PUBLISHER: Allied Market Research | PRODUCT CODE: 1566846
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566846
Virtual Schools Market
The virtual schools market was valued at $11.3 billion in 2023 and is projected to reach $20.6 billion by 2032, growing at a CAGR of 7.2% from 2024 to 2032.
Virtual schools are the institutions that operate entirely over the internet. Students receive education remotely by having real interaction with the teachers. Online schools offer diverse education programs, from elementary & high school curricula to vocational trainings or advanced placement & college-level classes. The major benefits of online schools include flexible scheduling, personalized learning methods, and access to a wide range of educational resources.
Rise in technological advancements has augmented the growth of the virtual schools market due to the flexibility and convenience of learning such schools offer. Learning management systems and innovative educational software are the key attributes attracting students to enroll in online schools. In addition, online schools are gaining significant popularity due to their cost-effectiveness. Families are able to reduce their educational expenses due to the elimination of transportation costs and prices associated with physical materials, lowering the tuition fees significantly. To enhance personalization and elevate the immersive experience, the integration of AI and gamification technologies is an emerging trend poised to prevail in the future. These advanced technologies possess the ability to revolutionize the learning experiences of students and enhance their critical thinking abilities.
However, the assimilation of innovative technologies raises the fee structure of virtual schools, restricting the low-income families from investing in them. This limits the expansion of the virtual schools market. Moreover, online education hinders the social interaction of students, affecting their social & emotional development. This deters several students from enrolling in virtual schools, hampering the market growth. According to the 2024 online learning statistics by Forbes, as compared to 75% of the total students in the U.S. enrolling for distance education in 2020, only 54% students chose online learning in 2022. Despite the reducing figures, Forbes predicts the online education industry to grow by 20.5% by the year 2030.
Segment Review
The virtual schools market is segmented into type, end user, and region. On the basis of type, the market is bifurcated into profit EMOs and non-profit EMOs. Depending on end user, it is divided into elementary schools, middle schools, high schools, and post secondary. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Key Findings
On the basis of type, the profit EMOs segment held the highest market share in 2023.
Depending on end user, the high schools segment was the major shareholder in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition Analysis
The leading players operating in the global virtual schools market include Pansophic Learning, Mosaica Education, Inc., Pearson Education, Inc., Florida Virtual School, Stride, Inc., Brigham Young University, American Virtual Academy, Stanford University, Coursera Inc., and edX LLC. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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