Advanced Technology Will Boost the Global Market to One Trillion by 2030

The global education technology market will reach $998.4 billion by 2030, with a CAGR (compound annual growth rate) of 17.3%, according to market researcher P&S Intelligence. The market size was estimated at $237.6 billion in 2021. The growth will be fueled by the emergence of AI, IoT, digitalization, and EdTech solutions. The incorporation of VR and AR will support a more interactive learning experience. Additionally, blockchain technology will enable users to store and secure the records of students and learners, thereby allowing administrators and educators to analyze the consumption patterns and make data-driven decisions. Other driving factors will be the developments in connectivity infrastructure, surging smartphone penetration, increased speed of the internet and 5G technology, smartphone apps, and growing investments by private equity and venture capital firms. This researcher emphasizes the rising usage of EdTech in China and India, boosted by their government's financial help. Today, China has 282 million students and 17.32 million teachers in more than 530,000 schools, according to UNICEF. The COVID-19 pandemic has boosted the adoption of advanced educational technology, forcing many students to enhance their skills and strengthening their reliance on educational technology.

Open edX & Learning Platforms Newsletter | March – April 2022: Cornerstone – EdCast, Zoom, Class.com, D2L, Jenzabar, Canvas, Docebo, Labster…

Online Learning Newsletter | March – April 2022: Skills and Life-Long Learning, Crypto, Universities, Start-Ups…

Ellucian Completes the Acquisition of Financial Aid Company CampusLogic

Jenzabar Buys a Leading Marketing Company to Face Student Decline Crisis

Boston-based EdTech Jenzabar, Inc. announced yesterday the acquisition of marketing firm Spark451 for an undisclosed amount. The transaction comes a a time when enrollment strategies are seen as a solution to overcome the declining student population in the U.S. higher education. "By acquiring Spark451, we can better help institutions build future-proof enrollment strategies that allow them to find, attract, and engage with their best-fit students while simultaneously extending their reach toward the fast-growing, non-traditional student population," said the company. Based in Westbury, NY, Spark451 is known for using data and strategic marketing techniques, including analytics and predictive modeling. It specializes in enrollment marketing, student search, creative services, and digital media, serving over 200 higher education institutions. The enrollment crisis has continued amid the pandemic. According to the National Student Clearinghouse Research Center, overall undergraduate enrollment dropped by 6.6% from 2019 to 2021, representing a decline of over 1.2 million students, while community college enrollment dipped by 13%. This enrollment decline is forcing colleges of all sizes to find new ways to build their brands, achieve their enrollment goals, and create new revenue streams by attracting non-traditional students who want to secure lucrative jobs in technology, healthcare, business, and other sectors. "The model for higher education needs to be reinvented as learner demands change," said Ling Chai Maginn, Founder, President, and CEO of Jenzabar.

Canvas LMS Acquires the Micro-Credentials Issuer and Partner Badgr

Instructure Holdings, Inc. (NYSE: INST), owner of Canvas LMS, announced yesterday the acquisition of partner Concentric Sky, the maker of Badgr, for an undisclosed amount. Currently, Badgr is the default micro-credentialing tool within Canvas LMS. Now, Badgr will be rebranded as "Canvas Badges." "With Badgr, the Concentric Sky team has developed the gold standard for verifiable, skill-aligned micro-credentials, fast becoming the currency between learning outcomes and employment opportunities," said Steve Daly, CEO of Instructure. "Colleges and universities are seeking innovative new ways to support non-traditional learners and those students want a greater agency to demonstrate skills and achievements to potential employers." Users of the platform can also upgrade to Badgr Pro's advanced suite of tools in new "Canvas Credentials," offering unlimited badging, leaderboards, analytics, and personalized pathway progress visualizations. According to Instructure's 2021 State of Student Success and Engagement in Higher Education survey, preparing students for post-graduate careers is the #1 concern. However, administrators and students agree that this is where institutions struggle most. Skills-based learning also emerged as a priority, with 70% of respondents saying that having definable skills is more important than course titles or a degree. Founded in 2005, Concentric Sky has 90 employees and provides recognition from over 25,000 issuing organizations. Concentric Sky has been a contributor to the field of open technology standards, joining forces with the MacArthur Foundation to lead the development of Open Badges 2.0 in 2015 and co-founding the Open Skills Network in 2020.  

Open edX Reorganizes Its Collaboration Tools on the Software Roadmap

Coursera's CEO Says that Company Revenues Will Grow 30% in 2022

Opera Launches its Crypto Browser with a Built-In Wallet for iOS Phones and iPads

Crypto Deepens Financial Literacy Education Gaps Across Millennials

Financial literacy education needs a major overhaul to keep up with generational shifts in investing and retirement planning. The Investopedia 2022 Financial Literacy Survey, released this month, revealed that, in addition to the changing nature of financial literacy, one in four millennials is using crypto to fund their retirement. The survey asked 4,000 U.S. adults—1,000 each from Gen Z, Millennial, Gen X, and Boomer generations—about their financial know-how, habits, worries, and retirement plans. Other findings include that millennials are just as likely to be invested in cryptocurrency (38%) as they are in the stock market (37%), and 1 in 4 say they're relying on crypto to help fund their retirement. The research states that 10% of Gen Z, 15% of Millennials, and 13% of Gen X are invested in non-fungible tokens (NFTs). More than half (53%) of Gen Z respondents expect to stop working before age 60, and many intend to rely on social security (27%) and crypto (17%) to fund their retirement. Among members of Gen Z, 39% of Gen Z investors report getting their investing information from YouTube. 30% turn to TikTok for personal finance information. Internet searches (39%) and conversations with friends and family (44%) were also cited as important sources of information. Respondents said they want to learn how to do their taxes (34%), reduce debt (31%), and build or improve their credit score (30%). "Our relationship to money, investing, and financial planning has radically changed in the past few years," said Investopedia Editor in Chief, Caleb Silver. "New asset classes like crypto and NFTs have emerged just as millions of people are taking their first steps into investing. These changes require a modernized approach to financial education—one that provides people of all ages with knowledge of new, emerging, and traditional financial products and services. As financial educators, it is our responsibility to make sure we are fostering that literacy as far and wide as we can."

Zoom Releases New Features for Education, Including Breakout Rooms

Zoom announced yesterday through a blog-post new features for universities and schools to enhance the learning experience, including the possibility of masking background. The Zoom for Chrome Progressive Web Application (PWA) now supports Chromebook virtual and blurred background features. Educational institutions can even limit the virtual background library to specific backgrounds, like ones with their school’s colors or mascot, while preventing students from uploading their own images.   Another interesting feature released is Breakout Rooms, which facilitates small-group activities and discussions, enabling users to show videos with audio. With Zoom's LTI Pro integration enhancement, it comes the ability to pre-assign students to rooms within the school’s LMS. Zoom Chat is presented as a new tool for real-time and asynchronous communication with students outside of class. It allows the ability to record a video message up to three minutes long that goes directly into a chat channel. Students can submit quick video assignments to teachers directly or post them on a group chat channel, where other students can comment and provide feedback. Teachers can also record a short video to answer a student’s question or provide a quick explanation that might be difficult to capture in a text-based message. Instructors can rename students in the Waiting Room before admitting them to the main Zoom session. Later this month, Zoom will be releasing an enhancement to polls.

......

The AI-Native University

Blueprint for the Institution of the Future

A practical guide for leaders reimagining higher education with AI at the core — not as an add-on, but as the foundation for how students learn, faculty teach, and institutions govern.

By Mikel Amigot

Read the book