40 million students likely to pursue higher education in India by 2020 – Indian Education Entrepreneurship Day
- Education market set to grow to USD 1.96 Billion with 9.6 million users by 2021
- Exam prep category is the fastest growing vertical and will continue to be in 2021, growing at a CAGR OF 64%.
New Delhi, September 16th, 2017: TiE Delhi-NCR, the world’s largest network of successful entrepreneurs and professionals hosted India Education Entrepreneurship Day 2017 today, at Welcome Hotel Sheraton, Saket in the capital. The conference saw participation from over 100 delegates and dignitaries brought together to enlighten and share insights from the burgeoning online education and education entrepreneurship market. The closing note was delivered by Vijay Thadani, Co-Founder, NIIT Group who discussed the disruption of education sector and the importance of organizational values for sustenance.
Geetika Dayal, Executive, Director, TiE Delhi-NCR addressed the audience, “By 2020 there will be 40 million students pursuing higher education in India. To enable the potential of these young-bloods, within the next decade there is a need for at least a thousand more universities in India. Education Entrepreneurship is not just the need of an hour; it is the only solution to ensure no child misses out on the opportunities which only education can provide.”
In terms of projections for the sector, Narayanan Ramaswamy, Partner, KPMG presented a report at the conference which talked about the potential of online education in 2021. He mentioned, “India’s education market is set to grow to USD 1.96 Billion and around 9.6 million users by 2021 from USD 247 million and around 1.6 million users in 2016.” He further added, “Competitive exam preparation will be the fastest growing category in 2021, at USD 773 million, growing at a CAGR OF 64%.”
The education market in India currently stands at USD 100 billion. The introduction of technology has led to emergence of alternative methods of enhanced learning. In 2016, the Indian online education market was poised at 247 million USD with approximately 1.57 million paid users.
About TiE Delhi – NCR:
TiE Delhi-NCR, recognized as the best Performing Chapter Globally has a Special Interest Group on Education & Training. TiE is a non-profit, global community welcoming entrepreneurs from all over the world. We believe in the power of ideas to change the face of entrepreneurship and growing business through our five pillars; mentoring, networking, education, incubating and funding. TiE was founded in 1992 by a group of successful entrepreneurs and is currently the world’s largest entrepreneurial organization out there. With programs like TiE Young Entrepreneurs (TYE) and Mentor Match, TiE is reaching out and fostering the next generation of entrepreneurs.
For more details, visit www.delhi.tie.org
Vaidika Parashar – [email protected] | (+91) 7042237121