PUBLISHER: The Business Research Company | PRODUCT CODE: 1409723
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409723
“Primary School Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on primary school market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for primary school? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The primary school market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A primary school is an educational institution where children acquire fundamental skills necessary to prepare them for life, employment, and active citizenship. It typically includes the initial year of formal education, which may consist of kindergarten in some countries or the first grade in others. Primary school provides academic courses and related coursework to elementary school students, covering grades from kindergarten through fifth grade.
The main types of primary schools include public, private, and online institutions. Public schools are those that teach students at the secondary level for a fee, maintaining financial and administrative independence from the public education system. Primary schools may operate through different deployment modes, such as cloud-based or on-premise systems. The fee structures for primary schools vary and can be categorized as low-income, medium-income, or high-income.
The primary school market research report is one of a series of new reports from The Business Research Company that provides primary school market statistics, including primary school industry global market size, regional shares, competitors with a primary school market share, detailed primary school market segments, market trends and opportunities, and any further data you may need to thrive in the primary school industry. This primary school market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The primary school market size has grown strongly in recent years. It will grow from $719.16 billion in 2023 to $790.51 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth observed in the historical period can be attributed to factors such as population growth, government education policies, the societal importance placed on education, trends in urbanization, and economic development.
The primary school market size is expected to see strong growth in the next few years. It will grow to $1132.57 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period can be attributed to global education goals, increased government investments in education, heightened societal awareness of the benefits of education, the integration of technology in educational processes, and demographic changes. Major trends expected in the forecast period include the emphasis on social and emotional learning (SEL), global citizenship education, the adoption of hybrid learning models, innovation in assessment methods, increased focus on parental involvement and communication, and a heightened emphasis on well-being and mental health in education.
The growth of the primary school market is anticipated to be propelled by government initiatives and schemes supporting education. These initiatives aim to enhance school accessibility, provide financial support, focus on teacher training, offer free education programs, invest in infrastructure development, integrate technology, promote inclusive education, implement nutrition programs, enforce quality standards, and engage communities. Collectively, these efforts create a favorable environment for the expansion and improvement of the primary education sector. For example, the Right of Children to Free and Compulsory Education (RTE) Act, 2009, implemented in India since April 1, 2010, establishes the fundamental right of children aged six to fourteen years to receive free and compulsory elementary education in a formal school. Consequently, government initiatives and schemes are drivers of the primary school market's growth.
The increasing awareness of education among the populace is expected to drive the growth of the primary school market. Heightened awareness leads to higher enrollment rates, fostering a demand for quality education, emphasizing the significance of early childhood education, recognizing the link between education and economic opportunities, and encouraging community engagement. In the fiscal year 2022, according to the Ministry of Education in India, school enrollment reached 265 million children, with an additional 1.94 million children enrolled in Primary to Higher Secondary levels. The total enrollment of Children with Special Needs (CWSN) in FY22 reached 2.27 million, reflecting a 3.3% increase compared to 2.19 million in FY21. Thus, increasing awareness about education is a driving force behind the growth of the primary school market.
Technological advancement emerges as a key trend gaining popularity in the primary school market. Major companies in the primary school market are concentrating on developing new technological solutions to strengthen their positions. For instance, in May 2022, Tata Class Edge, an India-based company, and the Furtados School of Music, an India-based music company, collaborated to enhance the educational experience in schools through the use of technology and music. This collaboration aims to increase the accessibility of music teaching techniques by combining the expertise and resources of TATA Class Edge in the K-12 educational industry with Furtados School of Music.
Major companies in the primary school market are developing new curricula to secure a competitive edge. Curriculum refers to the planned set of courses, content, and learning experiences designed to achieve specific educational goals or outcomes. For instance, in February 2022, Billabong High International School, an India-based educational institution, launched a revamped primary school curriculum called BHIS 2.0. This curriculum focuses on four core pillars, Design thinking, Social-emotional learning, 21st-century skills, and Enquiry-based learning. BHIS 2.0 aims to provide early exposure to 21st-century skills, global perspectives, and innovative problem-solving methods, aligning with the school's goal to foster independent and confident thinking among students. The curriculum also introduces a new digital learning ecosystem, 'ARGUS,' emphasizing personalized learning and meaningful engagement in line with the New Education Policy.
In November 2021, McGraw Hill, a US-based educational publishing company, acquired Achieve3000 for an undisclosed amount. This acquisition combines Achieve3000's supplemental and intervention solutions with McGraw-Hill's extensive range of PreK-12 products, offering a more comprehensive selection of digital learning tools to aid teachers, engage students, and improve learning outcomes. Achieve3000, a US-based company, provides diversified online education options for mainstream students in school.
Major companies operating in the primary school market report are Pearson plc, Cengage Learning India Pvt. Ltd., Stride Inc., Blackboard Inc., Tata Class Edge, D2L Corporation, NextEducation India Pvt. Ltd., TAL Education Group, Hailiang Education Group, Bright Horizon, Whitehill Primary School, Briar Hill Primary School, Gascoigne Primary School, Deanshanger Primary School, William Davies Primary School, McGraw-Hill Education, Houghton Mifflin Harcourt, Educomp Solutions Ltd., Scholastic Corporation, Benesse Corporation, GEMS Education, Nord Anglia Education, Kumon Institute of Education, The Learning Experience, Zaner-Bloser Inc., Educational Initiatives Pvt. Ltd., K12 Inc., Laureate Education Inc., Ambow Education Holding Ltd., Primrose Schools .
Asia-Pacific was the largest region in the primary school market in 2023 and is expected to be the fastest-growing region in the primary school market report during the forecast period. The regions covered in the primary school market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the primary school market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary school market consists of revenues earned by entities by providing education in junior school, elementary school, or grade school. The market value includes the value of related goods sold by the service provider or included within the service offering. The primary school market also includes sales of tablet and laptop which are used in providing educational services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.