In 2021, the e-learning industry will witness an overall worth of over $250 billion.
Forecasts also suggest that it will only grow exponentially from here on, at an anticipated CAGR of more than 21% from 2021 to 2027. Novel technological advances like virtual reality, artificial intelligence, and cloud-based LMS will stimulate and catalyze this growth.
The past five years have seen e-learning platforms attract heavy investments from corporates and the education sector. In 2019, EdSurge Inc. data recorded investments as monumental as $1.6 billion in the U.S. edtech sector. The booming success of e-learning platforms stems from their ability to free students from time restrictions and inflexible course structures. They give learners the chance to engage deeply, set their own pace, and repeat or skip lessons based on their personal goals and requirements.
The already established use cases and demand for online education were fueled by the 2019 pandemic when operating online became the new norm. UNESCO reported over 1.2 billion students from 186 nations being affected by school closures in March 2020 due to COVID-19. E-learning experienced immense growth in its adoption in the severely hit countries trying to cope with the pandemic.
Another aspect of e-learning is the large-scale upskilling of populations that can then contribute to a nation’s economic growth, economy, and operations. Healthy competition is crucial to helping the industry’s evolution, as it encourages startups to innovate and offer more to users. Studyum is one such inspired project that is disrupting e-learning management with its blockchain and AI-enabled next-gen design.
Studyum’s edge over its competitors
When competitors miss out on an opportunity to optimize, Studyum fills in and takes charge. The following is an analysis of all the services and features Studyum offers in addition to those of its competitors.
MasterClass is one of the biggest, most widely known e-learning websites, offering an incredible amount of educational content every quarter. However, the platform provides very little in terms of advanced features that are a must for optimizing the learning process. Studyum is ahead of its competitors and uses tools like student progress tracker, guidance and motivation, AI chatbot, group learning, real-time class management for educators, personalized content, gamification, and content ranking to empower edtech.
While Studyum appreciates and likes the “learn from the best, anytime, anywhere” motto, it strives to work towards a future where this motto can be taken forward through potent technological advances. Unlike MasterClass, which does not provide progress tracking or testing for students, Studyum offers these and many more features along with real student incentives through gamification.
LiveEdu (LEDU) targets project-based career development and brings the YouTube tutorial-based education model to meet the benefits of blockchain technology. While LiveEdu uses DLT to power its platform, its service remains limited to providing a platform for educators to profit. Studyum, on the other hand, is a fleshed-out medium with an infrastructure that engages students and enhances their learning experience in an all-round fashion.
Studyum can achieve this by integrating AI and blockchain to track student progress and test information retention. LiveEdu does not have these features, which makes Studyum a unique, disruptive platform for e-learning.
Tutellus is similar to Studyum in terms of cryptocurrency usage for student incentives through its native token TUT. The difference between the two platforms lies in their underlying technologies. Tutellus uses a traditional teaching model and makes student profiles visible to potential recruiters. Studyum advances this approach through its AI, VR, and DLT expertise and revolutionizes the learning experience.
The Brave browser uses its native token BAT to implement its incentive-based model for online content. It does not directly compete with Studyum but shares a similar model with it. This blockchain-enabled model involving token rewards has become a success in Brave Browser’s case, acting as solid evidence of Studyum’s growth potential. While Brave Browser lets its users tip content creators through BAT, and allows users to earn by watching ads, Studyum rewards its students for engaging and learning. Here too, Studyum takes the lead through its fully immersive user experience, utilizing the efficacy of VR, AI, and motion-sensing. Its cyclical token model also lets users hold as well as trade tokens.
The EiPlatform is similar to Studyum on the technological and operational front, but is only built for the sports and gaming communities. They are focused on solving the problems in e-sports marketing, which limits their utility to other e-learners. Studyum fixes this by introducing a wide variety of topics and subjects to pick from and encouraging mass adoption. Its model also accommodates advertising by rewarding free services to students who want to watch ads in return for those services.
Preparing for the upskilling emergency with Studyum
Technology will likely transform around one-third of the global job market (est. 1 billion jobs) during the next decade. This advocates time-bound upskilling of the world population to prepare it for the short-term and long-term future. Upskilling is the only effective way to meet the job requirements of the future. By 2022, data shows that 42% of the core skills within diverse job roles could experience considerable change. In this rapidly transforming market, Studyum envisions empowering global populations by helping them adapt and illuminate their future through online education.