USD 525.7 Billion K12 Education Market Reach by 2031 Growing at 17.7% CAGR | Top Players Such as -Cengage, K12 & Knewton

Digital transformation, personalized learning, STEAM emphasis, and AR/VR adoption propel the K12 Education market's evolution.

PORTLAND, PORTLAND, OR, UNITED STATE, December 8, 2023 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The USD 525.7 Billion K12 Education Market Reach by 2031 Growing at 17.7% CAGR | Top Players Such as -Cengage, K12 & Knewton." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global k12 education market was valued at USD 103.5 billion in 2021, and is projected to reach USD 525.7 billion by 2031, growing at a CAGR of 17.7% from 2022 to 2031.

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The surge in the use of learning analytics in the educational sector because of spontaneous technical advancements and the increasing implementation of government programs to escalate the standard of K12 education globally. Furthermore, adaptive learning is gaining popularity owing to its various advantages such as coherent feedback mechanisms, the importance of mastery-based learning, resourcing opportunities for formative assistance, and idea mapping.

The K12 education market size is segmented on the basis of type, deployment mode, application, spend analysis, and region. By type, the market is classified into public and private. By deployment mode, the market is divided into cloud and on-premise By application, the market is classified into high school, middle school, and pre-primary school and primary school. By spend analysis, the market is divided into hardware, software, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By spend analysis, the hardware segment generated the highest market share in terms of revenue, providing nearly half of the global K12 education market in 2021. E-learning and software solutions offer integrated corporate resource planning tools that can pave the way for the generation of better courses and more constructive delivery of classes. On the contrary, the software segment is predicted to hold the lion’s share and manifest the highest CAGR of 19.4% over the estimated timeframe. This is mainly because software solutions offer institutions with planned organization resource planning systems that can support faculty members in creating better courses and fruitfully managing classrooms and schools.

Based on deployment mode, the on-premise segment generated the highest market share in 2021, contributing to nearly three-fifths of the global K12 education market revenue, and is predicted to continue steady growth during the forecast period. This is mainly because it is easily possible to provide a high level of security with an on-premises solution for schools. However, the cloud segment is predicted to rise at a stunning CAGR of 18.4% over the analysis period. The valuable and affordable features of cloud computing are available to K-12 school districts. These features offer numerous benefits to schools such as the eradication of the need for expensive hardware, improved access and mobility, and lower data storage costs.

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Based on region, North America generated the largest market share in 2021, delivering more than two-fifths of the global K12 education market revenue, and is predicted to continue promising growth over the estimated period. This growth is mainly due to the increasing emphasis on minimizing the administrative load on teachers, huge spending on EdTech, the growing need for personalized learning in classrooms, and the surging demand for advanced solutions to foster students’ school achievement. On the contrary, the market in the Asia-Pacific region is predicted to grow at the fastest CAGR of 19.2% over the analysis timeframe. This is mainly due to the extensive adoption of online learning by millions of students across the region. Many nations in the region have created their entire K-12 curriculum over online platforms.

The key players for K12 education analysis in this report include IBM Corporation, Adobe, Microsoft Corporation, Samsung, D2L Corporation, Oracle Corporation, Pearson Media Company, Knewton, Cengage Group, and Smart Technologies.

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COVID-19 Scenario:

● The COVID-19 epidemic had a significant impact on almost every sector of life, including schooling. A majority of countries, including the United States, closed their schools in March 2020, as lockdown mechanisms were developed to halt the spread of the virus.

● Numerous challenges arose as educators transitioned from traditional face-to-face learning to digital platforms for remote teaching, needing quick responses and changes to policy and procedures to provide equitable and appropriate remote learning to all students.

● Governments all across the world worked to develop open-source e-learning solutions so that all kids can receive an education regardless of their technical limitations. As a result, the COVID-19 epidemic had a prominent impact on the K–12 schooling market.

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