Online education industry in India to be worth USD 2bn by 2021
We all know online education industry has a huge market in India. But as per the latest research, this industry is estimated to be worth USD 1.96 billion by 2021. Also, the paid user base is likely to grow 6X (from 1.6 million users in 2016 to 9.6 million users in 2021). These are some of the highlights of the report titled ‘Online Education in India: 2021.’ The research was conducted by KPMG, along with insights from Google search.
As per experts, the main factors driving this growth are increased reach, perceived convenience and personalisation offered by online channels.
Some other interesting highlights of the report are:
- There has been a 2X growth in online education searches in the last two years
- 3X growth in online searches are from mobile devices
- 44 per cent of education searches are from regions other than top 6 metros
- In the last one year, there has been a 4X growth in education content consumption on YouTube
- The primary and secondary education category is likely to become the largest category having a student base of around USD 773 million users.
- Competitive exams and other test preparation sector is expected to grow at a CAGR of 64 per cent and will become a USD 515 million category
Source: The Economic Times