K12 Education Market to Reach $525.7 Billion by 2031, Growing at 17.7% CAGR: states Allied Market Research
The global K12 education market is predicted to witness prominent growth due to the increasing use of learning analytics in the educational sector owing to the rapid technical advancements and the growing implementation of government programs to elevate the standard of K12 education worldwide.
Wilmington, DE, Nov. 10, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “K12 Education Market by Type (Public, Private), by Deployment Mode (Cloud, On-Premise), by Application (High School, Middle School, Pre-Primary School, and Primary School), by Spend Analysis (Hardware, Software, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” As per the report, the global K12 education industry is envisioned to garner $525.7 billion by 2031. The market accounted for $103.5 billion in 2021 and is projected to rise at a CAGR of 17.7% over the estimated period from 2022 to 2031. The report provides a comprehensive analysis of top segments, key investment pockets, changing market trends, value chains, competitive scenarios, and regional insights.
The prime determinants of the market:
The global K12 education market is driven due to the surge in the use of learning analytics in the educational sector because of spontaneous technical advancements and the increasing implementation of government programs to escalate the standard of K12 education globally. Furthermore, adaptive learning is gaining popularity owing to its various advantages such as coherent feedback mechanisms, the importance of mastery-based learning, resourcing opportunities for formative assistance, and idea mapping. All these factors are expected to create excellent growth opportunities for the K12 education market growth in the upcoming years. However, the closure of schools due to the rise of the COVID-19 pandemic may impede the growth of the K12 education industry.
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Report Coverage & Details:
|Market Size in 2021||$103.5 Billion|
|Market Size in 2031||$525.7 Billion|
|No. of Pages in Report||300|
|Segments Covered||By Type, Deployment Mode, Application & Spend Analysis|
|Drivers||Implementation of government programs to raise the standard of K12 education around the world and the rise in use of learning analytics in the educational sector as a result of quick technical advancements drive the growth of the global K12 education market.|
|Opportunities||Emphasis on mastery-based learning, efficient feedback mechanisms, and idea mapping. These factors are expected to produce ample opportunities to accelerate the K12 education market growth in the coming years.|
|Restraints||Shut down of schools due to the sudden outbreak of the COVID-19 pandemic hampered the growth of K12 education industry.|
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The private segment to hold the dominant market share by 2031
Based on type, the private segment is predicted to showcase the biggest market share over the estimated timeframe. The segment accounted for the highest market share in 2021, contributing to about three-fifths of the global K12 education market revenue. This is mainly because the innovations brought in the K-12 model are universally accepted across the global education system and compulsory for private schools. In grades K-12, teachers encourage students by conducting many questions-and-answer sessions and various other activities to help students build advanced learning habits. On the contrary, the public segment would manifest the highest CAGR of 18.5% over the analysis timeframe. K12 online public schools attempt to offer a personalized and high-quality education with detailed instructions from state-certified teachers to help the students achieve their optimum levels.
The on-premise segment to hold the biggest market share in terms of revenue by 2031
Based on deployment mode, the on-premise segment generated the highest market share in 2021, contributing to nearly three-fifths of the global K12 education market revenue, and is predicted to continue steady growth during the forecast period. This is mainly because it is easily possible to provide a high level of security with an on-premises solution for schools. However, the cloud segment is predicted to rise at a stunning CAGR of 18.4% over the analysis period. The valuable and affordable features of cloud computing are available to K-12 school districts. These features offer numerous benefits to schools such as the eradication of the need for expensive hardware, improved access and mobility, and lower data storage costs.
The hardware segment registered the major share in 2021
By spend analysis, the hardware segment generated the highest market share in terms of revenue, providing nearly half of the global K12 education market in 2021. E-learning and software solutions offer integrated corporate resource planning tools that can pave the way for the generation of better courses and more constructive delivery of classes. On the contrary, the software segment is predicted to hold the lion’s share and manifest the highest CAGR of 19.4% over the estimated timeframe. This is mainly because software solutions offer institutions with planned organization resource planning systems that can support faculty members in creating better courses and fruitfully managing classrooms and schools.
North America region to manifest a significant revenue growth in 2031
Based on region, North America generated the largest market share in 2021, delivering more than two-fifths of the global K12 education market revenue, and is predicted to continue promising growth over the estimated period. This growth is mainly due to the increasing emphasis on minimizing the administrative load on teachers, huge spending on EdTech, the growing need for personalized learning in classrooms, and the surging demand for advanced solutions to foster students’ school achievement. On the contrary, the market in the Asia-Pacific region is predicted to grow at the fastest CAGR of 19.2% over the analysis timeframe. This is mainly due to the extensive adoption of online learning by millions of students across the region. Many nations in the region have created their entire K-12 curriculum over online platforms.
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Prominent market players:
- Pearson media company
- Adobe Systems Inc.
- D2L corporation
- Samsung Electronics Co Ltd
- International Business Machines Corporation
- Oracle Corporation
- Smart technologies
- Cengage Group
- Microsoft Corporation
- BLACKBOARD MEDIA PRIVATE LIMITED
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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