The pandemic hit us hard, it pivoted us into a completely new way of learning that was difficult to adjust to, nevertheless, it has also made us adapt to many positive changes. As a society, we have technologically enhanced ourselves since the onset of the pandemic. There has been a significant evolution in the field of education and learning. Students and professionals have become keener on enhancing their skills by opting for online workshops and courses at their convenience. The online workshop and course market globally has witnessed exponential growth in the post-pandemic era. We will be listing down ten stats to support this fact-
1. The Indian Workshops and Cohort based Courses market is estimated to grow massively by the year 2026
The value of the Indian online workshop and courses market in 2020 was at INR 91.41 billion. By 2026, it has been estimated to grow at an insane rate to reach a value of INR 312.13 billion. It will expand at a compound annual growth rate (CAGR) of 17.60% during the 2021-2026 period.
News Source- Market Research.
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2. India has witnessed a great demand for short-term certification courses and workshops by working professionals
A potential employee is skilled in tackling evolving technologies. To fit the changing demands of the labor market, working professionals are driven to learn new skills constantly. Online workshops and courses on niche subjects have become an easier way to re-skill themselves. According to the KPMG Report 2021, significant growth has been observed in the re-skilling and online certifications market in India. In the 2016-2021 period, the market size has grown from 93 million to 463 million, at a compound annual growth rate of 38%
News Source- KPMG Report 2021
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3. The Indian Government’s initiatives to encourage online learning-
The Government of India launched many initiatives to provide children with free and accessible learning platforms. Swayam-‘Study Webs of Active Learning for Young Aspiring Minds’ offered courses from high school to post-graduate level. According to the Press Information Bureau report 2019, 1.02 crore students enrolled in that year. On March 28, 2020 the government claimed that number tripled during lockdown.
4. Asia Pacific countries account for the maximum number of online learners-
According to the World Economic Forum, Asia Pacific has the biggest presence of students opting for online courses. India ranks second at the country level with a total of 13.6 million online learners. These numbers are proof of how popular online learning has become in India and will soon become an integral part of the education system.
News Source- World Economic Forum
5. The Global Online Workshops and Courses market is said to reach $1 trillion by 2027-
According to a report by market research firm Global Market Insights, the market size as of 2020 was USD 250 billion. The projections are that the value will reach $1 trillion by the year 2027 with a compound annual growth rate of 21%. The Asia Pacific market including India is projected to account for 26% of the e-learning revenues during the forecast period.
News Source- Global Market Insights
6. The corporate e-learning market is predicted to increase by $38.09 billion during the 2020-2024 –
According to a report by Business Wire, the corporate e-learning market will witness a massive growth 0f $38.09 billion between 2020-2024. The compound annual growth rate will be at 11% during the forecast period.
News Source- Business Wire
7. Cohort based startup TagMango has seen incredible growth in its Creator earnings-
TagMango is a platform for content creators and influencers that helps them monetize their skills by conducting interactive online workshops and courses. It has an impressive list of 13 investors including Y-Combinator and Pioneer Fund. The TagMango platform witnessed a 55% month-on-month increase in creator earnings.
So, if you are a content creator looking for a platform to connect with your audience online and earn through it, then sign up on TagMango as a creator and host workshops and courses effortlessly. Share your expertise with the audience and monetize your content.