E-learning market in India is estimated at more than 3 billion at present.
India’s online Education market is set to grow USD 1.96 billion and around 9.6 million users by 2021 from USD 247 million and around 1.6 million users in 2016. More than 370 million users are on internet in India helping online education to grow at a fast pace. E-learning market in India is estimated at more than 3 billion at present.
Scenario of the Online Education Market in India
The Online Education market in India currently stands at 247 million and is estimated to witness an 8* growth over the next 5 years to reach the USD 1.96 billion mark in 2021.This growth will be backed by a phenomenal rise in the paid user base for online Education in India, which is expected to grow from the current base of 1.57 million users to 9.5 million users in 2021 at a CAGR of 44%. The growth of Online Education in India will be driven by a combination of demand, supply and macroeconomic drivers.
With the introduction of many conductive 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.
Key Categories of Online Education
Primary and Secondary Supplemental Examination
Reskilling and Online Certification Market
Language and Casual Learning
Source: KPMG Report, Online Education in India: 2021
Growth of Online education
Online education provides a low cost alternative
Online channel provides quality education to potential students
Growing job seeking population drives the demand for industry relevant training
Government initiatives to drive adoption of online education
Internet penetration witnessing exponential growth across India
Growing smartphone penetration across India to drive technological adoption amongst masses
Significant increase in disposable personal income
Beas Dev Ralhan, CEO & Co-founder, Next Education India Pvt. Ltd quoted “According to a report by Global Market Insights, the global e-learning market was valued at over USD 165 million in 2015 and is expected to grow at over 5% from 2016 to 2023, exceeding USD 240 million. The statistics clearly indicate the growth that this sector has been experiencing, and this trend is expected to continue. Interestingly, the report also forecasts that the e-learning market in the Asia Pacific region and particularly in India is poised to exhibit the highest growth within this period.”
Online education played an important role in developing Indian education industry overall in terms of money as well as innovation. Most of the population are on internet and learn everyday something from it. Online education provides the medium for students to develop skills just by sitting home at free of cost. Innovators and investors kept on looking for better opportunities in online education as it is a growing industry and have scope of improvement in India.