BANGALORE, India, Aug. 5, 2022 /PRNewswire/ -- The Global K12 Market is Segmented by Type (Public K-12 education, Private K-12 education, Online K-12 education), by Application (Pre-primary School, Primary School, Middle School, High School): Opportunity Analysis and Industry Forecast, 2022-2028.
The global K-12 Education market size is projected to reach USD 3619.8 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.0% during 2022-2028.
Major Factors Driving the Growth of the K12 Education Market
The rising government initiatives, technological advances, and growing popularity of STEM-based education will fuel the growth of the market.
Covid-19 has accelerated the adoption of online learning which in turn will increase the growth of the market.
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TRENDS INFLUENCING THE GLOBAL K12 EDUCATION MARKET
Several government initiatives are being undertaken to improve the quality of education at the k12 level across the world. Policies are being introduced to modernize the sector with private player participation and investment. This will boost the growth of the K12 education market in the coming years. For instance, Saudi Arabia in its Vision 2030 aims to increase the share of private education by allowing foreign business ownership. This is being done to ease the ownership restrictions on foreign firms thereby attracting global K1 providers.
Rapid technological innovations have increased the popularity of learning analytics in the educational industry. This allows educational institutions to offer a personalized form of learning. Artificial intelligence fuels the adoption of digital education systems. It provides customized content based on student profiles, performance, and active behavior. Hence institutes are actively investing in virtual learning models which in turn will drive the growth of the K12 education market during the forecast period. Progress is tracked by producing content in the form of tests, quizzes, and videos. eLearning is flexible, improves student engagement, and can be accessed anytime anywhere. It adapts accordingly to individual learning styles and needs.
The growing job opportunities in science, technology, engineering, and mathematics have increased the popularity of STEM-based education. Hence parents, students, and teachers are placing greater emphasis on basic STEM-based education in schools across the globe. This will surge the growth of the K12 education market in the coming years. Students who successfully score high grades in competitive examinations are able to get admitted to higher educational institutions which provide a clear headway for technical education and better career options.
The sudden emergence of the pandemic has forced schools and other educational institutions to shift to online learning platforms. This has boosted the demand for online K12 education. Elearning and software solutions are providing well-organized enterprise resource planning systems to build improved courses and manage classrooms efficiently. Online platforms create virtual classrooms that enable teachers to manage a large audience without any budget constraints. Students get to have more one-on-one sessions with their teachers.
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K12 EDUCATION MARKET SHARE ANALYSIS
Based on application, the high school segment will grow the highest in the K12 education market share as students are getting responsive to online learning tools and virtual high school curriculum through the use of cutting-edge technologies.
Based on region, Asia-pacific will witness significant growth due to increasing adoption of online learning and rapid transition to eLearning platforms. The growth is being driven by countries such as China, India, Indonesia, etc.
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Key Companies:
- Chungdahm Learning
- Dell
- Educomp Solutions
- Next Education
- SAMSUNG
- TAL Education Group
- Tata Class Edge
- Adobe Systems
- Blackboard
- BenQ
- Cengage Learning
- D2L
- Ellucian
- IBM
- Intel
- Knewton
- Mcmillan Learning
- McGraw-Hill Education
- Microsoft
- Oracle
- Pearson Education
- Promethean World
- Saba Software
- Smart Technologies.
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SIMILAR REPORTS:
- The global K12 Education Learning Management market size is projected to reach USD 3691.6 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.4% during 2022-2028.
- The global K12 Tutoring market size is projected to reach USD 3619.8 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.0% during 2022-2028.
- The global K-12 International Schools market size is projected to reach USD 13560 Million by 2028, from USD 7608.1 Million in 2021, at a CAGR of 8.5% during 2022-2028.
- The global Online K-12 Education market size is projected to reach USD 12930 Million by 2028, from USD 7984 Million in 2021, at a CAGR of 8.3% during 2022-2028.
- The global back-to-school market size was valued at USD 66.1 Billion in 2020 and is projected to reach USD 131.1 Billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
- The global Corporate E-Learning market size was value at USD 22.5 Billion in 2021 and is forecast to reach size of USD 44.6 Billion by 2028 with a CAGR of 10.5% during the forecast period 2022-2028.
