Over the last 20 years, the Internet has grown from being nearly non-existent to being the largest, most accessible database of information ever created. It has changed the way people communicate shop, socialize, do business and think about knowledge and learning. Much more than just a new twist on distance learning, online schooling is changing the face of traditional classrooms and making education more accessible than ever before.
Technology in education is evolving at a lightning speed, aiding in making the learning more interactive and engaging also bridging the communication gap between teachers and students which usually occurs during the time of conventional teaching. In the past few years, the various types of technologies have emerged out in the education industry and enthusiastically embraced by multiple institutes in order to enhance student’s skills and improve institute productivity.
Today, not only students but also working professionals are running towards the online education platforms as it is easy to access the quality education and learning can be done at their own pace. A study completed recently in India on online education by KPMG and Google reveals heart-warming statistics; total revenue will grow from $0.25Bn in 2016 to $1.96Bn in 2021 @CAGR of 52 percent, Internet users to grow from 409 Million to 735 Million and that Smartphone penetration would increase at breakneck speed. The revenue growth is expected to be across all categories including Primary and Secondary education, Test preparation, reskilling and online certification, Higher education Language and Casual learning.
India has one of the largest higher education systems in the world. It mainly consists of three parts viz university, college, and course. And, all parts of the higher education system are governed by the University Grants Commission and its professional councils. According to the KPMG report, online higher education in India is at an early stage of development and has witnessed the emergence of different private universities offering UG and PG e-learning courses to students. However, as compared to graduation and diploma courses, the demand for online higher education is dominated by post-graduation courses such as MBA and MCA.
As the KPMG report states, a number of students adopting online platforms for test preparation is expected to increase significantly in the coming years. The different online platforms could either act as a substitute or complement to the existing offline test prep market to provide coaching to students for various exams such as JEE Main, NEET, CAT, Bank PO, and CLAT. It is projected that the category of test prep will grow at a CAGR of 64 percent in 2021.
Many new players have emerged in the online test prep market which is launching exam-specific mobile applications for students. Apart from that, the lack of good faculty in tier 2 and 3 cities is also driving candidates from these areas to adopt online platforms for exam preparation. Online education is a flexible instructional delivery system that can encompass any kind of learning that takes place via the Internet. The quantity of distance learning and online degrees in most disciplines is large and increasing rapidly. Most of the time, online degree programs and courses are offered via the host school's online learning platform, although some are delivered using alternative technologies.
