Online Learning Industry Teaching People How to Learn

Peter Drucker, the father of management thinking famously said, "...learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn."

This thought that encapsulates the importance of learning in one's life has become even more relevant in the current scenario. With digital trends bringing about a sea change in how industries and businesses function, constant learning has become a necessity rather than a luxury.

Peter Drucker's thought also highlights the criticality of learning efficiently. While education is meant to help people understand the basics of life, yet learning in itself is no simple task. On the flip side, facilitating learning is no simple feat either. The entire world had to learn this the hard way over the last three years. Since the global pandemic ravaged country after country, the education sector was terribly hit. Educational institutions had to be shut down to slow down the spread of the deadly disease. However, this led to one of the largest learning crises that the world has ever faced.

However, adversity compels us to discover new solutions and this challenge brought to the fore the potential of e-learning.

The pre pandemic world was gradually on a path to incorporating digital aspects into learning. However, the Civid-19 crisis put this adoption in top gear. A research report by Facts and Factors, pegged the global E-learning market to be worth $144 Billion in 2019. The same report also concluded that the said market's value will reach $374.3 Billion by 2026 at a compound annual growth rate(CAGR) of 14.6 per cent from 2019 to 2026.

Taking a look closer home we see the success story that has been scripted by edtech over the past three years. While players such as Byju'sVedantu, etc made the news for their unprecedented growth, yet the entire industry as a whole gained massive traction. A report by RBA Advisors, estimated that the Indian edtech sector is slated to grow at $30 billion over the next 10 years.

This massive growth has also been gaining momentum owing to the rapid rise in internet penetration across the country. India was home to 622 million internet users in 2020 and the number is expected to grow by 45 percent by 2025 according to the IAMAI-Kantar ICUBE 2020 report. The number will touch a whopping 900 million!

Going forward the only challenge this e-learning industry will face is to take the benefits across the country and reach even the last mile. Given the massive population of the country, this growth might not be easy to achieve.

However, young and upcoming startups have taken on this challenge with gusto and are working towards creating innovative solutions to make education reach every Indian, irrespective of where they live.