The market for online higher education and upskilling in India valued at Rs 30,000 crore in FY23 is set to grow at a CAGR of 23.1% over the next five years, thus reaching the market size of Rs 85000 crore in FY28, according to a report by Technopak Advisors.
In India, the demand for higher education, specialised certifications, and upskilling initiatives has been on the rise, driven by factors such as evolving job requirements, industry advancements, and the pursuit of continuous learning by students and professionals, the consulting firm said.
Technopak estimates that online higher education and upskilling platforms provide accessible learning opportunities, allowing individuals to pursue higher education and upskilling certification courses from anywhere in the world. There is a heightened demand for flexible learning options, allowing students to pursue higher education at their own pace. In addition to live classes, online platforms also provide the flexibility of asynchronous learning, allowing participants to engage at their convenience time and alternative schedules.
Besides, the online higher education and upskilling market offers a diverse array of higher education courses, skilling and certification courses and specialisations, catering to a wide range of academic and professional interests.
Online certifications and degrees earned through online higher education and upskilling platforms are increasingly recognized by employers, and these credentials and certificates add value to an individual's professional profile.
The emergence of key players such as Jaro Education, UpGrad and Talent edge across various segments has played a vital role in advancing the online higher education and upskilling industry, enhancing accessibility, affordability and the appeal of quality education for learners nationwide. Skilling and certification, along with higher education degree programs, stand out as the primary market segments where the majority of these companies primarily provide their educational solutions in a highly competitive market.
Online education, particularly in higher education and upskilling landscape, is increasingly being delivered through collaboration with private players for student acquisition, to act as a feedback mechanism between the institute and the student, technology support by way of providing dedicated studios at these institutes premises, providing market intelligence on what kind of programmes the learners are expecting from these institutes and working closely with learning outcomes. In toto the partnerships with these private players are ensuring high quality delivery of learning online.
As the sector continues to innovate, online higher education and upskilling platforms and entities are well-positioned to play a pivotal role in shaping the future of higher education, certification, and upskilling initiatives in India.
