Buoyed by the rapid expansion of the digital learning market and the world’s largest population in the age bracket of six to 17 years, The Indian education market is expected to almost double to $180 billion by 2020. The adoption of technology in this sector has opened flood gates of opportunities for the entrepreneurs, businessman and startups to get their roots firmed in the business, making it one of the most promising markets now. Let’s take a look at opportunities for the edupreneurs and businessman in the education sector in India.
Daycare/ crèche/ pre-school:
Preschool or child care market in India will grow impressively during the forecast period and will also post a CAGR of almost 22% by 2020, market research analysts at Technavio have predicted. Parent’s concerns and awareness, especially that of the working parents, has opened windows for the business opportunities for the pre-school and playschool sector in India.
Private tutorial service:
The private tutoring market in India has had a record growth of almost 35% in the last five-six years. The forever growing anxiety of students and parents due to the competition in the education field has let a space for the private tutorials to grow their business.
Open e-library/ e-book club:
The Global E-book market is expected to grow at a CAGR of 17.40 percent over the period 2014-2019. Leaving no room for old schools techniques or outdated modes of learning, technology has spread its roots in every nook and corner of business. E-book has opened gates of opportunities for owners of e-library and e-book clubs.
Skill development /Training school:
India and Germany have signed an agreement on vocational education and skill development with a budget of US$ 3.37 million. This will help create and improve cooperative workplace-based vocational training in India’s industrial clusters. In order to boost the Skill India Mission, the Government of India has allocated around Rs 17,000 crore (US$ 2.55 billion) towards skilling, employment generation, and providing livelihood to millions of youth.