Digitalization of the Education Sector
Due to the disruption caused by the pandemic the education sector has had to re-think how to deliver education. It is now expected that education can be delivered fully digitally and virtually in an efficient and cost-effective way. With this shift, there are challenges and opportunities for teachers, students, and administrators.
The EdTech market size was valued at USD 254.80 billion in 2021 and is expected to reach USD 605.40 billion by 2027, growing at a CAGR of 15.52% during the forecast period according to Report Linker on the Global Outlook & Forecast 2022-2027.
While there is an accelerated need for digitalization in the education sector there are also opportunities caused by rising demand on the transaction side. At OMMAX we have not only supported companies with the strategy and execution of digital solutions for the education sector but have also advised leading private equities in this sector.
Challenges and Inefficiencies in the Education Sector
- Public system and constraints provide a further hurdle for introducing new digital technologies for educational purposes
- Students and parents are hesitant to share their data and profiles due to increasing security concerns
- Competing priorities hinder governments from fully realizing digital potential in the education sector
- Insufficient technical skills and digital knowledge impede educational delivery
- Remote working can be socially isolating for some, necessitating innovative solutions.
- Not enough digital knowledge transferred from school age
- Challenges when it comes to exams and tests situations that ensure comparable and reliable knowledge checks that are not bias by cheating
- Comparably high investments needed from both the teachers and the students to have a very good setup for digital knowledge transfer – hinders equality of opportunities
- Missing standards and best practices with regards to knowledge transfer
Digitalization and Innovation Provides Many Opportunities
Educational Strategy Development
Analysing the (business) need and the audience to make sure the strategic approach, including the infrastructure, learning concept and knowledge management fits the requirements of the use cases.
Digitalization can provide better accessibility to education worldwide, which is especially important during a pandemic.
Operating in the education sector requires innovative and trustworthy solutions to handling private data.
By offering centralized and easy-to-use platforms, more students, teachers and administrators are granted the flexibility to easily access online educational services and avoid complicated bureaucratic processes.
When the education sector uses technologies, an innovative and collaborative culture is fostered when translating content material in several languages and reaching students worldwide.
Develop Workforce Digital Skills
Developing digital skills through in-house and external workshops will improve the digital competencies of staff, facilitating the efficient delivery of educational services.
We work together with our education sector partners to drive their digital transformation projects and to create solutions tailored to the needs of millions of teachers, students and administrators worldwide.
Ease of access is critical in the education sector where digital solutions are often not up to date. We build platforms that allow students, teachers and administrators to more easily interact and access education remotely. We provide a range of solutions to our partners from the development and implementation of easy-to-use platforms solutions to a comprehensive audit of the education sector.
For many of our clients the continuous development of their workforce as well as the regular knowledge sharing within the organization is a core challenge. OMMAX develops concepts that can be easily embedded in the daily business to ensure the important access to knowledge for many employees at the right time, trough the right channel and in the right amount. We support with both customized solutions but also implement existing infrastructure that serves the needs of our clients. No matter in which career level someone is in and regardless of the content, access to education is relevant for any kind of business.
Our international team has assisted >1500 realized projects in digital strategy, digital operational excellence, data science, and transaction advisory services. With a team that speaks over 20+ languages, and a 50% female-male ratio, we ensure both effective communication and representation throughout the advisory process.