K-12 Education - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Key Highlights

• The increasing popularity of online education due to its benefits, such as giving students more valuable and video-based content for a better understanding of the subjects in K-12 schools, is driving the market growth of digital learning solutions worldwide. For instance, in September 2023, Adobe, the American multinational computer software company, partnered with India's Ministry of Education to provide schools with Adobe Express-based curriculum, training, and certification. The initiative plans to cover 20 million students and 500,000 educators across India by 2027, showing the increasing adoption of software tool-based education in K-12 institutions. Such developments are expected to drive the growth of the market studied.
• The popularity of online learning has seen substantial growth during and after the COVID-19 pandemic, largely governed by the growth in a number of online learning platforms, coupled with benefits such as accessibility, flexibility, and affordability. In addition, the rise of online education in the K-12 sector has revolutionized the education sector, leading to the emergence of new online learning platforms and delivery methods. The growth in internet penetration and smartphone penetration has emerged as a driver for the growing popularity of online learning in K-12 schools.
• Online education can also provide students with more opportunities. This includes allowing them to study at an international institution without having to travel or move abroad. This method of learning is also more cost-effective because it cuts out the need for the student to travel to attend classes or, in some cases, the need to purchase textbooks.
• However, the lack of digital infrastructures, the presence of digital divides, and the unavailability of supporting internet infrastructure in many rural and sub-urban parts of the world, especially in underdeveloped and developing economies, are restricting the growth of e-learning, hampering the growth of the K-12 education market.
• The high growth and adoption of education technology during the COVID-19 pandemic, which includes the development of language apps, virtual tutoring, video conferencing tools, and online learning software to support continuous learning in the K-12 schools amidst the global lockdown and social distancing, has raised the demand for online teaching methods and fueled the market's growth. The World Bank stated that the COVID-19 pandemic disrupted education in over 150 countries and affected 1.6 billion students. Many countries implemented remote learning as an emergency response, which boosted the K-12 education market worldwide. The increasing trend of digitalization in classroom learning programs supports the market's growth.

K-12 Education Market Trends

Public K-12 Education Segment to Witness Major Growth

• There has been widespread adoption of learning management systems in public schools, and countries worldwide are adopting e-learning in public K-12 education to create a digital education framework, driving the growth of the education market in K-12 public schools.
• The market has been seeing collaboration among the market vendors to increase their capabilities and support market growth. For instance, in October 2023, Open LMS, a provider of open-source learning management systems (LMS) in the United States, partnered with Blindside Networks, the creators of BigBlueButton, a purpose-built virtual classroom software that focuses on learning outcomes. This partnership would enable Open LMS to offer an education-first virtual classroom for government K-12 education institutions, showing the demand for LMS solutions in public schools. This is expected to fuel the K-12 Education Market during the forecast period.
• Further, public schools in developed countries such as the United States are offering training on digital literacy for students and offering the infrastructure needed for online learning, which could positively impact the growth of the K-12 education market. For instance, according to the survey results released by the United States Department of Education’s National Center for Education Statistics (NCES), there are far more public school students than private school students in the United States. By 2031, it is estimated that about 10.3 million students will be enrolled in private schools in the United States. This figure will stand close to 61.67 million for public school students.
• Therefore, the increasing investments and priority by the governments of various countries to support digitalization adoption in public K-12 schools for better management of the learning process are expected to fuel the market growth of K-12 education worldwide in public schools during the forecast period.

Asia-Pacific to Hold Significant Market Share

• The demand for K-12 education in the Asia-Pacific region has experienced remarkable growth, propelled by various factors highlighting the significance of quality education in developing nations. Several key trends contribute to the increasing demand for K-12 education across Asia-Pacific.
• South and Southeast Asia represent one-third of the world's population, with rapidly growing economies and populations. Densely populated and with a younger average age than many developed nations, the opportunity to bring a digital education transformation to these dynamic populations can create a broad impact and improve the educational experience and livelihoods of millions.
• Asia-Pacific countries are integrating education technologies into their education systems. Due to this, a growing demand for schools leveraging technology to enhance learning experiences has been seen. Online platforms, interactive content, and digital tools are becoming integral components of modern K-12 education in the region.
• For instance, in May 2023, TAL Education Group, a Chinese education company and provider of after-school education and tutoring services for students, announced that the company is creating MathGPT, a large-scale mathematical model. This model is intended for math aficionados and research institutes, with problem-solving and teaching algorithms at its core.
• With increased globalization, there is a growing interest in providing students with a global perspective. International schools that offer a curriculum that combines local and global elements are gaining popularity. Parents seek schools that prepare their children to thrive in a diverse and interconnected world.
• Hence, the growing demand for K-12 education in the Asia-Pacific region is driven by demographic shifts, economic development, technological advancements, a focus on English proficiency, globalization trends, government initiatives, and the pursuit of high-quality education. This demand will continue evolving as the region positions itself as a key player in the global education landscape.

K-12 Education Industry Overview

• July 2023: VUS, an education center in Vietnam, partnered with global education company McGraw Hill to introduce a Critical Math program based on McGraw Hill’s Reveal Math, a leading K–12 math program, to pre-primary and primary children in Vietnam.
• June 2023: Pearson, a learning company, announced that Connections Academy, its K-12 online school program, will expand its slate of college and career readiness initiatives for middle and high school students. The initiatives include partnerships with Coursera, an online learning platform; Acadeum, a course-sharing network in higher education; eDynamic Learning, a provider of career technical education for middle and high school students; and Credly, a global provider of digital credentialing.

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