Online Education Market in India Worth INR 360 Billion by 2024, Exhibiting a CAGR of ~43% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Online Education Market in India 2019" report has been added to ResearchAndMarkets.com's offering.

With the increasing adoption of the Internet and rise in awareness about e-learning, the online education industry is expected to witness promising growth during the forecast period.

The online education market in India was valued at INR 39 billion in 2018 and is expected to reach INR 360.3 billion by 2024, expanding at a CAGR of ~43.85% during the 2019-2024 period. Ease of learning, flexibility, and a wide range of study materials have influenced the overall growth of the industry.

However, the lack of formal recognition and accreditation, and abundance of freely available content presents a critical threat to the growth of the sector. The industry is moving towards the adoption of innovative technologies like Artificial intelligence (AI) and machine learning (ML), Big Data Analytics, Blockchain and others to improve the learning experience.

Segment Insights

The online education market is segmented into primary and secondary supplemental education, test preparation, reskilling and certification, higher education language, and casual learning. The online primary and secondary supplemental education segment was valued at INR 11.99 Bn in 2018 and is expected to reach INR 123.65 Bn by 2024, expanding at a CAGR of ~46.48% during the 2019-2024 period. The change in consumer behavior towards detailed learning and surge in demand from tier II and tier III cities are driving the growth of this segment.

The online test preparation market is expected to reach INR 94.75 Bn by 2024, expanding at a CAGR of ~50.84% during the 2019-2024 period. This segment is expected to be the fastest-growing segment in the online education market, owing to growth in career-focused population, enhanced Internet infrastructure and increased penetration of digital payment methods.

The online reskilling and certification market is expected to reach INR 93.81 Bn by 2024, expanding at a CAGR of ~36.95% during the 2019-2024 period. The growing business landscape has widened the skill gap among employees, which is why the demand for reskilling courses is picking up.

The online higher education market was valued at INR 5.01 Bn in 2018 and is expected to reach INR 40.63 Bn by 2024, expanding at a CAGR of ~40.74% during the 2019-2024 period. The conventional education system is insufficient for the growing population, and therefore students are switching to online higher education courses.

Key Market Trends

Gamification is one of the most prevalent trends among online education providers to encourage learning through immersive experiences. Simulation of concepts, level advancement badges and incentive-based learning are driving user engagement on online education platforms. Online learning players, nowadays, are continuously competing to offer differentiated products to the target audience, mostly by offering value-added services with regular courses. Value-added services like internships, live projects, group discussions, and career counselling sessions, offered along with regular courses enhance users' experiences.

Competition Analysis

The Indian online education market is highly fragmented with around 3,500 edtech start-ups operating in the country. Many foreign players are entering the Indian online education industry. BYJU's, Udemy, Coursera and Duolingo are a few prominent players in the industry, catering to the requirements of different target audiences.

Key Topics Covered

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction

3.1. Market definition and structure

3.2. The online education ecosystem

3.3. Stages of development

Chapter 4: Market overview

4.1. Online education market in India - overview

4.1.1. Historical market size

4.1.2. Forecast market size

Chapter 5: Market segmentation

5.1. Online education market segmentation

5.1.1. India online education market share based on category

5.1.2. Online primary and secondary supplemental education

5.1.3. Online test preparation

5.1.4. Online reskilling and certification

5.1.5. Online higher education

5.1.6. Online language and casual learning

5.2. Segment-wise stages of development

Chapter 6: Technology landscape

6.1. Market trends

6.2. Technology landscape

Chapter 7: Government initiatives

Chapter 8: Market influencers

8.1. Market drivers

8.2. Market challengers

Chapter 9: Competitive landscape

9.1. NIIT Limited

9.2. Aeon Learning Private Limited

9.3. Coursera Inc.

9.4. Duolingo Inc.

9.5. Individual Learning Private Limited

9.6. Simplilearn Solutions Private Limited

9.7. Sorting Hat Technologies Private Limited

9.8. Think & Learn Private Limited

9.9. Udemy India L.L.P.

9.10. upGrad Education Private Limited

Chapter 10: Website benchmarking

Chapter 11: Recent investments

Chapter 12: Recent development

For more information about this report visit https://www.researchandmarkets.com/r/dkbxph