Education technology is a growing industry.
There are over 100,000 software companies in the U.S., but only two are licensed to teach students: BandLab, a cloud-based educational testing platform, and Accelerate Education, a nonprofit that provides education technology services for schools.
BandLab CEO, Jason Schumacher, says it’s hard to predict what the future holds, but he predicts a “tipping point” will occur sometime between 2020 and 2025.
“There are many companies, including BandLab and Accel, that will be in the process of migrating their software to a cloud platform,” Schumachers stated.
“The trend is to do this by 2020 or 2021.
Schumacher says he’s not predicting a single, dominant technology in the education space. “
It will probably be the cloud that is going to be the winner in that transition.”
Schumacher says he’s not predicting a single, dominant technology in the education space.
“We have to be very careful because you can’t predict the future,” he said.
“If the cloud is the winner, we’ll see that as the dominant technology.
Schumachers prediction comes as education technology companies like BandLab are poised to take a bigger bite out of the market. “
Accelerate Education has a lot of products that are going on now, but they have a lot more to come in the future.”
Schumachers prediction comes as education technology companies like BandLab are poised to take a bigger bite out of the market.
According to Schumakers research, the number of education technology licenses in the United States reached $4.3 billion in 2019.
BandLab recently announced its plans to go public, making it the second most-active technology company in the world.
Accelerating Education is working on a cloud education software product called BandLab for Education.
Bandlab is available for free to schools across the country.
Schumakers also predicts there will be a “shift in the educational market” in the next 10 years.
“Education is growing.
Education has become a commodity and education is becoming more valuable.
Education technology has evolved to a point where it’s becoming more of a commodity than a service,” he explained.”
What I’m seeing is the shift in the marketplace.
I’m very bullish on education technology.
Education is going from being a commodity to being a service.”
Schamp said he doesn’t think there’s a specific industry where BandLab is the leader.
“I’m not sure BandLab will be the leader, but it certainly is the market leader.
I would say that education technology is going through a shift,” he stated.”
BandLab is one of the few companies that are taking a really aggressive approach to education technology and have a really great team of people.”
Accelerated Education has launched a $1 billion fund to support the creation of an incubator program for education technology startups.
Schamp says the incubator will help fund more startups and create more opportunities for educators to expand their skills.
Schump believes that education is going the way of the automobile.
“It’s been a great ride,” he declared.
“Education is becoming a commodity.
There’s no question about that.
We are seeing an acceleration of the evolution of the education market.”
We see a huge opportunity for education in the coming years.
We see that education technologies are going the same direction as automobiles and everything that comes along with it.
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