Online education market to be $1.96 bn by 2021: Google, KPMG

High growth in education search queries is now coming in from tier 2 and 3 cities such as Patna, Guwahati, Aligarh and Kota

GN Bureau | May 31, 2017


#online learning   #Google   #KPMG   #online education industry  


Capturing the growing influence of the internet on the education industry in India, Google and KPMG have released a joint report titled, ‘Online Education in India: 2021. The report reveals that the online education industry will grow at a healthy rate of eight times, to become a USD1.96 billion industry by 2021. 
 
The report is based on a comprehensive market research conducted by KPMG, along with a primary research and combined with insights from Google search. The report finds that the paid user base will grow six from 1.6 million users in 2016 to 9.6 million users in 2021, said a press release.
 
The report reveals that over the last two years, there has been a two times growth in online searches for education and a three times growth in searches from a mobile device. Also, 44 percent of education searches are now coming from beyond the top 6 metros and there has been a four times growth in education content consumption on YouTube in the last one year.
 
Highlighting the segment-wise growth in the online education space, the report highlights that reskilling and online certification is currently the largest. In 2016, it was valued at USD 93 million, and is expected to grow at a CAGR of 38 percent to reach 463 million by 2021. As per the report, the primary and secondary education category has the largest addressable audience with a student base of around 260 million when compared to the other categories.
 
Owing to this, the primary and secondary supplementary education segment was the second largest category in 2016, and will grow at a CAGR of 60 percent to reach USD773 million, making it the largest category in 2021. The test preparation which is a small segment as of today is likely to grow at an impressive CAGR of 64 percent to become a USD 515 million category in 2021.
 
Speaking about the key findings of the report, Nitin Bawankule, industry director, Google India said, “The online education segment is set to become a multi-billion dollar opportunity in India. There are many factors driving this growth including the perceived convenience, increased reach and personalisation offered by online channels. It is also interesting to note, that high growth in education search queries is now coming in from tier 2 and 3 cities such as Patna, Guwahati, Aligarh and Kota – which points to the opportunities that growing penetration of smartphones and improving quality of internet have opened up.”
 
Talking about the future of the online education industry in India, Sreedhar Prasad, partner, KPMG India said, “There are several evolving trends in the Indian online education segment that are contributing to the growth opportunities ahead. These include emergence of hybrid learning channels, continuous need for working professionals to learn new skills as well as emergence of technologies such as big data and artificial intelligence that is enabling online education vendors to design customised content. At the same time, it will be critical for players to deliver differentiated offerings for consumers to see continued value in online education channels.
 
The report is based on a primary qualitative and quantitative research that covered over 3,600 respondents across 27 geographies including metro and non-metros to understand the growth of consumer paid online education market in India by 2021. The respondents are in the age group of 16-45 years, both male and females, who are online/offline course takers/intenders and parents of primary/secondary courses. Insights from the primary research have then been combined with KPMG India’s proprietary sizing model as well as Google search trends and KPMG India’s industry intelligence.
 

Comments

 

Other News

What makes Sundargarh the cradle of hockey in India

Neha Lakra, 20, doesn’t forget to practise hockey, at least for four hours, every day. Whether at home or at the Panposh sports hostel in Rourkela where she is training under the guidance of coaches, her routine doesn’t change. “I can’t sleep unless I have worked on the ground,&rdqu

Where the true sadhana of Vedanta is to be found

Somewhere Among the Stars: Reflections of a Mystic By Adi Varuni Kali/BluOne Ink, 282 pages, Rs 395 Decades ago, when an unknown N

India celebrates National Voters’ Day

The 13th National Voters’ Day was celebrated across the country Wednesday with president Droupadi Murmu gracing the national event held here. Kiren Rijiju, union minister for law & justice, was the guest of honour. The chief election commissioner, Rajiv Kumar, election commissioners Anup Chandra

INS Vagir to give fillip to Navy: Admiral Hari Kumar

The Indian Navy commissioned its fifth stealth Scorpene class Submarine INS Vagir on Monday at the Naval Dockyard, Mumbai in the presence of Admiral R Hari Kumar, Chief of the Naval Staff. Vagir was launched on November 12, 2020, under Project 75 (P75) and post completion of sea trials it w

Uddhav joins hands with Prakash Ambedkar ahead of BMC polls

Ahead of the Mumbai civic polls, former Maharashtra chief minister Uddhav Thackeray on Monday announced an alliance with Prakash Ambedkar`s Vanchit Bahujan Aghadi (VBA). Addressing a joint press conference, Thackeray said their grandfathers, Keshav Thackeray and Dr. B.R. Ambedkar, were conte

How women leaders enable collective action at local level

Ela R. Bhatt, the founder of SEWA, once said, “There is ample proof to demonstrate that women can and do build strong and vital organizations around issues that relate to them, and find viable solutions out of their own experiences.” Women Leadership Schools (WLSs) promoted by Se

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter