A Study on growth in Technology and Innovation across the globe in the Field of Education and Business

Today, we are witnessing an immense digital transformation across the globe. Technology is accelerating innovations, agility, and business growth. Businesses are redefining their operations by incorporating types of technologies like Artificial Intelligence, Blockchain, Machine Learning and Cloud Computing. Education is one of the unattended segments which can be lifted with the help of technology adoption. Higher Education institutions will accelerate the adoption of cloud-based technologies for Student Relationship Management (CRM), Learning Management Systems (LMS), Assessment Management, etc. The Covid-19 pandemic persuaded a rapid digitization and automation which enabled businesses and Education to be flexible even in a time of crisis.Many enterprises adopted disruptive technology and changed their business models to keepup with the changing pace.The impact created by the pandemic will not fade away and the digital shift remain forever. Moving with the imperfection will be difficult if companies or Education Institutions not adopting the new technology trends. This study through light on some of the trending technologies in 2021 that need to be follow and adopt with businesses and Education Institutions in the current pandemic senario. Advanced technology will continue to transform our lives and work by creating big opportunities for Education Institutions and industries worldwide.


Introduction
In the field of educational technology, the majority of its products and services in the market, are the activities that contribute to the education, the experience, the students, teachers, and directors. The world of the 21 st century experiences the limitless technical transformation, as a kind of paradigm, in which the industry and the institutions that move across the board, embrace the digital revolution. The COVID-19 epidemic has greatly changed the way teaching and learning take place. Due to the epidemic, a student tends towards distance learning through various eplatforms.

What is EdTech and why does it matter?
EdTech is recognized as a dedicating technology to promote education. The EdTech is defined as "a facility to improve learning and performance by creating, using and managing appropriate technical processes and resources" by the Association for Educational Communications and Technology (AECT). The teachers defined the EdTech in simple term as "converting traditional teaching and learning into digital form". The Edtech is a process of integrating technology into education to create enhanced teaching-learning practice which results in advanced learning outcomes.

Why does Edtech matter to us?
There are many reasons for teachers to shift from traditional teaching method to EdTech. The following are the benefits of EdTech:

New methods of teaching and learning
Technology is a human invention, the teacher can use it to learn, and innovative. EdTech allows teachers to use multimedia tools to meet different styles of learning, like animation and video, and much more. In addition, it allows teachers to create online courses for students to learn at their own pace.

Improving collaborative learning
Technology allows anyone to stay connected. Teachers and Students can interact, discuss, and exchange views and experience. For example, e-learning as a pedagogical tool that provides purchase support and students to share and discuss. Instead of being in a classroom and listening to a teacher speak for 30 minutes in e-learning students can take part in an online group platform, and learn how to interact with their peers. In this case, the teacher serves as a mentor. The collaborative learning removes the gap between teacher and students, and helps them in improving their self-esteem and social skills.

Teaching and learning
EdTech provides benefit to teacher in teaching both online and offline around the world. There is always a need of a special class at a time; where a student can study at any time, anywhere in the world. On the other hand, edtech is changing the way students learn. EdTech makes learning more fun and interesting for students. When we are too busy in learning, we learn and remember better, and apply the knowledge well in real life. Finally,the technology that makes education smarter and more efficient by satisfying the Learner's needs.

Top Ten EdTech Trends in (2020/2021) E-learning:
Distance education has been the key to the development of learning technologies in 2020, due to spread of COVID-19, and in the schools, it is unlikely that the demand for online education platforms is growing. E-learning in education or training provided in an electronic form. This online course will help the company employees in training with the skills that are required. E-learning, training and education is delivered to students via personal computers, laptops, tablets or smart phones. It is not just save time, but also opens up the doors of the interactive learning process. Instead of living with a passive experience, the students are able to pick and choose what they need quickly and easy-tofind, no matter where they are. For example, by pulling content from one place to another, and learn directly by interacting with the on-screen information. In addition, e-learning also encourage learners to make their own choices on what they will learn next. In e-learning, learners are immersed in knowledge only by reading or viewing the content. In addition, many e-learning courses include animation, podcasts, and videos to create a multimodal and practical learning experience. Teachers are using the benefits of technology to make education more effective. This is the reason that more and more online and blended learning courses are being designed nowadays. Variety is an outstanding feature of online learning platforms. We can teach our students in real-time (synchronous) through live streams or group meetings using Zoom or Microsoft Teams, or record with a wide range of media and digital tasks available to enrich lessons (asynchronous) methods A good online learning platform for monitoring the learning outcomes of our students can also be combined with the Learning Management System (LMS).

