Global K-12 Online Education Market Analysis 2024: Size Forecast and Growth Prospects

The K-12 online education market size has grown exponentially in recent years. It will grow from $103.42 billion in 2023 to $126.52billion in 2024 at a compound annual growth rate (CAGR) of 22.3%.  The growth in the historic period can be attributed to enhanced engagement, increased accessibility, rise of mobile learning, improved teacher training, increased parental involvement.

The K-12 online education market size is expected to see exponential growth in the next few years. It will grow to $285.83 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%.  The growth in the forecast period can be attributed to growing demand for personalized learning, cost-effective, flexibility in scheduling, growing demand for stem education, growing demand for online tutoring. Major trends in the forecast period include advancements in learning management systems, improved data analytics, enhanced collaboration tools, use of artificial intelligence (AI), and use of virtual and augmented reality.

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Scope Of K-12 Online Education 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 Online Education Market Overview

Market Drivers –
The growing significance of digitalization is expected to propel the growth of the K-12 online education market going forward. Digitalization is converting information, data, or physical objects into a digital format that computers can quickly process, store, and transmit. The growing significance of digitalization is due to increased brand awareness and visibility, enhanced customer engagement, improved customer support, and cost-effective marketing. K-12 online education catalyzes the digitalization of education by harnessing technology to enhance teaching and learning processes, promote accessibility and inclusivity, and prepare students for success in the digital age. For instance, in February 2024, according to a report published by the UK government, in 2022, provisional estimates indicate that the digital sector contributed $171.25 million to the UK economy, accounting for 7.2% of the total UK gross value added (GVA), represents an increase of 7.1% in 2021. Therefore, the growing significance of digitalization is driving the growth of the K-12 online education market.

Market Trends –
Major companies operating in the K-12 online education market are focusing on developing advanced solutions, such as K-12 Artificial Intelligence (AI) based courses, to stay ahead of the curve and equip students and educators with the skills necessary for the future. K-12 Artificial Intelligence (AI) based courses are educational programs designed to introduce students from kindergarten through 12th grade to artificial intelligence’s concepts, applications, and implications. For instance, in May 2024, CodeHS, a US-based online education platform, launched the CodeHS AI curriculum, a new K-12 Artificial Intelligence (AI) curriculum, and professional development courses. The new AI curriculum includes several introductory courses for middle and high schools and dozens of projects for grades K-12 that can be incorporated as a standalone course or integrated into existing courses. This course imparts crucial programming concepts to students, empowering them to utilize AI effectively in both computer science and broader societal contexts. It is structured to establish a solid understanding of AI and its practical applications, laying the groundwork for students to pursue more advanced AI courses later.

The k-12 online education market covered in this report is segmented –
1) By Components: Solutions, Services
2) By Grade: Kindergarten, Elementary, Middle School, High School
3) By Deployment: Cloud, On-Premises
4) By Platform: Gamification, Mobile, Tablet, Laptops Or Chrome Books, Big Data And Analytics, LMS Or Virtual Learning Environments, Other Platforms
5) By End User: Schools, Individuals, Private Tutors

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Regional Insights –
North America was the largest region in the K-12 online education market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the K-12 online education 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 online education market are  Pearson Plc, Bright Horizons, Stride Inc., Scholastic Inc., Cengage Inc., GEMS Education, TAL Education Group, Houghton Mifflin Harcourt, McGraw-Hill Education, GoStudent, Chegg, Blackboard , Cognita, BYJU’s, Instructure Inc., Amplify, Great Minds, Duolingo, Lightspeed Systems Inc., Hurix Systems Pvt. Ltd., EverFi, Newsela, Dreambox Learning, NoRedInk.com

Table of Contents
1. Executive Summary
2. K-12 Online Education Market Report Structure
3. K-12 Online Education Market Trends And Strategies
4. K-12 Online Education Market – Macro Economic Scenario
5. K-12 Online Education Market Size And Growth
…..
27. K-12 Online Education Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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