According to reports, Malaysia ranks at 3rd place among countries with the highest eLearning adoption rates. Owing to technological advancements and rising smartphone users in the country, Malaysia’s online education market is expected to grow at a CAGR of 16.4% over the forecast period 2016-2023.
Additionally, persistent government initiatives are also propelling the market growth of online tutoring platforms at an ever-increasing rate in Malaysia. Students also are getting more comfortable with eLearning as they can access content more effectively and at their convenience. All these factors are contributing immensely to the growth of Malaysia’s online eLearning industry, hence, creating a huge demand for online tutoring platforms and creating a lucrative business space for entrepreneurs.
Let’s get an in-depth understanding of the online tutoring industry in Malaysia and how you can start your own tutoring business effortlessly. But, before that let’s explore the emerging eLearning trends in Malaysia.
Emerging eLearning Trends In Malaysia
The eLearning industry is growing rapidly worldwide and factors like massive mobile and internet penetration are highly contributing to that. However, there are certain other emerging trends too which are contributing to the Malaysian education sector’s growth. Let’s have a look at those factors:
- Increased demand for online learning during the pandemic in Malaysia
The unprecedented outbreak of the COVID-19 pandemic has contributed to the rise of eLearning. During the times when schools, colleges, and all educational institutions were shut down and learners were suffering, online learning platforms came to the rescue and transformed the education industry completely.
The comfort and ease of use offered by these online platforms provided immense convenience to learners and their parents, hence, contributing to the popularity of online learning platforms. In fact, the impact was so huge that even after the pandemic was over, learners still prefer to study online.
- Rising adoption of mobile technology
With the evolution of mobile technology, learners find online learning a more convenient mode of study. They can access study material anytime and anywhere. Wide acceptance of online learning platforms among learners is propelling the Malaysian online education sector.
- Strong initiatives by regional governments
The government of Malaysia has expressed its vision to improve information technology in Malaysia and is focused on improving and digitizing the education sector in the country. The government is dedicated to providing affordable and convenient education to overcome the shortage of quality education in Malaysia.
The promotion of online learning platforms, and providing tablets and laptops to students are some of the initiatives taken by the government of Malaysia to promote online learning. As government take efforts, more students are starting to use online learning platforms and gradually shifting from traditional learning to digital learning completely.
- The Popularity of Adaptive Learning
Adaptive learning is a style of education where sessions, courses, and study materials are tailored according to each student’s individual needs. As learners are getting more inclined towards personalized learning, the demand for online platforms that can provide an adaptive learning environment is increasing. Already, so many eLearning platforms are offering adaptive learning, and there’s no reason that the trend won’t continue for the foreseeable future.
Till now, we have explored different trends which are emerging and would shape the future of the eLearning industry in Malaysia. Considering these trends, the future seems quite promising and will provide lucrative opportunities to entrepreneurs who are planning to step into this industry.
How to Start Your Own Online Tutoring Business In Malaysia
It is certain that eLearning is going to be the next big thing and will be a highly profitable business in the decades to come in Malaysia. However, the biggest concern that puts entrepreneurs in a huge dilemma is which approach they should opt for to build their platform: custom development or ready-made solution.
To make this journey a cakewalk for you, we have gathered all the information that can help you in building your online tutoring business. Let's simplify things down to the pros and cons of each of the options so that the right choice can be made.
A custom-developed platform is based on the unique requirements of a particular business. The platform is built from scratch and tailored according to the unique business needs of entrepreneurs. This approach offers greater flexibility and high customizability. However, the process takes a huge amount of time, money, and effort.
The custom-development approach includes requirement analysis, building the code, testing the software, and deployment, hence, taking almost around 8-9 months to actually launch the business in the market. Entrepreneurs need to wait for more in order to launch their platform and assess the performance of their business idea.
In addition to that, maintenance of a custom-developed platform is more expensive and takes longer to upkeep.
Ready-made solutions, also known as off-the-shelf solutions are ready-to-use online tutoring software that can be used to quickly launch their platforms in the market without much hassle. These ready-made solutions come power packed with all the essential features required for the smooth running of an online tutoring platform. Considering the investment, this solution is way more cost-effective as compared to a custom-developed solution.
Additionally, as these solutions are already tried and tested by multiple businesses before, the chances of any errors, bugs, etc. are very low. As the time to market is less in the case of ready-made solutions, it definitely provides an edge over your competitors in the market.
Software solution providers also offer 24/7 technical support and full assistance which makes the whole process of launching your business uncomplicated.
Over To You
When deciding which solution will help you grow your business, you need to consider the requirement and goals of your business. Certainly, ready-made and custom-built solutions have been delivering promising results over the years, ready solutions are gaining popularity due to their affordable price and minimum time consumed in the launch.
Yo!Coach is one such popular ready-made software solution that is fully customizable and highly scalable. The solution is tightly packed with a suite of basic and advanced features for launching a tutoring marketplace. Additionally, it comes pre-integrated with all essential APIs required for the seamless functioning of a tutoring platform and to expand its capabilities.
A full-blown marketing module in Yo!Coach helps tutoring businesses gain wider reach and business promotion. The architecture of Yo!Coach is scalable and customizable enough to cater to the growing demand in the online tutoring market.