Remote Working Scenarios, Fears of Job Security & Breaking of the Time Management Barrier has improved the Acceptance and Adoption of Online Learning
With the Coronavirus pandemic taking the world by storm, schools, colleges and offline training institutes have been forced to close doors and shift their learning online. However, Ed-Tech companies are reaping the benefits of the increased time at hand of digitally-charged learners, who have now become more than accustomed to the concept of online learning.
Ed-tech companies across the Lifelong and Professional Learning segment have been experiencing high jumps in user base, leads generated, online queries and site traffic.
Statistics indicating COVID-19 period impact for Upskill and Reskill Ed tech platforms
Growth
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Description
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20-25%
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Expected monthly growth in revenue due to Covid-19 for Higher and Professional Education Ed-Tech Market
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40-50%
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Rise in New Users in April 2020 for Ed-Tech Players due to Covid-19
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50-60%
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Increase in the number of Enquiries and Leads Generated for Ed-Tech Driven Skilling Programs due to Covid-19 in April 2020
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Source: Ken Research Analysis
Irwin Anand, India MD for Udemy tells us: “We’ve seen a huge demand in every end of our business during the lockdown. Be it from Individual learners, to instructors, to corporates or employees within corporations who are now learning from home. 3 weeks pre to post, we’ve grown more than double in most of our metrics. Learners from countries such as Italy, France, Spain, US and UK have seen more growth as they have been worst hit from COVID-19.
“We had around 1.5-2 million enrolments for our courses in March 2019. That number has risen to 5.9 million in March 2020” shares Raghav Gupta, India and APAC MD at Coursera. “A course launched by Imperial College London titled Science Matters: Lets Talk About COVID-19 has been experiencing popularity from people who want to learn about the disease. Yale University’s Science of Well Being is now our third most popular course in Healthcare.”
Professionals are now able to find the time to up-skill and re-skill and rethink their long term career growth. upGrad has seen a spike of 50% in its lead volumes between 2 to 15th March. Online users who have enrolled with Simplilearn for Cyber Security, Cloud, DevOps, AI and Data Science programs have jumped 15% in March. Intellipaat has seen a 30% jump in site traffic over the last 30 days in April and a 40% increase in students wishing to re-attend classes.
A lot of companies have taken stock of the larger opportunity at hand and introduced carefully tailored products aimed at expanding their target base with a major focus on the largely untapped college student segment. A lot of the focus has been on introducing free programs, which play a dual role of giving users a taste of the company’s learning platform and essentially adding the user to the company’s learner ecosystem
Coursera on 12th March, made its Coursera for Campus offering with 3,800+ courses and 400 specialization programs, free for colleges, up-to July end. They have already received 27,000 requests for the platform from colleges in India, for a platform that was launched as early as October 2019. Udacity is now offering a month of free access to its Nanodegree programs, essentially providing learners the opportunity to learn a high-tech skill such as ML, Data Analytics, or Software Development in a month, for free. upGrad has tied up with Agora.io, a live multimedia streaming service provider, to launch a live learning platform accessible to colleges, universities and NGOs for free. Simplilearn has launched a Campus Connect initiative, with free access to its premium Learning Paths for faculty and individual skill courses for students in about 200 Indian universities. Intellipaat has launched Intellipaat Academy, a free Foundational Course repository focusing on providing early level understanding of emerging technologies to early professionals and engineers, as part of its CSR Initiative during the pandemic
Ed-Tech companies are now hoping that Covid-19 would be to Online Learning, what Demonetization was to the Online Wallets industry. Only time will tell, whether that prediction proves to be true. As of now, Ed-Tech players are betting high on Online Learning becoming part of the Education Landscape in the country in a few years.
For more information on how the Indian Ed-Tech Landscape for Career Focused Programs is changing, refer to our research titled,
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