According to Technavio, the online education market size in India is estimated to grow by USD 3,461.93 million from 2022 to 2027. The market is estimated to grow at a CAGR of 19.9% during the forecast period. The growing focus on skill development and employment is notably driving the demand for the market. Working professionals across various domains focus on skill development for value addition and career growth. This is a trend that is followed by all age groups of working professionals. Working professionals prefer picking up courses on digital platforms over traditional classes due to factors such as convenience and flexibility. This trend, especially in tier 1 cities is expected to fuel the growth of the online education market in India during the forecast period. For more insights on the history (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
Leading trends influencing the market
- The emergence of cloud computing is a major trend driving the demand for the market in focus. This technology has helped players save significant content, data, and information on a single platform. This has also helped users to process, procure and access information at their convenience.
- Cloud computing has also helped vendors reduce capital expenses and improve the speed of implementing SaaS-based solutions like ERP and LMS.
- Vendors in the market are collaborating with central and state governments to popularize cloud platforms. For instance, the government has taken initiatives like the National Digital Library and the National Academic Repository to promote e-learning in institutes.
- Hence, adopting cloud-based learning platforms in online education helps resolve several issues, thereby fueling the growth of the market in the country.
Major challenges hindering the market growth
- The lack of infrastructure like high-speed internet, and optical fiber communication in many regions of the country may impede the growth of the market. This issue can make an otherwise economically efficient model essentially ineffective.
- Lesser developed states and remote places in the country suffer from either lack of connectivity or are economically backward to afford the technology. Moreover, for services that offer classroom training along with e-learning, basic infrastructure like advanced hardware, software, and data centers are unavailable.
- Hence, despite the high adoption of the internet and smartphones, insufficient infrastructure challenges the growth of the market.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!
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Online Education Market in India – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on End-user (Higher education and K-12), and Product (Content and Services).
- The higher education segment is prominent in the growth of the online education market in India during the forecast period.
- Online higher education enables time and location flexibility as well as affordability to the end-users. This has led to many ed-tech companies investing and witnessing an increase in the adoption of courses for higher education preparation.
- For instance, Unacademy launched a dedicated platform for JEE (Joint Entrance Examination) preparation, which is one of the most competitive engineering entrance exams in India.
- The Government of India (GoI) is further promoting online education through its Digital India initiative under the National Mission on Education through Information and Communication Technology (NMEICT).
Insights on the Market Contribution of Various Segments, Historic (2017 to 2021), and Forecast Market Size (2023 to 2027) – Download a Sample Report
What are the key data covered in this Online Education Market in India report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the online education market in India between 2023 and 2027
- Precise estimation of the size of the online education market in India size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the online education market across India
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of the online education market in Indian vendors
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