India is considered to be the 2nd Fastest Growing Freelance Market in the World.
1. Stronger Impetus towards Already Fast-Growing Ed-Tech Adoption among Working Professionals & Graduates in India
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- COVID-19 accelerated Trend in adoption of Online Learning in India. education has changed dramatically, with the distinctive rise of e-learning, whereby teaching is undertaken remotely and on digital platforms.
- Research suggests that online learning has been shown to increase retention of information, and take less time, meaning the changes coronavirus have caused might be here to stay.
- Even before COVID-19, there was already high growth and adoption in education technology
2. Youth employed in full-time jobs are most willing to take up freelance work in the future
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- 78% of India’s working youth who held 0-1 job in the last five years and are willing to take up freelance work.
- 84% of India’s working youth who held 2-3 jobs in the last five years and are willing to take up freelance work.
- 86% % of High-earners (earning more than ₹20,000 a month) inclined towards freelance work.
3. Freelance Workers (Gig workers) could Reshape India’s Future Job Market Landscape
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- GIG Workers taking skilling courses with time to enhance their skill set as companies (such as EY) have a database of a few 100 freelancers whom they hire regularly for various projects.
- Major IT firms like TCS, Infosys and Microland, hire independent consultants regularly at all levels for multiple projects.
- Top paying gig jobs: Content Writing, Translations, Creative works, Recruitment, Sales, Digital Marketing, Branding, Software Development, Architecture, Building Information Modeling, Accounting, Data Analytics, Consulting, Counseling etc.
4. Technical skills are the trends in the market, but nowadays, youth are brushing up their soft skills and are more eager to learn them through various agencies
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- Technical Skills – Overcrowded with presence of 80+ Edtech players; 2-3 players added every yr. 75% of programs on SPOC platforms are technical/ IT courses.
- Soft Skills – Few 5-6 Verticalized edtech players. Frag. among MOOCS and Corporate training corporations.