Online Education Market Reaches New Heights With Growth in Internet Usage
The Education Market in India is estimated to be of about Rs 5.8 trillion. With more than half of the population of the countryÂ being young and are below 25 years of age the usage of internet has increased drastically in past few years. This has given boost to the online education market, as the usage of devices such as mobile phones, laptops and tablets have also increased.
Analysis of number of Internet users in country
The number of internet users in India are increasing every day. India can have more than 600 million internet users by 2020.Â With the changing trends and increasing internet usage some of the most important entrance exams have also taken the route of internet by conducting online exams. CAT (Common Admission Test), JEE Main, Civil services Exam, BITSAT and several other banking and other competitive exams have also been taking place online.
India is growing at a very aggressive rate in almost all dimensions. As per researches it is found that, about 243 million users are engaged with internet by this year end, and it is expected that by 2015 this data can beat the US as well. The shocking factor is, roughly 15.2 % of the entire 1.2 Billion population of the country is only utilizing the internet and rests are yet to connect.
Growth in the internet usage in India â€“ Trends
As more number of internet users use internet from their cell phones, they are now able to access services and products which are otherwise tough to access. In past few years the internet has revolutionized several sectors such as, travel, education, agriculture, retail and many more. With the rapid growth of internet usage it has also helped making lives much easy. For instance the governmentâ€™s railway ticketing website, IRCTC is the nationâ€™s biggest e-commerce portal.
Increasing Mobile Phones Enabling the Internet Usage to Rise
According to a report by Morgan Stanley, with falling prices of the smart-phones and increasing penetration in the market the number of internet users across the country is expected to reach 519 million by 2018.
Online education: One of the booming Sectors in India
With more than half of the mobile users being below 25 years old, it is obvious that most of them must be studying and preparing for some or the other qualifying exams, and hence internet education has reached another level today.
Advantages of Online mode of preparation over Offline modes
Variety and freshness: The online preparation material market has emerged drastically and the online classrooms have become much better and smarter with all latest technology. Various new models of delivering Education has been discovered and the process of developing skills in the students has been making a buzz all over. The benefited group from this market is only the students and candidates preparing for various competitive examinations. With the online proctored tests now students are availing the best of the best facilities in order to gain the knowledge. And, with the increasing internet usage due to the smart-phones, this is seen as another step ahead of all.
Larger Reach: With offline preparation centers the biggest disadvantage is the catchment, and with online process a larger reach can be covered where more number of students can be imparted the preparation methods and guidance.
Can also touch remote places: The online mode Â can also touch those remote places where offline centers cannot be available and this is one of the biggest advantages of online medium, especially for the tier II cities and non-metros
Facilities offered with Online Modes of Preparation
Flexibility and Convenience:Â : Students can easily access all their courses at any point of time from anywhere. This simply implies that students, professional working on the go can also attend the online classes and prepare, irrespective of their schedule. All they need is a device (laptop, PC, Smart-phones, tablets etc) that connects internet and has access to have the online classes on it.
Online-recorded video lectures: With online recorded videos of professors and experts of various subjects students can avail the complete guidance at any time. With these online video lectures the students can learn at their own speed and can maximize the results of online learning. In case any students missing any lecture can cover up at any other time by viewing the recorded video and can cope up with the curriculum.
Live interactive video classes: It is found in several researches that, interactive video learning process is quite helpful in making the students understand the concepts. It is enjoyable as well as consumes less time in making the students learn. With interactivity between the teacher and the student it impacts a positive effect on learning and learners learn lot faster and have a better attitude towards learning. With interactive video classes students can inquire their doubts and get them cleared instantly with the help of the experts.
Online study material: Students can access these online study materials from anywhere across the globe with just the internet connection and the devices supporting it. This is a great source of studying and it helps students prepare well for various competitive exams which have also now taken the online route. With the study material there comes various preparation tests which students can prepare at any point of time.
Several tools for doubt-clearing: With the innovation of theÂ technology there are several tools being developed by the brands involved in the online education to ease the learning process of the students a better experience. There are several apps being designed especially for the preparation purpose for the students with which they can access these materials from anywhere and anytime.
The Test Prep market in India
The Test Prep market in India including both online and offline modes is estimated to be of Rs 25,000-32,000 Cr as of 2012 and is subjected to grow to an extent of Rs 33,000-46,000 Cr by the end of 2015. Several brands are entering this market and making it more convenient for the students appearing various exams every year right from the schooling to the Post Graduation.
With the increasing use of technology the market has got widened and has got several new prospected targets for the business model of online prep. It has also hit the affordability mode and has given rise to several new segments along with prep materials.
By utilizing the strong and impactful marketing skills and initiatives the giants in the sector of online prep have made it reach to a whole new level. It has been defining new dimensions and verticals in recent years.