LONDON–(BUSINESS WIRE)–Technavio analysts forecast the online education market in India to grow at a CAGR of over 20% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
The emergence of cloud computing is one of the major trends being witnessed in the online education market in India 2018-2022. The cloud computing technology has enabled players to save a significant amount of content, data, and information on a single platform, thereby making it easier for users and providers to process, procure, access, and manage information from anywhere at any time. It offers key benefits such as reduced capital expenses and increased speed for implementing SaaS-based solutions.
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According to Technavio analysts, one of the key factors contributing to the growth of the online education market in India is the increased penetration of internet and smartphones in India:
Online education market in India: Increased penetration of internet and smartphones in India
With digitization, the adoption of the internet and smartphones in India is increasing. High internet penetration has led to the creation of more 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 sources, leading to the growth of online education market in India.
According to a senior analyst at Technavio, “The country offers significant opportunities for players offering products or services based on digital platforms. For instance, Bangalore-based BYJU’S, and EdTech company, launched its mobile app in 2015. This app has been downloaded by more than 6 million users across India. Hence, with the combined incremental penetration of the internet and smartphones in the Indian economy, the user base for e-learning is expected to increase.”
Online education market in India: Segmentation analysis
The online education market in India research report provides market segmentation by product (content and services) and by end-user (higher education segment and K-12 segment). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the content segment held the largest market share in 2017, contributing to over 64% of the market. This product segment will dominate the global market throughout the forecast period.
The higher education segment held the largest share of the market in 2017, accounting for more than 77% share. The higher education segment caters to the undergraduate and postgraduate students while the K-12 segment caters to students in grades kindergarten to 12th. Both of these segments include students that opt for the online education for test preparation, skill, development, and language learning.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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