Google and KPMG on Tuesday released a joint report titled – ‘Online Education in India: 2021’. According to the report, India’s online education industry is expected to grow at a rate of 8x to become a $1.96 billion behemoth by 2021. The report also says that in the last 2 years, India has seen a 2x growth in online searches for education and 3x growth in similar searches from mobiles. The report also reveals that 44% of searches on education were originating from the top 6 metros of the country and a 4x growth was noticed in the consumption of education content on YouTube in the last year alone.
According to the said report, reskilling and online certification segment was valued at $93 million in 2016 and was expected to grow at CAGR of 38% and reach 463 million by the year 2021. The primary and secondary education had the largest audience with a student base of about 260 million as compared to other categories, the report stated. This sector is expected to grow at a CAGR of 60% to reach $773 million in 2021, making it the largest category.
Speaking about the major findings of the report, Google India’s Industry Director, Nitin Bawankule said, “The online education segment is set to become a multi-billion dollar opportunity in India. There are many factors driving this growth including the perceived convenience, increased reach and personalisation offered by online channels. It is also interesting to note, that high growth in education search queries is now coming in from Tier 2 and 3 cities such as Patna, Guwahati, Aligarh and Kota – which points to the opportunities that growing penetration of smartphones and improving quality of internet have opened up.”