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Leaving behind age old traditional teaching methods, education companies are now cashing in on online learning or e-learning to reach across wider geographies. Thanks to the internet diffusion and entry of technologically advanced handy products which in
India's online education market size is expected to touch US$ 40 billion by 2017,” confirms a recent report by India Brand Equity Foundation (IBEF). Today, the major catalysts of growth behind the rapid growth of India's e-learning market are shifting preferences of consumers, availability of online courses, and the escalating internet accessibility via desktops, laptops, smartphones and tablets within the country. The traditional classroom model has now transformed into a new age learning that is quick and can be accessed from anywhere. Other reasons behind the popularity of e-learning is that it gives personalised attention to students', highly skilled teachers give one-to-one tutorials to students and employees sitting at a comfort of ones' home. All you need is a good internet connection to access virtual classes. Today, E-learning or online learning is evolving rapidly in the India's education industry. The industry is burgeoning inch by inch as many edupreneurs are entering the online space with out-of-the-box ideas to boost students' enrollment and make profits via quality of teaching methods. E-learning is not just restricted to schools, coaching institutes or vocational training centres, in fact; many Indian conglomerates are strategically adopting this platform for employee learning and training as well.
Digital education is the new trend
In an endeavour to digitalise the education system, the e-learning market in India is set to grow faster as the Prime Minister Narendra Modi's administration recently launched the 'Digital India' campaign in an effort to bring rural India into the digital age. The campaign's target is to provide broadband connectivity to a quarter of a million rural villages by 2019 and making wi-fi connections available in schools. Nowadays, many brands are venturing onto e-learning platform to create new benchmarks in the education and training industry. As per the market facts, Asia tops the charts with 44% internet penetration majorly driving the e-learning trend in India. In this segment, the major brands that have taken initiative towards bringing education closer to the digital world are The Gate Academy, Aakash Institute, Pearson, Edukart.com and Educomp Solutions. E-learning has an immense scope in future as many education institutes are driving profits via online platform. For instance, Bengaluru based institute the Gate Academy, offers technology driven coaching that blends faculty and online learning. Their innovative model of teaching includes blending the standard faculty based classroom learning with pre-recorded video lectures, online tests and GATE focused books for concept clarity. Enlightening about the growth they have tapped via franchising, Ritesh Raushan, Co-Founder, The Gate Academy says: “Our growth model is heavily dependent on franchising. Franchisees bring a lot of value to the table. It includes investments, local know-how, contacts and manpower. We bring our strengths such as online brand presence, strong e-learning tools, quality teachers, printed study materials and market knowhow.” Currently operating in 52 centres across India, The Gate Academy is looking to 15 more centres. The target cities for expansion are engineering education hubs.
Indians are turning out to be more tech savvy than before credit goes to the availability of more and more wifi connections and mobile networks which are allowing education brands to boom via online channel for rolling in more cash.