India's data science education market is expected to grow 57.5 per cent to $ 1.391 billion (about Rs 11,569 crore) by 2028, according to a study. The size of the sector in 2023 was $ 204.23 million (about Rs 1,698 crore) and is likely to see a compound annual growth rate (CAGR) of 57.5 per cent over the next five years, the report by edtech platform Imarticus Learning and Hyderabad-based tech portal Analytics Insight said.
The report projected data jobs to go up 57 per cent in the next five years from 2.1 lakh this year to 3.3 lakh by 2028.
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Top recruiters for these roles include Amazon and AWS, Bain and Company, Deloitte, EY and Google, The Data Science Education Report 2023 said.
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The global data science education market is projected to reach $ 378.7 billion by 2030, growing at a CAGR of 16.43 per cent from 2022 to 2030, driven by increasing demand for data science skills in healthcare, finance and retail sectors.
The demand for data scientists will increase by 25 % in the next few years, the report stated.
"The Data Science Education Report 2023 underscores the rising wave of interest in data science education across India and predicts remarkable growth in the data science education industry," Imarticus Learning Founder and CEO Nikhil Barshikar said.
This report estimates that the on-campus data science education market will grow at a CAGR of 56.73 per cent from $ 128.03 million in 2022 to $ 857.57 million in 2027.
Meanwhile, the market for online programmes will grow from $ 76.20 million to $ 533.69 million at a CAGR of 58.82 per cent during this period.
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