Increased Penetration of Internet and Smartphones to Boost Market Growth | Technavio
LONDON–(BUSINESS WIRE)–The online education market size in India is expected to grow by USD 14.33 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
High Internet penetration has led to the creation of an extensive customer base for companies operating in the e-learning market. As the traditional education system in India is insufficient in providing services to all the segments of the education and skill development market, learners are looking for alternative education sources, leading to the growth of the online education market in India. The country offers significant opportunities for players offering products or services based on digital platforms. For example, Bangalore-based BYJU’S, an Ed-tech company, launched its mobile app in 2015. This app has been downloaded by more than 6 million users across India. Hence, with the combined incremental penetration of the Internet and smartphones in the Indian economy, the user base for e-learning is expected to increase, thereby driving market growth.
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As per Technavio, the government initiatives toward digitization in education will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Online Education Market In India: Government Initiatives toward Digitization in Education
Digital initiatives taken by the government of India is one of the factors fueling the growth of online education. Initiatives such as ePathshala, which hosts educational web resources for teachers, students, parents, researchers, and educators, have helped the rural population to get familiarized with online education. For higher education segments, the Indian government has come up with virtual labs and virtual classes to provide remote access to labs in various disciplines of science and engineering with participating institutes such as ITs, IIITs, and NITs. The virtual labs cater to students at the undergraduate and postgraduate levels as well as to research scholars. Such government initiatives have created a surge in demand for online education from users and institutions in rural and urban areas.
“Factors such as the emergence of cloud computing, and the growing popularity of big data and learning analytics will have a significant impact on the growth of the online education market value in India during the forecast period,” says a senior analyst at Technavio.