Introduction: Recent market research done into the Indian
Education sector has revealed that the Indian Online Learning market comprising
of web based platforms, online applications and blended learning programs would
be a market worth USD 2 billion. The customer base in online learning is
expected to grow six fold from the current 1.6 million users to around 9.6
million by the year 2021. The increasing penetration of technology into the
education market is creating a paradigm shift in the market for education in
India.
Market Timeline: In 2015, the government of India launched a
program to deliver free learning through online platforms; the SWAYAM
initiative has been a government program to launch an online portal available
to anyone wishing to learn in India with a capacity to host 2,000 courses with
over 80,000 hours of video course material. The program was geared towards
accessibility of quality education to rural areas aimed at connecting to
250,000 villages in India providing the population with course material from
class 9 ranging to post graduate courses.
The increasing addition of participants from tier 2 and tier 3 cities
like Patna and Guwahati have been noted to be the primary driver behind the
growth of the market. As of July 2017, it was confirmed that the internet user
base in India had reached 500 million. Educational content has been one of the
most active parts of the internet with Educational related searches on Google
tripling and Educational video demand doubling over the last year. Around 45%
of the searches and queries are coming from beyond the top 6 metros in India.
While a large number of searches and queries have resulted from schooling due
to primary education still having the largest customer base of around 260
million users, the segment is poised to reach 773 million by the year 2021. The
reskilling and certification segment was the most important with a value of USD
93 million expected to grow to USD 453 million by the year 2021. Competitive exams
and other test preparation which is a small segment as of today is likely to
grow at a CAGR of 64% to become a $515 million category in 2021. Even major
corporate are taking initiatives towards reskilling with leading Indian
conglomerate Mahindra and Mahindra entering into a partnership with Indian
American educational tech platform edX to retrain 117,000 of its employees in
various business tasks and skills . The learning platform edX alone has seen
tremendous growth in the last 5-7 base owing to the addition of 1.5 million
Indian customers alone which makes roughly 11% of the platforms total customer
base. This shows the difference accessibility plays and even the government
follows through on the trend. With access to education being the major inhibitor
roughly 25% of students in India pursue higher education which is quite low
compared to 70% in the US. The growing need for accessible education has been
addressed in Formal education as well with the Indian government announcing in
January that they will allow 15% of all Indian universities to offer online
degrees for students and executives. Universities accredited by the National
Assessment and Accreditation Council (NAAC) and rated A+ will be allowed to
offer such courses. Others that want to offer such courses will be allowed a
window of two years to achieve the A+ level in NAAC accreditation. This will
not be limited to specific courses or degrees but will span a wide range of
sectors and industries allowing for greater variety in the options students are
allowed to remotely learn.
The emerging subjects: With Information Technology services becoming
the biggest export and growing to become one of the central pillars of the
Indian economy , a large number of companies and courses have opened up opportunities
for entry into the IT industry within India and abroad by online learning
platforms and services equipped to train students and professionals in the
disciplines of Data Science, Advanced Data Analytics, Advanced Programming and
in Artificial Intelligence and Machine Learning. The most promising of these
opportunities being the launch of Google learning in March 2018 allowing users
to enter the discipline of AI. The platform offers core AI concepts and
opportunities for solving real world machine learning problems. The emergence
of the online learning platform has had a major impact on the growth of online
educational service firms like edX, GC Solutions, Signy, Learnnovators and
more. The opportunity for greater integration and personalization of courses
using AI and Machine Learning can revolutionize learning in the Indian Society
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Ken
Research
Ankur
Gupta, Head Marketing & Communications
0124-4230204
