The Education Industry of India is huge. With a total of 25 Lakh institutions across the country, 25% of which are privately owned, the industry is a behemoth in itself.
As per the statistical report published in 2014 by the Bureau of Planning, Monitoring and Statistics, Government of India, every year 768,197,000 (768 Million) new students enroll into educational institutions in India. When compared with The United States, In fall 2016, about 50.4 million students will attend public elementary and secondary schools. Of these, 35.4 million will be in prekindergarten through grade 8 and 15.0 million will be in grades 9 through 12. An additional 5.2 million students are expected to attend private elementary and secondary schools (source). The fall 2016 public school enrollment is expected to be slightly higher than the 50.3 million enrolled in fall 2015.
The research paper published here is quantifying the Total Addressable Market (TAM) or Market Potential of Payment Gateway Companies from Education Vertical.