K-12 Education Market To Rise At Modest Growth With CAGR And Revenue Till 2030|Grand View Research, Inc.

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San Francisco, 02 April 2024: The Report K-12 Education Market Size, Share & Trends Analysis Report By Application (Elementary School (K-5), Middle School (6-8), High School (9-12)), By Institution (Public, Private), By Delivery Mode (Online, Offline), By Region, And Segment Forecasts, 2024 – 2030

The global K-12 education market is anticipated to reach USD 5.66 trillion by 2030 and is anticipated to expand at a CAGR of 12.5% during the forecast period, according to a new report by Grand View Research, Inc. This growth is attributed to technological advancements, such as the integration of EdTech solutions like interactive platforms and AI-powered applications, which enhance learning experiences. Widespread access to digital devices facilitates flexible learning models and promotes digital literacy, even in rural areas. Government initiatives involving increased public spending on education and policies focused on improving educational quality further foster market growth for educational service providers and technology vendors.

Governments worldwide are taking initiatives to increase access to high-quality education and enhance learning outcomes. This includes fostering flexibility and options for students through personalized learning approaches like electives, project-based learning, and blended models. Recognizing the importance of early childhood education, governments invest in pre-K programs. For instance, in April 2022, the U.S. Department of Education announced investments of over USD 220 million from the government and private and public sectors to help students improve academically. The department is utilizing more than USD 160 million of its grant money to help K–12 students across the nation improve their academic performance and mental health.

The competitive landscape in the K-12 education market is dynamic, prompting companies to innovate and employ new growth strategies for market leadership continually. Mergers and acquisitions are prevalent as established players acquire smaller, innovative companies to expand offerings and access emerging technologies. Partnerships and collaborations between educational institutions and edtech companies are on the rise to develop and implement effective learning solutions. Data-driven decision-making is a key focus, with companies using data to understand student behavior, identify learning gaps, and tailor products and services accordingly. Moreover, there is a growing emphasis on personalized learning as providing customized learning experiences becomes increasingly crucial for companies seeking a competitive edge.

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The market growth is driven by the growing adoption of game-based learning, which enhances engagement and motivation among students while fostering personalized learning experiences and developing essential skills such as problem-solving and critical thinking. Moreover, the integration of advanced technologies, such as artificial intelligence, which enables personalized tutoring and real-time feedback, and virtual/augmented reality, creates immersive learning environments. Additionally, there is an increase in government initiatives globally, with a focus on increased funding for K-12 education, STEM education, and the implementation of educational reforms aimed at enhancing teaching methods and overall education quality.

K-12 Education Market Report Highlights

  • The high school segment dominated the market in 2023, representing 47.7% of global revenue. Various edtech solutions, including adaptive learning platforms, virtual reality experiences, and AI-powered career guidance tools, are tailored to meet the unique needs of high school students.
  • Public institutes accounted for the largest market revenue share in 2023 as they receive substantial government funding, playing a major role in sustaining their operations and resources.
  • The offline segment accounted for the largest market revenue share in 2023. Despite the increasing prevalence of online learning, many parents and educators continue to value the tangible benefits of traditional, face-to-face education.
  • North America dominated the market in 2023 owing to the increase in government initiatives concerning expenditures in K-12 education. Moreover, the expanding number of K-12 startups globally is projected to support market expansion.

EdTech solutions are increasingly being adopted for K-12 education to overcome challenges regarding student learning and make students more independent and self-directed. EdTech is transforming K-12 education through personalized learning platforms, interactive tools, and real-time feedback, addressing challenges, and enhancing the learning experience. For instance, in November 2021, a survey conducted by the National Center for Education Statistics (NCES) stated that about 35% of the public schools agreed that technology helped students’ self-pace their courses. The data also suggested that 40% of the schools mentioned their students learned more actively, and another 27% claimed technology increased critical thinking capabilities.

Increased government investment in K-12 education is a major driver of market growth, funding schools with additional resources for teachers, technology, and educational materials. This enhanced funding results in improved infrastructure, curriculum development, and teacher training, thus attracting more students and families to the education system. Governments are strategically allocating funds to specific areas such as early childhood education, STEM education, and vocational training, generating new demand for specialized services and products within the market. Furthermore, increased government funding often encourages private-sector partnerships, providing opportunities for businesses including educational technology companies, content creators, and service providers to meet the expanding needs of schools and students.

The market growth stage is high, and the pace of the market growth is accelerating. The market is characterized by a high degree of innovation owing to the rapid technological advancements. Integration of innovations such as AI, AR/VR, and personalized learning platforms is facilitating more engaging and adaptive learning experiences for students. The curriculum is evolving to prioritize essential skills such as critical thinking, problem-solving, and digital literacy, preparing students for future employment. However, moving beyond the conventional approach of memorizing information through repetition, education is shifting towards project-based learning methodologies, encouraging hands-on projects and real-world problem-solving to foster deeper understanding and creativity. Additionally, there is a growing recognition of the importance of mental health and social-emotional skills, prompting the implementation of programs that promote resilience, empathy, and effective communication among students.

K-12 Education Market Report Scope

Report Attribute Details
Market size value in 2024 USD 2.79 trillion
Revenue forecast in 2030 USD 5.66 trillion
Growth rate CAGR of 12.5% from 2024 to 2030
Base year for estimation 2023
Historical data 2017 – 2022
Forecast period 2024 – 2030

The market is characterized by a high level of merger and acquisition (M&A) activity by the leading players, including educational publishers, curriculum providers, and technology companies. Major entities are pursuing these strategies to expand their market share by acquiring new customer bases, diverse product portfolios, and additional distribution channels. The surge in educational technology (EdTech) is a significant driver of M&A, with companies acquiring smaller EdTech startups to integrate innovative technologies such as adaptive learning tools and personalized learning programs.

List of Key Players in the K-12 Education Market

  • Oracle
  • Pearson
  • Samsung Electronics Co., Ltd.
  • Adobe Inc.
  • Microsoft
  • D2L Corporation
  • IBM Corporation
  • McGraw Hill LLC
  • Dell Inc.
  • BYJU’S

 

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