India Ed-Tech Market Revenue Growth During COVID-19 period
Analysts at Ken Research in their latest publication "Working Professional & Ed-Tech/University Paradigm Analysis for Online Up-skilling/Re-Skilling Programs during COVID-19 period" observed the current status quo of the Online Skilling industry in the country, with respect to the supply side (ed-tech companies and universities) and demand side (working professional learners). The report details the key trends from the ed-tech company side, touching upon the key strategies implemented by companies in response due to this situation. It covers marketing strategies implemented, the rise in traction that ed-tech platforms are witnessing, the customer acquisition techniques that companies are using & the changes that their relationship with universities is undergoing during this period. From the demand angle, it covers the desirability and the preferences of working professionals to pursue online courses during this period.
COVID Impact on the Ed-Tech Industry
While the pandemic has proved to be a difficult opponent for most industries, Ed-Tech is one such disruptive sector wherein, the pandemic has accentuated the demand for online learning. Ed-Tech players especially in the Higher Education segment have been experiencing considerable spikes in users accessing their platform. Metrics including Users, Engagement, Completion Rates, Leads Generated & Revenues have risen during this period for Ed-Tech companies.
Strategic Changes Implemented by Ed-Tech Companies
In response to the high amount of people that are now looking to enroll in up-skilling and re-skilling programs, ed-tech companies have focused on introducing free content, in a move to widen traction across their programs. To increase the affordability of programs, companies have also introduced flexible payment mechanisms to allow learners with reduced purchasing power, to enroll in such programs and to gain the perspective of online education platforms.
Marketing Techniques Leveraged by Ed-Tech Companies
Online learning players across the spectrum are now focusing more upon online marketing of their brand and courses, in a bid to capitalize on the huge target audience that spends a major part of their day online on any device. They have focused on launching online advertisement campaigns and reduced spend on television, radio or print advertising. They have also partnered with other online platforms and government associations to build their brand and improve traction on their platform.
Working Professionals Online Learning Trends
Professionals across the country are looking to utilize the extra time on their hands to upgrade their skill-set and stay in touch with the rapidly developing technologies in the job spectrum. They are increasingly becoming comfortable with the idea of learning online and are willing to devote sufficient time and money for learning online. Data Science, Digital Marketing, IoT, Cloud Computing and Software Development were some technologies that working professionals were most interested to learn and upgrade their skill-set in. They were also identified to be most interested in enrolling for short duration courses. The growth in online learning has not only spread to individuals but also to the corporate sector, with companies looking to train their employees online in the upcoming technologies across the spectrum.