NEW CASTLE, Delaware, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Virtual Schools Market by Type (Private EMOs and Non-Profit EMOs), and End User (Elementary Schools, Middle Schools, High Schools and Post Secondary): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the virtual schools market was valued at $11.3 billion in 2023, and is estimated to reach $20.6 billion by 2032, growing at a CAGR of 7.2% from 2024 to 2032.
Prime determinants of growth
The global virtual schools market is experiencing growth due to several factors such as rise in demand for flexible learning environment, increase in demand for virtual classroom-based education, and rise in popularity of blended learning pedagogies. However, rise in eye disorders and obesity due to huge time spent by students on screen hinders market growth to some extent. Moreover, the onset of ML and AI technologies offers remunerative opportunities for the expansion of the global virtual schools market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $11.3 billion |
| Market Size in 2032 | $20.6 billion |
| CAGR | 7.2% |
| No. of Pages in Report | 198 |
| Segments Covered | Type, End User, and Region. |
| Drivers |
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| Opportunities |
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| Restraint |
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The non-profit EMOs segment is expected to grow at a highest rate during the forecast period.
By type, the profit EMOs segment held the highest market share in 2023, accounting for more than half of the global virtual schools market revenue and is likely to retain its dominance during the forecast period, owing to the expansion of personalized learning, where EMOs leverage advanced data analytics and adaptive learning technologies to tailor educational content and pacing to individual student needs. This approach enhances student engagement and outcomes by addressing diverse learning styles and abilities.
However, the non-profit EMOs segment is projected to attain the highest CAGR of 10.3% from 2024 to 2032, owing to focus on equity and accessibility, with non-profit EMOs striving to bridge the digital divide by ensuring that all students, regardless of socio-economic background or geographic location, have access to high-quality virtual education. This trend involves initiatives such as providing devices and internet connectivity to underserved communities and offering scholarships or financial aid to students in need.
The post-secondary segment is expected to grow at the highest rate during the forecast period.
By end user, the high schools segment held the highest market share in 2023, accounting for nearly one-third of the global virtual schools market revenue and is likely to retain its dominance during the forecast period, owing to the increasing demand for personalized learning experiences. Virtual high schools are leveraging adaptive learning technologies, data analytics, and individualized instructional approaches to tailor education to the unique needs, interests, and learning styles of each student. This trend allows for greater flexibility and customization, empowering students to progress at their own pace and explore topics in-depth, ultimately leading to improved academic outcomes and student engagement.
However, the post-secondary segment is projected to attain the highest CAGR of 11.9% from 2024 to 2032, owing to the expansion of online degree programs and course offerings offered by traditional colleges and universities. As more institutions embrace virtual learning platforms, students have greater access to a wide range of degree programs, certificates, and courses delivered entirely online. This trend enables learners to pursue higher education without geographical constraints, allowing for flexibility in scheduling and accommodating diverse lifestyles and commitments.
Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global virtual schools market revenue and is expected to rule the roost in terms of revenue during the forecast timeframe, owing to the rapid growth of virtual schools, driven by factors such as population growth, urbanization, and advancements in technology. Countries such as China, India, Japan, and Australia are experiencing surge in the adoption of virtual schooling to address challenges related to access to quality education, especially in remote and underserved areas. Governments in the Asia-Pacific region is investing in virtual education infrastructure, developing online learning platforms, and providing funding for virtual schools to expand access to education and improve learning outcomes. These initiatives aim to leverage technology to overcome barriers to education, promote inclusivity, and enhance educational equity across diverse populations.
Major Industry Players: -
- Brigham Young University
- Pansophic Learning
- Mosaica Education, Inc.
- Pearson Education, Inc.
- Florida Virtual School
- Stride, Inc.
- American Virtual Academy
- Coursera Inc.
- Stanford University
- edX LLC
The report provides a detailed analysis of these key players in the global virtual schools market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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