As universities go online, education landscape set to change; growth to match US, Europe

By: |
Published: May 1, 2019 11:14 AM

Total enrolment in online education will grow at 33.6 per cent CAGR and cross 2.12 crore by 2022.

With the universities going online in India, the education scenario is set to change tremendously, making the country’s growth rate of enrolment at par with that of the United States of America and Europe, according to a report.

UGC regulations have allowed universities to offer online programs, which were not legal in India till now. This, combined with the continued government efforts would help make education available to many who are willing to pursue it but lacked time and access.

The enrolment in Online Degree or Diploma Programs will experience 14.5 per cent CAGR growth and will reach 63.63 lakh by 2022, according to a recent report titled ‘Trends and opportunities in the online learning market’ released by Schoolguru Eduserve (a TeamLease group company). This growth in enrolment will become comparable to that of the United States of America and Europe where it is 16 per cent and 12 per cent respectively, the report added.

Not just the higher online education, but the whole gamut of online education ecosystem including formal degree re-skilling programs, will see an exponential growth, the report added.

Total enrolment in online education will grow at 33.6 per cent CAGR and cross 2.12 crore by 2022. The online re-skilling and certification market (for the repair and upgrade) will reach Rs 3,333 crore by 2022.

READ ALSO: Uday Kotak’s mantra to overcome NBFCs’ challenges; three key things to know

Noting that there has been a rapid evolution in the field online education over the last five years, the report expects the industry to soon enter the era of Virtual and Augmented Reality at the learner-end and AI and machine learning at the back-end.

However, the report noted several challenges faced by the online education sector such as language familiarity, high fees, Lengthy duration of the course and enrolment procedure, unavailability of qualified online instructors, inadequate student-faculty interactions.

According to the report, some of the hindrances that the online education sector is facing are unavailability of qualified online instructors, inadequate student-faculty interactions, duration of the course, lengthy enrolment procedure and high fees.

Online education is not only a growing industry, but is an effective model to address the challenges of cost, equity, and employability in our education system and help the industry to prepare, repair and upgrade of its workforce, CEO and Founder, Schoolguru Eduserve Pvt. Ltd Shantanu Rooj said. Online learning has the potential to increase the gross-enrollment ratio (GER) rates from the current 25 per cent to 30 per cent and if blended with on-job learning, can help improve the employability of our youth in India dramatically, he added.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Kharif sowing 88% higher than last year; here’s why this season is faring better than last one
2West Bengal’s unemployment rate at 6.5% in June ‘far better’ than that of India, says CM Mamata Banerjee
3Biggest economic retaliation step! India puts complete ban on import of power equipment from China