According to a Facts and Factors market report, the global K-12 Private Education market was USD 2,081 Billion in 2020, with revenues expected to reach around USD 2,935 Billion by the end of 2026, increasing at a CAGR of around 5.9% from 2021 to 2026.
K–12 stands for kindergarten to 12th grade. The education sector includes institutions to provide learning and training experiences in a variety of subjects. The development of the k-12 private education industry is supposed to have driven the growth of the use of educational technology (EdTech) resources in the academic and non-academy sectors. EdTech products and offerings have been accepted more and more in the K-12 and higher education markets.
Top Market Players
The key players in the K-12 Private Education market are Nadeen International School, Dhuha International School, Adobe Systems, Blackboard Inc., British International School of Jeddah, Cengage Learning India Pvt. Ltd., Educomp Solutions, K12 Inc., McGraw-Hill Education, Next Education India Pvt. Ltd., Pearson Education Inc., TAL Education Group, Tata Class Edge, Al- Jazeera Academy, GEMS Education, Dubai International Academy, International School of London, and Taaleem.
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Increasing approach to improving the educational outcomes of students
The demand is led by schools moving to a learning atmosphere from the conventional blackboard approach to integration with smart technologies. A wide variety of programs, resources, and services aimed at improving student academic outcomes are covered in the learning trend.
STEM training demand has been boosted by increased career possibilities in the areas of science, technology, engineering and mathematics. Students who have successfully obtained a high degree of competition are qualified to join higher schools. This makes parents, students and different partners in schools around the world more focused on STEM basic education.
The popularity of learning analytics in the educational sector has grown, such as technical innovations and the use of big data. The use of LA encourages educational establishments to provide a customized method of learning. Besides, robotics may also support children who are educated at home or who are not enough supplies for human experts. In 2019, some 500 classrooms in Japanese were launched to fulfill this function in English-speaking robots, for example. A robot, Robosem, teaches English in South Korea where trained teachers are uncommon.
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Private K-12 education efficiency program worldwide is projected to fuel business development. Saudi Arabia, for example, aims to boost private learning by 25 percent by 2030, according to its ‘Vision 2030. To accomplish this, the government in 2017 has also allowed the owner’s constraints on foreign companies to be steadily reduced in order to establish joint ventures with local partners by 100% foreign company ownership. The world’s private K-12 suppliers would be driven. The ongoing epidemic of COVID-19 has affected the education sector globally. The pandemic is expected to have huge economic impacts and also catastrophic effects on global education. As of 23 March 2020, 1.3 billion students worldwide do not attend schools, according to recent estimates published by UNESCO.
Asia Pacific Region Dominates the Global K-12 Private Education Market
With millions of learner’s online learning in the Asia-Pacific, the K-12 private education sector is rising fast. Several countries place their whole program K-12 online. Development is primarily led by countries such as China, India, Indonesia, and Malaysia. Several factors contributing to the K-12 private education market growth in this area are the increasing need for competitive test preparation and standardization. STEM’s growing rivalry would also fuel demand for the K-12 private education sector. In the forecast timeframe, different government initiatives by a large number of countries in the region are projected to boost the demand. For example, the Indian government plans to set up the Atal Tinkering Laboratories (ATLs) in schools across the country in order for young children to be able to promote ingenuity, enthusiasm, and imagination. It also helps children to instill computational, architecture, adaptive and technological abilities, and so forth. Under this initiative, children will have the opportunity to learn the fundamental and sophisticated definition of STEM with different techniques and equipment (Science, Technology, Engineering, and Math). ATL students have training and learning kits and science tools consisting of robots, electronics, free-source microcontroller panels, 3D printer sensors, and computers.
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