New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Primary School Global Market Report 2023" - https://www.reportlinker.com/p06464085/?utm_source=GNW
The global primary school market is expected to grow from $657.72 billion in 2022 to $721.22 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The primary school market is expected to reach $1,029.23 billion in 2027 at a CAGR of 9.3%.
The primary school market consists of revenues earned by entities by providing education in junior school, elementary school, or grade school.The market value includes the value of related goods sold by the service provider or included within the service offering.
The primary school market also includes sales of tablet and laptop which are used in providing educational services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Primary school refers to an institute where children gain the fundamental skills necessary to prepare them for life, employment, and active citizenship.It also comprises the first year of formal school, which may encompass kindergarten in certain nations or the first grade in others.
It offers academic courses and related coursework to elementary school students (kindergarten through fifth grade).
Asia-Pacific was the largest region in the primary school market in 2021, and is expected to be the fastest-growing region in the forecast period. The regions covered in primary school report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main primary school types are public, private, and online.Public refers to the very few institutions that teach secondary-level students for a fee while being financially and administratively separate from the public system.
The various deployment modes are cloud, and on premise and the various fee structure are low-income, medium-income, and high-income.
Growing literacy rates are expected to propel the primary school market going forward.The literacy rate refers to the percentage of a community that is literate in both reading and writing.
The literacy rate suggests the existence of an effective primary education system, so an increase in literacy will propel market growth. For instance, in September 2022, according to the United Nations Educational, Scientific, and Cultural Organisation, a French-based specialized agency promoting world peace and security, there were 771 million illiterate people around the world in 2020, and the global literacy rate increased to 86.68% in 2020. Therefore, the growing literacy rate is driving the primary school market.
Technological advancement is a key trend gaining popularity in the primary school market.Major companies operating in the primary school market are focused on developing new technological solutions to strengthen their position.
For instance, in May 2022, Tata Class Edge, an India-based company and the Furtados School of Music, an India-based music company, partnered to provide the best educational experience to schools via the use of technology and music. By combining it with the expertise and resources of TATA Class Edge in the K–12 educational industry, Furtados School of Music has chosen to increase the accessibility of this music teaching technique.
In November 2021, McGraw Hill, a US-based educational publishing company, acquired Achieve3000 for an undisclosed amount.The acquisition is subjected to the combination of Achieve3000’s supplemental and intervention solutions with McGraw-Hill’s broad range of PreK–12 products, which can benefit students of all ages and skill levels.
It enables McGraw-Hill to provide a more extensive selection of excellent digital learning tools that aid teachers, engage students, and improve learning results. Achieve3000, is a US-based company that offers mainstream kids in school options for diversified education that is delivered online.
The countries covered in the primary school market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The primary school market research report is one of a series of new reports that provides primary school market statistics, including primary school industry global market size, regional shares, competitors with a primary school market share, detailed primary school market segments, market trends and opportunities, and any further data you may need to thrive in the primary school industry. This primary school market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464085/?utm_source=GNW
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