Online Education in India 2021: A study by KPMG
This article aims at highlighting a few key points from the study done by KPMG on ‘Online Education in India by 2021.’
As per the survey, there are five major categories of education in India, namely;
- Primary and Secondary Supplemental Education
- Test Preparation
- Re-skilling and Online Education
- Higher Education
- Language and Casual Learning
However, it is anticipated that by 2021, online primary and secondary supplemental education will be super prominent with 39% of market share. Besides this, online test preparation is estimated to grow at the fastest rate reaching a striking CAGR of 64% during the upcoming five years.
This change is majorly expected because consumers would be looking forward to a deeper understanding of concepts rather than just preparing for tests. Also, the reason for the growth rate could be the rise of internet preparation in tier 2 cities and above.
Moving ahead, the study also focuses on the future of online education in India in terms of:
Gamification Concepts
This aspect is predicted to:
- Augment user engagement with simulation of concepts
- Incentive-based learning
- Further Enhance knowledge acquisition.
Target for a Hybrid Channel Approach
Businesses will be targeting for:
- A smart blend of offline and online content that is present at all places at all times for students.
Continuous Learning
Not to mention, online education will encourage:
- Continual learning process with omnipresent content and data at the tip of your fingers
- Needless to say; as other beneficial sides with education massively going the online way we will also witness:
- New job creations
- Social skill development
- At last, it is sure to encourage Entrepreneurship
Business evolution:
Businesses are estimated to:
- Evolve in a way that they would pay utmost importance to customer needs
- Ensure that Industries and online players collectively strive to change the overall value of online education
- Further, ensure that students get hands-on experience with online internships and live projects as value-added services.
Technological intervention:
- Content customization becomes easy with technology like Big Data and Artificial Intelligence
- Content consumption will grow with various wearable devices and apps
- Centralized data storage for prompt access anytime and anywhere
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Market Share Scenario
- The Education Market will grow at a CAGR of 52% : will touch USD 1.96 billion by 2021.
- Re-skilling and Certification industry being the largest: Will surge to USD 436 million
- Primary and Secondary Education: Will see a huge increase in market share of USD 773 million by 2021.
- Test preparation category: As discussed in the initial portions of the article, this section will grow at 64% CAGR to reach USD 515 million.
Consumption pattern highlight
- Since students will look for more and more ease, comfort and convenience to pursue courses from their homes, the demand for online courses are likely to ascend.
- The urge to save time, energy and multitask will also soar the demand for online education
- Further we can see that, Laptops and Smartphones will be primary devices or mode of education
Influencers in decision-making
The study has observed that there are few factors that determine the selection of content by students:
- Content Pricing
- Employment opportunities
- Connectivity
- Brand Awareness, Internet Searches and Advertisements
- Quality of content offered by organizations
- Content format
- In addition to that, price affordability is a major concern
- At last, students want time and duration flexibilities
How does the future look for online Education players?
Following are the factors that will decide how businesses can deliver the best:
- Degree of customization in content delivery
- Assessments
- Result analyses
- Comprehensive content
- Further, we see affordably priced courses
Other Factors:
- Gamification in courses for further engagement
- Career counseling
- Soft-skills training sessions
- Multi-device offering
- Further, Offline access to content
Lastly, we leave you with a noteworthy point made in this study that initially online platforms merely acted as connectors between content providers and consumers. However, the notion has been changing over the years, and now the platforms are more like content providers and curators. With this you can only imagine the kind of optimistic future online education has in India.
In addition to the above context, it would be worthwhile mentioning our iDream Learning App which offers relevant digital learning content in English and Hindi languages. Further, With curriculum-aligned and multimedia content, this app is a great example of an online learning platform with topic-wise practice tests and assessments. Following that, Students can quite comfortably learn at home anytime as per their convenience. The app is absolutely free; can be easily downloaded from Google Play store and can be run on any Android smartphone.
Further, Quick screenshots of of the app as in how it looks and can give out precise progress reports:
P.S. : The above article is a summary of a KPMG study report about ‘Online Education in India by 2021’. Here is the link to the original report:
https://assets.kpmg/content/dam/kpmg/in/pdf/2017/05/Online-Education-in-India-2021.pdf
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