Australia has 350+ edtech companies which provide services to overall education ecosystem. Most of the Australian edtech solutions provide assistance to as well as enrich the growing market of online education.
In the last five years, Australian online education has grown at a faster rate, driven by technological development as well as rising positive public awareness of courses delivered online. The educational institutions have made use of the internet as well as mobile technology to provide education to a greater number of students.
Across the globe, there are more than 1000 education providers in Australia that use online mode to provide education and generate around $3.3 bn in revenues.
In the upcoming period, Australia’s NBN would help online education to grow.
As per the Australian EdTech Market Census 2019 released by Deloitte and EduGrowth, the Australian EdTech sector is almost twice in size in the time frame from 2017 to 2019.
There were 168 respondents in the Census, and as per the estimates of EduGrowth, there are around 600 EdTech companies that function in Australia. Further, the rising population in the growing market is forcing huge expansion as well as the demand for educational services. As projected by Deloitte Access Economics, there would be one bn learners throughout the twenty-nine global markets by 2025.
Thus, in order to meet the rising demand, the education sector would need to upscale itself significantly. This will open the way for EdTech solution companies that would deploy advanced technologies like Artificial Intelligence, AR/VR, robotics as well as other innovations that intend to target the specific learning requirement and outcomes at a faster rate and scale.
The data obtained from the Census shows momentum as well as growth in the Australian EdTech market with ‘Future of Work’ solutions getting traction
In the present scenario, where COVID-19 outbreak has resulted in travel restrictions on numerous Australian international students, the relevance of the digital platform which supports students along with their education cannot be overemphasized.
In response, EduGrowth, which is the country's education technology & innovation industry hub, is organizing the webinars on providing Australian edtech & digital education beyond borders. EduGrowth has also received multiple requests from the education providers about Australian edtech firms that help in the facilitation of online learning.
In this article, we would walk you through some of the education technology companies that are listed on ASX.
OpenLearning Limited (ASX: OLL) is an online learning platform that not only provides content delivery but also focuses on community, connectedness, and learner engagement. The design of OpenLearning platform is based on the company’s philosophy regarding learning. The company believes that in-depth and effective learning is possible when learners are active in building, discussing as well as reflecting instead of learning and repeating.
The OpenLearning platform provides fun, encouragement and social learning experience. Other than this, the course preparators are provided with the tools that they require for creating a learning community instead of only an online program.
The company makes provision for blogs and galleries to present work and solicit feedback along with collaboration amongst peer groups. There is always an opportunity to showcase individual qualities while leveraging the company’s solutions.
Janison Education Group Limited
Janison Education Group Limited (ASX: JAN), an Australian-owned, ASX-listed education technology developer which is constituted of specialists & developers who design online evaluation systems & learning solutions for global businesses, governments as well as education groups. The company started more than 20 years ago and aims to transform the way people learn.
The company provide solutions like online assessment, online learning and eLearning content. These online solutions are scalable to millions of participants. Janison builds flexible learning solutions supported by a robust technological backbone.
The company’s online assessment platform facilitates exams and tests which cater to summative and formative assessments characterized by dependable delivery.
3P Learning Limited
3P Learning Limited (ASX: 3PL) is a global leader in online education. 3PL’s learning resources are planned for schools as well as for families that cover topics like spelling, mathematics & literacy.
3PL is being trusted by more than 5 million students and 17,000 schools around the world. The company creates award-winning learning material that is linked with numerous international curricula, matching, engaging & gamified educational stuff to the standards, results & needs of schools across the globe.
The company believes that the learning process is at its most powerful when it captivates the imagination of the learner, with independent learning both encouraged and enabled by the company’s resources.
Retech Technology Co., Limited
Retech Technology Co., Limited (ASX: RTE), an investment holding company incorporated in Hong Kong with subsidiaries in Mainland China and Hong Kong and aims to become one of the leading and foremost e-learning solutions providers in the world.
The company’s product and services include e-learning platform, e-courses & e-learning solution consulting as well as operational Service. The products and services of the company allow its clients to offer offline training content online through various channels or devices like computers, mobiles etc.
Through its product and services, the company provide solutions that capture the rising e-learning technology trends as well as build a comprehensive e-learning ecosystem incorporated into the training system of its clients.
ReadCloud Limited (ASX: RCL) is an Australian software company which has developed a unique eReading/eBook platform that offers digital curriculum to 250+ schools throughout the country.
The company has a distribution agreement with more than 25 leading publishers of the world like Oxford University Press, Jacaranda, Macmillan, Penguin Random House, Hachette and Harper Collins for digital content. It also has a partnership with its multiple resellers that provide the curriculum of the schools in Australia in digital form.
Its eReading platform provides vast functionality around the distribution of curriculum involving the capability to collaborate inside eBooks. Both students and teachers would be able to share notes, questions, videos and weblinks directly inside the eBooks. Thus, this capability leads to converting the eBook into a place where they can have discussion, alliance and social learning. This exercise boosts the learning outcome.
ReadCloud also provides Vocational Education and Training (VET) in schools via the Australian Institute of Education and Training (RCL’s subsidiary) that offers 37 VET courses and Auspicing services to 140+ schools throughout the nation.
Schrole Group Ltd
Schrole Group Ltd (ASX: SCL) provides innovative, technology-based solutions for the education sector, which generates revenue from its four business units. These are:
- ISS-Schrole Advantage for the international school market: It is an online SaaS platform that allows international schools to streamline the recruitment of faculty as well as candidate management activities.
- Schrole Verify: It is the new global standard for background assessment that is mandated in international schools.
- Schrole Cover: It is a cloud-based platform that involves calling the desired staff, who is required to provide relief, just by tapping the button.
- Schrole ETAS: Schrole ETAS or Schrole Education and Training Advisory Service offer certified training solutions personalized to the contexts in which SCL's client operates.
Stock Information (as on 20th March 2020):