Video-Assisted Learning:
The video-aided learning has become more popular in the form of classroom demonstrations. This trend is also thriving in distance learning situations, where students learn through computer screens. Videos, especially animated videos, are helpful for enriching the text and making the content understandable. It is not only enhance student outcomes but also reduces the workload of teachers.

Blockchain Technology:
Blockchain's Distributed Ledger Technology (DLT) brings a lot of benefits for education, especially in data storage. Each time new data is added by adding another "block" to the system. Also, the data will be encrypted and distributed across multiple computers in the system. This makes the transaction data decentralized and transparent. Blockchain technology is used in MOOCs and eportfolios to verify skills and knowledge. The DLT system will respond to the certification, scale, and cost problems of e-learning agencies. In addition, it can help student applicants to publish their achievements during the search phase of the job.

Big data:
To meet the needs of learners the learning experience should be personalized. And with COVID-19 and the boom in online learning, we now have bigger data than ever before. Instructional designers have relevant information about learners' experiences to adapt and present the curriculum in an appropriate format. Some information that you should look for is course content, learner enrollment, learner performance (time per course, completion, test result), and learner feedback (rating, survey).

Artificial Intelligence (AI):
Now a days AI is the "in Thing" in the US Edtech market. People have predicted that by 2021, AI may become the primary trend and increase by over 45%. So why is the trend booming in one of the world's largest markets for EdTech? First and foremost, AI can automate basic activities in education, such as grading. It is now possible for teachers to automate the grading of multiple choice and blank questions. Thus, automatic grading of students' writing cannot be far behind. In addition, both the learner and the teacher can benefit from AI. For example, students can get help from AI tutors when teachers are too busy to take care of everyone. Also, AIdriven programs can provide supportive feedback to both learners and teachers. Therefore some schools use AI systems to monitor students 'progress and to alert teachers when there is a problem with students' performance. Therefore, it is not too far-fetched that AI is a powerful aid to teaching in the classroom. Meanwhile, why don't you help your learners get the most out of the educational experience through AI?

Learning Analytics:
The present perspective of learning analytics, in particular, in the field of higher education has been greatly expanded. Learning analytics only allows teachers to measure and report student learning via the web. This makes it possible for them to better understand and optimize learning.
When teachers read insights from students 'learning processes, they can accordingly improve their students' knowledge and skill acquisition. For example, teachers are able to see what type of information (lessons, pictures, infographics, or videos) students like the most and use it more in their following lessons. Also, teachers are able to notice which fractions of knowledge were not effectively distributed and may increase them next time. In addition, learning analytics helps teachers identify blocks of students who may have educational or behavioral challenges. With this, teachers can develop a way to help students reach their full potential.

Gamification:
A way to transform learning into a more fun and engaging process, then Gamification is the most appropriate educational technology trend. There is no reason for students not to be actively involved in classroom games. Students can learn and practice while engaging in exciting sports activities. Gaming elements help to create a fun and positive learning environment for the learners.
The adoption of Gamification is the most popular in the K-12 education sector. This is because children are quickly engaged in gaming videos or getting high scores in a game. However, this does not mean that higher education or corporate training do not require fun elements to improve the level of engagement of learners.

Learning with Virtual Reality(VR) and
Augmented Reality(AR): Since the advent of virtual reality (VR) and augmented reality (AR) in education, there has been a tremendous change in the class learning experience. The increase in demand for experiential learning drives the development of learning with VR and AR.
Learning has become much more interactive than traditional methods. While VR provides a created reality, AR provides an augmented view of the actual image. Thus, they help explain complex concepts that plain pictures or even practical experiments of a laboratory cannot show to students. For example, VR is very helpful when you are attending a medical training course. By extension, VR gives students the opportunity to experience real life surgery in a low risk environment.

STEAM: STEM program enhanced edtech.
This new trend of EdTech applies applied science, technology, engineering, art (new element), and mathematics content to solve realworld problems through practical learning activities and creative design.
Regarding the benefits of Steam, the first thing is that it helps students to become more and more curious about the world around them. Apart from this, it also creates a safe environment for the learners to express and experience their thoughts while thinking outside the box. Practical learning facilities also help students to collaborate better with others.

Social Media:
Do we ever think that the social media will be a part of the learning process? When every student, both young and mature, spends more time on social media, why don't we turn it into a powerful tool to enhance learning? In this way, plan of using social media for teaching came up. Many educational institutions have started using social media as a communication tool in which students can interact with each others and share study material, discuss it with others in the group. For example, TEDAD organization creates shareable lessons which are posts on YouTube where people can easily access, and share educational videos with each other. Social media creates a collaborative and sharing culture which leads in the enhanced of the learning practice.

