K-12 Education Market Size, Share & Growth | Forecast [2031]

Report Description

Market Outlook:

The Global K-12 Education Market was valued at USD 3,382.3 Billion in 2022 and is projected to reach USD 4,960.0 Billion by 2031, expanding at a CAGR of 4.5 % during the forecast period. K-12 education is a collective term that refers to elementary and secondary education. K stands for kindergarten, and 12 stands for the 12th grade. K-12 comprises kindergarten, primary, secondary, and high school. K-12 education allows for adequate time for mastering skills, fosters lifelong learners, and aids graduates in university education, middle-level skill development, employment, and entrepreneurship.

K-12 education aids in building the foundation of a student's academic career. It offers fundamental information and allows for learning abilities required for personal and professional growth. Additionally, K–12 education is crucial for creating responsible adults.

Get Free Sample Report

Macro-Economic Factors

Public & Private Investments impact

As per the study conducted by the Global Impact Investing Network in 2020, the global education sector received over USD 1.26 billion as investments in 2019, placing it 12th out of the 13 tracked investment categories. Furthermore, enrollment in private K–12 education has been sharply increasing in developing nations. This occurs as government systems struggle to meet the demands of expanding populations. The key reason behind the growth of private K-12 school is the financial support of Development Financing Institutions (DFIs).

On the other hand, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, made investments in K–12 private schools from the mid-1990s until it decided to stop doing so in 2017. In order to ensure equal access and reach children from underserved and excluded populations, it might be difficult to fund private schools in low- and middle-income nations. This difficulty is examined in The Evaluation of International Finance Corporation Investments in K–12 Private Schools. Furthermore, investors must also weigh the trade-offs between preserving the financial viability of their investments in private K–12 schools and promoting high-quality instruction, fair access, and wider outcome on the education system. Additionally, traditional finance, which includes individual and family entrepreneurs as well as private equity and impact investors are expected to dominate investments in private K–12 schools. Many private K–12 schools, especially those with low schooling, are restricted in their capacity to grow due to their small size and relative business immaturity. Thus, these many issues point to the necessity for private K–12 schools to have technical help from investors and longer-term investment horizons.

Technology Integration

Teaching and learning now have new possibilities because to technology integration. Before the advent of the digital age, classes had to be structured around lectures, discussions, and tangible materials. Teachers and students now have access to a variety of digital resources, including interactive teaching tools, online courses, and digital textbooks. All online educational practices are referred to as digital education. Furthermore, educational technology (EdTech) uses hardware and software that are pertinent to learning and teaching in order to enhance student results. For example, students participate in lessons remotely via a screen device using virtual e-learning platforms. To improve new mode of learning, various platforms combine several features such as video, audio, live streaming, interactive lessons, immediate feedback, and messaging to enhance the teaching as well as learning experience for the educator and students. Additionally, students can either learn asynchronously at various times selected by themselves or collectively as a class. Teachers and students can interact remotely with tools such as Google Meets, Microsoft Teams, Zoom, FlipGrid, or ClassDojo to facilitate classes, projects, and interactions. Onscreen gadgets in the classroom or online learning platforms are used by students to access digital learning applications such as Google Classroom, Prodigy, Kahoot, Schoology, Quizlet, SeeSaw, Buncee, and Blackboard. Additionally, a sizeable portion of academic staff around the world have demonstrated a desire to promote innovative and digital learning models. Approximately 65% of faculty members favor the use of open educational resources (OERs) in the classroom, while 63% support competency-based education.

Intercontinental K-12 Education

In the global K–12 industry, school organizations are becoming more and more influential. According to study, a growing number of significant school organizations are coming to dominate the global school sector. A school group is defined as one that "owns international schools that are members of the group or, has a financial interest in international schools by managing them or by providing essential services to them without actually owning them."

