How K-12 Online Education is Overpowering Corporate Training

Technological advancement has escalated the traditional brick and mortar education system to the online mode. The easy access to online education has grabbed public attention and K-12 Online Education has become a larger part of the virtual learning world. According to market data Forecast, the K-12 Online Education Market has been valued at $450 billion in 2018, however, it is further expected to touch $1803 billion by 2023 at a CAGR of about 32.0 percent. Nonetheless, K-12 Online Education’s growth pace is not showing any signs of slow down. It is on par to be more precise it is overtaking the corporate training. Thus, the e-learning industry is forecasted to grow by about $38 billion from 2020 to 2024. As the witness of the e-learning sector growth, the industry’s pioneer Coursera is already valued at more than $1 billion and is setting an example to the fellow players in the industry.

K-12 Outcast Corporate Training
The K-12 Online Education market has a massive impact on learning by inducing gamified education’s superior benefits over the traditional teaching methods. The online training enables the educators to become more involved in the students, as it provides a highly versatile and accessible and increases the teaching methods out casting the schools. The e-learning segment has been maintaining its dominance in the market during the forecasted period. Although, the current corporate world is expecting continuous learning and to upscale their career opportunities.

There are various reasons for online education to ace as compared to the regular classrooms. The vital reasons are the rapid growth of internet connectivity in the growing economies that is driven by the rising federal budget, which has a positive impact on the online learning market. Also, the growth prospect is quite stable in the e-learning sector. The other factors that have led to the growth of the segment are the raising use of Social Media and Mobile Apps, growing AR & VR Applications in e-learning. Also, the growth of blended learning in education technology, furthermore, higher Internet penetration, and internet-supported devices. Apart from all these, the sector's growth noticed amongst the global workforce as well as migrated skilled labors.

e-Learning’s Market Growth
The e-learning market size is growing rapidly, as the constant upskilling is most important in the present competitive world. Thus, according to KPMG reports nearly 90 percent of corporations are using e-learning, the number was just four percent in 1995. Also, 68 percent of employees prefer to learn at the workspace.

EdTech’s Revolution in Education Sector
As the name indicates the amalgamation of education and technology has given birth to Edtech. These companies have simplified the learning process for the students, especially the ones aspiring for various prestigious competitive examinations. Edtech has broken the stereotypical learning process and has induced practical learning as well as making the learning process more interesting and encouraging reasoning quality among students which aids in improvising the learning process. Additionally, these companies have provided an educational platform that addresses all the pain points that hinder a student’s learning process and enabled anyone could learn at any point of time consecutively these transformation has changed the education landscape in India.

Many such ed-tech startups are bringing in such transformation across the country. For instance, Byju’s, the most renowned online education founded by Byju Raveendran and his wife Divya Gokulnath in Bangalore. Byju’s offers engaging video lessons, personalized learning, unlimited practice sessions, and most importantly engaging questionnaires to make the learning process a fun activity. Lately, Byju’s has associated with companies such as Disney to further make the learning more attractive. The company has more than 9,000 employees and its revenue is close to Rs.520 crores. Byju’s investors include Tiger Global Management, Bond, Owl Ventures, General Atlantics, Qatar Investment Authority.

Likewise, Brainly, a knowledge-sharing community was 200 million students and experts co-ordinate to solve questions. The company was founded in 2009 in Poland by Michał Borkowski and is currently available in 35 countries. Brainly has an active user base of over 200 million. It has answered over 50 million questions to date.

Today, the schools and educational institution require a more endeavour changes it the present education system. This is gap could be bridged by inducing the technology based education in the regular classrooms. Thus, the regular educational institutions could also ace like the edtechs and enhance the educational quality in India.