NEW YORK, July 17, 2023 /PRNewswire/ -- According to Facts and Factors, the global K12 Education market size was worth around USD 107.21 billion in 2021 and is predicted to grow to around USD 324.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 20.15% during the forecast period (2022- 2030).
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K12 Education Market: Overview
K12 education refers to the kindergarten to the 12th-grade education system in the US and many other parts of the world like India, Canada, Australia, China, South Korea, Iran, Philippines, and Afghanistan amongst others. It is an expression used to indicate the number of educational years that are publicly supported including primary and secondary education. K12 education which starts from pre-primary grade and ends at the 12th grade is for students within the age group of 5 to 18 years with the first age group corresponding to the first grade and the last age group belonging to the last education grade.
In public schools, K12 education is free whereas, in private schools or state-affiliated education, centers charge a nominal amount for conducting classes. In Australia, K12 is sometimes referred to as P-12, especially in Queensland. The p-12 curriculum caters to the education needs of students for 13 years starting from prep and ending at the 12th grade.
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Key Industry Insights & Findings of the K12 Education Market Reports:
- As per the analysis, the K12 Education market share is likely to grow above a CAGR of around 20.15% between 2022 and 2030.
- The K12 Education market size was worth around USD 107.21 billion in 2021 and is estimated to hit approximately USD 324.5 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The market is projected to grow at a significant rate due to the growing incorporation of technological systems for knowledge transfer
- Based on application segmentation, high school was predicted to show maximum market share in the year 2021
- Based on type segmentation, public school was the leading type in 2021
- On the basis of region, North America was the leading revenue generator in 2021.
Facts and Factors published the latest report titled "K12 Education Market Size, Share, Growth Analysis Report By Application (Pre-Primary School, Primary School, Middle School, and High School), By Deployment (On-Premises and Cloud), By Type (Public & Private), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" into their research database.
K12 Education Market: Growth Drivers
The global K12 education market is projected to reach surging heights due to factors like growing employment rates with the rising number of dual-income families allowing them access to higher disposable income to be spent on the child's education. Another important social factor is the declining number of children per couple where many urban and rural couples voluntarily choose to have no more than 2 children. Such factors are beneficial for the overall economic health of the family as they can ultimately concentrate on the well-being of limited people.
Further, the growth in the online learning segment encouraged by rising access to digital devices like smartphones, laptops, tablets, and personal computers may add to the global market revenue during the forecast period. Many state governments run several initiatives to attract more students to public school systems, especially for the underprivileged section of the regional population. These activities are undertaken by various non-governmental organizations (NGOs) as well. For instance, the Akshaya Patra Foundation is an NGO that works toward providing nutritious food to school children in public schools to combat child malnutrition and also act as a means for attracting more students.
K12 Education Market: Restraints
The global market growth may face limitations due to the ongoing political turmoil and war-like situations in various parts of the world that not only impact the overall regional economy but has also affected the lives and futures of millions of children caused by the demolition of schools or other educational centers and the displacement of families.
For instance, since 15th August 2021, the Taliban government in Afghanistan has completely banned the entry of female students into schools or colleges. Other factors like the rising poverty rate in under-developed countries, growing corruption in the education system, and issues related to child's physical and mental safety could lead to further decline in the global market.
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Global K12 Education Market: Segmentation Analysis
The global K12 education market is segmented based on application, deployment, type, and region
Based on deployment, the global market is segmented into on-premises and cloud
- In 2021, the global market registered the highest growth in the on-premises segment with the cloud segment following with marginal differences
- Covid-19 resulted in a sudden surge in the online learning segment with almost all educational institutes making use of digital medium for conducting classes which have also helped in reaching a higher number of students even in remote areas
- However, various reports have concluded that students as well as parents prefer face-to-face classes. A survey by Healthline reported that nearly 18% of the students preferred the hybrid model
Based on application, the global market is divided into pre-primary school, primary school, middle school, and high school.
Based on type, the global market is divided into public and private
- The global market registered the highest growth in the public-school segment since many countries provide free education until 12 standards
- Although in certain countries like India, most parents prefer to send their children to private schools that have better amenities and teaching staff than public schools, especially in urban areas that are fast-growing
- India currently has more than 15 lakh private schools
Recent Developments:
- In October 2022, Shiv Nadar Foundation, led by Mr. Shiv Nadar, Founder of HCL which is a global conglomerate, announced the much-anticipated launch of Shiv Nadar School, a chain of K12 schools, in Chennai, India. The education unit is being proclaimed to incorporate international teaching while embodying traditional values
- In March 2022, the Association of Heads of Independent Schools of Australia (AHISA), the representative peak body for principals of Australia's private schools announced the launch of a manifesto containing policies related to school education. The organization called for a strength-based approach toward education instead of deficit-model thinking
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List of Key Players in K12 Education Market:
Some of the main players in the global K12 Education market include;
- Blackboard
- Chungdahm Learning
- Next Education
- Tata Class Edge
- IBM
- BenQ
Key questions answered in this report:
- What is the growth rate forecast and market size for K12 Education Market?
- What are the key driving factors propelling the K12 Education Market forward?
- What are the most important companies in the K12 Education Market Industry?
- What segments does the K12 Education Market cover?
- How can I receive a free copy of the K12 Education Market sample report and company profiles?
Report Scope:
Report Attribute | Report Details |
Market Size in 2021 | USD 107.21 Billion |
Market Forecast in 2030 | USD 324.5 Billion |
Growth Rate | CAGR of 20.15% |
Base Year | 2021 |
Forecast Years | 2022- 2030 |
Key Companies Covered | Blackboard, Chungdahm Learning, Next Education, Tata Class Edge, IBM, BenQ, and others. |
Segments Covered | By Application, Deployment, Type, and Region |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Regional Analysis:
North America is anticipated to lead the global K12 education market owing to the increased funding received by the public-school segment which offers free educational programs to the students. In 2021, the US government spent more than USD 260 billion on education. Growth in Asia-Pacific is projected to be led by the rising number of private K12 centers offering courses across price ranges allowing low-income or medium-income families to spend on their child's education.
Furthermore, factors like the increasing entry rate of international players and strategic collaborations amongst existing private colleges with technology companies to introduce advanced systems in the curriculum as well as the rise in the number of state-affiliated centers could drive regional growth.
Global K12 Education Market is segmented as follows:
By Application
- Pre-Primary School
- Primary School
- Middle School
- High School
By Deployment
- On-Premises
- Cloud
By Type
- Public
- Private
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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