PUBLISHER: The Business Research Company | PRODUCT CODE: 1596080
PUBLISHER: The Business Research Company | PRODUCT CODE: 1596080
STEM (Science, Technology, Engineering and Mathematics) education in K-12 refers to the specialized curriculum and instructional approaches designed to teach students in these four subject areas from kindergarten through 12th grade. STEM education aims to foster critical thinking, creativity and problem-solving skills among students by connecting academic concepts with real-world applications.
The STEM education in K-12 market consists of sales, by entities (organizations, sole traders and partnerships) of educational services such as STEM education in K-12 that are used within classrooms, in after-school programs, or at home. They are employed in a range of learning environments, including public and private schools, tutoring centers, summer camps and increasingly, virtual settings.
The global STEM education in k-12 market was valued at $24,590.00 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 9.00%.
Rising Demand For Online Education
The rising demand for online education propelled the growth of the STEM education in K-12 market in the historic period. The demand for online education increased because of its flexibility, accessibility and quality of remote learning options, driven by technological advancements and evolving learning needs. STEM education often involves using interactive tools and technologies, such as virtual labs, simulations and coding platforms that make online learning more engaging and hands-on, helping students understand complex concepts through practical application and experimentation. For instance, in January 2022, according to the World Economic Forum, a Switzerland-based non-governmental organization, online education enrollment figures surged in 2020, more than doubling, and then experienced another substantial increase of 32% the subsequent year, reaching a peak of 189 million in 2021. Therefore, the rising demand for online education drove the growth of the STEM education in K-12 market.
Expansion Of Offline Learning Centers
Companies in the STEM education in K-12 market are expanding offline learning centers to cater to the increasing demand for in-person learning options. For example, in April 2024, Spark Education, a Singapore-based company renowned for providing high-quality educational experiences for students aged 3-12, inaugurated its first offline learning center in Melbourne, Australia. This launch marks a significant milestone in Spark's global expansion as a leading STEM education provider. Through this initiative, Spark aims to foster a passion for learning among young students and enhance their educational journeys with innovative courses, such as Spark Math and Spark Chinese. The new center is strategically situated in Balwyn, an area recognized for its strong educational community, underscoring Spark's commitment to delivering exceptional education, while addressing the increasing demand for in-person learning options in the post-pandemic landscape.
The global STEM education in K-12 market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 13.3% of the total market in 2023.
STEM Education In K-12 Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global STEM education in K-12 market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for STEM education in K-12? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The STEM education in K-12 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 history and forecasts market growth by geography. It places the market within the context of the wider STEM education in K-12 market; and compares it with other markets.