The online education market size in India is poised to grow by USD 14.33 billion during 2020-2024, progressing at a CAGR of over 21% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Online Education Market in India 2020-2024 (Graphic: Business Wire)
With digitization, the adoption of the Internet and smartphones in India is increasing. High Internet penetration has led to the creation of a significant tentative customer base for companies operating in the e-learning market to acquire and monetize this opportunity. As the traditional education system in India is insufficient in providing services to all the segments of the education and skill development market, prospective 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 providing products or services based on digital platforms. Moreover, the government and the private sectors are moving rapidly to spread high-speed connectivity across the country and provide hardware and services to put Indian consumers and businesses online. This increment in internet penetration and increased use of smartphones is anticipated to aid market growth.
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The major online education market growth in India came from the content segment. The content-based online education is anticipated to witness a gradual growth and will dominate the online education market in India during the forecast period. A major driver behind this dominance in the market is the ease of accessibility of content. The acceptance of this segment is not dependent on infrastructure or any other vendor-based services. Content-based products provide customized content to customers with the help of tools such as big data.
The online education market in India is concentrated. Dexler Education Pvt. Ltd., Educomp Solutions Ltd., Indiavidual Learning Pvt. Ltd., Indira Gandhi National Open University, Info Edge (India) Ltd., MPS Interactive Systems Ltd., Next Education India Pvt. Ltd., NIIT Ltd., SMU-DE, and Think & Learn Pvt. Ltd. are some of the major market participants. To help clients improve their market position, this online education market in India forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the online education market in India 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we re-evaluate the impact on businesses and update our report forecasts.
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