Market Insights Reports delivers key insights on the K-12 Education market in its latest report titled, “K-12 Education Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
K-12 Education Market is expected to grow at a CAGR of 31.6% during the forecast period 2021 to 2026.
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Top Key Players in the Global K-12 Education Market: Samsung, Cengage Learning, Mcmillan Learning, Dell, IBM, Intel, Tata Class Edge, Saba Software, BenQ, Microsoft, Next Education, Ellucian, Knewton, Blackboard, McGraw-Hill Education, Adobe Systems, Oracle, Smart Technologies, Chungdahm Learning, Educomp Solutions, D2L, Promethean World, Pearson Education, TAL Education Group and Others.
– May 2020 – K12 Inc. has provided more than 150,000 students, families, and teachers in the US with access to free educational and instructional tools and resources during the coronavirus pandemic. Despite nationwide school closures, the company is helping students and teachers get back to school this academic year.
– March 2020 – In view of the coronavirus scare, Indian ed-tech major BYJU’S announced to provide free access to its complete app to school students till April. The company registered an immediate three times increase in the number of users. As many as six million new students joined the platform in March alone.
The market is driven by schools shifting from the traditional blackboard approach to integrating smart technology into learning environments. The learning trend encompasses a broad range of activities, tools, and services, which are aiming to improve the educational outcomes of students.
– The increasing job opportunities in science, technology, engineering, and mathematics (STEM) fields have boosted the demand for STEM education. Students who successfully score high grades in competitive examinations are eligible for admission into higher educational institutions. Hence, parents, students, and various stakeholders are placing greater emphasis on basic STEM education in schools across the world.
– Factors such as technological advances and the rising use of Big Data have increased the popularity of learning analytics in the educational industry. The adoption of learning analytics helps educational institutions to offer a personalized form of learning. Moreover, robots can also help children that are homeschooled or teach in areas where human experts are short in supply. For instance, English-speaking robots were introduced to some 500 Japanese classrooms in 2019 to serve this purpose. In South Korea, a robot, Robosem, is teaching English where certified English teachers are rare.
– Governments initiatives to improve the quality of education at the K-12 level across the world is expected to drive the market growth. For instance, Saudi Arabia is its “Vision 2030” aim to increase the share of private education to 25% by 2030. In order to achieve that, the government also allowed 100% foreign business ownership in 2017, to gradually ease the ownership restrictions on foreign firms, which were previously required to set up joint ventures with local partners. This will attract global private K-12 providers in the country.
– The recent COVID-19 outbreak also impacted the global education industry. The pandemic is anticipated to have enormous economic consequences, and it is also having a devastating impact on global education. According to the latest figures released by the UNESCO, 1.3 billion learners around the world were not able to attend schools, as of March 23, 2020.
Top Line Market Forecast:
Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2026 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.
Browse Complete Report details with Table of Content:
Asia-Pacific to Have Significant Market Share
– In the Asia-Pacific region, the K-12 education market is growing at a fast rate owing to the adoption of online learning by millions of learners. Several countries are putting their entire K-12 curriculum online. The growth is driven mainly by countries like China, India, Indonesia, Malaysia, among others.
– The growing demand for test preparation and standardization of competitive tests are a few of the factors contributing to the K-12 education market growth in this region. The rising competition in STEM competitive examinations will also boost the demand for the K-12 education market.
– Moreover, various government initiative by many countries in the region is expected to drive the market during the forecast period. For instance, the government of India plans to establish the Atal Tinkering Laboratories (ATL) in schools across the country with an aim to foster creativity, curiosity, and imagination in young children. It will also help children in inculcating skills such as computational thinking, design mindset, adaptive learning, physical computing, etc.
– Under this initiative, children will get a chance to work with various tools and equipment to understand the basic and advanced concepts of STEM (Science, Technology, Engineering, and Math). Students in the ATL’s will be equipped with educational and learning kits and equipment on science consisting of robotics, electronics, open-source microcontroller boards, sensors with 3D printers, and computers
This K-12 Education Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2026
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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