Farmington, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Global K-12 Education Market was valued at USD 8 Billion in 2022 and is anticipated to reach USD 94.7 Billion by 2030, expanding at a CAGR of 31.6% during the forecast period, between 2022 and 2030. Schools are moving away from the traditional blackboard method and putting smart technology into the learning environment. This is what drives the market. Learning trends include a wide range of activities, tools, and services that are designed to help students do better in school.
As the number of jobs in science, technology, engineering, and math (STEM) has grown, so has the demand for STEM education. Students who do well on competitive tests are accepted into colleges and universities. Because of this, parents, students, and other stakeholders around the world stress basic STEM education in schools.
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Recent Developments:
- In January 2022 - Pearson announced the acquisition of Credly, a leading provider of digital workforce credentials. The acquisition of Credly, in which Pearson has already invested nearly 20%, will strengthen the company's position in workforce technology by adding sophisticated credential services to its workforce analytics, learning and assessment capabilities.
- In November 2021 - McGraw Hill completed the previously announced acquisition of Achieve3000, recognized as a pioneer in accelerating individualized teaching and learning for PreK-12 students in all 50 states and 48 countries. This enables McGraw Hill to offer a wide range of exceptional digital learning solutions that support teachers, engage students and improve learning outcomes.
Regional Outlook:
In Asia-Pacific, the K-12 education market is growing quickly because online learning is being used by millions of students. Several countries are putting all of their K–12 lessons online. Most of the growth comes from places like China, India, Indonesia, and Malaysia.
The effects of these repeated school closings are very bad, including a loss of learning and emotional stress. Children who miss school lunches and routine immunisations are more likely to drop out of school. more children working and more children getting married. According to the report, Asia will need to increase its education budget by an average of 10% to make up for this loss if it wants to meet the education goals of the UN 2030 Agenda's Sustainable Development Goals within the next nine years. In these hard times, the government and both public and private institutions have had to invest in new educational technology to keep the flow of knowledge going.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 31.6% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 94.7 Billion |
| By Type | Public K-12 education, Private K-12 education, Online K-12 Education, Other |
| By Application | Pre-primary School, Primary School, Middle School, High School, Other |
| By Service Providers | Ed-tech companies, Educational Institutions, Others |
| By Method | Blended/instructor-led training, Computer/web-based training, Textbooks/self-study material, Video/audio recording, Simulation-based training, Other |
| By 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 |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Trends, Drivers, Restraints, and Opportunities:
- During the period of the forecast, technologies like robots that can be used to teach are expected to drive the K-12 education market.
- The market is growing because more and more high-quality online education systems are becoming available to more and more people.
- Government efforts to improve the quality of K–12 education around the world are likely to drive the global K–12 education market.
- During the pandemic, there were a lot of sick students who couldn't go to school. This hurt the market for K–12 schools.
- Because the COVID-19 outbreak slowed down the market, it was hard for educational institutions to make money.
- Players in the K–12 education market have a chance to grow if they use new trends in education that help students learn more. When schools and online platforms work together, it gives education systems all over the world more chances to do good things.
Key Segments Covered:
Top Market Players:
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, and others.
By Type
- Public K-12 education
- Private K-12 education
- Online K-12 Education
- Other
By Application
- Pre-primary School
- Primary School
- Middle School
- High School
- Others
By Service Providers
- Ed-tech companies
- Educational Institutions
- Others
By Method
- Blended/instructor-led training
- Computer/web-based training
- Textbooks/self-study material
- Video/audio recording
- Simulation-based training
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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