The education industry is booming across the world. The industry generates large scale revenues and employment. The revenue from higher education alone in the US is worth over $400 billion. However, the state of the education industry in most developing countries, such as Afghanistan, Bangladesh, Pakistan and nearly all of Africa, is bleak. The literacy rate in these countries is still below 60%.
In India, the education sector is poised to witness major growth in the years to come as India will have world’s largest Tertiary-age population and second largest graduate talent pipeline globally by the end of 2020. The education market in India is currently valued at US$ 100 billion and is expected to nearly double to US$ 180 billion by 2020.
The education industry consists of schools, colleges, universities and various government & private institutions. The education industry provides its students with the knowledge and skills to adapt to a continually changing working world. The industry consists of an expanding array of organizations that strive to provide lifelong learning to its customers. The education sector can be broadly classified as primary education, secondary education, higher education and vocational education. The Education industry is crucial to the workforce capability of all other industries, but it also faces unique workforce development challenges of its own. With its responsibility for skilling the current workforce and preparing future generations for work and life, the Education industry is subject to intense public and political scrutiny and to frequent waves of policy change and review.