Nowadays our living environment has been changing and we have been progressing towards the high-class environment. There is nothing which hasn’t changed the same as Education which is the very important thing for us.
A few years back we were gone college or institutes for study but now we have a very good facility of learning where we don’t need to go at college or institute we can learn online, so according to me, online education has a very bright future not in India but in foreign countries too. In coming up years Online education in India will spread everywhere and students will prefer online education rather than regular education.
Let’s go through few facts before eyeing at the ‘future.’
- Online education market of India in 2016 was $ 247 Mn, which is expected to grow to $ 1.96 Bn by 2021 (with a CAGR of 52%, which is quite high).
- Number of users are expected to grow to 9.6 Mn by 2021 from 1.6 Mn in 2016.
- There is 175% increase in cost of traditional education from 2008 to 2014, hence online education is a low cost alternative to traditional education.
- Internet penetration rate in India is 31% today with almost 409 Mn internet users, and nearly 735 Million new users are predicted by 2021.
- Open learning and distant learning courses are supposed to grow to 10 Mn by 2021.
- Nearly 46% population is between 15–40 age group. And young population with high aspirations but lower income is good target market for online education. And, acceptability of online channel is high in younger demographic.
All in all, India has exciting opportunities in Ed-tech sector with rising young population, increasing internet penetration and acceptance of online learning as a cost effective channel.