Minma Online Education Services
The Significance of Online Education
The online education market is one of the largest revenue contributors to the IT and ITeS sectors combined. According to Statista, the online data platform, estimated revenue for online education Services is expected to touch US$185.2 billion in 2024, growing at 8.6% annually to reach US$257.7 billion in 2028.
Online education’s key benefit is making high-quality learning opportunities available and accessible to everyone.
The largest revenue contributor to this market is online university education with US$120.7 billion in 2024, of which the US is expected to generate the highest revenue of all: US$87.51 million. Needless to say, online education Services and its growth are important to the IT, ITeS and Education sectors globally, and to the growth of the IT economy.
There are three contributors to this revenue: online university education, online learning platforms, and professional certificate courses.
At the moment, the top 5 markets for online education services are the United States, China, the United Kingdom, India and Canada – with consumers growing across the globe, demanding education in a variety of subject areas and in several languages.
The top 5 online education service providers (i.e. vendors of outsourced education services) are 2U (USA), Coursera (USA), New Oriental Education and Technology Group (China), TAL Education (China) and Udemy (USA). There are many more online education service providers which are popular with individuals, institutions (for group learning) and corporate enterprises (for employee training).
There doesn’t seem to be a definite count of online education providers, but the number is likely to be in the early thousands, including the big brands such as those mentioned above, and many small-to-medium businesses and institutions, spread globally. Together, they offer tens of thousands of courses globally, servicing millions of students.
According to data published on their respective websites:
- 2U has 83 million registered learners in their network.
- Coursera has 129 million registered learners in their network.
Online Education and Edtech
In anticipation of this prospective market, and the changing educational technology that invokes this evolution and growth in online education worldwide, our parent company, Mind and Matter Marketing Solutions, has been preparing for this future since 2016.
In the past, we have partnered reputed education institutions like Indian Institute of Management Calcutta (through Times TSW) and online education providers, preparing pedagogies and digital content for learners in online university education, online learning platforms, and professional certificate courses through institutions and corporate organisations. We have also innovated to service niche segments in the market through products and partnerships.
Today, our roster of partnerships is an enviable list which includes global online education provider Coursera; institutes like Indian Statistical Institute Kolkata, IIT Guwahati, IIT Roorkee, SP Jain Institute of Management and Research, O P Jindal Global University; corporate organisations like Le Cordon Bleu Online and PwC; and government departments such as the Andhra Pradesh State Government in India.
Broadly, our services cover strategy and planning to creation, production and delivery of digital content and eLearning solutions. Apart from this, we also facilitate coordination with stakeholders of eLearning projects and online education service providers.
Our work has also included delivering online education for learners in K-12 schools through our own Schoolink and WOWL curricula. Our WOWL program on English language education for the masses is a partnership with United Education Group UK, through a British Council initiative.
Our teams are now experienced in working with multiple pedagogies and learning platforms in online education, course instructional design, course content production, delivery and assessment to increase learner comprehension and to meet pre-determined outcomes for our partners and ourselves.
Over the years, we have built our expertise in:
- Understanding learners of all ages and their learning needs.
- Creating and producing persuasive video and online content for various target audiences.
- Managing digital and eLearning programmes for our online education partners.
- Creating learning software products (apps) for web and mobile delivery channels.
- Helping our online education partners successfully implement their programmes to grow their businesses and reputation.
The fact that we continue to win new client projects, as well as repeat business from our existing clients, reinforces our confidence in online education, and is a testament to our capabilities and our ability to build client relationships.