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Primary School Market Size, Share & Competitive Trends 2024-2033
Primary School Market Size
According to The Business Research Company's, The primary school market size has grown strongly in recent years. It will grow from $719.96 billion in 2023 to $790.51 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to population growth, government education policies, societal importance of education, urbanization trends, economic development..
The primary school market size is expected to see strong growth in the next few years. It will grow to $1132.57 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to global education goals, government investments in education, societal awareness of education benefits, technological integration in education, demographic changes.. Major trends in the forecast period include social and emotional learning (sel), global citizenship education, hybrid learning models, assessment innovation, parental involvement and communication, focus on well-being and mental health..
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Market Drivers and Trends:
The government initiatives and schemes to support education is expected to propel the growth of primary school market going forward. Government initiatives increase school accessibility, provide financial support, focus on teacher training, offer free education programs, invest in infrastructure development, integrate technology, promote inclusive education, implement nutrition programs, enforce quality standards, and engage communities. Together, these efforts create a conducive environment for the expansion and improvement of the primary education sector. For instance, in July 2021, according to Department of School Education and Literacy, an India-based government department, The Right of Children to Free and Compulsory Education (RTE) Act, 2009, implemented in India since April 1, 2010, establishes the fundamental right of children in the age group of six to fourteen years to receive free and compulsory elementary education in a formal school. Therefore, the government initiatives and schemes are driving the growth of primary school market.
Technological advancement is a key trend gaining popularity in the primary school market. Major companies operating in the primary school market are focused on developing new technological solutions to strengthen their position. For instance, in May 2022, Tata Class Edge, an India-based company and the Furtados School of Music, an India-based music company, partnered to provide the best educational experience to schools via the use of technology and music. By combining it with the expertise and resources of TATA Class Edge in the K-12 educational industry, Furtados School of Music has chosen to increase the accessibility of this music teaching technique.
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Major Key Players of the Market:
Pearson plc; Cengage Learning India Pvt. Ltd.; Stride Inc.; Blackboard Inc.; Tata Class Edge; D2L Corporation; NextEducation India Pvt. Ltd.; TAL Education Group; Hailiang Education Group; Bright Horizon; Whitehill Primary School; Briar Hill Primary School; Gascoigne Primary School; Deanshanger Primary School; William Davies Primary School; McGraw-Hill Education; Houghton Mifflin Harcourt; Educomp Solutions Ltd.; Scholastic Corporation; Benesse Corporation; GEMS Education; Nord Anglia Education; Kumon Institute of Education; The Learning Experience; Zaner-Bloser Inc.; Educational Initiatives Pvt. Ltd.; K12 Inc.; Laureate Education Inc.; Ambow Education Holding Ltd.; Primrose Schools
Primary School Market 2024 Key Insights:
• The primary school market will grow to $1132.57 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Government Initiatives And Schemes To Drive Market Growth
• Technological Advancements Driving Innovation In Primary School Market
• Asia-Pacific was the largest region in the primary school market in 2023 and is expected to be the fastest-growing region in the primary school market report during the forecast period
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