According to Anant Goyal, Director
The world of the Twenty first century is witness an unlimited change in Technology, embracing industries and institutions with digital revolution. The advancements in science and innovation have led to an outstanding and robust technology-driven learning vista where the latest step forward in AI, ML and IoT redefine the way we talk, speak and learn.The Edutech sector is build unexpected commotion through state-of-the-art online learning platforms which engage, educate and empower learners and teachers at the click of a button. Knowledge of online learning platforms connect a large group of students, instructors,and experts in the learning process through state-of-the-art virtual portals. And distributing learning at a nominal cost.In India remote rural village does not have electricity or infrastructure or a government school, yet under the guidance of smart mentors, the government or an NGO provided free homes for children studying on smartphones. This is the real power and potential of online learning platforms which spread knowledge to the farthest and marginalized corners of India. In India, the elearning industry is growing at a growth rate of 25 percent annually. The advancement in Technology and the innovations are the important factors in making online education a viable reality. [1][2][3][4][5][6].

Mobile based education -The Nielsen
Primary Survey conducted a comprehensive study in 2018 for the Indian subcontinent. The study has showed that 57 percent of the online learning audience rely on their smartphones for the accessing the content using EdTech platform.

Massive Open Online Course(MOOC)-It is an online course designed for limitless participation and open access through the web.
With introduction of the Edu-Tech platform and elearning, the existing prerequisites for learning have been disbanded. A smartphone or computer is required to acquire the desired knowledge. Ed-tech platforms offer more than 5000 courses which are taught by teachers globally.

Interactive classroom -
The interactive classroom engage students in their learning by enabling a two-way interaction model between the originator and the learner. It helps students to assess the progress of their research work, explore areas of improvement and get mock tests for exam preparation.

