The K-12 makerspace material market size has grown strongly in recent years. It will grow from $0.93 billion in 2023 to $1.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increased parental demand, focus on sustainability, market expansion into new regions, increased funding from private organizations, integration of makerspaces in educational curriculum.
The K-12 makerspace material market size is expected to see strong growth in the next few years. It will grow to $1.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing focus on stem education, benefits of makerspaces, rising government funding, growth of after-school programs, focus on personalized learning. Major trends in the forecast period include technological advancements, integration of EdTech, introduction of drones, development and integration of 3d printing technologies, integration of virtual and augmented reality.
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Scope Of K-12 Makerspace Materials Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
K-12 Makerspace Materials Market Overview
Market Drivers –
The rising demand for online education is expected to propel the K-12 makerspace materials market going forward. Online education refers to delivering educational content and instruction via the internet. The demand for online education is rising due to its flexibility, accessibility, and quality of remote learning options, driven by technological advancements and evolving learning needs. The makerspace materials complement online education by providing students with hands-on learning opportunities, fostering creativity and innovation, promoting collaboration, and preparing them for success in an increasingly digital and technology-driven world. For instance, in January 2022, according to the World Economic Forum, a Switzerland-based non-governmental organization, online education enrollment surged in 2020, more than doubling, and then experienced another substantial increase of 32% the subsequent year, reaching a peak of 189 million in 2021. Therefore, the rising demand for online education drives the growth of the -12 makerspace materials market.
Market Trends –
Major companies operating in the K-12 makerspace materials market are developing advanced solutions, such as an AI-based curriculum, to enhance STEM education and foster student innovation. AI-based curriculum leverages AI algorithms and tools to personalize instruction, adapt to individual student needs, provide real-time feedback, and optimize learning outcomes. For instance, in September 2023, Kinderlab Robotics, a US-based company that offers K-12 marker space materials, launched Thinking with KIBO, an AI curriculum for young learners. The core learning objectives of the curriculum include understanding that AI is a tool made by people, AI systems make decisions based on input and rules, AI doesn’t think like people do and is not alive, and AI can help people solve complex problems. This is aimed at aiding students in grades 1-3 in comprehending the functionality of AI tools and encouraging critical thinking regarding their potential societal implications. The curriculum focuses on elucidating the workings of AI to children through interactive exercises featuring the KIBO robot.
The k-12 makerspace materials market covered in this report is segmented –
1) By Product Type: Robotic Toolkit, Construction Materials, Art And Craft Materials, Other Materials
2) By Application: Prе-Рrіmаrу Sсhооl, Prіmаrу Sсhооl, Middle Sсhооl, High Sсhооl
3) By End-User: Classroom, Cafeteria, Library, Office, Other End-Users
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Regional Insights –
Asia-Pacific was the largest region in the K-12 makerspace materials market in 2023. The regions covered in the K-12 makerspace materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the K-12 makerspace materials market are Autodesk Inc., Follett Corp., Crayola LLC, Stratasys Ltd., Lakeshore Learning Materials, Makerbot Industries LLC, Hand2Mind, Makeblock Co. Ltd., Innovation First International Inc., Ozobot, SparkFun, Pitsco Inc., Sphero Inc., Osmo, Wonder Workshop Inc., Eduporium inc., Sakura, Kano Technology, FableVision Inc., Prisma Colour Ltd., LEGO Group, BirdBrain Technologies LLC, Engino Ltd., Makey Makey LLC, Thames & Kosmos LLC
Table of Contents
1. Executive Summary
2. K-12 Makerspace Materials Market Report Structure
3. K-12 Makerspace Materials Market Trends And Strategies
4. K-12 Makerspace Materials Market – Macro Economic Scenario
5. K-12 Makerspace Materials Market Size And Growth
…..
27. K-12 Makerspace Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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