The market for online higher education and upskilling in India is valued at ₹ 1.32 lakh mn in FY23 is projected to grow at a CAGR of 25.7% over the next five years, thus outpacing offline education and reaching the market size of ₹ 4.15 lakh mn in FY28, according to a report by Technopak Advisors.
In India, the demand for higher education, specialized 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.
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.
Moreover, online higher education and upskilling platforms in India are increasingly engaging in global collaborations, offering courses and programs that offers Indian students to get education and degree from an international college or institute, sitting at their own place. This contributes to the globalization of higher education.
Besides, the online higher education and upskilling market offers a diverse array of higher education courses, skilling and certification courses and specializations, catering to a wide range of academic and professional interests.
Emphasis on skill development within online higher education and upskilling programs enhances the employability of individuals. The collaboration between online higher education and upskilling companies and industries ensures that educational programs stay updated with real-time industry trends and requirements and are aligned with current market demands. Hence, practical, and industry-relevant skills are integrated into the curriculum, making graduates more competitive for the job market.
The cost-effectiveness of online courses in the online higher education and upskilling market extends beyond traditional boundaries, especially when considering international degrees that allow individuals to access the same quality education at a fraction of the cost.
Online degree and certification & upskilling courses, being more flexible, enable learners to continue working while studying, minimizing the opportunity costs associated with a hiatus from the workforce.
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. Unlike offline learning the online learning does not require lots of capital investment on physical infrastructure and so there is no constrain on number of students who can enroll in online higher education courses.
The emergence of key players such as Jaro Education, Talent Edge and TimesProacross 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.
