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New Zealand’s Education Technology Poised to Grow

 A recently-released report by EdTechNZ outlined that New Zealand’s Education Technology (EdTech) is set to become one of the country’s key industries. Worth NZ $173.6 million in 2020, EdTech software is poised to grow to NZ $319.6 million by 2025, the report details. Specifically, the report cited how New Zealand’s EdTech sector is to shaping up to grow in the software segment. All in all, thirty companies are featured in the report, ranging from well-known industry leaders to fledgling startups.

At the heart of the digital transformation of education technology has been the pandemic. COVID-19 is seen as the driving force behind the digital transformation of learning, permanently changing the way education is consumed and delivered — right from pre-school through post-tertiary education and lifelong learning.

As a result, this has created opportunities to bring schooling into the digital age, making education more personalised, interesting, effective and rewarding. Seeing these opportunities, many startup companies were looking to push the envelope.

These methodologies have made the teaching of traditionally hard-to-learn subjects (e.g., maths, literacy, and languages) a lot easier. To date, these have resulted in new methods of learning:

  • experiential learning
  • augmented and virtual reality
  • artificial intelligence supported learning
  • assessment and learning management.

With an excellent reputation for education as one of the world’s pre-eminent sources of education technology, most of these companies are focused on exporting their technology to the world. In short, it has the potential to make a big impact on the world of teaching, given the country’s skills, experience and reputation.

Indeed, the possibilities offered by educational technology is growing by the day. Immersive technologies are leading the charge. A technology that is showing a lot of promise is the metaverse. With it, learners are offered a bigger world to learn and play with. That means the learning experience would be a lot more impactful giving the student a more efficient way to learn.

The markets are growing exponentially for EdTech. Experts detail the global EdTech market size was valued at USD 254. 80 billion in 2021. That market is bound to grow to as much as USD 605. 40 billion by 2027. No small number by any measure.

Still, challenges, both at home and abroad, abound in the EdTech sector though. These include a constrained domestic market, unhelpful procurement practices, a lack of centralised coordination, fragmented overseas markets, and a tight supply of talent. However, EdTech is constantly sriving to stay aead of the game and, as echoed by an  EdTechNZ executive, Aotearoa could be all set.

In view of the challenges involved, the report recommended six key action points. Top of the list is the development of a national EdTech strategy. And that means cooperation for all stakeholders. That’s true for educators, learners, entrepreneurs and government, in order to effectively export innovative technology to the world for the benefit of all.

If there is a country that is poised to carve a lion’s share of the EdTech market, then New Zealand should be part of that list. The strides made by the Pacific nation towards digital transformation has been consistent. Lately, it has started working on a Central Bank Digital Currency (CBDC) which should make it at par with some of the world’s most technologically advanced countries.

But that’s not all. The country has been covering a lot of bases in its bid for digital adoption. As reported on OpenGov Asia, Aotearoa is mandating the use of eInvoicing for its central government and for the business community as a whole.

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