PUBLISHER: The Business Research Company | PRODUCT CODE: 1526998
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526998
K-12 education covers the educational journey spanning from kindergarten through 12th grade, catering to children and adolescents typically aged 5 to 18. This phase serves as the cornerstone of formal education, aiming to equip students with foundational knowledge and skills essential for higher education, employment, and civic engagement. It encompasses the development of academic proficiency, social aptitude, and personal growth.
The primary forms of K12 education include public, private, and online options. Public K-12 education denotes the government-funded system offering free schooling from kindergarten through 12th grade, with curricular options such as core curriculum, advanced placement, international baccalaureate, and vocational education. Spending analysis typically involves categorizing expenditures into hardware, software, and other areas. Deployment modes, such as cloud and on-premise, are utilized across various educational stages, including pre-primary, primary, middle, and high school.
The K-12 education market research report is one of a series of new reports from The Business Research Company that provides K-12 education market statistics, including K-12 education industry global market size, regional shares, competitors with a K-12 education market share, detailed K-12 education market segments, market trends, and opportunities, and any further data you may need to thrive in the K-12 education industry. This K-12 education 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 K-12 education market size has grown rapidly in recent years. It will grow from $114.57 billion in 2023 to $130.6 billion in 2024 at a compound annual growth rate (CAGR) of 14%. The growth experienced in the historical period can be credited to augmented government funding, the implementation of standardized testing and accountability measures, the emergence of technology-driven learning, an upsurge in income levels, and a greater adoption of software tool-based education.
The K-12 education market size is expected to see rapid growth in the next few years. It will grow to $221.46 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. Forecasted period, growth can be attributed to the escalating utilization of learning analytics within the educational domain, rising demands for high-quality education, the continuous increase in global population and subsequent expansion, the heightened integration of digital systems, and the proliferation of technological solutions. Notable trends anticipated in the forecast period comprise the emergence of e-learning platforms, the prevalence of hybrid and blended learning models, ongoing technological advancements, the evolution of educational philosophies, and an increasing emphasis on equity and student well-being.
The rise in popularity of online learning is expected to drive growth in the K-12 education market. Online learning, facilitated over the Internet, allows students to access educational materials and engage in remote learning activities without the need for a traditional classroom setting. With the widespread availability of high-speed internet and digital devices, online learning platforms have gained traction in K-12 education. This approach offers flexibility and accessibility, complementing traditional classroom instruction and providing tailored learning opportunities for students. For example, Eurostat reported a 2-point increase in EU users accessing online education and courses in January 2024, reaching 30%, up from 28% in 2022, indicating the growing influence of online learning on the market.
Key players in the K-12 education sector are embracing personalized learning technologies, such as virtual education platforms, to enhance individualized instruction and student engagement. These platforms serve as online tools, facilitating remote learning by offering digital resources, interactive lessons, and communication tools for students, teachers, and parents. Athena Global Technologies, for instance, launched Tutoroot in July 2021, an educational technology platform and training service for K-12 students. As part of its CSR initiative, it provides a free certificate program on virtual teaching for teachers, aiming to equip them with essential skills for online instruction through its "Train the Teacher" program. This program includes 12 sessions with hands-on projects and online tests to ensure teachers attain certification by meeting minimum criteria in technical skills, presentation skills, and online presence quality.
In March 2023, LEAD, an India-based Edtech company, acquired a K-12 learning business in India from Pearson India Education Services Private Limited, expanding its product portfolio. This acquisition will enable LEAD to address the diverse learning needs of affordable private schools in smaller towns and high-fee private schools in larger cities. Pearson India Education Services Private Limited specializes in K-12 learning solutions.
Major companies operating in the K12 education market are Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Amazon Web Services (AWS), International Business Machines Corporation (IBM), Oracle Corporation, Adobe Inc., Pearson plc, McGraw-Hill Education Inc., Stride Inc. ( K12 Inc.), Cengage Learning Inc. (Cengage Group), TAL Education Group, Blackboard Inc., Coursera Inc., SMART Technologies ULC, D2L Corporation, Finalsite LLC, Tata ClassEdge, Clever Inc., Bettermarks GmbH, Minerva Project Inc.
North America was the largest region in the K-12 education market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the K12 education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the K12 education market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The K-12 education market consists of revenues earned by entities through support services, technology services, special education services, and parental and community involvement. The market value includes the value of related goods sold by the service provider or included within the service offering. The K-12 education market also includes sales of digital learning tools, technology hardware, and assessment tools. 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.
K12 Education 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 K12 education 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 K12 education ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The K12 education 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.