Data Science Education Grows 46% in India

According to the Data Science Education Report 2024, the Data Science Education in India is increasing across the country's entire territory. According to the analysis, Analytics Insight estimates the Data Science Education market in India to grow from US$299.75 million in 2023 to US$2.04 billion by 2028, growing at a CAGR of 46.77% during the period.

Meanwhile, the market for online programs related to data science will increase from US$76.20 million to US$533.69 million with a CAGR of 58.82%. The list of online education organizations offering different data analytics courses in Imarticus Learning, upGrad, Jigsaw Academy, Simplilearn, Great Learning, and others are defining the course to build the future generation. Some top on-campus institutes that provide the stream of Bachelor, Master, and doctoral courses in Data Analytics include IIT Hyderabad, IISC Bangalore, IIM Ahmedabad, IIT Madras, Manipal Academy, ISI Kolkata, IIT Bombay, IISc Bangalore, and many more. Focusing on the zones, among the institutions that offer PhD in big data, a maximum (43%) are located in the West zonal, followed by the South zonal (30%), East zonal (17%), and North zonal (9%), respectively present in the report.

The NEP 2020 also encompasses India’s burgeoning need for online education and training, which has led to data science education Growth in India. To achieve the above-mentioned objectives, the policy seeks to identify the various positives of the digital and online education system for India while ensuring that the possible negatives are also reduced to a minimum.

Open job postings show that there are 215,793 job postings available in this field of big data analytics, as expressed by the report, which is one of the reasons for Data Science Education Growth in India. Health professionals estimate that it will rise to more than 338,000 in 2028. The growth of Data Science as a field is promising since organizations in India are contemplating the maximization of proficiency and the unabated adoption of a data-driven culture as well as Big Data analytics tools. As per the study, many prominent recruiters such as Amazon and AWS, Bain and Company, Deloitte, Ernst & Young, and Google offer basic pay bands from INR 6. 5 Lakhs to 35. 1 Lakhs. Furthermore, the critical positions that these companies will recruit are mainly Data Scientists with an industry need of 10. The roles were distributed as follows: Data Scientist (45. 9%), data analyst (10.7%), business analyst (10%), financial analyst (5.3%), big data engineer (4.2%), data specialist (1.2%), business intelligence analyst (1.2%), and data science manager (0.9%).

It is going to be significant within an organization because data science can help identify the truth and the facts. With the significance of data science, these professionals will be the cornerstone of any business strategy or plan. Access to data today is vast, and this has positioned consumers to use the insight from that data in ways that were unimaginable in the past. A data analyst is an essential part of any business that handles large volumes of data. With the continued improvement in the value of data, data analysts will enjoy better job prospects and career paths. The IT industry in India has slowly evolved and expanded, especially within the Big Data Technology and Service domain, with a predicted growth rate of about 35.1% in the anticipated year of 2023-2028, according to recent statistics. The demand for data scientist jobs is expected to increase over the next several years by at least 25%, making the job environment for these professionals highly attractive right now.

Obtaining data science education is another question; one may pay for courses online, attend boot camps, or enroll in a degree program. Isolation is another viable way of learning data science for those who cannot physically attend classes or do not want to attend traditional courses conducted by an institution. Hence, boot camps are effective for those keen on a fast-paced learning format and for those who need hands-on data science skills. On the other hand, degree programs offer a more traditional yet rigorous approach to understanding the mechanisms that underpin data science. In a sense, degree programs also assist in having a solid ground by attaining an all-around view of the topic. According to 2019 statistics, the most significant marketing opportunities for data science education still exist in the North American and European areas, where anyone with an interest in being a data scientist has a lot of opportunities. These regions boast good educational facilities, enabling government policies and conservation of the data science field in its research and development processes. The market potential of data science also appears to be rising in Asia Pacific, Latin America, the Middle East, and Africa.

In the present study, the authors have used both primary and secondary data to identify the patterns of curriculum changes and new trends in imparting education in data science in India. To inform the goals and design of the curriculum, the team of researchers conducted a bibliographic review that involved collecting articles and journals of academic research to provide information on improvement, trends, and difficulties in data science education. These reports covered and were sourced from leading data science professionals, professional associations, staffing industry associations, and other industry experts to identify the skills required in the field and job availability. Based on simple and specific research activities, the researchers explore government-related databases and statistical reports in order to understand the demand for data science professionals, the prospects for job growth, and the related policies on data science education. The triangulation method and crosschecking data from various sources were employed in an endeavor to verify the accuracy and reliability of the stated facts and conclusions.

The “Data Science Education Report 2023” reveals the trend of a Data Science Education Grow in India. In this study researching Bachelor’s programs, IITs are at the top positions and also for Master’s degrees with the cooperation of IIMs and other prominent institutions, this report established India’s serious attitude toward grooming talent in this field. There is a significant expansion in the growth of online classes, not only in formal education but also in distance education, which generally indicates the shift towards digital learning. The most significant job requirement that is currently increasing at a rapid pace is the data science profession; besides other IT positions, food for thought underlines the significance of skilled professionals in unlocking the potential of big data in different industries.

FAQs

1. What is the status of data science in India?

So, the data science industry is thriving and full of career opportunities. In fact, in India, jobs like data scientists and business analysts are considered to be the highest-paying jobs in 2023. Plus, now that AI is in the picture, the industry is expected to grow even faster.

2. Is studying data science in India worth it?

According to a survey published by Analytics India Magazine, the data science employment market in India will expand dramatically by 2024, with over 93,500 job openings nationwide. A recent study also discovered that the salary for a data scientist in India is at least ten lakhs per year.

3. What is the scope of data science in India by 2025?

The growth of data science in India is also evident in its contribution to the GDP and job creation. According to NASSCOM, the data science and analytics sector is expected to witness an eightfold growth.

4. Which state is best for data science in India?

The highest concentration of Big Data science colleges in India is found in Maharashtra and Delhi/NCR.

5. Will data science exist in 10 years?

In conclusion, the application of data science is expected to grow significantly over the next ten years as more organizations recognize its importance in today's digital world.

6. Is data science a future-proof career?

Data science is a growing field as more companies and organizations rely on data and analytics to make decisions. This makes it a good option for those interested in pursuing a career in data science. According to 2023 data from India Today, the number of jobs in the industry will increase by 14% by 2026.