London, March 21, 2024 (GLOBE NEWSWIRE) -- Global K-12 private education market is expected to witness a significant surge, jumping from US$7.5 Bn in 2022 to US$12.7 Bn in 2030, according to a recent market report by Fairfield Market Research. This translates to a solid CAGR of 7.9% between 2023 and 2030.
The report highlights several key drivers fueling this growth, including the growing popularity of learning analytics, increasing emphasis on student outcomes, and a proliferation of specialised programmes.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$7.5 Bn | |
| Estimated Market Size in 2030 | US$12.7 Bn | |
| CAGR | 7.9% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The K-12 private education market is flourishing due to several factors. One key driver is the increasing reliance on educational technology and software solutions. Private schools are heavily investing in software for learning management, virtual classrooms, assessment tools, and administrative functions. Additionally, hardware spending on devices like computers and tablets to facilitate digital learning is a prominent trend.
“Private high schools offer specialised programmes, college preparatory courses, and diverse subject options, attracting families seeking enhanced educational opportunities. On the other hand, public schools that offer a blend of the advantages of private education with government support will be a popular choice for affordability-conscious families seeking quality education,” explains the analyst while summarizing the report findings.
As far as deployment is concerned, despite continued dominance of the on-premises category, the report underscores growing market significance of cloud deployments. Cloud-based solutions are anticipated to gain traction in the coming years due to their scalability, flexibility, and cost-effectiveness.
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Key Research Insights
- The high school segment holds the dominant market share due to its importance in students' academic and professional journeys.
- On-premise deployment continues to be the preferred mode for K-12 private education due to data security concerns, and regulatory compliance.
- Public-type schools, which are publicly funded but independently operated, lead the market.
Insights into Segmentation Analysis
On-Premises to be the Preferred Deployment Mode
On-premise deployment currently dominates the market due to data security concerns and regulatory compliance.
However, cloud-based solutions are expected to gain traction due to their scalability, flexibility, and cost-efficiency, particularly for remote learning scenarios.
High Schools Take up the Largest Slice of the Pie
High schools hold the largest market share as they play a pivotal role in students' academic and professional development.
Pre-primary and primary school applications are anticipated to witness the fastest growth rate due to the growing recognition of the importance of early childhood education and quality primary education.
Parents are increasingly seeking private schools that offer innovative teaching methods, individualised attention, and stimulating learning environments for their young children.
Spend Analysis Reveals Significant Share of Hardware
Hardware spending currently leads the market as private schools prioritise investments in computers, tablets, interactive whiteboards, and other devices to facilitate digital learning experiences.
However, the software spend analysis segment is expected to grow significantly due to the rising adoption of educational technology solutions for learning management, virtual classrooms, assessment tools, and administrative functions.
The COVID-19 pandemic has further accelerated the use of software for remote learning, and this trend is likely to continue.
Public-Funded K-12 Schools Top the Charts
Public-funded K-12 schools hold the largest market share due to their affordability. These schools receive government funding or subsidies, making quality education accessible to a wider range of students.
However, private-type K-12 education is expected to witness a higher growth rate due to the increasing demand for personalised and specialised instruction.
Parents are seeking tailored learning experiences for their children, and private schools offer flexibility in curriculum design, smaller class sizes, and innovative teaching methods.
Additionally, rising disposable incomes and the desire for enhanced educational quality are driving enrollment in private institutions.
Key Report Highlights
- Online and blended learning approaches using virtual classrooms, learning management systems, and interactive educational software are revolutionizing the K-12 private education landscape. These technologies offer flexibility, personalised instruction, and cater to evolving educational needs.
- Personalised learning technologies are transforming the way education is delivered. These solutions utilise adaptive software, AI algorithms, and data analytics to create customised learning pathways for each student, maximizing their potential and catering to diverse learning styles.
Insights into Regional Analysis
North America Represents a Well-Established Powerhouse
North America dominates the K-12 private education market due to its well-established private education sector, strong demand for quality education, favourable economic conditions with a significant middle class, and a robust regulatory framework.
North America is likely to gain significantly from its private education sector. It has captured the largest market share in the K-12 private education market due to several factors.
The region boasts a well-developed private education sector with a long history of private schools offering diverse programmes and specialised curricula.
There is a strong growth in demand for quality education, driven by a perception of better educational outcomes, safety, and innovative teaching methods in private schools.
In addition, favourable economic conditions, including a significant middle-class population with disposable income, enable families to invest in private education.
Furthermore, various state-level voucher programmes and school choice initiatives in the US have increased access to private schools, further driving market growth.
Asia Pacific Exhibits a Spark with Mounting Investments in Education Sector
The Asia Pacific market is perceived as the most lucrative regional market owing to the rapid pace of urbanisation, a rising middle class, and growing emphasis on quality education that are creating a surge in demand for private schools.
Additionally, countries in the region, such as China, and India, have large populations with a strong focus on education, and a willingness to invest in private education for their children.
Furthermore, favourable government policies, and increased foreign investments in education contribute to market expansion. These factors collectively fuel the robust growth of the K-12 private education market in the Asia Pacific region.
Key Players in Global K-12 Private Education Market
- Educomp Solutions
- Pearson
- GEMS Education
- Cognita
- Nord Anglia Education
- Chegg
- Bright Horizons Family Solutions
- The Princeton Review
- TAL Education Group
- F. Education First
- Kumon
- LeapFrog Enterprises
- Scholastic Corporation
- Mosaica Education
- Meritnation
Global K-12 Private Education Market Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By Deployment Mode Coverage, By Application Coverage, By Spend Analysis Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/k-12-private-education-market
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