Online education is a form of education which is administered and delivered via the internet, also called e-learning. It provides a new mode of learning in different languages. It adds medium for students to develop expertise remote locations. It includes massive open online courses, online courses, and certification and designed or blended courses among others. Some features of online education are include mobile learning, content security, assessment management & live feedback, quick user integration, motivational triggers, student information management and online admission etc.
According to study, “Online Education Market in India (2018-2023)” some of the major companies that are currently working in the online education market are The Birla Institute of Technology and Science (BITS), IGNOU Ltd., Pilani, Symbiosis Centre for Distance Learning, AEON Learning Private Limited, NIIT Pvt. Ltd., Tamil Virtual Academy, BYJU’s Pvt Ltd., Educomp Solutions, Vedantu Innovations Private Limited, Dexler Education, Think & Learn Private Limited, Medvarsity Online Limited.
The online education market is categorized into test preparation, primary & secondary education, higher education, reskilling & online certifications and language & casual learning. On the basis of type, the market is segmented into corporate and academic. On the basis of learning mode, the market is segmented into instructor-led learning mode and self-paced learning mode. On the basis of delivery mode, the market is segmented into Learning Management System (LMS) and packaged contents etc. The packaged content is included videos, e-books, and simulations.
On the basis of product type, the online education market is segmented into content and services. On the basis of technology, the market is segmented into rapid e-learning, mobile e-learning, virtual classroom, application simulation tool and podcasts etc. In addition, on the basis of end user, the market is segmented into higher education, K-12, government, corporate and vocational etc.
Some of the key advantages associated with the online learning are flexibility of using time, lower cost, continuation in current profession, comfortable learning environment, personalized guidance, variation in course module, effectiveness, pacing and networking opportunities etc. Apart from advantages, some of the disadvantages include internet connection problems, unsuitable for hands-on fields and lacks the warmth of face to face interaction etc.
The market of online education is mainly driven by increasing implementation of IT security and cloud based solutions. Increasing demand for technical education, favourable demographics, growing youth, rapid growth in digitization,growing penetration of smart-phones & internet connectivity and government regulations& policies are significantly adding opportunity which have led to the growth of the market. Additionally, some of the key new trends include popularity of big data & learning analytics, emergence of cloud computing and inclusion of gamification to drive engagement levels.
Some institutes have started offering online courses in country such as Amity University, Sikkim Manipal University, Indira Gandhi National Open University, Visvesvaraya Technological University and Symbiosis Center for Distance Learning. The government has also created policies for developing online education delivery infrastructure and expansion of digital literacy in country. Digital India (DI) initiative provides a major support in development of online education. The main aim of this initiative is to provide high value services of internet at reasonable price for enlargement of online education in country.
It is expected that test preparation market will become major market segment due to rise the number of various exams such as union public service commission (UPSC), bank probationary officer (PO), graduate management admission test (GMAT) and common admission test (CAT). It is estimated that the market of online education will be bright in near future.
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Ankur Gupta, Head Marketing & Communications