With the recent pandemic, it is easy to assume that startups in edtech in Southeast Asia and worldwide had their time in the spotlight with the movement of education from traditional in-person teaching. The reality is that edtech startups have long existed in the region, transcending geographical limitations while catering to several different learning styles.
The online education market is on track for a banner year in 2024, with a projected revenue of US$2.06 billion. However, analysts expect the market to cool down slightly over the next few years, with a compound annual growth rate (CAGR) of -4.16% between 2024 and 2028. This means the market size is still expected to reach US$1.74 billion by 2028, but the growth won’t be as explosive as in 2024.
Expert insights on the evolution of EdTech in Southeast Asia
However, there are vast differences and some similarities between the region’s nations, allowing multiple startups to spring up to fulfil these needs. As these old and new learning technology companies evolve, we look at how they improve the methods and quality of learning available in Southeast Asia.
Deconstructing edtech in today’s time
Education technology—or edtech—is using technology to strengthen the learning and teaching experience. Students now face a different learning adventure compared to that of past generations. While those who grew up in an analogue generation used books to look up and analyse information, the entirety of human knowledge is now in our hands. Gen-Z & Alpha students are digital natives who have had the internet since birth.
The amount and speed of information available forces educators to reevaluate the skills they should teach and how to deliver information. Artificial intelligence is now synthesising information for students, meaning many old methods are on their way out. How does this impact edtech startups in Southeast Asia?
The scope of edtech in Southeast Asia
The ASEAN region is ripe for edtech. Unlike densely packed areas like Europe, Southeast Asia is vastly spread out geographically. Standardising educational programmes using online solutions can guarantee the delivery of quality content to even the most remote areas. Indonesian platforms like Zenius and Ruangguru specialise in this type of content.
Another factor impacting the sector’s growth is the combination of a growing middle class and a large youth population composed of digital natives, which is a fantastic mix for educational platforms. Humanity has witnessed rapid technological advancement since the Fourth Industrial Revolution’s arrival. High-demand skills are digital-based, so content delivery focusing on these elements prepares future generations for the job market’s needs.
Singaporean grantmaker Octava Foundation released a report in 2021 covering the general state of the tech-based learning scene in Southeast Asia. After studying five Southeast Asian markets (Indonesia, Malaysia, Philippines, Thailand, and Vietnam), the Foundation has noted the needs variance within each market. However, just as importantly, there is a need for significant investment to initiate an influx of technology in government schools across the region from an implementation and public policy perspective.
This investment deficit raises a strong argument: the gap between urban and rural areas might widen due to the lack of digital infrastructure, so state efforts to expand the technological net should be at the forefront of any government’s agenda.
Individualised needs and the tertiary education sector
Despite improvements, edtech appears to be falling short in one area: personalisation. The big content delivery platforms have a blanket approach. While their geographic reach might be vast, how much do they truly cater to the individual needs of each student? However, some examples exist in the region where personalisation is the main objective.
Singaporean application Snapask, a mobile-based app, allows students to take a photo of a concept they’re struggling with and upload it to connect with an online tutor so they may have a 1-on-1 learning session. Founded in 2015, the company has over 350,000 tutors assisting 3.5 million students in Hong Kong, Taiwan, Singapore, Malaysia, Indonesia, Thailand, Japan, Korea, and Vietnam. Furthermore, Snapask offers a B2B solution, using big data analysis to create learning resources for companies.
Some companies are developing platforms to continue professional development and training after school and college to serve advanced education needs. Founded by Indian executives and based in Mumbai and Singapore, Emeritus transcends the K-12 world. Since 2010, it has catered to professionals in all areas of study by forming partnerships with the world’s top universities, offering affordable and accessible high-quality learning and training programmes.
Some schools that offer programmes via Emeritus are The Wharton School, Harvard Medical School, Carnegie Mellon University’s School of Computer Science, and other universities and colleges in Mexico, Brazil, Spain, and Colombia that offer programmes in different languages.
Research to date is only the beginning of an ongoing study and evaluation of the needs and potential of edtech in Southeast Asia. However, the groundwork is being laid, and the facts are clear: edtech is integral in addressing the new generation’s learning styles and needs. By advancing the state of tech-based learning, education in Southeast Asia will have the opportunity to grow and flourish, and the variety of startups catering to this market will bear witness to the business and investment possibilities in the region.