Digital learning is expected to fill the voids created by the traditional stagnant system of education. A business venture into this field is definitely going to pay off as various factors are inclined in its favor.
Digital education is yet another arena of development which is showing an efficacious growth in India as a consequence of technological advancement. The digital education industry is expected to surpass $1.6 billion by 2021. The tremendous growth of these statistics suggests that digital learning has a bright future ahead and is going to be a promising venture for edupreneurs to dive into.
Digital learning is expected to fill the voids created by the traditional stagnant system of education. A business venture into this field is definitely going to pay off as various factors are inclined in its favor. Here are some of the factors that make a business venture in digital learning profitable.
Growing Job-Seeking Population
According to recent reports, India has estimated 18.6 million jobless people in the year 2018. This is because there is a lack of skills in the people regardless of being highly educated. With this adverse scenario coming into the picture, job seeking population is relying upon the online skill development courses, which help them acquire the skills and abilities without spending much. This has boosted the demand for the digital education.
Deeper Internet Penetration
With the sudden breakout of internet accessibility in India, it has become quite perceptible for people to explore the world of internet and digitisation. With the introduction of cheaper internet services by telecom operators like Idea, Airtel and the most remarkable of them all, Reliance Jio, internet penetration in tier 2 and tier 3 cities has provided a platform to people who are open to learn various things online and free of cost. This internet penetration will be able to increase traffic for online education players.
Recent advancement in technology has given birth to the most interactive computer-generated experience, which we call Virtual Reality. As it incorporates visual, auditory and sensory stimulation, education sector can reap so many benefits by applying virtual reality. Virtual reality can be used in various learning techniques where the primary concern of the students is to gain perceptibility about the concept, such as differentiating between different textures, learning Braille and many more. As virtual reality is gaining worldwide expansion, most of the online education players are employing it in their businesses, which eventually give their business a boost.
According to the recent survey of National Sample Survey Office, parents spend Rs36000 on their child’s secondary education in government schools for six years, and Rs 3, 96,000 in private schools. And as education level increases, the expenditure also increases. But, when we talk of digital education, it is always available online and its accessibility is not costly at all. This pocket-friendly aspect of digital learning has opened new doors to the growth spurt of the business.