(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 08, 2025 (GLOBE NEWSWIRE) -- The "India Executive Education market Outlook to 2029" report has been added to ResearchAndMarkets.com's offering.
In 2024, the India Executive Education Market reached a valuation of INR 1480 Cr, driven by the rising demand for leadership development programs among professionals and organizations seeking to enhance their competitive edge. The market's growth is fueled by the increasing adoption of digital platforms, enabling institutions to offer flexible and customized learning experiences.
The India Executive Education Market is poised for remarkable growth reaching a market size of INR 2090 Cr by 2029, driven by expansion of executive education in emerging technologies, increased international collaboration and globalization of programs, and rising importance of sustainability and ESG in executive education.
Key players in the India Executive Education Market include the Indian School of Business (ISB), Indian Institute of Management (IIM), XLRI Jamshedpur, SP Jain Institute of Management and Research (SPJIMR), and the Indian Institute of Technology (IIT). These institutions have established themselves as leaders by offering a diverse range of executive programs tailored to meet industry demands.
In 2023, cities like Bangalore, Mumbai, and Delhi NCR emerged as dominant markets for executive education in India. Bangalore's position as the IT capital of India drives demand for executive programs in technology and digital transformation.
In 2023, ISB launched a new Executive Education Program in collaboration with Coursera, targeting mid-career professionals looking to upskill in areas such as digital transformation, leadership, and strategy. This partnership reflects the growing trend of blending traditional executive education with online platforms to reach a broader audience.
India Executive Education Market Segmentation
By MDP Programs: The India executive education market is segmented by MDP programs into information technology, manufacturing, professional services, financial services, healthcare, and others. In 2023, information technology dominated the market. This dominance is primarily due to the rapid pace of technological advancement and the critical need for IT leaders to stay ahead of emerging trends. The IT sector in India is a significant driver of economic growth, with companies heavily investing in upskilling their management teams to navigate the complexities of digital transformation, cybersecurity, and AI.
By EMBA Programs: The India executive education market is segmented by EMBA programs into information technology, manufacturing, professional services, financial services, healthcare, and others. In 2023, information technology dominated the market. This dominance is driven by the critical role that IT plays in the global economy and the rapid pace of innovation in the sector. IT companies, particularly in India, are at the forefront of adopting new technologies such as AI, cloud computing, and cybersecurity.
India Executive Education Market Growth Drivers
Digital Transformation Initiatives by Corporations: The increasing focus on digital transformation among Indian corporations is a significant driver for the executive education market. According to a report by the Ministry of Electronics and Information Technology, majority of large enterprises in India are prioritizing digital transformation in their 2024 strategies. This trend has led to a surge in demand for executive education programs focusing on digital leadership, AI, and data analytics. Companies are investing heavily in upskilling their senior management to navigate the complexities of digital change, driving growth in the executive education sector.
Rising Demand for Industry-Specific Executive Programs: Industry-specific executive education programs have seen substantial growth, particularly in sectors like IT, BFSI, and healthcare. Data from the Indian Ministry of Skill Development and Entrepreneurship indicates that in 2023, there was a substantial increase in enrollments for healthcare management programs. As industries continue to evolve, organizations are seeking specialized executive programs that address sector-specific challenges and opportunities, leading to increased participation and growth in the market.
Corporate Learning and Development Budgets: Companies in India have significantly increased their budgets for learning and development, particularly for executive education. A survey by the Confederation of Indian Industry (CII) in 2023 revealed that the majority of large enterprises have allocated a substantial portion of their HR budgets to executive training and development. This rise in investment is driven by the need to equip senior management with the skills required to drive business growth in a competitive and rapidly changing environment.
India Executive Education Market Challenges
High Cost of Executive Programs: The high cost associated with executive education programs remains a significant barrier to market growth. Many mid-sized companies in India find the cost of top-tier executive education programs prohibitive. This challenge is particularly pronounced for smaller organizations that lack the financial resources to invest in expensive executive training, limiting their access to these programs and affecting overall market growth.
Limited Access to Quality Programs in Tier-2 and Tier-3 Cities: While major metropolitan areas like Bangalore, Mumbai, and Delhi dominate the executive education market, there is a significant gap in the availability of high-quality programs in Tier-2 and Tier-3 cities. The limited access to quality education in smaller cities restricts market expansion and limits opportunities for executives in these regions.
India Executive Education Market Government Initiatives
National Skill Development Mission: The Indian governments National Skill Development Mission, launched in 2016, aims to upskill professionals by 2025, with a focus on enhancing the leadership capabilities of senior executives. This initiative is expected to provide substantial support to the executive education market by encouraging companies to invest in upskilling their management teams.
New Education Policy (NEP) 2020: The New Education Policy 2020 is mentioned as one of the government initiatives playing a crucial role in transforming the education landscape in India. The policy aims to overhaul the education system, focusing on areas like vocational training, online learning, and holistic development.
Future Trends
Expansion of Executive Education in Emerging Technologies: Over the next five years, the India Executive Education Market is expected to see significant growth in programs focused on emerging technologies such as artificial intelligence (AI), blockchain, and cybersecurity. This growth will be driven by the increasing need for technology-savvy leadership in Indian businesses. The shift towards these domains will be supported by continuous advancements in technology and the growing importance of digital transformation across industries.
Increased International Collaboration and Globalization of Programs: The trend of international collaboration in executive education is set to accelerate, with Indian institutions forming more partnerships with global universities. These collaborations will enhance the global perspective of Indian executives, preparing them for leadership roles in a globalized business environment. The inclusion of international components, such as faculty, curriculum, or study modules abroad, will become increasingly common in executive programs.
India Executive Education Market Competitive Landscape
Indian School of Business (ISB): ISB partnered with Microsoft to enhance its executive education offerings. This collaboration aims to integrate advanced technologies into the curriculum, enabling participants to leverage AI and data analytics in their strategic decision-making processes. This partnership reflects the growing trend of incorporating technology into executive education to prepare leaders for the digital age.
A selection of companies mentioned in this report includes, but is not limited to:
Indian School of Business (ISB) ICFAI Business School (IBS) - Hyderabad Great Lakes Institute of Management, Chennai AIMA XLRI IIM Ahmedabad IIM Bangalore XLRI IIM Lucknow Fore School of Management IIM Ahmedabad IIM Indore IIM Shillong
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