Upskilling CAGR above 29% in the years to come.
India has become the second-largest e-learning market in the World after the US, and one of the fastest-growing online learning markets that has grown at a rate of around 45% CAGR.
Growth potential of online learning business is high, says a report “India Online learning (Reskilled & Cerification, Higher Education, Langauge & Casual Learning) Market Outlook, 2025” ResearchAndMarkets.com on 22 May 2020.
The report noted that a typical Indian Classroom is characterized by long hours of lectures by the teacher with little focus of the students.
However, these days the trend shows that more and more students are opting to work online courses through digital media, which ultimately leads to help develop distance learning.
Distance learning also helps to reach any number of students placed in any area or part of the country. Distance learning is also a useful tool for obtaining degrees for a large number of students who are staying in far off and remote areas.
Adding to this, the government has recently deviced an initiative PM-eVIDYa to promote online education which will cater to schools as well as higher education in the time of current pendemic COVID-19.
From the entire three segments, the dominating position is held by an online reskilled and certification course. A growing trend is observed as organizations are allowed to invest in a process known as upskilling to help retain current employees.
Upskilling is defined as the process of teaching current employees new skills. Along with this as an individual, people are more tending towards increasing their technical as well as non-technical skills. Such advantages will help this segment to grow at a CAGR of above 29% in the years to come.
Riding on the demand the higher education sector in the country has witnessed a phenomenal growth in student enrolment. It is now a truth acknowledged in many quarters that our young graduates will have to live and work in a steadily more automated and disruptive world.
Apart from the above two segments, online language learning has been an on-going trend in the Indian market, as with the growing technologies there is also growing awareness that one should be developing skills to communicate with other personalities professionally.
The online language and casual learning are still at the nascent stage in the overall e-learning market but have observed gradual adaption among the users.
Online learning companies are: Simplilearn Solutions Private Limited, Brain4CE Education Solutions Private Limited, Imarticus Learning Private Limited, Intellipaat Software Solutions Private Limited, Jigsaw Academy Education Private Limited, Intap Labs Private Limited, Kings Learning Private Limited, Ankalan Web Solutions Private Limited, Coursera India Private Limited, Aeon learning private Ltd, EDX, Udemy, Manipal Global, Medvarsity Online and Edmobile Labs Pvt Ltd. fiinews.com
