Indore: While many local businesses are drowning and most are struggling to survive, India seeks an unprecedented growth in the education app development sector. With Indore being the start-up hub, this growth spur is cited in the city.
As reported by industry experts, maximum growth is recorded by Information Technology (IT) first generation businesses and start-ups in Indore.
Speaking to IT start-up heads known for working in field, the growth rate in domestic market of education application is noted about 100 per cent and about 30 per cent globally was reported.
The global Smart Education and Learning Market size is anticipated to reach USD 665.12 billion by the end of 2026, owing to the growing advancement in learning platforms. Fortune Business Insight in their report titled ‘Smart Education and Learning Market’.
Since announcing free live classes on its Think and Learn app, BYJU’s has seen a 200% increase in the number of new students using its product, according to Mrinal Mohit, the company's Chief Operating Officer.
Ravi Gupta, start-up incubation coordinator, “While there is a lot of objection against schools running online classes, this stay was not applicable to private educational applications.” Hence, the private coaching class and activity classes saw a major boost.
“Further, capturing the school space, classes are also developing their own applications and software,” Gupta said. However, he felt that limiting schools from providing online education while allowing all other private classes is not a justified move.
“The spur in growth of education application has been captured by IT start-ups in Indore. The spur is expected due to covid-19 outspread and enforcement of online education. However, limiting schools from providing online education and not charting the same in private coaching classes is not justified.”
- Ravi Gupta, Coordinator, Start-up Incubation Centre
Growth rate as pinned by the first generation leading IT start-ups
Education app now providing 40% project share
“The share of education application has expanded in software industry. The sector which was not very highlight or even a major source of projects for us, is now providing 40 percent projects of total projects.
People are more focusing to e-learning. We are getting the enquiries from coaching and schools too. We are getting domestic and international projects in education. For example, we are working on funded projects from United Kingdom also for education.
There has been a 30 percent growth globally and locally, it’s surprising to get enquiries for education app developments.”
- Faheem Hasan, Founder, Maven Cluster
Domestic growth over 100%, international demand is surprising
“Domestic market has shown a steep growth in education applications and software. The growth is over 100 percent in domestic markets.
In international markets, the growth is about 20 percent only. In fact, even that is surprising as most countries where Indian companies take up projects from are already developed and have a proper online education system in place.
The growth spur is definitely surprising and beneficial to Indore start-ups and software companies.”
- Kuldeep Kundal, Founder, Cyber Infrastructure
Expand Locally, not just Globally now
“IT development business saw initial challenges in the international as covid-19 outspread slashed down the world economy. But now, as we unlock, IT start-ups also need to expand their innovation and expand their market from global to local as well.
The opportunities for IT are growing in Indian markets and the growth spur is seen in Indore as well. We are receiving company projects for education apps.
Recently, we received two projects from Indore itself, which was not expected before. One of the project was for providing online coaching.
Another was for providing language learning curriculum to 1 to 8th grade.”
- Dikshant Mahant, Founder, Ziasy