India possess a multilayered education system with over 260 million students enrolled in almost in 1.5 million schools along with 39000 colleges that caters to 27.5 million graduates all the years round and 4 million post graduates students are there. In India formal education means graduation, post graduation courses, primary and secondary schools and advanced courses. Approximately on and around 409 million internet users are likely to grow 735 million as per the predictions by 2021.
According to some research study the online learning or online education market is USD 247 million on the year of 2016. Another important statistics in this regard is that it comprises of 1.57 million paid users of online education in the same year.
What had happened previously after the introduction of the online education in the country?
It is being expected by the experts that the market for online education will grow from USD 1.96 billion and 9.6 million users by 2021 from the previous growth rate of 247 million and 1.6 million users since 2016.
Overview of the industry:-
- Online certifications and re skilling has become the largest category today which actually worth USD 93 million.
- Supplementary education will be the largest by 2021 which worth around USD 773 million and will grow at a CAGR rate of 60%.
- Exam preparation will become faster by 2021 with an average CAGR growth rate of 64%.
Online students for India:-
- Perceived convenience with flexibility with commencement dates and the variety of study material are the key factors to adopt the motivational means to use the platform of online learning.
- Internet search and cite peers will become the two sources of brand awareness.
- Mentioning the quality of course content which will become the top priority for selecting a brand.
- Preference of laptops over the mobile phones for the free access of the course content.
Condition of Online education market in India
Currently, the online education market in India stands around USD 247 million. India will witness this growth within the coming years the reason being the paid user base for the companies will rise phenomenally. It is being expected that the rise of the growth rate will be 8 times more than the current situation within the upcoming 5 years. This actually means from USD 247 million it will scale up to 1.96 billion by 2021.
It is being also expected that India’s user base of online learners will increase from 1.57 million to 9.5 million users by 2021. There are certain economic factors that will add up to the growth of online education in India like demand, supply, and other macroeconomic theories.
Vital points of online education system to be considered with maximum priority
- Re-skilling of the online certification courses id the lion’s share of the Indian education system. This is being driven by IT professionals with much of attention towards online training of the students for their development of the skills and further enhancement in their career path.
- Secondary and primary supplemental education is basically driven by the demand for the quality education. The online channel provides conducive avenues online who requires focused individual learning.
- The test preparation which is being done online it witnesses reasonable adoption from tier 2 and tier 3 cities.
- Casual learning and language possess a significantly higher user base but with a low paying subscriber base the revenue for B2C the revenue is very limited.
Future of online education in India by 2021
Online education is expected to grow USD 1.96 billion for the next five year which is being driven by increased consumer supported by macroeconomic changes it involves the improvement in the public offerings and the changes in the models of the business. The concentrations of the paid user are going to increase by 2021. The absolute figure is going to be 1.6 million to 9.6 million by 2021.
What are the expected market characteristics of online education by 2021?
- Enhanced customer experience:- Due to enhanced and advanced customer support system it will attract more students towards it.
- Self-motivated and value driven users:- Value driven and self motivated users will apply their own mind and will start researching on courses online before they will make any decision of purchase.
- Competitive differentiation by players via alternative technique:- Online platform for education will be provided by different company by applying different processes.
- Value added services:- Parents can get the additional value added services for their children. The reason being they will get the scope to interact with the industry professionals, and soft skill enhancement can further enhance their skills. Apart from that career counseling program can also be done.
- Government will also take the initiatives to enhance the program for enabling better online solutions for the students in the upcoming years.
Actually all around the globe the popularity of the online education is gaining popularity. In India also slowly it is gaining momentum so that the students can understand the concepts in a better and in an effective manner. Apart from this in a developing country like India students also need to be a pro active learner.
The ability of the student to think out of the box will only get developed when they will be able to understand the concepts in a better and in an effective manner. This is why the need for the Inline education is growing at a very faster pace over the past few decades in India.