Driving School Market Analysis 2024 - Global Insights, Industry Demand, Growth Trends And Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global Driving School 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 driving school market size has grown steadily in recent years. It will grow from $94.32 billion in 2023 to $98.71 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to reduced fuel consumption, an increase in the need for effective management tools, a rise in safe driving practices, and an increase in the number of vehicles.

The driving school market size is expected to see strong growth in the next few years. It will grow to $119.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to rising road accidents, adoption of eco-friendly and alternative modes of transportation, increasing population of young drivers, and rising demand for driving education and licenses. Major trends in the forecast period include technological innovations, digital transition in education, online learning, integration of virtual reality, and eco-driving techniques.

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Market Drivers and Trends:

The increasing population of young drivers is expected to propel the growth of the driving school market going forward. Young drivers refer to individuals, typically between the ages of 16 and 25, who are newly licensed or have limited driving experience. The population of young drivers is rising as more young people reach legal driving age and seek greater mobility, fueled by economic growth that enables them to afford driving lessons and vehicles. Driving schools benefit young drivers by offering comprehensive training in road safety, driving skills, and traffic laws, helping them gain the confidence and knowledge needed for safe driving and license acquisition. For instance, according to the National Safety Council (NSC), a US-based nonprofit organization dedicated to eliminating preventable deaths and injuries in the United States, the number of young drivers (aged 15 to 20) in the US increased from 2,133 in 2021 to 2,334 in 2022. Therefore, the increasing population of young drivers is driving the growth of the driving school market.

Major companies operating in the driving school market are focusing on developing innovative solutions, such as online platforms for driving education, to enhance accessibility and convenience for learners and improve overall instructional quality through digital tools. Online platforms for driving education refer to digital services and websites that offer courses, instructional materials, and practice tests to help individuals learn driving theory, road safety rules, and driving skills. For instance, in June 2022, Kruzee, a Canada-based online driving school, launched Canada's first online driver's education platform to revolutionize the driving school experience. The comprehensive platform allows students to easily book lessons with vetted instructors, complete theory courses at their own pace, and benefit from a ministry-approved curriculum, all while prioritizing safety and transparency. By leveraging technology, Kruzee aims to address the inefficiencies and outdated practices prevalent in traditional driving schools, providing a more engaging, accessible, and convenient learning experience for aspiring drivers across Canada.

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Major Key Players of the Market:

AA Driving School, Young Drivers of Canada, Red Driving School, Bill Plant Driving School, Pass N Go Driving School, LTrent Driving School, Safeway Driving School, 911 Driving School, A to Z Driving School, ACE Driving School, Advance Driving Academy, All Seasons Driving School, Behind the Wheel Driving School, Champion Driving School, Drive Dynamics, Drive Johnson's Driving School, Elite Driving School, EZ Learning Driving School, First Choice Driving School, Metro Driving Academy, One 2 One Driving School, Pass Plus Driving School, RyO's Driving School, Streetwise Driving School, Topgear Driving School

Driving School Market 2024 Key Insights:

• The driving school market size is expected to see strong growth in the next few years. It will grow to $119.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• Rising Population Of Young Drivers Fuels Growth In Driving School Market
• The Rise Of Online Learning Platforms In The Driving School Market
• North America was the largest region in the driving school market in 2023

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