New York, US, April 21, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Social and Emotional Learning Market” information by Type, by Components, by Core Competencies, by End User and Region – forecast to 2028” market size to reach USD 9,025.3 million, growing at a compound annual growth rate of 23.4% by 2028.
Market Scope:
The adoption of linked and smart devices in e-learning, as well as growing digitalization in the education sector is accelerating market expansion. Following the digitalization of the educational sector, social and emotional education is becoming increasingly important in terms of educational reform & modernization around the world.
Dominant Key Players on Social and Emotional Learning Market Covered are:
- Committee for Children (US)
- EVERFI (US)
- Nearpod (US)
- Illuminate Education (US)
- Panorama Education (US)
- Hero K12 (US)
- Playworks (US)
- Newsela (US)
- Wings for Kids (US)
- Rethink Ed (US)
- Oneder Academy (US)
- Purpose Prep (US)
- Evolution Labs (US)
- PEEKAPAK (Canada)
- Paths Program LLC (US)
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Market USP Exclusively Encompassed:
Market Drivers
Proliferation of Computing to Boost Market Growth
The adoption of cellphones, computers, tablets, and broadband access has been widespread in the K-12 sector since the emergence of technology. Mobile computing in K-12 classrooms is being driven by the availability of low-cost cellphones & computing equipment backed by strong government financing. Computing technology aids kids in learning more quickly & effectively. It also allows educational institutions to make faster and more informed judgments using data acquired from various smart devices.
Absence of Appropriate Infrastructure to act as Market Restraint
The absence of appropriate infrastructure in underdeveloped and developing economies and focus on academic learning over social/emotional learning may act as restraints for social and emotional learning market over the forecast period.
Lack of Knowledge to Remain as Market Challenge
The lack of knowledge regarding the process and need of a high budget to implement social and emotional learning may act as market challenges over the forecast period.
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Segmentation of Market Covered in the Research:
The social and emotional learning market is bifurcated based on end user, core competencies, type, and component.
By component, services will lead the social and emotional learning market over the forecast period.
By type, apps will dominate the social and emotional learning market over the forecast period.
By core competencies, self-awareness will spearhead the social and emotional learning market over the forecast period.
By end user, pre-K will have the lions share in the social and emotional learning market over the forecast period.
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Regional Analysis
North America to Precede Social and Emotional Learning Market
North America will precede the social and emotional learning market over the forecast period. The key growth engines of the market are the United States, Canada, and Mexico. The market for social and emotional learning (SEL) is dominated by North America. Furthermore, North Star Elementary in Alaska reported a whopping 90% of pupils coming from a low socioeconomic background. In order to help their children develop social and emotional skills and overcome trauma, the organization turned to Aperture Education. Because of the high acceptance of smart and emotional learning solutions and increased spending by K-12 schools on the implementation of SEL programmes, North America is expected to lead the market throughout the projected period. Rising government assistance for the deployment of SEL solutions also contributes to the market's expansion.
APAC to Have Favorable Growth in Social and Emotional Learning Market
The APAC region will have favorable growth in the social and emotional learning market over the forecast period. The adoption of Social & Emotional Learning solutions in the region is being driven by government measures to develop digital infrastructure. The region also has the largest student population, and there is an increasing need for eLearning & online education as technology advances. This pushes the market to satisfy a wide range of educational needs in nations in the Asia-Pacific region, including Australia & New Zealand (ANZ), China, Japan, Singapore, & India. During the forecast period, this region offers tremendous potential for the social and emotional learning market. The region also has the largest student population, and there is an increasing need for eLearning and online education as technology advances. This leads the market to satisfy a wide range of educational needs in countries across the APAC region, including Japan, China, South Korea, India, Australia, and Southeast Asia. In the future years, the APAC social and emotional learning market is likely to be propelled by rapid economic expansion in China, Japan, India, and South Korea. When compared to the amount spent on education in emerging economies, the costs of implementing social and emotional learning solutions and forming teams to manage programmes at schools and educational institutions are much higher. The presence of several top manufacturers, such as Panorama Education, Illuminate Education, and Committee for Children, is functioning as a primary catalyst for market growth. The growing availability of a variety of online courses and programmes offered by schools, colleges, and universities may contribute to the industry's domination. Furthermore, advanced technologies, such as education gamification, are expected to proliferate rapidly in countries like the United States & Canada, and AI is expected to enhance regional growth. Furthermore, due to factors such as expanding government initiatives to enhance digital infrastructure and the growing proliferation of remote education and/or e-learning solutions, Asia-Pacific is expected to develop at the greatest CAGR across the globe during the coming years.
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COVID-19 Impact on the Global Social and Emotional Learning Market
COVID-19 has had an influence on different industries around the world, resulting in travel prohibitions, global lockdown, and a delay in various enterprises' supply chains. The ongoing unusual event has had a significant impact on the ICT business, which has seen a dramatic fall in revenues for the uncertain positioning of technical items. By offering remote social-emotional learning solutions and services, education technology companies and organizations have stepped forward to assist educators in bringing resources for social and emotional learning and psychological wellbeing to teachers, students, and families during the COVID-19 pandemic and school closures. To prevent the spread of COVID-19, numerous governments have implemented stringent lockdowns, shutdowns, and mobility restrictions. During the years 2020 and 2021, vendors have seen a surge in demand for Social and Emotional Learning products. The commercialization of SEL is likely to result in significant market growth. To rebuild customers' trust, businesses have had to reconsider their strategy and place a higher focus on strong network connectivity as a result of the pandemic.
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