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Government more spending on education and with the influx of huge number of capital investments, online education industries number in China showed geometric growth in the year 2013. At the beginning of the year 2014, leaders of internet giants most commonly called BAT (Baidu, Alibaba, Tencent) has began to seize the online education industry in China. As per Renub Research Analysis, China Online Education Market will be an opportunity of US$ 100 Billion by 2026.
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How COVID-19 is driving the Digital Education Market in China
China's economy has been walloped due to the outbreak of coronavirus. Since, many businesses have been shut temporarily due to the quarantine rules. But this lockdown came as an unexpected boon for the online education sector. According to our research, DingTalk, software developed by Alibaba has been installed 1.1 Billion times in China due to Covid-19, and it is being used extensively by schools and students. Approximately 220 Million Chinese students – primary, secondary and tertiary were homebound during Lunar New Year holiday because of the current epidemic. This pandemic offers an enormous opportunity for the companies operating in online education space.
The factors that are helping the China E-learning Market to grow are as follows:
• Increasing government spending on education
• Propelled by conducive environment favourable policies and capital inflows
• Accelerated revision of the laws on private education and supporting policies
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• Shift from PC to Mobile Client
• Huge development potential of K12 online education market
However, the factors like Lack of supervision of online platforms may hinder the growth of China online education market during the forecast period.
In this report, we have studied, China online education market by segment- Early Childhood Education, K12+Steam Education, Corporate Training, Vocational Training, Language Training. The K12+Steam Education market is growing at a rapid pace.
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