Edtech Jun 30 2015

Rapidly growing E-Learning industry in India

By myly

E-Learning has become a platform that is helping people achieve their dreams. It is helping people cross the boundaries that seemed far too long the day before. With multiple benefits like open courses and low costs, its use is increasing rapidly in India and is expected to keep increasing.

Key takeaways:

  1. India, currently the second largest market of E-Learning.
  2. InIndia’s E-Learning industry booming with a CAGR of 17.4%, fastest amongst all.
  3. PShortage of colleges might accelerate this growth further.
  4. MOOCs becoming popular among companies and institutions.
  5. Schools gearing towards E-Learning as well.

E-Learning, Electronic Learning, is a method to learn online using audio-visual methods, presentations and e-books. In this kind of learning, content and assistance is provided online and rest everything needs to be done on the device. In some cases, course providers ask you to submit final works based on the assignments and questions provided by them. They assess your work and award you certificates based on that.

“Learning subjects and topics, that you had leaped owing to the societal pressure, or due to monetary reasons or due to the insufficient time, over the internet is known as E-learning.”

It might seem far too stretched, but this is precisely what e-learning is. And in this competitive world where everyone is busy following traces of other people, the need of E-learning has amplified.

Growth rate by country

India is said to be in nascent stage of e-Learning. Ironically, it is currently the second largest market for e-Learning, which means that it is going to witness a big transformation in the sector of online learning. India has also shown the largest growth rate amongst all countries in the field of e-Learning in the past years, followed closely by China1. According to a report by TechNavio, India is expected to witness a CAGR of about 17.40% in E-Learning during the 5 year course of FY2013-20182.Harman Singh, founder of WizIQ (An online learning platform), says,

“E-Learning in India is looking at a promising growth due to continuing rapid growth of the online education market. The government focus on creating a “Digital India” is a significant development which will lead to enhanced growth for the digital education sector. Availability of high quality internet connectivity continues to be an improvement area countrywide.”3

Adding to all this, India is expected to face a shortage of about 250 million skilled workers by 20224. This problem can be tackled by E-learning. Government can introduce e-skill and e-learning portals for skill development in manufacturing, hospitality and tourism sector. India is also going to face a shortage of universities and colleges as the number of potential college students will far exceed the total number of college seats. This might drive e-Learning to an even greater extent than predicted.

One of the vital components of e-Learning, MOOCs (Massive Open Online Courses), is blossoming at a great rate. MOOCs can be of great assistance to corporate companies and organizations. Companies can use these services to train people who want to be a member of their organization.

Currently, 7% companies use MOOCs in corporate training and this number is expected to increase to 28% in the coming two years5. And according to a report by Sandler Research, the global MOOC market is expected to grow by a CAGR of 56.61% between 2014and 20186. Further, this would also promote their organization as a socially responsible company.

E-Learning is not limited to students and universities. It has several bounties for schools and teachers as well. Schools can use E-learning to build better content and also provide students with content over the internet. Online courses can also help schools in providing training to teachers and stay updated with the latest courses. Further, it also helps them promote discussions amongst teachers via discussion platforms.

It’s not just that the shortage of educational institutions would drive students to e-learning methods. There are numerous benefits that e-Learning offers. Here are a few of them.

  1. Multiple and diverse course availability
  2. Cost-effective
  3. Irrespective of Study Time
  4. Easy accessibility
  5. Collaborative learning via discussion forums

E-Learning is a live example of how technology and education, when combined, have the ability to transform the whole world. E-Learning is the future of education, not only in India, but in the whole world.

Contribute to the above blog post by commenting your views.

myly is a cloud based technology platform that provides schools with transaction, management and communication solutions that are future proof, scalable and cost-effective. For more information, visit www.mylyapp.com

Sources: myly.com, Avendus (2013), subprint.com, Software Advice, US green building Council

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