New Delhi: India’s Edtech industry to become $30 billion in size in the next 10 years with the growing demand and strengthened business models, according to transaction advisory firm RBSA Advisors.
The industry has attracted private equity investments of $4 billion in the last five years, leading to the emergence of global edtech leaders like Byju’s which now commands a valuation of $15 billion.
India has emerged to be among the top three countries in the world after China and the USA to get venture capital funding in the edtech sector.
Online education offerings for Classes 1st to 12th are projected to increase 6.3x by 2022 from the base of 2019, creating a US$ 1.7 billion market, while the post-K12 market will grow 3.7X to touch US$ 1.8 billion.
The massive adoption in the K-12 segment is being driven by access to smartphones, according to Mihir Gupta, CEO of Teachmint. He stated that the live interactive classes, which are crucial to K-12 learning, have become accessible.
According to the report, India’s education system is multi-fold and one of the largest in the world with more than 271 million students enrolled in more than 1.5 million schools and around 37.2 million undergraduate and postgraduate students enrolled in over 39000 colleges across India.
“Lockdown because of the pandemic has resulted in a massive increase in the private equity investments in the edtech sector because of increasing inclination of students and parents to opt for getting an education from home through various learning platforms,” said Rajeev R. Shah, Managing Director and CEO of RBSA Advisors.
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