The expansion of the international school industry as a whole is significantly attributed to the school organizations. There were 333 school groups in the middle of 2017 with a combined enrollment of 1.28 Billion pupils among more than 2,500 institutions. By the first quarter of 2022, there were 616 designated school groupings, 4,861 schools, and 2.18 Billion pupils included in those totals. Overall, the school group segment has grown by over 70% over the last five years, with certain groups rising quite a bit more quickly than that. During the same time period, combined fee revenues climbed by about 63%. Additionally, school groups play a significant role in the creation of new campuses, with an estimated 238 of the 377 new schools now under construction belonging to a school group.

Market Dynamics

Market Driver- Growing investments in EdTech solution for improved learning experience is projected to boost the market in the coming years

The use of educational technology in K12 education is on the rise due to a variety of factors including the ease of availability of technology, the change in need of workforce, and the desire to personalize learning for the students. Edtech solutions are the tools and applications that can be used to enhance teaching, learning, and assessment. With students having access to smartphones, tablets, and laptops, the internet provides them with access to vast amounts of information. Schools are increasingly providing students with access to technology through initiatives such as one-to-one computing programs. This increased availability of technology has led to the growing demand for ed-tech solutions that can help teachers and students use to enhance teaching and learning. As the world becomes increasingly digital, there is growing demand for workers who have strong technological skills. In order to prepare students for these jobs, schools are looking for ways to incorporate technology into the curriculum. Edtech solutions help students develop the skills they need to succeed in the workforce, such as coding and digital literacy.

The growing investment in ed-tech solutions is their ability to provide enhanced accessibility and flexibility to students. Edtech solutions offer the possibility of remote learning, breaking down these barriers. Students can access educational content anytime, anywhere, facilitating personalized learning experiences to cater to their individual needs and learning styles. Moreover, Edtech platforms bridge the gap between those who wish to learn and those who offer the same service by virtually bringing them on the same platform. Furthermore, Edtech solutions provide educators with invaluable real-time feedback and comprehensive data analysis capabilities. Through these platforms, teachers can monitor student’s progress and identify areas of improvement. This data-driven approach facilitates continuous improvement and enhances the overall quality of education.

Market Driver- Ongoing implementation of online learning in school curriculum is one of the key factors fueling the market during the forecast period

The field of K-12 Education has undergone a significant transformation in recent years with the integration of technology into the learning process. Technological advancement has played a major role for the implementation of online learning in school such as high-speed internet access, the proliferation of smart devices, and the availability of educational software and tools, have made online learning more accessible and affordable than ever before. Online learning offers flexibility in terms of time, pace, and location of learning. Students can access educational resources and complete assignments at their own convenience, allowing for personalized learning experiences that cater to individual needs, interests, and learning styles. Online learning reduces the cost associated with printed materials, and infrastructure required for traditional classrooms. It offers a cost-effective alternative that allows schools to allocate resources more efficiently. Online learning eliminates geographical barriers, making quality education accessible to students regardless of their location. It ensures that students in remote areas, those with disabilities, or those facing other challenges have equal access to educational opportunities.

Market Restraint- Attrition of K-12 teachers and hiring lags is one of the key factors hampering the market growth in the coming years

Attrition of K-12 teachers refers to the phenomenon of teachers leaving their positions or the profession entirely. There are a number of causes for this attrition. One primary factor is the increasing workload and job stress experienced by teachers. Teachers have to face long working hours, heavy administrative tasks, and overwhelming paperwork. Another factor contributing to attrition is the relatively low salaries and limited career advancement opportunities for K-12 teachers. Many educators struggle with inadequate compensation, especially considering the demanding nature of their roles. K-12 schools in the US are finding it difficult to retain teachers, with potentially far-reaching societal consequences. To understand what motivates the K-12 teachers to stay, leave, or return to their jobs McKinsey surveyed over 1,800 US educators, school leaders, and school mental health professionals at the end of the 2021-22 school year. Approximately one-third of respondents said they intended to leave the job before the start of the next school year. Additionally, the lack of professional development opportunities can also contribute to teacher attrition. Continuous training and skill enhancement are crucial for teachers to stay updated with the latest techniques and educational trends. Moreover, inadequate support and resources for professional development can leave teachers feeling uninspired, pushing them toward other career options. Over the last decade, 2020 saw the highest annual rate of teacher attrition, with separations of state and local education workers increasing 20 percent from 2019 to 2020. After a temporary dip between 2020 and 2021, attrition increased by 17% between 2021 and 2022. Hiring increased by only 38 percent from 2020 to 2022, making it difficult to replace education workers who left and fill new positions. According to a recent McKinsey survey, more than 61 percent of school administrators had difficulty to hire teachers, substitutes, administrators, and mental health professionals. Furthermore, streamlining the recruitment and hiring processes can help to reduce lags and help to hire qualified teachers.

