The global K12 education market is predicted to witness prominent growth by 2031, due to the rising popularity of online learning systems worldwide. Regionally, the North America region held the maximum share of the market in 2021
NEW YORK, May 5, 2023 /PRNewswire/ — Global K12 Education Market Forecast Analysis:
As per the report published by Research Dive, the global K12 education market is anticipated to generate a revenue of $525.7 billion and grow at a noteworthy CAGR of 17.7% over the estimated period from 2022 to 2031.
Segments of the K12 Education Market
The report has divided the K12 education market into the following segments:
- Type: public and private
- Public – Expected to have the fastest growth by 2031
The K-12 online public schools offer a personalized, high-quality education from test-certified teachers to help students reach their potential which is expected to foster the growth of the market sub-segment further.
- Deployment Mode: cloud and on-premise
- Cloud – Expected to Rise Significantly by 2031
The increasing deployment of cloud technology in K-12 schools delivers various benefits such as eliminating the cost of expensive hardware, providing ease of access and mobility, and many more which is expected to propel the growth of the market sub-segment forward.
- Application: high school, middle school, pre-primary school, and primary school
- High School – Predicted to hold the dominant market share by 2031
Various educational institutions such as universities, vocational schools, trade schools, and various other career colleges offer higher education to students. The inclusion of technology in higher education is expected to amplify the growth of the market sub-segment in the coming period.
- Spend Analysis: hardware, software, and others
- Software – Anticipated to show the fastest growth by 2031
The increasing use of K-12 software in primary and secondary instruction and learning to manage student information, facilitate student collaboration, simplify administrative operations, and many more are expected to fuel the growth of the market sub-segment over the analysis period.
- Region: North America, Europe, Asia-Pacific, and LAMEA
- North America – Registered the highest share in 2021
The rapidly growing education system, higher spending on EdTech, enhanced need for personalized learning classrooms, and rising demand for intelligent solutions to improve students’ school achievement across the region are expected to drive the regional growth of the market over the forecast period.
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Dynamics of the Global K12 Education Market
The increasing demand for software solutions among institutions to facilitate themselves with well-organized enterprise resource planning tools that would assist faculty members to develop better courses and effectively manage classrooms and schools is expected to augment the growth of the K12 education market over the forecast period. Besides, online learning not only allows students to access knowledge from any place but also assures the constant availability of resources which is expected to foster the growth of the market over the analysis timeframe. However, the lack of budget by governments may hinder the growth of the market throughout the estimated period.
The adoption of artificial intelligence (AI) and open educational resources (OER) across educational institutes to give personalized content depending on students’ profiles, performance, and active behavior and to replace traditional textbooks is expected to create huge growth opportunities for the market over the forecast period. Moreover, the increasing investments made by educational institutions such as schools in online learning programs as they are adaptable, simple to install, and require no additional expenditures is expected to magnify the growth of the market during the analysis period.
Covid-19 Impact on the Global K12 Education Market
The outbreak of the Covid-19 pandemic has brought various issues in front of the education sector across the globe. Many schools, colleges, and other learning facilities have shut down during the pandemic period owing to the spontaneous spread of the deadly virus. Moreover, many students from rural areas of underdeveloped and developing countries could not afford the gadgets required for online learning though many schools and colleges have started adopting online learning from continuing education. All these factors have declined the growth of the K12 education market over the pandemic period.
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Key Players of the Global K12 Education Market
The major players of the market include
- Tata Class Edge
- Educomp Solutions
- Blackboard Inc.
- Next Education India Pvt. Ltd.
- K12 Inc.
- Adobe Systems
- McGraw-Hill Education
- Cengage Learning India Pvt. Ltd.
- TAL Education Group
- Pearson Education Inc.
These players are mainly working on developing new strategies such as product development, merger and acquisition, partnerships, and collaborations to gain a leading position in the global industry.
For instance, in February 2022, Ancora, a leading provider of workforce solutions, announced its partnership with McGraw Hill to launch Ancora High School. It is an online high school that offers a high school diploma for students living in Texas. In this school, students can apply on a rolling basis throughout the year and complete their courses in their timeframe.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about K12 Education Market:
- What are the Main Pitfalls While Implementing Online Education Software in K-12?
- Global K12 Education Market to Generate $525.7 Billion by 2031, Due to Increased Adoption of Artificial intelligence (AI) and Open Educational Resources (OER) in Education
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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