Online Education Market in India | Increased Penetration of Internet and Smartphones to Boost the Market Growth | Technavio
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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Increased Adoption of Skill Development through Online Certifications on Digitized Platforms will be a Key Market Trend
Working professionals in India are focusing on skill development to achieve career growth and add value to their knowledge. For example, software professionals are required to learn the latest technologies, such as big data analytics and cloud computing, to contribute to business growth. This trend has been noticed in all age groups of working professionals. Moreover, digitized courses provide flexibility and convenience, unlike traditional classes, as learners can access the content from any location at any time. Therefore, the increased adoption of skill development through online certifications on digitized platforms, especially in tier 1 cities, is expected to fuel the online education market in India during the forecast period.
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Online Education Market in India 2020-2024: Key Highlights
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