New York, NY, Sept. 24, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Early Childhood Education Market By Application (Less Than 3 Years, 3 To 5 Years, And 5 To 8 Years), By Product Type (Physical School Buildings And Distance Education Institutions), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Early Childhood Education Market size & share in terms of revenue was valued at USD 249.38 billion in 2022 and it is expected to surpass around USD 467.83 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.21% during the forecast period 2023 to 2030.”
What is Early Childhood Education? How big is the Early Childhood Education Industry?
Report Overview:
The global early childhood education market size was worth around USD 249.38 billion in 2022 and is predicted to grow to around USD 467.83 billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.21% between 2023 and 2030.
Early childhood education (ECE), sometimes known as nursery education, is a subfield of education that focuses on the initial stages of formal education for children in the age range beginning with birth and continuing through the age of eight years. This would be equivalent to a study that lasted until the third grade if we were to use standard terminology. ECE, or early childhood education, is an essential component of a child's development and plays a role in the child's psychological, biological, and emotional growth throughout this time period. Early childhood education guarantees that children are presented with informed concepts and the appropriate teachings at a time in their lives when they are most impressionable and most likely to learn from their environment.
Early childhood education covers a wide variety of activities that concentrate on the social and cognitive development of children. While some educational institutions may choose to focus on preparing children for school, others may opt to work on the emotional and physical preparation of a kid instead. Early childhood education is a broad field that encompasses a variety of activities. The majority of the time, early childhood education is disregarded as fun or as not being of higher relevance. On the other hand, ECE enables children to leave the safety and security of their homes and learn to explore the outer world on their own while still being supervised by their teachers and caretakers.
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Global Early Childhood Education Market: Growth Factors
Increasing levels of discretionary money in developing countries to fuel market expansion
It is anticipated that the rising rate of per capita income or revenue that can be spent freely in developing nations like Africa, India, China, and others will be beneficial to the early childhood education market around the world. These countries are, for the most part, experiencing an increase in the number of work opportunities as well as an increase in the number of members who generate an income. This, in turn, enables them to increase the amount of money they spend on their children's education. In addition to this, there has been a significant rise, all across the world, in the number of educational institutions that offer programs for very young children. This encompasses both publicly funded and privately owned establishments. The increasing number of actions made by local governments to facilitate early childhood education is a significant factor that also contributes significantly to the ECE system's higher revenue levels. Early Childhood Care and Education (ECCE) was one of the programs that the central government of India said it will begin offering in May 2023 in order to fulfill the goals outlined in its National Education Policy for 2020. Anganwadi employees are the target audience for the training program that will be implemented in all 13.3 lakh Anganwadi centers across the country.
A greater understanding among parents of the ways in which early childhood education (ECE) might foster higher growth
The value that early childhood education (ECE) may bring to a child's overall growth and development is starting to dawn on more and more parents. The early childhood education (ECE) centers that conduct the programs are more than just playgrounds since they provide children with significant learning and growth opportunities. When both parents are employed, or when one parent is employed but the other is responsible for the child's care, early childhood education institutions take on an even greater level of significance. Children can spend a few hours in the care of qualified professionals who not only assist them in developing new necessary habits but also help them make new friends. This allows parents to leave their children in the care of skilled professionals while they go to work. ECE centers have been the first experience for children who were born during the pandemic and who did not come into touch with the outside world or other children for a significant portion of their infancy period. This prevented them from participating in group activities and enjoying the company of other children.
Early Childhood Education Market: Implications of Limiting Factors
The lack of standardization in ECE programs is likely to be a growth inhibitor for the market.
Early childhood education does not adhere to a defined curriculum, which is especially prevalent in establishments that are administered by private organizations. Every early childhood education center approaches the education of children in their own unique manner, incorporating a wide variety of teaching strategies and activities. It is difficult for parents to conduct qualitative assessments of the effectiveness of a program in terms of producing results, which makes this a significant challenge for the early childhood education business. In addition, the expense of early childhood education (ECE) is fast rising in certain regions, such as metropolitan centers, which makes it challenging for parents who have limited financial resources or who have more than one kid. According to some sources, the expense of providing early childhood education in India's tier I cities can vary anywhere from 60,000 to 150,000 Indian Rupees (INR).
