PUBLISHER: The Business Research Company | PRODUCT CODE: 1526999
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526999
K-12 education technology encompasses digital tools, resources, and platforms designed to support teaching, learning, and administrative tasks in primary and secondary education. It involves integrating digital resources into educational processes within these settings.
The main categories of K-12 education technology include hardware, solutions, software, support services, learning content management systems (LCMS), learning management systems (LMS), learning content development systems (LCDS), assessment systems, student response systems (SRS), and others. Hardware refers to the physical components such as CPUs, memory, motherboards, and storage devices. The technology also covers educational gaming, analytics, enterprise resource planning (ERP), security, and dashboards. These tools can be used online or offline across various educational levels, including pre-primary, primary, middle, and high schools.
The K12 education technology market research report is one of a series of new reports from The Business Research Company that provides K12 education technology market statistics, including the K12 education technology industry global market size, regional shares, competitors with the K12 education technology market share, detailed K12 education technology market segments, market trends, and opportunities, and any further data you may need to thrive in the K12 education technology industry. These K12 education technology market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The K12 education technology market size has grown exponentially in recent years. It will grow from $20.02 billion in 2023 to $25.60 billion in 2024 at a compound annual growth rate (CAGR) of 27.9%. The growth in the historic period can be attributed to several key factors, including the advent of personal computers, the widespread availability of the internet and the development of the World Wide Web, the increasing use of smartphones, the emergence of cloud computing technology, and the introduction of interactive whiteboards in educational settings.
The K12 education technology market size is expected to see exponential growth in the next few years. It will grow to $68.77 billion in 2028 at a compound annual growth rate (CAGR) of 28.0%. The forecast period's growth can be attributed to heightened investment in education technology, a rising demand for personalized learning solutions, a shift towards remote and hybrid learning models, increased adoption of gamified learning platforms, and a surge in startups and innovative ventures in the sector. Major trends expected in this period include the integration of artificial intelligence, an expansion of online and blended learning approaches, a growth trajectory in gamification, the incorporation of coding and STEM education, and advancements in cloud-based solutions.
Government involvement in enhancing the education system is poised to drive the growth of the K-12 education technology market in the future. The educational system encompasses institutions, policies, and practices geared towards facilitating learning and development within a society. The increasing government engagement in education reflects a growing acknowledgment of education's pivotal role in national progress, economic competitiveness, and social equality. Government participation in K-12 educational technology is aimed at ensuring fair access, fostering innovation, and improving digital literacy among students across the country. For example, as reported by GOV.UK in December 2023, funding for each primary student needing additional support will rise to $1,881, and for secondary students, it will be $135 in the years 2024-25, marking a 10% increase from 2021-22. In total, schools will receive over $3.69 billion to aid students in disadvantaged areas in achieving better educational outcomes. Consequently, government involvement in enhancing the education system is propelling the expansion of the K-12 education technology market.
Key players in the K-12 education technology market are concentrating on innovative developments, such as educational technology platforms, to better cater to their clientele. An educational technology platform refers to digital solutions or software designed to enhance teaching and learning experiences for K-12 students and educators in primary and secondary schools. For instance, in July 2021, Athena Global Technologies, an India-based software applications provider, launched Tutoroot, an educational technology platform and training service for K-12 students. Tutoroot offers personalized learning and one-on-one tuition classes for students from grades 8 to 12, featuring live classes with expert tutors, flexible scheduling, and regular assessments to monitor student progress. It covers a wide range of subjects, including mathematics, physics, chemistry, and biological sciences, aiming to provide a comprehensive learning experience.
In January 2022, PowerSchool, a US-based provider of innovative K-12 software and cloud-based solutions, acquired Kinvolved, a provider of K-12 communication, attendance, and engagement software, for an undisclosed amount. This acquisition was intended to enhance and streamline school-home communications, boost engagement, and reduce absenteeism.
Major companies operating in the K12 education technology market are Apple Inc., Google LLC, Samsung Electronics Co Ltd, Microsoft Corporation, International Business Machines (IBM) Corporation, Pearson plc, TAL Education Group, VIPKID, Sanoma, BlackBoard, BYJU'S, PowerSchool, Acro Platform Ltd, Chungdahm Learning, Tata Class Edge, Learnosity, Illuminate Education, iTutorGroup, Educomp Solutions Limited (ESL), Kroton Educacional SA, D2L Corporation, Toppr
North America was the largest region in the K12 education technology market in 2023. The regions covered in the K12 education technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the K12 education technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The K12 education technology market consists of revenues earned by entities by providing services such as professional development, support, and training. The market value includes the value of related goods sold by the service provider or included within the service offering. The K12 education technology market also includes sales of learning management systems, virtual reality (VR) and augmented reality (AR) tools, and analytics 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 Technology 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 K-12 education technology 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 K-12 education technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The K-12 education technology 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.
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