India Leads the Global E-Learning Market with 6X Growth Since 2015 Online academia is tackling the trials of unemployment & skill-gap
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The unexpected explosion of new media and more so, acceptance by major strata of India's population has become a driving force of the nation's economy. Educated youth is the backbone for the developing countries but India, unfortunately, has been juggling the trouble of high dropout rate for school children. On average, only 70 out of 100 initially enrolled students are touted to finish school in India.
What about the rest? They struggle to find respectable jobs due to the high skill-gap, worsening their financial conditions. Tackling the menace is online academia. The growing awareness around e-learning has promoted a higher number of tertiary students to take up online education to explore their interests, learn new skills, and land a good job.
Market Expansion
The academic e-learning market will reportedly register a CAGR of over 10 per cent by 2023. The increasing adoption of paid open source LMS is expected to foster the academic e-learning market growth in the forthcoming years. The surging adoption of e-learning by universities and academic institutions in both developed and emerging economies will further trigger market growth.
The market appears to be moderately fragmented with the presence of several market players. With the advent of micro-learning, academic e-learning vendors are increasingly adopting micro-learning course contents. Online learning is not only affordable and accessible but also provides high-quality learning material.
Purpose for E-learning
It brings quality education from subject matter experts and academicians to a learner's home and gives students the flexibility to learn anytime, anywhere. At the same time, the online training cost fraction of what offline coaching centres charge. Education administrators are increasingly utilizing these sources due to the operational benefits and cost-effectiveness.
According to the data taken from Internshala Trainings, there has been a 6x growth in the rise of students opting for e-learning. While 40 per cent of the total students were found interested in online training to learn a new skill, 34 per cent are making their resume for future internship/job stronger. Due to irregular structure and work culture, only 47 per cent of the students are able to complete their online training.
Nonetheless, the future for e-learning in India seems bright. Refer to the following infographic for further understanding of where the market is currently positioned in India:
