K-12 Online Education Market

K-12 Online Education Market Size, Share, Growth (2023-2028)

K-12 online Education Market size was estimated at USD 720 billion in 2023, and it is predicted to register USD 2,447 by 2028, at a CAGR of 33.0%.

Overview:

The K12 is an education management platform that offers online learning opportunities and curricula. The K12 course materials are aimed at students in Kindergarten through grade 12. K–12 learning management systems focus on the classroom, teacher, and student experiences. They specialize in assisting instructors in developing and managing course materials, frequently concerning assessment management. LMSs also allow parents and parents to monitor their children's academic progress. The K-12 Online Learning Solutions provides online and blended solutions to schools and districts that deal with the issues of access, equity, individualized instruction, and future readiness. Students can interact with teachers and instructors directly through online Learning. In addition, the advanced technological platform, extensive digital courseware, and consultative assistance will enable students with a better future. 

K-12 Online Education Market Drivers and Restraints

Shifting traditional education systems to the digital education system in the recent period is driving the market for K-12 Online education market growth. Also, governments across the globe are promoting online K12 Learning owing to the emergence of the global pandemic COVID-19.In addition, globalization is leading to having a positive impact on the online education market. Online education enables students to communicate directly with teachers and instructors—the increasing initiatives by private organizations to promote Online education. Hence private organization is increasing their support to educational institutions to adopt digital learning technologies. Online Education offers innovative, affordable, and scalable solutions to students; owing to these benefits, the market is expected to boost the market. Further, the technological advancements in the Education system are supporting the market growth. The advancements include big data. The Growing demand for big data is increasing the popularity of learning analytics in the educational industry. In addition, the growing applications provide a personalized form of Learning. As a result, Key companies are developing innovative online educational platforms. Increasing acceptance of virtual Learning by teachers, students, and parents are likely to accelerate the market growth. In addition, features such as time and cost-saving also offer students competency-based Learning. Moreover, the growing awareness among the people in the urban areas positively influences the market growth. Digital education systems are expected to benefit from artificial intelligence significantly. AI algorithms offer personalized content depending on student performance, profile, and active behaviour. In order to track progress, it can also produce helpful content in the form of tests, quizzes, and videos. Lack of face-to-face communication limits the online education market. Inability to interact face-to-face with the instructor prevents students from providing feedback, creates social isolation, and may make them feel less under pressure.

Impact of COVID-19 ON K-12 Online Education market

The Sudden emergence of the global pandemic COVID-19 has positively impacted the K-12 Online education market. Due to the high prevalence of viruses globally, many schools and educational institutions have been shut down. Globally, over 1.2 billion children are out of the classroom. As a result, education systems have drastically changed. The rising demand for e-learning has made institutions adopt online education, increasing the remote and digital platforms. However, many people around the world are concerned about whether the acceptance of online Learning will continue to endure post-pandemic and how such a shift will affect the global education sector in light of this abrupt move away from the classroom.

K-12 ONLINE EDUCATION MARKET REPORT COVERAGE:

K-12 Online Education Market Segmentation

By Grade:

• Kindergarten, Elementary 

• Middle School 

• High school 

Based on Grade, the high school students held the largest market share over the forecast period because they are more responsive to online Learning and can grab the activities quickly. In addition, the online school platform uses cutting-edge technology to make Learning engaging, while the virtual high school curriculum is based on the theories of how kids learn.

By Platform:

• Gamification 

• Mobile

• Tablet 

• Laptops / Chrome Books 

• Others 

• Big Data & Analytics 

• LMS / Virtual Learning Environments 

• Other 

By Deployment Mode: 

• Cloud 

• On-Premises

K-12 Online Education Market Regional Analysis

North America and Europe are anticipated to record a significant share in the K-12 Online educational market. The presence of key market players, high disposable income, and adoption of advanced technology are pushing the market growth. As per the market reports, North America and Europe account for 40% of global market revenue. 

The United States is projected to showcase staggering growth in the North American K-12 online Education market. Factors such as the growing awareness about e-learning and technological advancements are boosting the market growth. In addition, the high penetration of the internet and AI technology is providing students with a new experience in Learning.

The Asia Pacific is growing at a faster CAGR during the forecast period. The growing acceptance of online education and increasing initiatives by the regional governments support the market. Further, the emerging countries in the region, such as Japan, China, India, and Malaysia, are significantly contributing to the APAC regional market growth. 

The Indian K-12 Online Education market is witnessing rapid share in the Asia Pacific region as the recent COVID-19 outbreak has increased the demand for online education. In addition, private and government organizations are increasing their support to promote online education, positively influencing the country's market growth.

Recent market developments

• Oracle Corporation offered more than 50 hours of online training and six certification examinations for its Oracle Autonomous Database and Cloud Infrastructure in March 2020.

• In May 2020 - During the coronavirus epidemic, K12 Inc. gave more than 150,000 US students, families, and teachers access to free educational and instructional tools and resources. 

• In May 2020, The K12 inc. gave access to Free educational resources and tools to US students, teachers, and families during the Coronavirus pandemic. In addition, the company assists students and instructors in returning to school this academic year despite widespread school closures.

• The finance minister of India allotted $13.4 billion (993 billion) for the education sector in February 2020. Out of this, $405 million (about $30 billion) was set up for skill-development initiatives, and the New Education Policy has also seen the addition of nearly 200,000 new positions.

Key players 

1. Bettermarks

2. Scoyo

3. Languagenut

4. Beness Holding, Inc

5. New Oriental Education & Technology

6. AMBO

7. XUEDA

8. Ifdoo

9. CDEL

10. XRS