Prime Minister Narendra Modi’s Digital India campaign has widened the horizon of education in the country. The campaign was launched back on July 2, 2015 with the aim to make India more technology efficient and also to bring it at par with the world. Digital India has a great potential to transform education in the country without changing the ground-level basics. Online education is slowly taking over the traditional educational methods and it is enhancing the whole industry overall in terms of money as well as innovation. Due to the increase in the popularity of the internet, the online education market is expected to witness high growth rate during the forecast period- 2019. There is a rise in the demand for distance learning because of which the global online education market is growing rapidly.
In this competitive world of today, no employer wants to hire an employee that only knows the bookish language and has no idea of what is going on in the society. Skill learning is what people are looking for. Increase in popularity of skill-based learning is another major factor driving the growth of online education market. By online education or e-learning, we mean learning in a 100% virtual environment. In the urge for changing education system as compared to the 19th-century methods, technology is equally creating a strong business opportunity which is a vital step. This has minimised the risk which is especially important with the high stakes of children’s future.
Taking inspiration from PM Modi’s digital India campaign, several start-ups have popped up to take education far beyond experimentation and open doors to a new path that is skill-based learning. Nikita Singhal and Pravesh Rana, the founders of Talent4Assure while talking about online education said, “Whatever form the education system takes, self-assessment will always be the key to gain self-confidence and achieve the heights.” On the other hand Nikhil Chainani, the founder of Perspectico said, “Technology should be used wisely by the students to fetch unbiased information on what and why a career path should be chosen by young students.”
Like Talent4Assure and Perspectico there are various other companies that promote e-learning inorder to prepare students/candidates for the real world. According to a recent study report published by the Market Research Future, the global market of online education is booming and expected to achieve prominence over the forecast period. The global online education market is projected to accrual to USD 423 billion by 2023, at a staggering double digit CAGR of 24 % between 2017 and 2023.