Dublin, Dec. 13, 2024 (GLOBE NEWSWIRE) -- The "STEM Education in K-12 Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the STEM education in K-12 market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global STEM education in K-12 market reached a value of nearly $38.7 billion in 2023, having grown at a compound annual growth rate (CAGR) of 9.48% since 2018. The market is expected to grow from $38.8 billion in 2023 to $73.8 billion in 2028 at a rate of 13.80%. The market is then expected to grow at a CAGR of 14.30% from 2028 and reach $144 billion in 2033.
Growth in the historic period resulted from the rising demand for online education, rising internet penetration, rising disposable income and increasing demand for digital literacy. Factors that negatively affected growth in the historic period include a lack of qualified STEM teachers.
Going forward, strong economic growth in emerging markets, favorable government support and funding, growing demand for STEM skills in the workforce, rise of Edtech startups and increased focus on teaching coding and programming skills to K-12 students will drive the market. Factors that could hinder the growth of the STEM education in K-12 market in the future include gender disparity and underrepresentation of girls in STEM fields.
The STEM education in K-12 market is segmented by type into customized live courses, standard recorded courses and other types. The customized live courses market was the largest segment of the STEM education in K-12 market segmented by type, accounting for 40.08% or $15.5 billion of the total in 2023. Going forward, the customized live courses segment is expected to be the fastest growing segment in the STEM education in K-12 market segmented by type, at a CAGR of 14.48% during 2023-2028.
The STEM education in K-12 market is segmented by delivery mode into online and offline. The online market was the largest segment of the STEM education in K-12 market segmented by delivery mode, accounting for 69.34% or $26.8 billion of the total in 2023. Going forward, the online segment is expected to be the fastest growing segment in the STEM education in K-12 market segmented by delivery mode, at a CAGR of 14.21% during 2023-2028.
The STEM education in K-12 market is segmented by application into elementary school (K-5), middle school (6-8) and high school (9-12). The high school (9-12) market was the largest segment of the STEM education in K-12 market segmented by application, accounting for 49.88% or $19.3 billion of the total in 2023. Going forward, the middle school (6-8) segment is expected to be the fastest growing segment in the STEM education in K-12 market segmented by application, at a CAGR of 14.67% during 2023-2028.
North America was the largest region in the STEM education in K-12 market, accounting for 36.08% or $14 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the STEM education in K-12 market will be Asia-Pacific and Africa, where growth will be at CAGRs of 16.33% and 15.56% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 15.29% and 14.65% respectively.
The global STEM education in K-12 market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 13.3% of the total market in 2023. Cengage group was the largest competitor with a 3.89% share of the market, followed by McGraw Hill with 3.10%, Houghton Mifflin Harcourt Company with 2.28%, Activate Learning with 1.38%, Amplify Education, Inc. with 0.70%, BYJU'S with 0.67%, Carolina Biological Supply Co. with 0.52%, Discovery Education with 0.31%, Amazon Web Services Inc. with 0.23% and Macmillan Learning with 0.23%.
The top opportunities in the STEM education in K-12 market segmented by type will arise in the customized live courses segment, which will gain $15 billion of global annual sales by 2028. The top opportunities in the STEM education in K-12 market segmented by delivery mode will arise in the online segment, which will gain $25.3 billion of global annual sales by 2028. The top opportunities in the STEM education in K-12 market segmented by application will arise in the high school (9-12) segment, which will gain $17.3 billion of global annual sales by 2028. The STEM education in K-12 market size will gain the most in the USA at $9.2 billion.
To take advantage of the opportunities, the analyst recommends STEM education in K-12 companies to focus on innovative stem solutions, focus on expanding offline learning centers, focus on innovative DIY kits, focus on customized live courses, focus on strategic partnerships, focus on the online segment, expand in emerging markets, focus on value-based pricing strategies, focus on targeted digital marketing campaigns, focus on community engagement initiatives and focus on the middle school segment.
Markets Covered:
1) by Type: Customized Live Courses; Standard Recorded Courses; Other Types
2) by Delivery Mode: Online; Offline
3) by Application: Elementary School (K-5); Middle School (6-8); High School (9-12)
Key Companies Profiled: Cengage Group; McGraw Hill; Houghton Mifflin Harcourt Company; Activate Learning; Amplify Education, Inc.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; STEM education in K-12 indicators comparison.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2023-2033 |
| Estimated Market Value (USD) in 2023 | $38.7 Billion |
| Forecasted Market Value (USD) by 2033 | $144 Billion |
| Compound Annual Growth Rate | 14% |
| Regions Covered | Global |
List of Companies Profiled in this STEM Education in K-12 Market Report
- Cengage Group
- McGraw Hill
- Houghton Mifflin Harcourt Company
- Activate Learning
- Amplify Education, Inc.
- BYJU'S
- Carolina Biological Supply Co.
- Discovery Education
- Amazon Web Services Inc.
- Macmillan Learning
- Spark Education Group
- Pearson
- STEMROBO
- LEAD
- Yuanfudao
- Next Education
- Tsinghua Tongfang
- Xueersi (TAL Education Group)
- Makeblock
- Raspberry Pi Computing Education Research
- Micro Educational Foundation
- Avantis Education
- STEM Learning Ltd.
- Skriware
- K-12 Inc.
- McGraw-Hill Education
- IBM
- Cognizant
- USC Viterbi School of Engineering
- iD Tech
- Imagination Station
- STEM Minds
- Carolina Biological Supply Company
- Learning Resources, Inc.
- STEMfinity
- LittleBits
- K12 Inc.
- CueThink
- RW Thrive
- BirdBrain Technologies
- Tynker
- STM Education
- Robotic Games Turkey
- EduTech Middle East
- STEM Egitim Turkiye
- Geek Express
- iSchool Egypt
- Edufun Technik
- Renaissance Innovation Labs
For more information about this report visit https://www.researchandmarkets.com/r/xe4w48
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