Categories: Market Research

Secondary School Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Secondary School Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Secondary School Global Market Report 2024, The secondary school market size has grown strongly in recent years. It will grow from $437.06 billion in 2023 to $476.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to population growth and demographics, economic development, government education policies, parental aspirations for education, globalization and competition.

The secondary school market size is expected to see strong growth in the next few years. It will grow to $662.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to personalized learning approaches, STEM education emphasis, global citizenship education, workforce skill development, inclusive education practices. Major trends in the forecast period include public-private partnerships (PPPs), technology-enhanced learning, technological integration, digital learning integration, project-based learning.

The increasing demand for educational services is expected to propel the growth of the secondary school market going forward. Educational services refer to services provided by certain public or private establishments to train or provide instruction-based learning on any subject to students or other individuals. These educational services are provided by certain public or private establishments such as primary schools, elementary schools, secondary schools, and colleges. Therefore, the increasing demand for educational services is driving the growth of the secondary school market. For instance, in February 2023, according to the Australian Bureau of Statistics, an Australia-based autonomous constitutional agency responsible for collecting and analyzing data and presenting suggestions based on evidence to the national, state, and regional governments, in Australia, 4,042,512 students were pursuing education in schools in 2022, which represents a rise of 11,795 students (0.3%) from 2021. The increasing student enrollment will impact the demand for educational services, thus driving the secondary school market.

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The secondary school market covered in this report is segmented –

1) By Type Of Expenditure: Public, Private

2) By Ownership: Government, Local Body, Others

3) By Fee Structure: Low-Income, Medium-Income, High-Income

Major companies operating in the secondary school market are focusing on advanced solutions, such as advanced teaching platforms, to better meet the needs of their existing consumers. An advanced teaching platform is a complex and technologically driven system that offers instructors tools and resources to improve the learning and teaching experience. For instance, in March 2022, Extramarks Education, an India-based education technology company, launched The Teaching App. The Teaching App is an innovative teaching platform that provides school instructors, private teachers, home tutors, and coaching staff around the country with the benefits of an immersive live classroom teaching experience. The Teaching App provides a one-stop shop for all teaching needs. The Teaching App provides revolutionary tools for school instructors and home tutors to build, organize, and track their whole live curriculum on a single platform while streamlining monotonous and manual documentation activities. The app allows instructors to design, assign, and customize exams while also providing paid access to over a million questions in the Extramarks database. The software also allows for notification personalization, making the whole educational process dynamic, engaging, and enjoyable.

The secondary school market report table of contents includes: