The possibility of an economic downturn will create a lot of uncertainty, which will increase the need for continuous online higher education

According to RedSeer Management Consulting, reforms in regulations have boosted online higher education in India, and players in the sector could see a 25-35 percent year-over-year growth in the years ahead. According to Redseer, the online higher education and lifelong learning market (excluding K12 and government test preparation platforms) will be worth USD 5 billion by 2024-25, up from USD 500 million in 2019-20. “Changes in regulations have given online higher education a boost… We are already seeing many players develop at a pace of over 100%, based on current revenue run rate.”

After the pandemic, one of the key industries that saw a major boost was education technology. India’s online higher education and lifelong user base will rise at a CAGR of 50% until FY25, according to the study. “Any industry’s user base growth remains a key indicator. In this case, the user base includes students as well as other groups such as professionals with varying levels of experience, entrepreneurs, and so on “the study that was listed
In the next five years, paying users are projected to rise from 1.2 percent to 8.1 percent. Following the closure of schools and universities, which resulted in the loss of thousands of jobs, many people enrolled in online courses to improve their academics and learn new technology.

“While the industry has been gradually growing over the years, it received a major boost following the pandemic. In the edtech market, India has been growing rapidly, similar to China, according to the survey.
China has shown significant market potential in the edtech sector over the last years. The market stood at $250 million in FY20 and is expected to grow upto $295 million by FY25. The report mentions that of the $4-6 Bn market for online higher education and lifelong learning by FY25, 75 percent would be for online higher education while 25 percent would be for lifelong learning. The report adds that online higher education would benefit from increased public spending, targeted at 6 percent of the country’s GDP.

The figures are based on D2C sales from edtech companies in India, with revenues from edtech companies based outside of India discounted. In terms of the lifelong-learning sector, the study cites factors like increasing skill redundancy, a shortage of industry-focused education, and rising unemployment as reasons why people could choose short-term online courses. During the Covid-19 pandemic, the edtech industry exploded. Although the majority of Indian edtech platforms are focused on K12 and competitive exam preparation, a few, such as upGrad, also offer online degrees and diplomas in partnership with top universities.

Also, he said, online education empowers teachers by providing real-time input on their pedagogy and delivery style, providing more individualised solutions, and automating some back-end administrative tasks. In the long run, online education is projected to be more tier II+ oriented, partly due to population distribution and partly because online offers a better alternative to offline options in many cases.

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