Technopak and Simplilearn,
a leading global Ed-tech company, have jointly published a report titled, “Technopak
and Simplilearn Whitepaper on the Digital Learning Market in India”. Covering
the most significant trends expected to impact the digital learning landscape
in India. The report highlights that the online professional education market
globally is expected to exceed US$9bn by 2020, growing at compound annual
growth (CAGR) of 14% from 2016 – 2020.
Rapidly Growing Ed-Tech
Sector - Online Certification Training
With the growing demand
for skilled talent in the IT industry today, the report highlights that working
professionals are increasingly looking to enhance their employability by
up-skilling with online certification training in emerging technologies like
Big Data, Cloud Computing and Salesforce, Project Management, Mobile App
Development and Digital Marketing. Technological advancements in the IT
industry has raised awareness about certification training, which is
reinvigorating the Indian online professional education space.
Emerging Learning Trends
– Gamification, Augmented and Virtual Reality
The report also indicates
emerging trends, and forecasts the gamification of learning and simulation as
well as the implementation of augmented and virtual reality in education. It
states that the global market size of simulation-driven learning is ~US$4.4bn.
With a share of 0.25%, the simulation based learning market in India is
estimated to be worth US $13mn in FY’16, and is predicted to grow at a CAGR of
over 100% in the next 4-5 years.
“Skilling is one of
India’s most critical needs today. However, given the pace of development,
there’s a growing realization that skilling needs to be seen from the
perspective of lifelong learning. Digital-Learning and online certifications
open up a gamut of options for students looking to enter both traditional and
non-traditional fields. It also makes learning more interactive, personalized
and self-paced. Students get access to world class content, faculty, pedagogy
and certification – anytime, anywhere and at a much affordable cost”, says
Aurobindo Saxena, Vice President at Technopak Advisors. According to
Technopak’s analysis, India’s digital learning market is currently estimated at
US$2bn, growing at a CAGR of 30% and is expected to reach US$5.7bn by 2020.
There’s a huge demand emerging from working professionals as well to reskill
themselves. This rapid demand is supported by the increasing requirement of
skills such as data analysis, project management and digital marketing.
Krishna Kumar, Chief
Executive Officer of Simplilearn said, “The whitepaper summarizes the different
growth drivers of the Indian digital learning market, along with the
opportunities and challenges they bring for the online education service
providers. Keeping in mind the current skill-gap and the advances in Ed-tech,
it’s indeed exciting to see how online certifications have opened up a gamut of
opportunities for students and professionals in a world where technologies are
changing every few years.”
Technopak education
analysts also highlighted the various factors that are contributing to the
growth of the digital-learning market in India:
· Increasing integration of world economies
· Rise in Internet penetration in India
· Reduction in prices leading to rise in
ownership of mobile devices
· Rising aspiration for world class education
backed by willingness to pay for it
· Government focus and support
Internet and digital
penetration
India currently has 462
million internet users with a penetration of 35%. This growth is driven by the
adoption of mobile internet, with 65% of internet traffic originating from
mobile devices. With programs such as the Digital India Initiative, digital
literacy and penetration is projected to increase significantly in the next few
years.
MOOC enrollment
India has the second
largest MOOC user base after the US and its rapid expansion means that an
increasing number of courses have a majority of people from India. Being
affordable and accessible, MOOCs are helping address the quantity and quality
education gaps in India by supporting traditional classrooms.
Government Support
The government of India’s
Digital India initiative is a flagship programme that envisions to transform
India into a digitally empowered society and knowledge economy. Around 20+ new
initiatives have been launched to widen the scope of the Digital India
Programme to include projects in the areas of digital infrastructure, digital
empowerment, on-demand government services and promotion of industry with the
aims of universal digital literacy and universally accessible digital
resources.
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