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The online education market in India is estimated to grow at a CAGR of 19.9% between 2022 and 2027. The size of the market is forecast to increase by USD 3,461.93 million. The growth of the market depends on several factors, including skill development and employment, government initiatives toward digitization in education, and rapid penetration of Internet-enabled devices.
This report extensively covers market segmentation by end-user (higher education and K-12) and product (content and services). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the India online education market as a part of the global education services market (also referred to as the global education market). The parent global education services market covers products, services, and solutions that are offered to educational institutions, corporate institutions, students, parents, individuals, and teachers. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Skill development and employment are notably driving the market growth, although factors such as language barriers due to diversity among learners may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Online Education Market Driver In India
Skill development and employment are notably driving market growth. Working professionals in India are focusing on skill development to achieve career growth and add value to their knowledge. For example, software professionals need to learn the latest technologies such as big data analytics and cloud computing. This trend is seen in all age groups of working people. This is because, unlike traditional courses, digitized courses offer flexibility and convenience as learners can access content anytime, anywhere.
In addition, companies are looking for skilled workers, not just workers. So in this scenario, the job seekers are exploring other resources such as MOOCs. This creates an opportunity for major players in the Indian online education market to offer products and services that expand their customer base. Hence, increasing acceptance of skill development through digitized platforms, especially online certifications in Tier 1 cities is expected to boost the Indian online education market during the forecast period.
Significant Online Education Market Trend In India
The emergence of cloud computing is the key trend in the market. Cloud computing technology has enabled players to store large amounts of content, data, and information on one platform, allowing users and providers to process, procure, access, and manage information from anywhere in real time. It offers key benefits such as reduced capital expenses and increased speed for implementing SaaS-based solutions.
Cloud service providers provide SaaS-based solutions such as ERP and LMS to educational institutions for technical support. Vendors are working with the central government, state governments, and education boards to make the cloud platform popular. For instance, the government has taken initiatives such as the National Digital Library and the National Academic Repository to promote e-learning in institutes.
Hence, the adoption of cloud-based learning platforms in online education will help in resolving the issue of inadequate infrastructure and security, fuel the adoption of e-learning, and the growth of the India online education market further during the forecast period.
Major Online Education Market Challenge In India
Language barriers due to diversity among learners is the major challenge in the market. Most of the products available in the market use Hindi or English as the default language for teaching. However, India's population is so diverse that many learners are not familiar with either language. This is a big problem, especially for markets in rural areas. The language barrier will affect the K-12 segment more compared with the higher education segment, as there is a dominance of regional languages as a choice for learning in the K-12 segment in rural areas.
Hence, to overcome this barrier in the market, a combined effort from both platform providers and content providers is required. This will generate customized output in local languages and improve online education acceptance rates. Therefore, language barriers are likely to hamper the growth of the Indian online education market during the forecast period.
Key Online Education Market In India Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Online Education Market Customer Landscape in India
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Vedantu Innovations Pvt. Ltd - The company offers solutions for online education in India that includes Master's, Doctorate, and various boot camps to increase the efficiency of every single student. The company provides various online tutoring services, such as Math + Science One Year Course, JEE (Main & Advanced), Regular Tuitions, and NEET coaching. The company also offers one-on-one classes with a personal teacher for the students studying in the CBSE, ICSE, IGCSE, IB, and State Board.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the higher education segment will be significant during the forecast period. Enrollment in higher education institutes is increasing with the increasing awareness about education and its scope for career growth. Higher education through the online medium is gaining popularity, as it provides the advantage of flexibility in terms of time and location. Moreover, such courses are financially affordable compared with the courses offered by traditional institutes in India.
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The higher education segment was valued at USD 678.24 million in 2017 and continued to grow until 2021. The growth of this segment is driven by courses for skill development and learning opted for by working professionals. Hence, many companies, including NIIT and Embibe, offer online courses for professionals. The increased adoption of technologies such as the Internet and smartphones, demand for higher education from individual and working professionals, and digital economy initiatives by the government are driving the market. This trend is expected to continue during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Online Education Market Scope In India |
|
Report Coverage |
Details |
Page number |
122 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.9% |
Market growth 2023-2027 |
USD 3,461.93 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
18.7 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aeon Learning Pvt. Ltd., AnalytixLabs, Coursera Inc., Educomp Solutions Ltd., Excelsoft Technologies Pvt Ltd., Indira Gandhi National Open University, Intellipaat Software Solutions Pvt. Ltd., Jigsaw Academy, Khan Academy Inc., MPS Ltd., NextEducation India Pvt. Ltd., NIIT Ltd., Reliance Industries Ltd., Simplilearn Solutions Pvt. Ltd., SMU DE, Think and Learn Pvt. Ltd., Udemy Inc, upGrad Education Pvt. Ltd., Vedantu Innovations Pvt. Ltd., Zeus Systems Pvt. Ltd., and Sorting Hat Technologies Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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