India Edutech Market was valued at USD 775.50 Mn in 2019 and is expected 17,374.73 Mn by 2027 at a CAGR of 47.5% over forecast period 2020-2027.
India Edutech Market
India Edutech Market Overview:
With every aspect of our lives being dominated by computers and online channels, education has slowly shifted to digital domain. Education is fundamental right in India under various articles of Indian constitution. Edutech refers to the educational technology to leverage learning by creating, using, and managing technological innovation and resources. Edutech is disrupting the traditional way of gaining education due to its adaptive learning, greater reliance on graphical and video content.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
India Edutech Market Drivers:
1) Low cost of online education:
India has one of the largest education systems in the world with more than 1.4 million schools over 227 million students enrolment and more than 36,000 higher education institutes. The cost of offline education in India saw an increase of more than 125 percent from 2010 to 2018. However, online courses are roughly 50 percent cheaper than the offline alternative because of the lower infrastructure and a larger student base to attain the economies of scale and hence reduce per user price. For instance, graduating from an engineering college in India costs around 1.2 to 1.5 lakh per annum while the same course delivered online costs only 15 to 20 thousand.
2) Increasing internet and Smartphone Penetration
India has a record of highest internet users in world and internet penetration is reached 31%. Increasing internet penetration in tier II, tier III cities and rural areas provides high potential for the growth of e-learning. Nearly 725 million e-learning user bases are projected to reach by 2021.
There are more than 300 million smartphone users in India and is forecasted to rise by 500 million by 2021. Online content providers have designed their platform to be accessible in smartphones. The interface of the applications is compatible even in the low-end phones. Thus this increasing penetration of smartphones and internet is expected to drive the India Edutech Market over forecast period.
Government’s digital initiatives such as Swayam, E-Basta, and Rashtriya Madhyamik Shiksha Abhiyan are expected to crate lucrative opportunities for market over forecast period. Enable the infrastructure needed by students to enroll in online education courses.
India Edutech Market Restrains:
Report covers in-depth analysis and impact level of various restraining factors such as low gross enrollment ratio in higher education, abundance of free content, and low penetration of internet in rural India.
India Edutech Market Segmentation Analysis:
India Edutech Market is segmented by type, by Technology, by Vendor and by End-User and by type. By category, Re-skilling and online certification category is expected to hold 39.54% of market share at a CAGR of 28.21% over forecast period. Reskilling and online certification course assist to users in skill development and up gradation of knowledge. Certification is issued upon successful completion of the course. Re-skilling & online certification is followed by Primary & Secondary Education and Test Preparation with 31% and 18% of market share respectively.
By Technology, Mobile E-learning technology segment is expected to hold highest market share over forecast period. The main advantage of Mobile E leering is that the learners can conceivably carry their class materials almost anywhere they go. As long as they are within the range of a wireless signal, and sometimes even when they aren’t, a learner can take their learning with them. Mobile E- learning is followed by Rapid e- learning and Virtual Classroom. Rapid e- learning is a methodology to build e-learning courses rapidly.
India Edutech Market Competitive Landscape:
India Edutech market is highly competitive. Initially, most of the Edutech companies were B2B focused. They delivered their service by approaching schools or colleges and pitching about the new content. Most of the players had little differentiation in service offering. But, currently various companies such as Byju’s, Unacadamy, UpGrad are focusing on B2C segment.
India Edutech market is dominated by three big players such as Byju’s, Vedantu and Unacademy. Byju’s offers courses from kindergarten to class XII as well as for competitive exams. Unacademy, Bengaluru based startup focusing on competitive exams. Recently, Unacadamy received $120 million funding from Facebook.
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Scope of India Edutech Market
India Edutech Market Segmentation by category
• Primary and Secondary Education
• Test Preparation
• Re-skilling and Online Certification
• Higher Education
• Language and Casual Learning
India Edutech Market Segmentation by Technology
• Mobile E-learning
• Learning Management System
• Application Simulation Tool
• Rapid E-learning
• Virtual Classroom
India Edutech Market Segmentation by Vendor
• Service Provider
• Content Provider
India Edutech Market Segmentation by type
India Edutech Market Key players
• Everonn Education Limited
• India Education
This Report Is Submitted By : Maximize Market Research Company
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