Higher education, lifelong learning to drive edtech market growth, says Redseer report

Bengaluru: The net higher education and lifelong learning market inside India’s edtech house is poised to hit $5 billion by 2025, supported by the easing of laws governing levels, based on administration consulting and market analysis agency Redseer.

“India’s booming edtech market, which noticed a number of startups and elevated funding through the pandemic, is anticipating additional increase on the again of progress in greater schooling and lifelong studying segments,” mentioned Abhishek Gupta, engagement supervisor, Redseer.

The transition to the credit score system, and extra college students and dealing professionals realising the necessity for greater schooling, is additional contributing to the increase on this sector, it mentioned, including, “The longer term is definitely shiny for this sub-segment, making it an thrilling house to look at.”

The net schooling market, which incorporates K12, greater schooling and lifelong studying or upskilling in India is presently value round $1.9 billion.

Lifelong studying contains vocational coaching, language and different particular talent set coaching that’s delivered to working professionals or college students who’ve accomplished their formal schooling.

The marketplace for on-line lifelong studying will develop additional with a “sturdy push after Covid because the financial uncertainty additional establishes the necessity for steady studying,” the report famous.

Aside from the slowdown in schooling as a result of Covid, present abilities turning into more and more redundant, job creation lagging behind new additions to the workforce yearly, and a mismatch between trade necessities versus schooling curriculum in faculties are the opposite causes for the expansion, the report mentioned. Additionally, because the waning of the pandemic, the College Grants Fee has allowed universities in India to supply as much as 40% of programs a semester on-line.

The report additionally mentioned there was a pointy improve in mergers and acquisitions within the edtech house in India. India noticed three new unicorns minted within the edtech house in 2021 – Eduditus, upGrad and Vedantu.

After a spree of acquisitions in 2021, Byju’s introduced its current acquisitions of Good day English and GeoGebra in March. Gurugram-based edtech startup CollegeDekho Group additionally acquired Getmyuni and IELTSMaterial this month.

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