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Secondary School Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Secondary School Market Size
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According to The Business Research Company's, The secondary school market size has grown strongly in recent years. It will grow from $437.06 billion in 2023 to $476.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to population growth and demographics, economic development, government education policies, parental aspirations for education, globalization and competition.
The secondary school market size is expected to see strong growth in the next few years. It will grow to $662.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to personalized learning approaches, STEM education emphasis, global citizenship education, workforce skill development, inclusive education practices. Major trends in the forecast period include public-private partnerships (PPPs), technology-enhanced learning, technological integration, digital learning integration, project-based learning.
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Market Drivers and Trends:
The increasing demand for educational services is expected to propel the growth of the secondary school market going forward. Educational services refer to services provided by certain public or private establishments to train or provide instruction-based learning on any subject to students or other individuals. These educational services are provided by certain public or private establishments such as primary schools, elementary schools, secondary schools, and colleges. Therefore, the increasing demand for educational services is driving the growth of the secondary school market. For instance, in February 2023, according to the Australian Bureau of Statistics, an Australia-based autonomous constitutional agency responsible for collecting and analyzing data and presenting suggestions based on evidence to the national, state, and regional governments, in Australia, 4,042,512 students were pursuing education in schools in 2022, which represents a rise of 11,795 students (0.3%) from 2021. The increasing student enrollment will impact the demand for educational services, thus driving the secondary school market.
Technological advancements are a key trend gaining popularity in the secondary school market. Companies operating in the secondary school market are adopting new technologies to strengthen their position in the market. For instance, Edkasa, a Pakistan-based ed-tech platform offering an online learning, launched a mobile application to transform on-demand education in Pakistan aiming to reach millions of secondary school students. This software can be downloaded for Android users and includes a preliminary assessment to determine a student's needs before providing tailored study routes based on those needs, such as preparation for a certain exam.
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Major Key Players of the Market:
University of Pennsylvania, Stanford University, University of Michigan, KinderCare Learning Centers LLC, Harvard University, University of California, Yale University, TAL Education Group, New Oriental Education & Technology Group Inc., The Texas A&M University System, Bright Horizons Family Solutions Limited, Learning Care Group Inc., Adtalem Global Education Inc., Adtalem Global Education Inc., Goodstart Early Learning Ltd., Grand Canyon Education Inc., Primrose Schools Franchising SPE LLC, Perdoceo Education Corporation, Cornell University, GSX Techedu Inc., Mulpha International Bhd, Hailiang Education Group, Walla Walla Public Schools, Little Green Rascals Organic Nurseries Ltd., Tallahassee Classical School LLC, Nobel Learning Communities Inc., Copthall School, Massachusetts Institute of Technology, Columbia University
Secondary School Market 2024 Key Insights:
• The secondary school market size is expected to see strong growth in the next few years. It will grow to $662.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• Surging Demand For Educational Services Drives Growth In The Secondary School Market
• Elevating Secondary Education Innovative Mobile App To Enhance On-Demand Learning
• Asia-Pacific was the largest region in the elementary and secondary school market in 2023
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