types of Financial Markets?
Hey there! Welcome back once again. In the last few blogs, we discussed the financial markets and their functions. We Read More
How Indian Students Can Pursue the US CPA?
Hey there! So good to have you back again! Are you also wondering how can Indian students acquire the international Read More
Equity Derivatives and Benefits of Equity Derivatives
Hey there! Welcome back again. Ever wondered what are Equity Derivatives? If yes, then this blog is a must-read. Equity Read More
What are Black Swans in Risk Management?
Hey there! So good to have you back again. Are you wondering what the term “Black Swans” in risk management Read More
Will Digital Marketing Replace Traditional Marketing?
Hey there! Welcome back again. One of the most frequently asked questions we often get is, will digital marketing ever Read More
Functions of Financial Markets?
Hey there! Welcome back to another blog on finance. In the previous blog, we discussed what are financial markets and Read More
How to Calculate GST (Goods and Services Tax)?
Hey there! So good to have you back again. Are you also keen on learning how to calculate GST? If Read More
Why are Financial Markets Regulated?
Hey there! Welcome back again. Are you also curious and wondering why are financial markets regulated and why are they Read More
Does an Accountant Need an MBA?
Hey there! Welcome back again. Are you the one among others who is confused and want to know whether an Read More
Why is ACCA Not Recognized in The USA?
Hey there! Welcome back again. Have you ever wondered why is the ACCA course not recognized in the USA, but US CPA Read More
Is the US CMA Course Appropriate for Working Professionals?
Hey there! Are you a working professional and want to pursue the US CMA course simultaneously while working full time? If yes, Read More
What is a Derivative?
Derivatives are financial contracts that derive their value from the performance of an underlying asset, or group of assets, or Read More
What is Derivative Market?
Did you know that derivatives are also considered advanced investing? Well, derivatives can be called secondary securities whose value is Read More
Types of Acquisitions
Hey there! Welcome back once again. Have you ever wondered why do many acquisitions succeed just as many who fail? Read More
Types of Mergers
Hey there! Welcome back again. In the previous blog, we discussed what are mergers and acquisitions. In this blog, we Read More
What are Mergers and Acquisition?
Hey there! Welcome back again. Mergers and Acquisition sound quite familiar right? But ever wondered why are Mergers and Acquisitions Read More
Do Indian Companies Hire CFA’s?
Hey there! So good to have you back again. Are you planning to do CFA and wondering whether Indian companies Read More
What Should I Study, US CMA or Digital Marketing?
Hey there! Welcome back again. Are you confused and wondering which course to study, US CMA or Digital Marketing? Well, Read More
Types or Methods of Business Valuation
Hey there, Welcome back again. Let us understand what business valuation is and its different methods. Let us get started. Read More
What is GST? What Are The Career Opportunities in GST (Tax domain)?
The tax system in India has undergone tremendous changes since the introduction of GST. GST stands for Goods and Services Read More
How to Manage Risks in a Business?
Hey there! Welcome back again. Do you know one of the most critical factors to be kept in mind while Read More
How to Work On a Digital Marketing Project for Practice?
Hey there! Welcome back to another blog. We will be discussing the tips on how to work on a digital Read More
What is Digital Marketing? What is the objective?
Hey there! Ever wondered what is the main objective behind practicing digital marketing techniques? Digital marketing has now become a Read More
Is CA the only optimal career option for commerce graduates?
Are you also thinking about what is next after B.Com? Is pursuing CA the only option for commerce graduates? Let Read More
All about the US CPA course
Topic: Is CPA preferable after CA? Are you a qualified Chartered Accountant and wondering what is next after CA? If Read More
In your opinion, what makes a good Financial Model?
Are you aware that a good financial model can help multiple start-ups and small businesses? With this, now let us Read More
What is Business Valuation?
Business valuation is the general process or result of determining the economic value of a company or a whole business or Read More
Does CFA has any scope in India?
Is it worth becoming a CFA (Chartered Financial Analyst)? Is it worth investing nearly three years, spending about 900 study hours, and Read More
Career Advice: Is doing the ACCA over a CA a better option?
Hey there! So good to have you back again. This blog is mainly for those who are confused regarding which Read More
Which is a Better Career Option, CFA or FRM?
Hey there! Welcome to another blog where we discuss which course is better, the CFA course or the FRM course? We will be Read More
What is the procedure for enrolment for the CPA program for beginners?
Hey there! So good to have you back again. Well, if you are planning to pursue the CPA course then Read More
How Do People Judge the Quality of Financial Modeling?
Hey there! Welcome back again. Are you also wondering what is Financial Modeling, that everyone in the finance industry keeps talking Read More
What is the Reality of a Career in Digital Marketing?
Hey there! Welcome back again. Do you wish to get better clarity on what is the actual reality of a Read More
Which is Better CMA or CIMA?
CMA and CIMA sound quite similar right? Are they the same? Are you also confused and wondering which one is Read More
Is CFA in India Good for a Career?
Hey there! Welcome back again. Are you thinking about how good is the CFA as a career option in India? Let’s deep Read More
I Desire to Get an ACCA Degree, but the Tuition is too Expensive. Why is the ACCA Course Expensive?
Hey there! So good to have you back again. Today, we will be answering the most frequent question which is, Read More
Are There Any Job-Oriented Courses After Completing Graduation?
Hey there! Congratulations on completing your graduation. Are you now ready and excited to pursue job-oriented courses that will help you secure Read More
Is Financial Modeling from EduPristine Worth It?
Hey there! Welcome back again. Let me begin by asking you a very simple question which is, did you know Read More
Does Digital Marketing Have a Great Future Ahead?
Why Digital Marketing course is trending and has so much demand? What topics are covered under the Digital Marketing course syllabus? Is Digital Marketing Read More
What are the Benefits of Pursuing FRM Course(GARP)?
You must have heard about the term FRM or Financial Risk Manager several times, but ever wondered what exactly is FRM, how Read More
What is the Syllabus for CPA Course? Is it the Same as CA or Different?
Hello there! Welcome back again. Are your curious minds also wondering whether the syllabus for the US CPA course is similar to Read More
What are The Top Skills a Commerce Student Must Have?
Hey there! So good to have you back again. Did you know companies are more inclined towards selecting candidates who Read More
Leave a Reply