The Covid-19 pandemic benefited China’s online education, e-commerce, and social media industries.
China has adapted their market to the pandemic and has shifted online with new several trends appearing. The number of digital educational users in China has tripled in growth within 4 years and is expected to increase by 62%
Summary:
- The number of digital educational users in China is expected to increase by 62%.
- New trends are emerging in China’s tech sector in 2020, especially in light of the developing coronavirus outbreak.
- There has been an increase of the older generation joining in online.
Despite being one of mankind’s largest public health crises in the last century, the coronavirus outbreak was a windfall for China’s education technology business, because the digital and online technologies allowed multitudes of out-of-school students to continue to be educated, and kept students occupied at home. The number of digital education users in China has tripled in growth in only 4 years, whereas the sector’s worth is projected to rise by 41%.
The online education business is thriving, where schooling is turbocharged through technology and digitalization. It was one of the numerous industries strengthened by the Covid-19 pandemic, including e-commerce, digital streaming and entertainment, and social media. During the outbreak, older folks decided to take up the digital world with great enthusiasm. With users in the age bracket of older than 41 increasing their internet usage by 14% in 2020 compared to last year.
E-commerce, entertainment, social media, messaging, 5G, cell phones and smart gadgets, automated vehicles, digital finance, online learning, and health care are the quickest developing and most promising sectors in China’s technology economy. Among the key trends in the focus are 5G telecoms, the exponential rise of live streaming, e-commerce as well as the continuous movement of Chinese tech firms to raise funds closer to shore.
