K-12 Makerspace Materials Market Share: Key Insights and Forecast to 2033

The Business Research Company recently released a comprehensive report on the Global K-12 Makerspace Materials Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The K-12 makerspace material market size has grown strongly in recent years. It will grow from $0.93 billion in 2023 to $1.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increased parental demand, focus on sustainability, market expansion into new regions, increased funding from private organizations, integration of makerspaces in educational curriculum.

The K-12 makerspace material market size is expected to see strong growth in the next few years. It will grow to $1.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing focus on stem education, benefits of makerspaces, rising government funding, growth of after-school programs, focus on personalized learning. Major trends in the forecast period include technological advancements, integration of EdTech, introduction of drones, development and integration of 3d printing technologies, integration of virtual and augmented reality.

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Market Drivers and Trends:

The growing significance of digitalization is expected to propel the growth of the K-12 online education market going forward. Digitalization is converting information, data, or physical objects into a digital format that computers can quickly process, store, and transmit. The growing significance of digitalization is due to increased brand awareness and visibility, enhanced customer engagement, improved customer support, and cost-effective marketing. K-12 online education catalyzes the digitalization of education by harnessing technology to enhance teaching and learning processes, promote accessibility and inclusivity, and prepare students for success in the digital age. For instance, in February 2024, according to a report published by the UK government, in 2022, provisional estimates indicate that the digital sector contributed $171.25 million to the UK economy, accounting for 7.2% of the total UK gross value added (GVA), represents an increase of 7.1% in 2021. Therefore, the growing significance of digitalization is driving the growth of the K-12 online education market.

Major companies operating in the K-12 makerspace materials market are developing advanced solutions, such as an AI-based curriculum, to enhance STEM education and foster student innovation. AI-based curriculum leverages AI algorithms and tools to personalize instruction, adapt to individual student needs, provide real-time feedback, and optimize learning outcomes. For instance, in September 2023, Kinderlab Robotics, a US-based company that offers K-12 marker space materials, launched Thinking with KIBO, an AI curriculum for young learners. The core learning objectives of the curriculum include understanding that AI is a tool made by people, AI systems make decisions based on input and rules, AI doesn't think like people do and is not alive, and AI can help people solve complex problems. This is aimed at aiding students in grades 1-3 in comprehending the functionality of AI tools and encouraging critical thinking regarding their potential societal implications. The curriculum focuses on elucidating the workings of AI to children through interactive exercises featuring the KIBO robot.

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Major Key Players of the Market:

Autodesk Inc., Follett Corp., Crayola LLC, Stratasys Ltd., Lakeshore Learning Materials, Makerbot Industries LLC, Hand2Mind, Makeblock Co. Ltd., Innovation First International Inc., Ozobot, SparkFun, Pitsco Inc., Sphero Inc., Osmo, Wonder Workshop Inc., Eduporium inc., Sakura, Kano Technology, FableVision Inc., Prisma Colour Ltd., LEGO Group, BirdBrain Technologies LLC, Engino Ltd., Makey Makey LLC, Thames & Kosmos LLC

K-12 Makerspace Materials Market 2024 Key Insights:

• The K-12 makerspace material market size is expected to see strong growth in the next few years. It will grow to $1.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• Fueling Growth The Intersecting Forces Of Online Education And Digital Language Learning
• Advancing STEM Education With AI-Based Curriculum In The K-12 Maker Space Materials Market
• Asia-Pacific was the largest region in the K-12 makerspace materials market in 2023

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