Use of AR / VR / MR in teaching -VR
allows EdTech learners to engage directly with their study material by ensuring engagement and motivation levels for learning. According to Technavio's report, the expected educational VR market is to grow at a Compounded Annual Growth Rate (CAGR) of 55 percent by 2021 and will increase the level to 81 percent. Students can learn directly and experience the immense knowledge with the help of virtual educators who promote real-time experimental observation and partnership engagement rather than outdated theories and doctrinal stability. Equipped with a 24 percent internet permit rate, Learning Online Learning view offers a huge potential for growth and empowerment in the country. Education and technology are building blocks of industry and progress, as they are responsible for engaging the rest of the business world. With technology and innovation in India, learning online education has gained wide acceptance among teachers, students and the entire education ecosystem. Technol is clearly paving the way for maximum digital calibration of numerous sectors in India, with the Edutech ride clearly at the hearing. Noida-based Edtech Company StemROBO Technologies has launched its global learning online learning platform called Tinker Learning which aims to make STEM, Robotics, IoT, Experimental Learning relevant and interesting to students in Artificial Intelligence. The purpose behind the launch of the platform is to adhere to the essential skills of the 21st century and to give students a logical thinking "out of the box". With 200+ mentors, it has registered over 50,000 subscribers within 15 days of its launch. With the company's current affiliation with more than 1200+ schools, the company plans to include 500,000+ customers in FY21-22. The platform aims to provide access to India as well as other global markets in Africa, the UK, the USA and the UAE. Through Tinker Learning, Steamero Technologies plans to shift the entire learning culture of K-12 from 'active listeners' to active producers. The platform will provide each student with an immersive learning experience through strategic technology, projectbased learning and help them solve real-world problems. More employment opportunities and ongoing lockdowns in different parts of the country, and especially in big cities, expand the problems in view of job opportunities and existing jobs. The epidemic has triggered a recession that is the worst since World War Two, resulting in a massive unemployment crisis that will last a long time and hate most businesses. Many industries and owners are facing serious challenges in the country's worst economic crisis.With the remote working, developing, improving or reskilling is the need of the hour, for survival one will have to develop new skills. To survive, in this ongoing Pandemic acquisition of a technical approach is required to electrify smooth functioning of work, and it has swayed everyone to re-skill for new and efficient working methods. The current situation has forced employers to look for additional skilling in candidates, which our educational system is not able to provide.
• Changes in ways of working: Work from home (WFH) is the biggest player in changing the landscape of the working model before and after COVID. Working from home has increased productivity; Technology and digitalization are the biggest contributors to this. To reduce the gap between the skills and the needs of the organization, individuals and companies are working towards re-shaping and skills to adopt new technologies. In order to ensure engagement, monitor productivity, provide advice and create opportunities, the organization will need to adopt this trend to remain competitive.
• Multi-tasking: The epidemic is pushing people towards multi-tasking where leaders need to focus on remodeling or re-shaping the skills of existing employees so that the need can be met and a new model Can be successfully applied and reduce layoffs. For this, companies have to carry forward the knowledge-sharing culture and employees have to keep different hats. A skill development program will be designed as per the requirement of different employees; This one size may not be suitable for everyone.
• New opportunities require new skills: With the change in technology and ways of working, many new opportunities arise that we could not think or imagine a few years ago. To get through a new change, the workforce and individuals also need constant upgrades, and re-skills, to stay in and defeat the competition. New opportunities will also require a new set of skills such as IoT, 3D printing, AI, etc. The present time demands a change in the mindset of the students as well as their parents. Getting jobs and financial stability should not be the only objective. Innovation is needed for that innovative mind and hunger is needed for innovation.
• Fixing and upgrading skilling is a continuous program: It has been found that companies which always launch and upgrade their reskilling program are also those who can easily adopt change and remain relevant and competitive in the business. Skills / technical gaps to stay can overcome. The catch here is preparing and implementing a timely reskilling program.
Organizations that are always ready for potential changes are likely to succeed. There is a need for continuous long-term skill-based programs that can help brighten their workforce to the best of their talent.
Desperate Time calls for a desperate solution, and there is an urgent need for everyone to adopt new skills to cope with the change of time and take advantage of opportunities. COVID can be a blueprint for changes to the working era working model.
The year 2021 also promises to bring about a clear growth of edtech, largely driven by the desire to rebuild power and resilience. Students are eager for tools that help them learn in more engaging and contextual ways and they also want to apply what they have learned and apply it. The start of Edtech will focus on the top 5 teaching methods for next year: a. Strengthening learning -Currently focusing more on providing information rather than helping to develop deeper knowledge. EdTech's future will focus on making information accessible. We will see the integration of ideas to attract children, and focus on play-based approaches to keep students engaged and full of curiosity.
b. Group Reading -EdTech spaces need access to peer-based reading instruction. The year 2021 will see a transition to a small, peer-to-peer group where young students can be encouraged and encouraged by others.
c. Skills development in the real world -EdTechs fills the gap for foreign jobs by 2020, focusing on building real-world skills is still lacking. EdTech has the opportunity to replace skills development and knowledge. At the moment, we see code courses covering the field, but there is more roomteaching students about business, storytelling, making art, designing, and much more.
d. Student start-up labs (project-based learning) -As India's National Education Policy emphasizes innovation in driving. In 2021, we will see a shift towards project-focused learning, in which children will be encouraged to create their own imaginative boundaries, and create a problemsolving environment.
e. Bringing Art to Classes

