The Online Education Market in India 2018-2023 - Blended Learning & Flipped Learning is Driving Growth
Lower infrastructure cost coupled with larger student base leverages economies of scale and lower cost. Online skill enhancement courses are far cheaper than offline alternatives.
Increase in disposable income is egging the young population to enhance their skills for higher growth. The young population with high aspirations but lower income is a good target market for online education. Further, the acceptability of online channels is also higher in the younger demographic.
Improved internet connectivity and digital payment options, coupled with the introduction of new learning methodologies such as blended learning and flipped learning is driving the growth of the online education market in India.
Familiarity with offline education system poses a major barrier for online education. Online education is still considered a second class citizen in the education system, and thus, its recognition is limited to institutions of service. Limited availability of internet in remote locations act as a barrier to growth
The online education market in India is segmented by category into primary and secondary supplemental education, test preparation, reskilling and online certifications, higher education, and language and casual learning.
Test preparation market is expected to be the largest growing segment due to the increase in the number of students opting for competitive exams such as engineering medical exams, and also due to rise in the number of exams for working professionals such as bank probationary officer (PO), union public service commission (UPSC), common admission test (CAT) and graduate management admission test (GMAT) among others.
[Source: Business Wire]