Indian Online education industry to have a turnover of $1.96 billion by 2021

Indian Online education industry to have a turnover of $1.96 billion by 2021

With the increased penetration of internet and smartphones, the online education industry is expected to hit the mark of $1.96 billion by 2021 according a joint report published by Google and KPMG.According to the report, there has been a two-fold increase in online searches for education and from mobile platform the growth in the same search has increased by three fold. "It is also interesting to note that high growth in education search queries is now coming in from tier 2 and tier 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," said Nitin Bawankule, Industry Director, Google India, in a statement. In last one year there has been four-fold growth in content consumption related to education alone on YouTube."There are several evolving trends in the Indian online education segment. These include emergence of hybrid learning channels, continuous need for working professionals to learn new skills as well as emergence of technologies such as big data and artificial intelligence that is enabling online education vendors to design customized content," noted Sreedhar Prasad, Partner, KPMG India.

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