According to the UNCTAD Technology and Innovation Report 2021 [3]
The Technologies such as Artificial Intelligence (AI), the Internet of things (IoT), big data, blockchain, 5G, 3D printing, robotics, drones, gene editing, nanotechnology and solar photovoltaic (Solar PV) can be used to boost productivity and improve livelihoods.
For Example, AI combined with robotics can transform production and business processes. 3D printing allows faster and cheaper production with rapid iterative prototyping of new products. As a group, these Eleven 11 technologies represent a $350-billion market, and one that by 2025 could grow to over $3.2 trillion.
The major providers of the above technologies are from the United States, a home to major cloud computing platforms. China is also a major producer, notably of 5G, drones and solar PV. For each of the technologies, these two countries are also responsible for 30-70% of patents and publications.
Frontiers technologies have potential of improves people's lives and protect the planet. During the COVID-19 pandemic, for example, AI and big data have been used for screening patients, monitoring the outbreaks, tracking and tracing cases of the disease, predicting its evolution and assessing infection risks.
Currently most technologies are created by firms in the global North which is predominating by men. They focus on the demands of the rich, crowding out innovations that might benefit the poor. Technological change is also shaped by gender inequalities and partly because men have been more likely than women to study Science, Technology, Engineering and Mathematic (STEM) subjects.
To grab and forge ahead, developing countries need to adopt frontier technologies while continuing to diversify their production bases by mastering the existing technologies through the following factors: The global education technology market size was valued at USD 89.49 billion in 2020 and is expected to witness a compound annual growth rate (CAGR) of 19.9% from 2021 to 2028. Digital technology can improve access to education. Learners are increasingly shifting toward eBooks that can be accessed online from anywhere across the globe. Digital content is comparatively easy to generate than printed content, which tends to incur higher production costs. Moreover, digital books are available in different languages and can be easily translated and retrieved by a wider user. In addition, learners, especially with physical disabilities, can listen to the educational content in an audio format to improve their vocabulary and encourage better interpretive reading.
Education technology (EdTech) solutions are evolving with the advancement of Internet technology (IoT), Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR), and the latest technology. The integration of AR and VR in EdTech solutions helps provide an interactive experience to learners which allow learners to research and integrate with abstract concepts. The integration of blockchain technology allows end users to store and secure records of students and learners to analyze usage patterns of the material offered and make databased decisions.
Increasing student engagement is emerging as a major concern for educators. The market players respond to such concerns by introducing advanced interactive whiteboards and touchscreen displays. Moreover, both teachers and learners can access Student Information Systems (SIS) with a primary focus to create a comprehensive student profile that enables knowledgeable decision-makers with a special focus on enhancing each student's performance.
Technological advances enable teachers to collect assessment data directly on mobile devices, reducing the traditional use of paper and pens. Some assessments are eliminating data entry and allowing children to respond directly through touch-screen-enabled devices. Leading players in the market are providing various solutions for their customer base, such as application based education with videos and curated content, especially for the field of early childhood.
The following are the Insights based on the segment/section: a. Sector Insights: The K-12 segment led the market with a revenue share of more than 41% by 2020 and will continue to expand at a stable CAGR from 2021 to 2028 to maintain its leading position. The majority of teachers in the K-12 field support gambling efforts to develop math learning skills by integrating practical, project-based tasks in schools. The integration of technologies enables high-speed content and provides experiences such as virtual field-trips and complex laboratory-based experiments, resulting in an impressive learning experience.
The divison of Preschool is expected to record the fastest CAGR from 2021 to 2028. The advancement in technologies allows educators to collect assessment data directly on mobile devices, reducing the use of conventional paper and pen. Some ratings delete data input and allow children to respond directly to touchscreen-enabled devices. Leading players operating in the market offer a variety of solutions to their customer base, i.e. application-based learning with videos and managed content.

b. End-user Insights:
The trade segment accounted for more than 69% of global revenue by 2020. The greater role may be due to the increased partnership between EDEC companies, academia and content developers to create significant opportunities for the digital education sector. As a result, partnerships and collaborations are increasingly becoming an important part of this growing ecosystem. For example, in November 2020, Ambo Education announced an alliance with Cisco International; Cisco International operates in vocational education, training and certification. The initiative is aimed at providing high quality online courses and certification of Internet and information technology to entrepreneurs and college students.
It is predicted that the consumer segment will register a faster CAGR during the forecast period. It is hoped that this section will promote the understanding of digital formats and its benefits on traditional education among parents and students. Lifelong learning is becoming a trend among adults and corporate workers as it provides suppleness in the time and location to acquire additional knowledge. In addition, massive open online courses (MOOCs) are on the rise around the world due to low-priced online education for consumers. c. Regional-wise Insights: The market is dominated by North America in the year 2020 and accounted for more than 37% of global revenue. The regional market will maintain its dominance during the forecast period due to a plethora of The key factors driving the growth of EdTech market includes diffusion of digitization in the education sector, increase in adoption of Educational Technology tools in academic and non-academic sectors, increase of smart devices, and seamless internet connectivity.

Conclusion:
Finally, we know that we are talking about the teaching of technology, the trend, there's a lot to digest. The technology in education is updated throughout the learning process. The E-learning content is an education tool which extends the access and the convenience of training. And also changes the learning process conduct of the students and a desire to learn. Due to the rapid pace of technological change which is transforming the entire economy and society. For the government to decide how it will unfold, but they can help to shape the technologies that will go into their economy and society in general.For each country, the need for an appropriate STI policy is at its own stage of development. For some, it will represent a step forward in isolating the technology, and in the discovery, efforts to diversify the economy and to reap the full benefits of existing technology in order to improve traditional industries, such as agriculture. Others may be more closely involved in the development of cutting-edge technology. However, all countries are required to prepare for the rapid change in technology. The developing countries can be successful in 21 st century by adopting the approach of building a strong industrial base, and promoting the cutting-edge technology, so that the implementation of the 2030 Agenda, of the global vision of a people-centered, inclusive and sustainable society can be achieved.