The explosion of internet use over the last five years has changed the complete dynamics of the education ecosystem worldwide. Traditional “brick and mortar” educational platforms are now facing the heat with the growing penetration of self-paced eLearning professional courses.
eLearning has helped education expand behind the confined boundaries of a classroom. Besides, it also facilitates the innovative use of technology and the sharing of ideas among students all across the globe.
The current eLearning global market is expanding in the form of live online learning or self-paced learning. Currently valued at over USD 107 billion, the global eLearning market is expected to grow at a CAGR of 18% over the next five years.
While the U.S. and Europe grab a major share of the global eLearning market today, Asia is likely to leapfrog ahead of them over the next decade. Bitszcoin is committed to being a part of the digital education revolution in Asia and Africa.
The wide expansion of Digital Learning Sector in Asia and Africa
Some of Asia’s biggest economies like India has seen a massive explosion in internet users over the last five years. The increasing internet penetration has provided a major boost to Asia’s digital learning sector.
As per ResearchAndMarkets.com India’s digital learning market will grow tenfold in the period between 2019-2024 with an average CAGR growth of ~43.85%. Valued at INR 39 billion in 2018, the sector will grow to INR 360 billion by 2024.
Online learning can’t be regarded as the absolute replacement to physical classroom education, however, it helps to fill all the necessary gaps in the existing education system.
Online learning is rather a low cost affair due to no barriers of physical infrastructure and geopolitical challenges. Asia has major leverage of its demographic dividend with a majority of the population falling in the ‘youth’ bracket.
Thus, with the world set to embrace next-generation technologies, there lies an immense untapped opportunity in the digital learning market of Asia and Africa. It will also help to set the foundation and prepare the youth for jobs over the coming decade.
Opportunities and Limitations In Digital Learning Market of Asia and Africa
The high level of internet penetration and Asia’s huge demographic dividend provides a massive market for digital learning. Some key Asia players and even global learning platforms like SkillShare have already tested the waters with Asia’s digital learning market.
Asia is focused on expanding its digital infrastructure and embrace next-generation technologies like 5G. There’s also a demand for bringing Quality Global Education to big Asian economies like India, and the fastest way is digital.
To make the Asian and African youth capable of next-generation jobs, the regional governments plans to provide digital training to 500 million people by 2022. There’s also a growing demand for online certification in the continent.
However, along with these massive opportunities, there are a few challenges down the road. The major challenge is the shift in mindset as people still doubt the credibility of online education. There’s also a lack of awareness and content quality remains vernacular. A major transition and curriculum update is required shifting from old syllabus to adopting next-generation learning.
Some major changes are required on the regulatory front to promote the digital way of learning. Segments of online test preparation remain largely regulated and reduce the autonomy of private players, ultimately resulting in operational challenges.
Gamification of Learning and Training
Making digital learning more engaging and interesting, Bitszcoin aims to leverage the latest trend of gamifying learning techniques through digital mediums. This process keeps participants motivated and improves their learning engagement.
Gamifying the learning process helps the creators to make it more interactive and keeps the participants hooked. Some local players like Byjus and Khan Academy are already moving in this direction.
The gamification-of-training industry is itself said to be worth more than $10 billion USD. Similarly, the simulation-based learning market also holds massive potential.
About Bitszcoin
Bitszcoin is the first cryptocurrency with the aim to promote online education. The platform promotes digital learning and online certification and options wide options for students looking to enter traditional and non-traditional fields.
Bitszcoin is already conducting its token sale which will end by September 2020. Users can buy their Bitszcoin during the ongoing ICO at a rate of $0.066 per BITSZ coin.
Post the ICO this September 2020, Bitszcoin aims to list the BITSZ cryptocurrency on a minimum of five exchanges. Later, it also plans to list it on the popular crypto index CoinMarketCap.
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