According to a report by KPMG, India’s online education market is estimated to grow to USD 1.96 billion (around 9.6 million users) by 2021. The numbers clearly indicate how technology is changing the way we learn, while on the move. The concept of traditional learning or chalk and blackboard learning is increasingly being replaced (or supplemented) with online education using a computer and Internet connection. Online free courses are proving to be a great choice for most learners, be it students or corporate looking to gain various skills to excel in their professional careers.
What Is An Online Learning Platform?
An online learning platform is a comprehensive system which enables e-learning solutions and secure web-based training solutions that employ an intuitive and simple user interface. These systems are designed to offer all those involved in education like learners, parents and teachers with the right information, resources and tools to supplant and improve educational delivery and management. There are plenty of e-learning companies worldwide that offer learning platforms which allow you to host and sell courses online. Some other platforms simply offer an interface where users can interact with your content.
Benefits of Online Learning Platforms for Transforming the Way People Learn Various Skills
Here’s how online learning platforms are widening the reach of education and transcending it beyond classroom boundaries:
- Self-paced Learning and Enhanced Flexibility
With online learning platforms, students are not tied to a fixed routine and can set up their own learning space. They can revisit the past lectures for enhanced clarity or organizing their notes. They have the liberty to move forward only after they have fully mastered the basic concepts. Unlike, in a traditional classroom set-up where a student may feel uncomfortable asking professors to explain a point again.
Online courses are also suitable for corporates who can’t take out time from their busy schedules to attend a class in person. Such courses allow them to grow professionally while juggling between their work life and personal life.
- A Plethora of Online Course Choices
Online courses aren’t just limited to academics. Today, you can learn infinite subjects on online learning platforms as long as you have a computer, a web connection and the will to learn. For example, you wish to learn a new language from the comfort of your home, there are plenty of language learning platforms that make it easy for you. Or, if you are an IT graduate there are courses in Artificial Intelligence, Machine Learning, Data Analytics and many more that can help you expand your skill set without attending a university.
- Project-based Learning
A pivotal benefit of choosing online learning platforms is their project-based learning patterns. For most courses, there are assignments after you complete a module so you can evaluate your learning. Often, you get to work on real-time projects that teach you how to implement the relevant knowledge and skills you learnt from the online course. Plus, frequent assessments also help reduce distractions and improve the retention rate as evidenced by a research report from Harvard.
Some Use Cases
- Udemy which was founded in 2010 is today a leading online learning platform in India. Founded by Oktay Caglar, Gagan Biyani and Eren Bali the company has grown manifolds in its 10 years of operation. A few months after its launch, it got 1,000 instructors on board creating over 2,000 courses. About 10,000 users had already enrolled for these online courses. Cut to today’s scene where Udemy offers a marketplace with about 1,50,000 different online learning courses ranging from ukulele lessons to business analytics. It has served 50 million students and boasts of 57,000 instructors making for an impressive catalogue. Recently, Udemy picked up $50 million from a single investor, Benesse Holdings. The online learning platform is further looking to improve its courses and identify new areas to move into more deeply.
“We’ve worked closely with Benesse for several years, and this investment is a testament to the strength of our relationship and the opportunity ahead of us,” said Gregg Coccari, CEO of Udemy, in a statement. “Udemy is on a mission to improve lives through learning, and so is Benesse. 2020 will be a milestone year where we serve millions more students and enable thousands of businesses and governments to upskill their employees. This growth wouldn’t be possible without our expert instructors who partner with us every step of the way as we build this business.”
- Online learning management systems such as Unacademy and Byju’s are making the education systems more conducive to learning. A few days ago, Byju raised $200 million from General Atlantic at a valuation of over $8 billion. On the other hand, Unacademy raised $110 million from Facebook and General Atlantic at a valuation of over $500 million.
G.V. Ravishankar, managing director of Sequoia Capital India LLP, which has backed Byju’s, Unacademy and Eruditus said: “Education is a space where Indian parents and students are willing to invest heavily. And, we expect several valuable companies will be built in this sector."
“Immersive technology can today deliver high quality education for millions of students and professionals, in a manner that is scalable and affordable, and the rapid growth in smartphone penetration and access to low-cost internet have created a massive global education market that is attracting several investors."
The Road Ahead for Online Learning
As online learning continues to radically change the way learners acquire knowledge and skills, the future looks bright. If you wish to re imagine the way education is perceived and offer a better learning environment for users, Illuminz can help you achieve your goals. Online learning platforms have the potential to revolutionize the education industry through new developments in different fields of study every day. Allow us to become your success partners by propelling your business to greater heights and extending your horizons. We look forward to discussing your ideas and turning your vision into reality.