PORTLAND, Ore., Jan. 11, 2022
Rise in level of competition among students, increased preferences for in-person learning, and surge in investments on education drive the growth of the global In-Person learning market.
PORTLAND, Ore., Jan. 11, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "In-Person Learning Market by Course Type (Academics, Arts, Sports and Other training), Application (At-home Teaching and Cram School) and End User (Pre-School Children, Middle School Students, High School Students and College Students): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global in-person learning industry generated $17.91 billion in 2020, and is anticipated to generate $74.16 billion by 2030, witnessing a CAGR of 10.0% from 2021 to 2030.
Prime determinants of growth
Rise in level of competition among students, increased preferences for in-person learning, and surge in investments on education drive the growth of the global in-person learning market. However,high fees of private coaching centers and upsurge in virtual teaching and learning hinder the market growth. On the other hand, security and privacy concerns regarding virtual learning present new opportunities in the coming years.
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The academicssegment to maintain its leadership status throughout the forecast period
Based on course type, the academics segment held the highest market share in 2020, accounting for nearly two-thirds of the global in-person learning market, and is estimated to maintain its leadership status throughout the forecast period. To achieve good grades and increase performance in school and college, academics are likely to motivate students to have extra private coaching. Furthermore, most of the students find mathematics, science, and English subjects very difficult so they demand for extra coaching, which in turn,favors the in-person learning. However, the arts segment is projected to manifest the highest CAGR of 11.4% from 2021 to 2030. High disposable income and availability of convenient learning opportunities and facilities with online and smart learning solutions have witnessed significant demand for this segment and this demand is expected to increase during the forecast period.
The cram school segment to maintain its lead position during the forecast period
Based on application, the cram schoolsegment accounted for the largest share in 2020, contributing to more thanfour-fifths of the global in-person learning market, and is projected to maintain its lead position during the forecast period. This is due to deficiency in public school systems. However, the at-home teaching segment is expected to portray the largest CAGR of 10.9% from 2021 to 2030. Frequency of students seeking at-home learning has increased, which in turn, created plenty of opportunities for companies.
Asia-Pacific, followed by Europe &North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by Europe & North America held the highest market share in terms of revenue in 2020, accounting for around one-third of the global in-person learning market. Moreover, the same region is expected to witness the fastest CAGR of 11.4% from 2021 to 2030. Government-funded projects related to literacy development in rural areas throughout Asia-Pacific and other initiatives taken by governments to educate rural students are the major growth drivers of this market. Other regions discussed in the report include North America, Europe, and LAMEA.
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