Blog 8

Bytescare is All Set to Participate in EdTech Asia Summit 2022!

Tuesday, October 18, 2022

After a delay caused due to the Covid-19 pandemic conditions, the reputed EdTech Asia Summit 2022 is all set to take place in Singapore on October 27 – October 28, 2022, and Bytescare is elated and enthusiastic to be a part of it. The Founder and CEO of Bytescare, Vineet Kumar, will be one of the speakers at the event, discussing the ever-important subject of Cross Border Intellectual Property (IP) of Digital Content in Education – Perspectives & Strategies. Accompanying him would be Esther Wee – Partner, Head of IP at Harry Elias Partnership, and Aarushi Jain (Moderator) – Nishith Desai Associates, Head of Education Practice. The discussion will take place at Stamford Hall – Room A on October 28th from 11:45 A.M. to 12:30 P.M.

Founded in 2013, the EdTech Asia Summit is APAC’s very first EdTech and Future of Work business and impact leadership network that invites entrepreneurs, impact leaders, corporate executives, academia, consultants, and thought leaders. The exclusive EdTech Asia Summit, welcoming learned minds, will address the current and forthcoming trends of the EdTech Asia industry. The event will feature content that talks mainly over six thematic tracks including strategic growth, future ahead, smart capital, learning work, core issues, and the evolution of the sector. The EdTech Asia Summit 2022 program will furthermore include insightful workshops, VIP dinners, business matching, networking activities, and EdTech delegations, allowing productive networking among people. 

The prime aim of the EdTech Asia Summit 2022 is to network with like-minded and learned people about the rapidly evolving and growing EdTech industry through the insights provided by them and sharing them across. Some of the other speakers at the summit include Gaku Nakumura (Founder of RareJob), Akshay Chaturvedi (Founder and CEO of LeverageEdu), Mike Michalec (Founder and Managing Director of EdTech Asia), with others. EdTech Asia additionally promises to provide resources and yearly activities that allow networking and engagement within the market. 

An Overview of the EdTech Market

The arrival of the Covid-19 pandemic led to numerous changes in our lifestyles. Apart from the constant use of masks and sanitizers, other changes took place around us that changed us forever. And reversing these evolutions is impossible. A few such changes were increased use of technology and social media, rapid digitization, and an ever-increasing requirement for upskilling and learning. The massive growth that Ed-Tech Asia saw in the past two years is beyond question. 

In India, the EdTech market is expected to experience four times growth within the next five years. The current worth of the Indian EdTech market was close to $2.8 billion in 2022, which is predicted to grow up to $10 billion in 2025. Some of the major reasons for the rapid growth of the industry include increased use of mobile phones, cheaper Internet, increasing purchasing power, and increasing competitiveness that leads to increased demand for upskilling and reskilling. 

Being one of the fastest growing sectors, the EdTech industry has been able to win the trust of investors all across, which has led to its even faster growth in Southeast Asia. As more and more people continue to shift to digital methods of learning and upskilling, the online education sector experiences continuous growth. Statistics reveal that during the pandemic, the internet market of South East Asia saw a significant growth of 5% in 2020. In India, more than 696 million people are Internet users. With the advent of digitization, the educational sector too has experienced massive growth during epidemic conditions. 

In South and Southeast Asia, the number of EdTech firms has also increased in the recent lustrum. In this significant rise, India is home to the most number of firms with 8,700 EdTech companies. On the other hand, Singapore has 421 EdTech firms running in the country, providing online education. Apart from online learning providing organizations, companies dealing in educational services to workforces are also at a rapid rise. When comparing the cities, the most number of EdTech firms are located in Bangalore and Delhi, dominating the South and South Asia EdTech market. 

Trends in the EdTech Market

The education sector has always been one of the stagnant ones when talking about digitization. However, with the arrival of Covid-19, it experienced rapid investment and growth. Currently, several new trends reign the EdTech industry, making it more advanced and potential for further expansion in the forthcoming years. Some of these trends that facilitate easy and fast learning among individuals are: 

  1. Enables Personalized Learning: Every student is different and learns at their own pace. The traditional learning methods addressed students as a group and not as an individual, which is the reason why the growth of some students always took a backseat. With digital learning methods, personalization of learning has become possible. It enables students to decide their own pace of learning, choose their own instructional approach, and take advantage of various other benefits of personalized learning. 
  1. Gamification Eases Learning: Employing fun and interactive gaming elements to the learning allows easy and fun learning among students. EdTech companies prepare short games and other interactive learning methods that encourage students to learn, by making it an easy process. 
  1. Video Learning: The pandemic circumstances led to a significant rise in the consumption of videos by people all across. With this evolution, EdTech companies employ video learning to facilitate upskilling and reskilling among individuals. Many brands have video lessons imparted by professors that help in the facile understanding of even complex educational concepts. 
  1. AR/VR Learning: Artificial learning that enables students to learn at their own pace with the help of personalized learning is another trend that is widely used by EdTech companies. Apart from facilitating the process, it also helps in the reduction of distraction, improving engagement, and memory retention among students. 
  1. Online Learning: One of the latest trends that have enabled the growth of the EdTech market is the implementation of virtual learning in schools, universities, and institutes. Being able to educate oneself from the comfort of the home has enabled an increased demand for upskilling. Furthermore, virtual learning has not only been beneficial for learners but has also led to reduced operational costs for companies. With reduced costs, making education available at economical prices has become possible for organizations. Lower prices additionally result in better sales and better profits for EdTech companies. 

