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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.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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