Market Opportunity- Technological advancement in educational system is anticipated to offer a lucrative opportunity for market in the coming years

Technological advancement has rapidly transformed the landscape of K-12 education, providing new opportunities for both teachers and students to access information and engage in interactive learning experiences. With the integration of technology into classrooms, education has become more accessible, personalized, and collaborative. E-learning is one of the crucial components for the transformation of K-12 education. K-12 teachers and institutions have been working to improve their curriculums in order to make learning more relevant and learner-friendly. The internet has become a vast source of information, allowing students to explore subjects beyond what is available in textbooks. Online educational platforms provide interactive lessons, videos, and simulations that help students to improve their studies. Students can access digital libraries, research databases, and educational websites, enhancing their understanding and knowledge retention. Additionally, online communication tools enable students to connect with experts, participate in virtual field trips, and collaborate with teachers from around the world. Moreover, technology enables personalized learning experiences. Adaptive learning platforms use algorithms to assess students’ strengths and weaknesses. Virtual reality (VR) and augmented reality (AR) technologies provide immersive experiences, allowing students to explore historical sites, visit distant places, or visualize complex concepts. These factors are expected to create lucrative opportunities for market expansion during the forecast period.

Scope of the Report

The report on the Global K-12 education Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Segmental Outlook

The Global K-12 Education Market is segmented on the basis of by Product Types, by Application, and by Learning Mode.

Based on type, the Global K-12 education Market is divided into private and public. The public segment is expected to dominate the market during the forecast period, owing to its several benefits such as a public-school education is government or public institutional funded in which all students attend the school at very low fee structure or free of cost. For example, a primary or secondary school in the US supported by public funds and providing free education to children of a community or district.

Get Free Sample Report

Based on application, the K-12 education market is segmented into pre-primary school, primary school, middle school, and high school. The primary segment is expected to hold a significant market share during the forecast period, owing to rising demand for primary education as primary education is the first formal stage of education after preschool or kindergarten. The main objective of primary education to the children of various ages is to give children opportunities to gain knowledge of several subject matter through primary education. Moreover, it aims to teach students both cognitive and emotional skills through the use of a well-rounded curriculum.

Based on learning mode, the K-12 Education market is bifurcated into online/virtual learning and classroom learning. The classroom learning segment is expected to hold a significant market share during the forecast period, owing to classroom learning is a traditional method of learning, wherein a learning environment is created within the physical walls of a classroom. Classroom learning in K-12 education plays a vital role in shaping the academic, social, and emotional development of students. It provides a structured environment where students engage with teachers and peers, acquire knowledge, develop essential skills, and foster a sense of community. This mode of education offers numerous benefits, including effective instruction, personalized attention, social interaction, and the development of critical thinking and problem-solving abilities.

Regional Outlook

Based on region, the market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The market in the Asia Pacific is projected to expand at a significant CAGR during the forecast period. The growth of the market is attributed to the factors such as rising population, urbanization, and adoption of technologies in education. Furthermore, there are several Edtech startups are coming up with innovative solution for kid’s learning such as Byjus. Moreover countries such as India, China, Indonesia, and Japan have large population and high demand for quality education.

Get Free Sample Report

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global K-12 education Market

• Historical, Current, and Projected Market Size in terms of Value and Volume

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global K-12 education Market