Thursday, March 28, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Banking Financial Services and Insurance India’s EduFin market is expected to reach ₹ 31,000 Cr by 2026...

India’s EduFin market is expected to reach ₹ 31,000 Cr by 2026 owing to Government Initiatives such as SWAYAM & Diksha. Will the projections justify the growth rate? : Ken Research

The industry will be witnessing a CAGR of over 40% with government taking care of the pain points & expanding the market horizon, says a report by Ken Research

1. Demanding Reforms: India’s Vast Education Market Calls for Continuous Development

India Education Finance Market

Click to Read Full Article: India EduFin Industry

India has a population of over 1 Bn with over 26 Crore students just at the school level. Every year over 8 Mn College Going Students require skill development to be Job Ready. There is a continuous need for summer training programs of <2 months (8 weeks) and career programs of 3-5 months for interview prep, finding internship opportunities and resume building is a necessity for college going students in order to get employed. When it comes to PG students, annually 4.5 Mn people pursue traditional PG Programs (MA, M.Com, MSc, MBA, Ph.D) who require constant job placement support and corporate-ready skills. Out of total corporates; 32 Mn working professionals feel the need for continuous part-time Specialized Up-skill courses. Job professionals are also interested in upskilling themselves to climb up the corporate ladder, indicating a dire need for reforms in the Edtech & Edufin Market in order to fulfil the increasing demand. 

2.Government & Consumer interest:” The Edufin market in India has seen a buzz in recent years as people resort to education loan schemes.

India Education Finance Market

Request a Free Sample to learn more about the report: Click here

With one of the world’s fastest-growing economies, India has undoubtedly emerged as one of the fastest-growing FinTech hotspots in recent years. When it comes to education market, Students and parents are being more in favour of SNPL, zero-cost, and seamless pay-later solutions in the edufin market. In contrast to traditional choices, there is a rising number of unique customer-centric education finance programs. Additionally, PMVLK is a one-of-a-kind platform for students looking for education loans. It offers students a single-window electronic platform for information access and prepares applications for Educational Loans and Government Scholarships. This program seeks to include all banks that offer educational loans.

This government effort is anticipated to help students across the country by providing a single point of entry to various Educational Loan Schemes offered by all banks. Moreover, in the last 18-24 months, a new trail of startups, digital lenders, and NBFCs have attempted to enter the education finance space by offering flexible loans at low or zero interest rates, admissions, and career counselling support, and a ‘Study Now, Pay Later’ option – an extension of FinTech’s popular ‘Buy Now, Pay Later.

3. New reforms by the Government & Entry of new startups alongside a digital wave are expected to be witnessed by the EduFin Market in India.

India Education Finance Market

Visit this Link: – Request for custom report

India’s EduFin market is expected to reach in the next 5 years owing to the adoption of EdTech sector. Education reforms in the form of the National Education Policy (NEP 2020) is expected to democratize education helping India achieve its goal of 50% Gross Enrolment Ratio by 2035. Moreover, entry of new startups in the EduFin sector is likely to be witnessed, backed by debt financing from VC firms. Tie-ups with EdTech companies expected to create a stronghold in the industry. Furthermore, the emergence of FinTech companies in the education sector will augment the spread of digitization in the country by promoting more and more people to embrace high-quality education. All in all, the market is expected to register a robust growth rate in the upcoming years.

RELATED ARTICLES

The Analysis on Global Capital Market, Industry and Report

The world of finance can be a complex labyrinth, especially when terms like "global capital markets" and "investment banking" get thrown around. While they're...

A $65.2 Billion Opportunity: Decode Growth Drivers in Online Education Financing Market

The online education market is booming, opening doors to new skills and knowledge for individuals worldwide. However, rising tuition fees and program costs can...

Financial Brokerage Market, Size And Challenges, Outlook To 2029

In the dynamic world of finance, brokerage services play a pivotal role in connecting investors with lucrative investment opportunities. This article delves into the...

Most Popular

From Humble Beginnings to a $52 Billion Boom: Unveil Opportunities in India’s Booming Interior Design Market

India's interior designing market is witnessing a remarkable transformation, driven by various factors. This blog delves into the market size, growth projections, key trends,...

Smartphone Industry Insights: Navigating Growth, Trends, and Opportunities

The smartphone industry is a juggernaut, weaving itself into the fabric of our daily lives. From communication to commerce and entertainment, these pocket-sized powerhouses...

Theme Park Boom: Market Size, Trends & Top Players Shaping the Thrilling Future

The theme park industry isn't just about roller coasters and cotton candy anymore. It's a multi-billion dollar global phenomenon, offering immersive experiences that cater...

The Analysis on Global Capital Market, Industry and Report

The world of finance can be a complex labyrinth, especially when terms like "global capital markets" and "investment banking" get thrown around. While they're...