Opportunities Available on the Early Childhood Education Market
Increasing the use of digital technology in ECE to generate new chances for growth
The use of current digital technology in early childhood education centers, such as computers, tablets, smartphones, interactive whiteboards, digital storytelling, and interactive learning platforms, has led to an increase in the degree to which these facilities are becoming increasingly digitized. Some educational facilities even resort to the use of virtual reality (VR) and augmented reality (AR) in order to present young people with a whole new universe of opportunities and educational content. Due to the fact that children from all over the world are able to take part in these activities, the operation of digital early childhood education institutions is constrained by geographical borders.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 249.38 billion |
| Projected Market Size in 2030 | USD 467.83 billion |
| CAGR Growth Rate | 8.21% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Montessori schools and associations, Bright Horizons Family Solutions, Primrose Schools, KinderCare Education, Scholastic Corporation, The Goddard School, Pearson Education, Childtime Learning Centers, Houghton Mifflin Harcourt (HMH), Learning Care Group, Teachstone, Head Start, Council for Professional Recognition, National Association for the Education of Young Children (NAEYC), Lakeshore Learning Materials, Waldorf schools and associations, Zero to Three, Sesame Workshop, Bright Horizons Foundation for Children, PBS Kids, and others. |
| Key Segment | By Application, By Product Type, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Early Childhood Education Market: Segmentation Analysis
The early childhood education market around the world may be broken down into three distinct categories: by application, by product type, and by area.
The global market can be broken down into three categories, based on application: less than three years, three to five years, and five to eight years. The 5 to 8 years sector, which owned around 43.1% of the overall market in 2022, saw the greatest increase in growth from the previous year. Children of this age are at their peak readiness to learn about their surroundings, interact with new people, and broaden their horizons by venturing out into the world. They have reached the point, both mentally and physically, where they are ready to leave the security of their homes and place themselves under the care of qualified specialists. In addition, because this is an age group in which impressions are easily formed, it is desirable for pupils to be acclimated to academic learning while simultaneously putting an emphasis on overall development.
The early childhood education sector can be divided into two categories, "physical school buildings" and "distance education institutions," according to the type of product offered. In 2022, the segment that was most concerned with physical school buildings was the one that brought in the most revenue. It was responsible for more than 63.5% of the total money that was brought in. The primary goal of early childhood education is to encourage parents to take their children out of the house and introduce them to new people so that the children can form relationships with those individuals. This goal can only be accomplished in traditional school settings where children of varying socioeconomic statuses, ethnicities, and personalities can interact with one another while engaging in educational pursuits. In addition, the increasing use of digital and interactive media in early childhood education has contributed to schools of this type creating a stronger interest among children.
The global Early Childhood Education market is segmented as follows:
By Application
- Less Than 3 Years
- 3 to 5 Years
- 5 to 8 Years
By Product Type
- Physical School Buildings
- Distance Education Institution
Browse the full “Early Childhood Education Market By Application (Less Than 3 Years, 3 To 5 Years, And 5 To 8 Years), By Product Type (Physical School Buildings And Distance Education Institutions), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/early-childhood-education-market
Competitive Landscape
Some of the main competitors dominating the global Early Childhood Education market include -
- Montessori schools and associations
- Bright Horizons Family Solutions
- Primrose Schools
- KinderCare Education
- Scholastic Corporation
- The Goddard School
- Pearson Education
- Childtime Learning Centers
- Houghton Mifflin Harcourt (HMH)
- Learning Care Group
- Teachstone
- Head Start
- Council for Professional Recognition
- National Association for the Education of Young Children (NAEYC)
- Lakeshore Learning Materials
- Waldorf schools and associations
- Zero to Three
- Sesame Workshop
- Bright Horizons Foundation for Children
- PBS Kids
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the global early childhood education market is estimated to grow annually at a CAGR of around 8.21% over the forecast period (2023-2030)
- In terms of revenue, the global early childhood education market size was valued at around USD 249.38 billion in 2022 and is projected to reach USD 467.83 billion, by 2030.
- The early childhood education market is projected to grow at a significant rate due to the rising disposable income in emerging economies
- Based on application segmentation, 5 to 8 years was predicted to show maximum market share in the year 2022
- Based on product type segmentation, physical school buildings was the leading segment in 2022
- On the basis of region, North America was the leading revenue generator in 2022
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Key questions answered in this report:
- What is the market size and growth rate forecast for Early Childhood Education industry?
- What are the main driving factors propelling the Early Childhood Education Market forward?
- What are the leading companies in the Early Childhood Education Industry?
- What segments does the Early Childhood Education Market cover?
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application, By Product Type, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America is projected to deliver the best results during the coming market for The global early childhood education market is expected to witness the highest growth in North America since the region holds high importance for ECE programs. There are several types of entities in North America that provide early childhood education including private or public schools along with community-based centers and other programs. For instance, the United States runs the Head Start and Early Head Start programs. These facilities are funded by the federal government and completely free. The curriculum is designed to promote school readiness in infants, preschoolers, and toddlers and has specific eligibility criteria depending on family income and needs. The Early Head Start program provides extensive support to families with children below the age of 3 and pregnant women. On the other hand, the awareness about the benefits of ECE in the US is high, encouraging more parents to send their children to early education centers. Asia-Pacific is projected to emerge as a fast-growing region with a growing middle-income population and a rising number of private players offering sophisticated ECE programs for young children.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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