STEM Education in K-12 Global Market Report 2024

The STEM education market size has grown rapidly in recent years. It will grow from $38.67 billion in 2023 to $44.13 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The expansion during the historical era can be credited to the availability of digital resources, heightened emphasis on STEM in K-12 curriculum, heightened recognition of STEM education's significance in economic advancement, improved STEM education at high school level, and escalated emphasis on STEM education in developing nations.

The STEM education market size is expected to see rapid growth in the next few years. It will grow to $75.55 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The anticipated growth in the upcoming period can be ascribed to the escalating demand for STEM education, burgeoning significance of STEM skills in the employment sphere, emergence of online learning platforms, governmental initiatives and regulations, and parental inclination towards STEM education. Predominant trends in the projected period encompass investments from the private sector, infusion of technology into education, evolution of STEM-related professions, augmented funding for STEM education, and assimilation of emerging technologies.

The increasing demand for online education is poised to drive STEM education in the K-12 market in the foreseeable future. Online education involves delivering educational content and instruction via the internet, and its rising demand is attributed to factors such as flexibility, accessibility, and the quality of remote learning options, driven by technological advancements and evolving learning needs. STEM education often incorporates interactive tools and technologies, such as virtual labs, simulations, and coding platforms, which enhance online learning engagement and hands-on experiences. These tools help students grasp complex concepts through practical application and experimentation. For instance, as reported by the World Economic Forum in January 2022, online education enrollment surged in 2020, more than doubling, and experienced another significant increase of 32% the following year, peaking at 189 million in 2021. Thus, the growing demand for online education fuels the expansion of STEM education in the K-12 market.

Leading companies in the STEM education sector in the K-12 market are focusing on developing innovative solutions, such as Next STEM and Next English offerings, to better prepare students for the demands of the modern workforce. Next STEM and Next English programs aim to provide students with a comprehensive and integrated learning experience that combines technology with interactive tools and advanced assessment systems. For example, in April 2024, Next Education, an India-based company specializing in STEM education, introduced Next STEM and Next English software programs designed to empower students with the latest skills. These innovative programs offer comprehensive learning experiences, nurturing essential 21st-century skills and enabling students to excel in an interconnected, technology-driven world. Next STEM is an integrated Science, Technology, Engineering, and Math (STEM) learning platform that emphasizes hands-on activities, simulations, and interactive tools to engage students in learning. Next English is a comprehensive English learning solution that integrates technology through digital content, advanced assessment systems, and interactive tools, aiming to redefine English language learning for students.

In March 2023, LEAD, an India-based edtech unicorn, acquired a K-12 learning business in India from Pearson India Education Services Private Limited for an undisclosed sum. This strategic acquisition aims to bolster LEAD's product portfolio, enabling it to better serve the varied learning requirements of affordable private schools in smaller towns and high-fee private schools in larger cities. Pearson India Education Services Private Limited, based in India, specializes in providing STEM education in K-12.

Major companies operating in the stem education in K-12 market are Amazon Web Services Inc., Adobe Inc., Stride Inc., Scholastic Inc., K-12 Inc., Cengage Inc., Houghton Mifflin Harcourt, McGraw-Hill Education, School Specialty, D2L corporation, Hurix Systems Pvt. Ltd., Meritnation, Outschool Inc, EduCo International Group, zSpace, Kendall Hunt Publishing Company, PASCO Scientifc, Freeman and Worth Publishing Group LLC, Sphero inc., Istation, Mathspace Pty Ltd., Lab-Aids Inc., Wonder Workshop Inc., International School of London, Innova STEM Education.

North America was the largest region in the stem education in K-12 market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stem education in K-12 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the stem education in K-12 market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

STEM education in K-12 entails an integrated approach to teaching and learning across science, technology, engineering, and mathematics (STEM), with a focus on interdisciplinary learning, critical thinking, problem-solving, and practical, real-world applications. This type of education equips students with the necessary knowledge and skills to thrive in a rapidly evolving, technologically-driven society.

In K-12, STEM education primarily comprises customized live courses, standard recorded courses, and other formats. Customized live courses provide interactive, real-time sessions tailored to the specific requirements and learning pace of individual students or small groups. These courses are delivered through various channels, including online and offline platforms, and are applicable across different educational levels such as elementary school (K-5), middle school (6-8), and high school (9-12).

The stem education in K-12 market research report is one of a series of new reports that provides stem education in K-12market statistics, including stem education in K-12industry global market size, regional shares, competitors with a stem education in K-12market share, detailed stem education in K-12market segments, market trends and opportunities, and any further data you may need to thrive in the stem education in K-12industry. This stem education in K-12market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The STEM education in K-12 market includes revenues earned by entities through math games and puzzles, competition and curriculum development services, parent involvement services, enrichment programs, and evaluation and assessment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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