PUBLISHER: The Business Research Company | PRODUCT CODE: 1527006
PUBLISHER: The Business Research Company | PRODUCT CODE: 1527006
K-12 textbooks serve as educational resources tailored for students from kindergarten through 12th grade, offering structured content spanning multiple subjects and grade levels. These materials are crucial for educators to deliver curriculum-aligned lessons, encompassing areas such as mathematics, science, language arts, and social studies, thus aiding students' academic progress and learning.
The primary formats of K-12 textbooks are printed and digital versions. Printed textbooks, also referred to as traditional textbooks, are physical books made of paper, offering in-depth coverage of topics, comprehensive content, high-quality visuals, and exercises for practice. They are accessible at various educational levels, including primary, secondary, and upper secondary, and are distributed through channels such as educational institutions, physical stores, and online retailers.
The K-12 textbook market research report is one of a series of new reports from The Business Research Company that provides K-12 textbook market statistics, including the K-12 textbook industry global market size, regional shares, competitors with the K-12 textbook market share, detailed K-12 textbook market segments, market trends, and opportunities, and any further data you may need to thrive in the K-12 textbook industry. These K-12 textbook 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 K-12 textbook market size has grown exponentially in recent years. It will grow from $130.95 billion in 2023 to $161.88 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth observed during the historic period can be ascribed to significant legislative changes and educational reforms, the emergence of standardized testing, government allocations and grants for education, augmented expenditure on educational initiatives, and the expanding student demographics.
The K-12 textbook market size is expected to see exponential growth in the next few years. It will grow to $379.81 billion in 2028 at a compound annual growth rate (CAGR) of 23.8%. The anticipated growth in the forecast period can be credited to the integration of digital learning tools and e-books, the emphasis on STEM education, the expanding use of digital textbooks, the heightened desire for tailored learning experiences, and the growing need for supplementary educational resources. Key trends projected for this period encompass advancements in educational technology, the fusion of digital textbooks with online platforms, progress in STEM education, the incorporation of augmented reality (AR) and virtual reality (VR), and the creation of customizable textbooks.
The growth of the K-12 textbook market is expected to be driven by the increasing demand for educational services. Educational services encompass various offerings provided by public or private entities to impart instruction-based learning on diverse subjects to students or individuals. Given the rapid pace of technological advancements, individuals need to continually acquire new skills and knowledge, necessitating lifelong learning opportunities such as vocational training, development courses, and online education. K-12 textbooks are typically designed in accordance with state or national educational standards, ensuring that the content aligns with prescribed learning objectives and expectations for each grade level. For instance, in October 2021, the U.S. Census Bureau reported that total U.S. elementary and secondary school revenue reached $584.9 billion in F.Y. 2020, indicating a 2.2% increase from $572.5 billion. This uptrend in demand for educational services is anticipated to propel the K-12 textbook market forward.
Key players in the K-12 textbook market are concentrating on creating curated resources to bolster English language arts (ELA) instruction in K-12 classrooms, aiming to enhance their competitive position. Curated resources entail educational materials that have been thoughtfully selected, organized, and presented to support teaching and learning in K-12 settings. For example, in July 2021, Newsela, a UK-based provider of K-12 instructional content platforms, introduced an expanded Novel and Book Studies Collection. This collection offers curated, leveled content to complement over 120 commonly taught books, novels, and dramas. It caters to elementary, middle, and high school English Language Arts instruction and encompasses author biographies, reference materials, speeches, book reviews, and modern retellings, all intended to deepen student understanding, establish thematic connections, and extend learning opportunities.
In August 2021, Platinum Equity LLC, a U.S.-based private equity investment firm, completed the acquisition of McGraw-Hill Education for $4.5 billion. The acquisition was aimed at driving growth and fostering innovation in the education sector by leveraging McGraw Hill's esteemed brand, superior content, and digital platforms. McGraw-Hill Education, a U.S.-based K-12 textbook publishing company, offers educational content, software, and services spanning from PreK-12 to postgraduate education.
Major companies operating in the K-12 textbook market are Pearson plc, Harper Collins Publishers, John Wiley And Sons Inc., Stride Inc., Scholastic Corporation, Cengage Learning, Houghton Mifflin Harcourt, McGraw-Hill Education, Blackboard Education, Edmentum Holdings Inc., Renaissance Learning Inc., Imagine Learning LLC, Discovery Education, Teacher Created Materials, OverDrive Education, Savvas Learning Company, Goodheart Willcox Co. Inc., Kno Inc, Big Ideas Learning LLC, The Critical Thinking Company, LightSail Education, BookShare, LearnZillion Inc., Simba Information
Europe was the largest region in the K-12 textbook market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the K-12 textbook market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the K-12 textbook market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The K-12 textbooks market consists of sales of workbooks, customized learning materials, printed textbooks to support teaching and learning in K-12 classrooms. 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.
K-12 Textbook 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 textbook 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 textbook ? 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 textbook 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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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.