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- Digital Education Market to Grow With 33.28% CAGR for 2020-2026
- The global K12 Education Technology market size is projected to reach USD 56490 Million by 2026, from USD 11850 Million in 2019, at a CAGR of 25.0% during 2021-2026.
- The global E-Learning VR Market size is projected to reach USD 300.3 Million by 2028, from USD 65 Million in 2021, at a CAGR of 23.8% during 2022-2028.
- The global corporate learning management system (LMS) market size is projected to reach USD 9296 Million by 2026, from USD 2136.9 million in 2019, at a CAGR of 22.8% during 2021-2027.
- The global Learning Analytics market size is projected to reach USD 9611.6 Million by 2027, from USD 2483.7 Million in 2020, at a CAGR of 20.8% during 2021-2027.
- The global learning management system market size was valued at USD 1.2 Billion in 2020 and is projected to hit USD 3.6 Billion by 2027, at a CAGR of 20.76% from 2020 to 2027.
- The global Mobile Learning market size is projected to reach USD 76520 Million by 2028, from USD 20020 Million in 2021, at a CAGR of 20.6% during 2022-2028.
- The global K-12 Software market size is projected to reach USD 3619.8 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.0% during 2022-2028.
- The global Social and Emotional Learning (SEL) Market size is projected to reach USD 5919.5 Million by 2028, from USD 1735.3 Million in 2021, at a CAGR of 18.8% during 2022-2028.
- The global Online Language Learning market size is projected to reach USD 31250 Million by 2027, from USD 9667 Million in 2020, at a CAGR of 18.1% during 2021-2027.
- The global Game-based Learning market size is projected to reach USD 18120 Million by 2028, from USD 5715.2 Million in 2021, at a CAGR of 17.3% during 2022-2028.
- The Global Digital Badges Market was valued at USD 118.9 million in 2021 which is expected to reach 365.1 million by 2028 at a CAGR of 17.1% from 2022-2028.
- The global EdTech market size was valued at USD 85 Billion in 2021, it is expected to reach over 230 Billion U.S. dollars by 2028, growing at a CAGR of 15% during 2022-2028.
- The global Education Technology and Smart Classroom market size is projected to reach USD 239900 Million by 2028, from USD 92870 Million in 2021, at a CAGR of 14.3% during 2022-2028.
- The global Smart Education and Learning market size is projected to reach USD 730500 Million by 2027, from USD 281680 Million in 2020, at a CAGR of 14.1% during 2021-2027.
- The global Smart Education market size is projected to reach USD 61.7 Billion by 2027, from USD 24.8 Billion in 2020, at a CAGR of 13.9% during 2021-2027.
- The global Education Software market size is projected to reach USD 6735.9 Million by 2026, from USD 3244.4 Million in 2019, at a CAGR of 11.0% during 2021-2026.
- The 2021 global e-learning market revenue is about USD 15,000 Million. The expected CAGR of 2021-2028 is 6.5%.
- The global Virtual Classroom market size is projected to reach USD 16020 Million by 2027, from USD 8602.8 Million in 2020, at a CAGR of 9.2% during 2021-2027.
- The global Education ERP market size is projected to reach USD 15470 Million by 2027, from USD 8397.9 Million in 2020, at a CAGR of 9.0% during 2021-2027.
- In 2021, the global Private Tutoring market size will be USD 236 Million and it is expected to reach USD 391.5 Million by the end of 2027, with a CAGR of 8.8% during 2021-2027.
- The medical education market size was valued at USD 74.5 Billion in 2020 and is projected to reach USD 122.8 Billion by 2027 at a CAGR 7.60%.
- The global interactive whiteboard (IWB) market size was valued at USD 4.29 Billion in 2020, and is projected to reach USD 7.35 Billion by 2030 to register a CAGR of 6.0% from 2021 to 2030.
- The global School and Campus Security market size is projected to reach USD 2940.3 Million by 2027, from USD 1389.8 Million in 2020, at a CAGR of 11.2% during 2021-2027.
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