With increased Internet penetration amid a surge in smartphone ownership, the online education industry in India is poised to hit $1.96 billion by 2021, according to a joint report by Google and KPMG.
The online education market in India is highly fragmented due to the presence of several vendors offering varied products and services. With the extension of service offerings, technological advancements, and an increase in mergers and acquisitions, the competition will get more intense.
The primary and secondary education category has the largest addressable audience with a student base of around 260 million when compared to the other categories. Owing to this, the primary and secondary supplementary education segment was the second largest category in 2016, and will grow at a CAGR of 60 percent to reach $773 million, making it the largest category in 2021, the findings showed.
With the introduction of many conducive government policies, the market for online education in India has a positive outlook until the end of the forecast period. In a bid to extensively incorporate digital literacy in India, the government is making policies related to technology adoption and online education delivery infrastructure. The Digital India Initiative is one of the key initiatives with a long-term vision to provide quality and technologically aided education. This initiative aims to bridge the digital divide by providing high quality and affordable broadband services across the country. Moreover, this will facilitate the use and integration of devices like smartphones and tablets, across the country.
Mr. Raunak Jain, Managing Director of Tula's International School, opines that, "The growing penetration smart phones into a major cities, and the progress that internet has made, has opened up a vast arena of knowledge which is easily available online. With technology climbing the ladder of efficiency in every field, the largest addressable audience which is the primary and secondary education category, hungers for new skills. With the limited boundaries of the traditional mode of teaching, major cities are being equipped to appease the education-hungry students and professionals. With the introduction of specialized subjects such as culinary management, cyber law, dental training etc. The 3 tier and 4 tier cities will definitely avail of these opportunities and encourage the progress of online education."
According to Vinay Goyal, Director SRS International School,” With the adequate advancement, a conclusive structure hybrid education system has emerged to synergize the sector. Redundant practices in education inhibit understanding a subject to it’s truest extent, something that can be only supplemented by digitisation of content. The response towards digitisation of education has been heartening as not only pupil of Tier I or Tier II but also, students of Tier III cities are also taking the benefit of online education. The abundance in availability of internet, with its pocket friendly pricing has opened up avenues for students to imbibe this valuable tool. With time we are set to revolutionize education to its truest sense.”