Online Education Market Outlook in India
The online education market in India is to be highly impacted by the emergence of cloud computing. The cloud technology enables eLearning companies in India save a significant amount of data, content, and information on a single platform. The saving of data makes easier for users and providers to manage, procure, process and access information from anywhere possible. Another major eLearning market trends is the rising popularity of big data and learning analytics. The eLearning market in India is forecast be worth over $18 billion by 2022. The technology helps online course providers measure learner’s preferences, failures, success, and behaviors, thereby obtaining actionable intelligence to improve course designs. Thus, rising awareness of analytics will push growth in the online education market in India. With the rising demand of prospective learners looking for alternative education sources, the country offers significant opportunities for eLearning companies in India, offering products or services based on digital platforms. The significant adoption of latest technologies and methods the Indian online education market size is expected to grow in leaps and bounds.
According to the latest market report from Technavio, the online education market size in India is set to grow by USD 14.33 billion during 2020-2024, registering an incredible CAGR of over 21% over next four years. For more information about the Indian online education market size, top eLearning companies in India, and eLearning market trends, check Technavio’s Online Education Market in India Rreport 2020-2024, or request your Online Education Market in India Report Sample for FREE .
Future Trends of eLearning Market in India
According to the economic survey of Organization for Economic Co-operation and Development (OCED), 30% of Indians between the ages of 15 and 29 are neither enrolled in education or skill training nor in employment. This indicates that the traditional education system is unaffordable which is resulting in low enrollment. Besides, the companies are looking for skilled workforce and not just manpower, thereby pushing the job aspirants to look for other resources such as MOOCs. This rise in demand for online education has encouraged top eLearning companies in India to adopt latest technologies and methods to impart the best course material to the prospective learners.
Increased penetration of internet and smartphones in India is another major factor which is driving growth in the online education market in India. High penetration has created huge consumer base for eLearning companies in India to acquire and monetize the opportunity. The country offers significant opportunities to the educational content development companies in India by offering products or services based on digital platforms. For instance, Bangalore-based BYJU’s, an EdTech company, launched its mobile app in 2015, which has been downloaded by approximately more than 6 million users across the country. Thus, it can be concluded that the future of eLearning in India is impressive and promising for eLearning companies in India.
Read more: Top 10 Edtech Companies in the World
Top 10 eLearning Companies in India 2020
BYJU’s is one of the top eLearning companies in India which is headquartered in Bangalore, India. BYJU’s boasts to receive first investment in Asia from the Chan Zuckerberg Initiative. This educational technology and online tutoring firm has created a K12 learning smartphone app that offers highly effective, adaptive, and engaging learning programs. These programs not only serve school students but also train students for various competitive exams such as IIT-JEE, CAT, GRE, IAS and many more.
2. Dexler Education
Dexler Education founded in 2001, is headquartered in Bangalore, India. Dexler Education provides customized, industry-based education solutions for corporate learning, talent management, and enhanced end user adoption. The company majorly deals with digitizing education and education consulting. Their competencies lie in fields such as ecosystem, technical, technological, and language. With its innovative learning solutions for the learners and organizations the company successfully ranks among the top eLearning companies in India.
3. Educomp Solutions
Educomp Solutions, established in 1994 is a Gurgaon, India based company. Educomp Solutions strives to replace the traditional way of learning with the smarter way. Ranking among the best eLearning companies in India, Educomp is successfully empowered over 30 million learners across 65,000 schools in two decades. The company deals in four segments which includes Higher Learning Solutions (HLS), School Learning Solutions (SLS), K-12 Schools, and Online, Supplemental and Global business (OSG). By producing and making the best use of digital products and online solutions, the company has revolutionized the entire Indian online education market.
IGNOU which is an abbreviation of Indira Gandhi National Open University, was established in 1985 with around 67 centers across the country. IGNOU claims to be the largest university in the world with active enrollment of over 4 million students and hence undoubtedly ranks among the best eLearning companies in India. The university is run by the central government of India, with the basic aim of serving the Indian population by means of distance and open education, providing higher education opportunities to all segments of society. With the rising demand of online education market in India the university is also adopting latest procedures to impart education.
NIIT is another company standing strong among the top eLearning companies in India, which was founded in 1981 as National Institute of Information Technology. Headquartered in Gurugram, India, NIIT offers learning management and training delivery solutions to institutions, corporations, and individuals. The company expertise in three main domains of businesses which includes Corporate Learning Group (CLG), Skills and Careers Group (SNC), and School Learning Group (SLG). NIIT adapted many marketing and advertising strategies for the Indian market including the ‘Computerdrome’ in 1990. The company launched another initiative called Bhavishya Jyoti Scholarships program, in 1991, aimed to improve skills and employability quotient of deserving and socially challenged students.
Edukart also lists among the top eLearning companies in India. Edukart which was founded in 2011, offers education pursuers a platform to select and enroll from more than 2000 courses in degree, diploma, certificate, entrance coaching and K12 categories. The company through various certification programs, is helping students and professionals improve their skills. EduKart is an online entrance coaching site that provides solution to the problems of all education seekers.
Simplilearn, based in San Francisco, California and Bangalore, India is reaching new heights in the online education market in India. Simplilearn is one of the leading professional certification company and successfully ranks among the best eLearning companies in India. It provides online professional courses in disciplines such as Cyber Security, Cloud Computing, Project Management, Digital Marketing, and Data Science.
8. Zeus Learning
Zeus Learning, headquartered in Mumbai, stands ninth among the list of top eLearning companies in India. Zeus Learning concentrates in the development of HTML5-based Interactive Learning Assets, Mobile apps, technology solutions for LMS, CMS and TEI systems, Software Simulation Training, and Content-rich Courseware and Learning Experiences designed using the latest trends for the web and mobile world. The business of imparting education online is slowly becoming its forte.
Meritnation is an Edu tech startup, which is a division of Applect Learning Systems based in Delhi. Meritnation is an online portal that caters to the learning needs of students in school. The company has incorporated latest education technologies such as live video lectures and interactive recorded videos to impart the best knowledge to the students. By conducting regular tests and giving time-bound assignments, it also checks the preparedness of students for exams.
Excelsoft, founded in 2000, also ranks among the best eLearning companies in India. Excelsoft offers value added products and services in the eLearning domain which includes k12, higher education, educational publishers, corporate learning, and test and assessment. The applications of the company include the SARAS Virtual Learning Environment, comprising of a Learning Management System and an Assessment Management System. They also offer SARAS Learning Spaces – an eLearning portal that leverages Web 2.0 technologies to promote informal learning.
eLearning Companies in India: Future Growth and Plans
The eLearning companies in India is striving to replace the traditional education system with the modern education system by adopting latest educational technologies. The emergence of cloud computing and rising popularity of big data and learning analytics are major trends which is changing the face of online education market in India. The educational institutions in the country are shifting to SaaS-based solutions such as ERP and LMS for technical support, provided by cloud service providers. The eLearning companies in India are working effectively with the central government, state government, and educational boards to make the cloud platform prevalent. Besides, by adopting learning analytics or big data analytics, these eLearning companies are helping online course providers design custom-made courses, ensure self-regulation of learners, conduct frequent auto-graded quizzes, and make grades and learning progress accessible to students. Thus, the evolution and rising awareness regarding latest technologies will increase the adoption of eLearning in the Indian market, thereby pushing growth in the online education market in India.