Covina, May 03, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand of K-12 Education Market accounted for US$ 119.7 billion in 2022 and is estimated to be US$ 631.9 billion by 2032 and is anticipated to register a CAGR of 17.0% over the forecast period”
K12 is an education management organization (EMO) which provides online education for public school students from kindergarten to 12th grade. Government and NGO funds for online educational purposes has played major role in developing the target market growth.
Adoption of digital technologies such as smartphones, laptops and spread of COVID pandemic has provided lucrative opportunities to fruitful the demand for Online K-12 Education market growth. Presence of major key players and continuous innovation in technology is expected to fuel the demand for Online K-12 Education market growth in future.
What is Prophecy’s Analyst View on K-12 Education Market?
Growing demand for test preparation and standardization of competitive test has become a key factor in target market growth. Increasing importance of STEM education among students, technological advancement and growing trend of online education has further, facilitated the demand for K-12 Education market growth.
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Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Accounted in 2022 | US$ 119.7 billion |
| Estimated to be in 2032 | US$ 631.9 billion |
| CAGR | 17.0% |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Product Type - Elementary Education (Grades 1-5), Junior High Education (Grades 6-8), and Senior High Education (Grades 9-12) By Application - Teacher, Student, and Parents. |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
What are the recent news in the K-12 Education Market?
- In March 2022, XR Immersive Tech Inc., joined partnership with VictoryXR to provide educational content to LBVR operators across globe via, synthesis VR content marketplace.
- In June 2020, Pearson announced new online education services for grades K-12 to meet growing complex needs of educators. New services includes, CoursewarePLUS, Virtual School in a Box, Teaching for Impact, District Backup Plan and Special Populations Consultation Service.
What impact has COVID-19 had on the K-12 education market?
The COVID-19 pandemic has had a significant impact on the K-12 education market, with school closures forcing a sudden shift to remote learning. The increased reliance on technology for teaching and learning, along with budget cuts, has resulted in significant learning loss for many students. Schools have had to prioritize the health and safety of students and staff, which has included implementing social distancing and sanitation procedures.
The pandemic has also highlighted the social and emotional needs of students, with schools providing additional support to help them cope with the stress and anxiety caused by the pandemic. Moving forward, there will likely be a continued focus on equity and access to education resources and support, as well as the potential long-term impact on education outcomes and workforce development.
What are the Key Benefits of K-12 Education Market?
➣Greater flexibility and accessibility: K-12 education provides students with greater flexibility to learn at their own pace and from anywhere with an internet connection, which can improve access to education for students in rural or remote areas.
➣Personalized learning: K-12 education can offer personalized learning plans and adaptive learning technologies that cater to individual student needs and abilities.
➣Cost-effective: K-12 education can be more cost-effective than traditional schooling, as it eliminates the need for physical infrastructure and can reduce transportation costs.
➣Integration of technology: K-12 education can integrate technology and digital tools to enhance the learning experience and provide opportunities for interactive and engaging learning.
➣Increased student engagement: K-12 education can increase student engagement through the use of gamification and other interactive features
➣Time-saving: K-12 education can save time for both students and teachers, as it eliminates the need for commuting and can streamline administrative tasks.
➣Individual attention: K-12 education can provide more individual attention to students who may need additional support or who learn at a different pace than their peers.
➣Accessibility to diverse resources: K-12 education allows students to access diverse resources from across the globe, which can enhance their learning experience and exposure to different perspectives.
Who are the Top Key players operating in the K-12 Education Market?
- XRS Corp
- Languagenut Inc.
- Ifdoo
- New Oriental Education & Technology
- Pearson
- Bettermarks
- YY Inc.
- CDEL
- Georg von Holtzbrinck GmbH & Co. K
- Scoyo
- YINGDING
- XUEDA
- White Hat Managemen
- AMBO
- Beness Holding, Inc.
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