India’s Online Education Market Predicted to Grow to $40 Billion

In recent years, India has come to be known as fertile grounds for educational opportunities, with 1.2 billion people within its country falling into the target market for services relating to education. While the online education market within this country is currently worth around $20 billion, this number is set to double by 2017. Anil Sonkar, the LoudCloud Sysrems Chief Technology Officer states that there are drastic changes that are expected to take place within this industry within about 3 years, and this is promising to be a very exciting and rewarding period within the country’s history.

The Reach Of India’s Educational System

At the moment, India has a very widespread education system, with over 1 million schools and around 18,000 institutions offering higher education. While this number seems extensive, there is still a need to make higher education more available to the general public, and the answer might just lie in online education.

LoudCloud Set To Make Its Mark On India

Currently, LoudCloud has been involved in the establishment of online learning within the country, and it is set to make certain innovative changes that will raise the level of efficiency with regards to these types of offerings. The company has begun talks with the Centurion University of Technology and Management, which is based in Odisha, and these two educational powerhouses will begin working together in 2013.

Changing The Way People Think About Education

It has recently come to the attention of many higher institutions that there online offerings might not be sufficient to meet the needs of prospective students, and so many establishments aim to change this through innovation and technology – LoudCloud plans to do the same. By analyzing the specific needs of the students who will be completing the courses offered by this online establishment, they will be able to make the appropriate changes that are necessary to ensure their students are getting what they need for the successful completion of their studies. It is thought that, although online education has the ability to provide prospective students with the opportunity to obtain a qualification that does not come with the same financial and geographical constraints as brick-and-mortar institutions, there is still a lot that needs to be done in terms of refining the approach of online education.

Plans To Expand

In order to reach a wider base of students, LoudCloud is looking to expand fairly quickly, and it is thought that they are looking to invest around $5 to $10 million into this project. The services of LoudCloud do not only extend across India; these services are also being used by institutions across the United States, including the Career Education Corp and Jefferson Country School District in Colorado.

At the moment LoudCloud currently boasts around 1,500,000 members, but this number is expected to rise to about 10,000,000 members as the institution expands over the next 3 years. The company is still in talks with many other universities within India and it remains to be seen just how far their reach will expand as more and more students take advantage of the opportunities they are presenting.