According to a recent Business Today article (Jan 25, 2023), India has become the global second-largest SaaS (Software-as-a-service) ecosystem.
The total annual recurring revenue (ARR) of Indian SaaS firms has grown four times to $12–$13 billion in 2022.
As Adrian Johnston, Senior Vice President, Cloud Applications, Oracle Japan and Asia Pacific (JAPAC), in conversation with Hindu Businessline, mentioned that Oracle SaaS India’s business saw 100 per cent growth in education, and he continues to be very bullish about this segment.
SaaS is a platform approach that gives learners, educators, and institutions access to educational services, including e-learning courses, video lectures, career advice, online assignments and assessments.
It is a software delivery paradigm in which consumers are given Software through the Internet, typically through a subscription.
“SaaS provides strong virtual platforms that can reach dispersed populations regardless of location or background and create a dynamic and interactive learning experience.
These experiences engage students and foster critical thinking,” states Vineet Gupta Ashoka University Founder.
These SaaS-driven Digital learning platforms are flexible, allowing students to learn at their own pace and schedule.
Still, they lack the interaction and engagement that traditional classroom learning provides. On the other hand, the traditional education system has been in place for centuries with its benefits but shortcomings, such as inflexibility and strict schedules.
Combining the benefits of online and traditional models and eliminating various negatives, a hybrid Software as a Service (SaaS) based education platform can potentially transform higher education.
Gupta points out, “The increased emphasis on skill development and employability is particularly driving the demand for the market.
While the traditional education system has benefits, it is high time we embrace technology to revolutionise our learning.
A hybrid model that combines traditional classroom and online learning benefits can provide students with a holistic learning experience and prepare them for the competitive future.”
Saas-based platforms frequently include tools for virtual classrooms, video conferencing, content management, student monitoring and analytics, among others.
By deploying SaaS-based platforms and their traditional teaching-learning process, educational institutions can provide the flexibility of online learning while offering engagement and interaction opportunities through virtual classes, discussion forums and other interactive features.
It can help remove financial, geographical and temporal hurdles frequently preventing people from accessing high-quality education.
According to Vineet Gupta Ashoka University Founder, “Integrating SaaS-based education platforms into higher educational institutions requires a collaborative effort between Edtech companies and universities.
Edtech companies can provide the technology and tools required for online learning, while universities can provide the academic rigour and support required for high-quality education. It is this collaborative Hybrid model that can truly revolutionise higher education.”
Also, on the students’ front, by harnessing these technologies, students can access a more personalised and adaptive learning experience tailored to their needs and preferences.
These technologies maximise educational results and prepare students for the future workforce’s demands.
Vineet Gupta, Ashoka University Founder, highlights, “The integration of SaaS-based education platforms can transform the conventional education model and pave the way for a more effective, engaging and innovative approach to learning.
It can assist teachers in producing and delivering excellent material that satisfies the requirements of the students and, at the same time, provides flexibility to the students in various ways.
We can alter how we teach and learn by fostering a more interconnected and interactive learning environment for students and educators while redefining the education sector globally. It can develop fresh possibilities for students, teachers, institutions and society.”
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