Considering the above-mentioned trends, the future of learning, work, and skills development are expected to improve in the forthcoming years with the advancements in the education sector. The EdTech Asia Summit 2022 aims at discussing the subjects of EdTech growth, the rapid evolutions in the industry, and the ways of coping with these changes. 

Challenges Faced by the EdTech Industry

Although the digitization of education has led to the expansion of the EdTech industry, it also faces challenges that hinder its growth. Some of the challenges that the market faces today include: 

1. Content Piracy: The availability of advanced tools and technologies in the era of digitization poses a threat to an increase in content piracy in the EdTech industry. The premium content of websites like Byju’s, Vedantu, etc. gets pirated online and becomes available on pirated websites or even social media. This leads to huge revenue loss to be borne on the part of these firms. Furthermore, sometimes the premium customers of these brands share the content at much cheaper prices. 

2. Fraud Cyber Attacks: The increased risk of cyber attacks is also one of the challenges faced by the EdTech industry. Many times, content pirates are skilled professionals who dupe visitors into clicking on malicious ads. By clicking on these ads malware and ransomware get downloaded on their systems, and they are later asked for money to get access to their systems back. Such fraud cyber attacks are widely worsening the brand image of reputed EdTech companies. Furthermore, piracy makes inappropriate age content available to the audience.

3. Loss of Revenue: EdTech firms lose a hefty amount of their revenues to the problem of content privacy. According to MUSO, there were 52.5 billion visits to piracy sites. And when compared with the previous year, there was a horrifying 58.5% increase in visits to piracy websites in the content publishing sector. The upsurging cases of content piracy do not only lead to losses but also result in job losses and poor brand image, which can be destructive for these businesses in the long run. 

Solutions to Content Piracy for EdTech Companies

Digital piracy solutions are indispensable for brands dealing in education in order to protect the future of learning, work, and skills development. Digital piracy is a crime that leads to disappointment and discouragement among creators. Some of the solutions to protect the invaluable content in the EdTech industry are: 

1. Creating Digital Awareness: Now that we are living in a digitized world, everyone must acquire more knowledge than just scrolling through their social media feeds in order to stay protected. The digital era demands awareness. Many times, students, while consuming educational content online, are not even aware that they are at a corrupted or pirated website. Such websites then defraud them. To combat content piracy, digital awareness among the audience is of utmost importance. 

2. Anti-Piracy Solutions: As threats of content piracy rise, many organizations also protect the unlawful circulation and production of their content by adopting anti-piracy solutions. Pre-piracy solutions help protect the content online before piracy has taken place through services like DRM and watermarking. Post-piracy solutions, on the other hand, protect the data by taking down pirated content and keeping a close check on any suspicious activities. 

3. Cost-effective Content: A prime reason that leads to content piracy of e-learning content is the difficulty to access premium content. To prevent the risks of digital piracy, companies should try making their content cost-effective and affordable for people. For example, Discovery Plus offers its subscribed content at a minimal price. 

4. Take Legal Action: Even though piracy is a crime, it is still prevalent due to the leniency with which it is treated. On coming across acts of piracy, organizations and creators should opt for legal procedures to avoid it from happening in the future. Furthermore, copyrighted content should be registered legally to keep the chances of piracy at bay. In addition, the government should also come up with strict digital piracy laws and punishments that help businesses steer clear of piracy. 

EdTech Asia continues to expand at a great pace as a result of rapid digitization and technological advancements. EdTech Asia Summit 2022 is about to take place in Singapore from October 27 to October 28, 2022. The event is expected to address the trends of the EdTech industry by networking with entrepreneurs, investors, leaders, and corporate executives. Bytescare, providing its exclusive anti-piracy protection services to the EdTech industry, is content to have its Founder and CEO, Vineet Kumar, as one of the many speakers at the event. 

As the industry expands, the risks and challenges that it faces also increase. One of the most destructive ones is content piracy. Leading to adverse consequences like revenue loss, malware, cyber-attacks, and poor brand image, the need for anti-piracy protection services for organizations also rises.

Meet the founders of Bytescare, Vineet Kumar and Manish Jindal, at the Bytescare Booth at EdTech Asia Summit 2022 to know more about anti-piracy solutions that can keep your content safe!