A market that stand tall at $100 billion, is projected to more than double by the very next year.
With a paid user base expected to reach the 10 million mark by 2021, online education is projected to see 8x growth in the next five years, says a recent report by Google, KPMG.
As the focus of students and professionals alike shifts away from the traditional ways of learning online education gets a big boost. With each passing day, the Internet penetrates deeper and deeper into Indian society. It’s reach is breaking the traditional moulds of the education system in the country. A population largely bereft of the means to achieve the static number of seats in schools and colleges, is slowly but surely moving towards e-learning. Massive open online course (MOOCs) are inciting an education revolution among the students and working professionals.
EdTech Startups across all subsections of online learning have been both, the means and the ways of achieving those means to bring about changes that are shaking the tree of education. The fruits are ripening up and have started to fall in the laps of students and learners. Reach, personalization, no-barrier, movability, agility have contributed immensly to the all encompassing nature of the online learning. According to IBEF, ed-tech startups are making their presence felt in the $100 Bn Indian education sector.
The Google-KPMG report states that the paid user base will grow 6X from 1.6 Mn users in 2016 to 9.6 Mn users in 2021. The report also reveals that 44% of online education searches are now coming from beyond the top six metros and there has been a 4X growth in education content consumption on YouTube in the last one year.
Internet usage in the country has exceeded half a billion people for the first time, at 566 million, fueled by the internet growth and usage in rural India. It is now estimated that there are 290 million rural internet users in 2019. Low cost, personalized, enabling environment build by the Edech startups is attracting more and more number of students and professionals to pursue online learning. Be it, the K12, skill-based learning or primary education or just casual learning, internet coupled exciting tech is shaking the tree of education with a dedication unseen before. Resulting in fruits that are falling thick and fast.