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Soaring Demand Set to Propel STEM Education In K-12 Market to $86.25 Billion by 2029
STEM Education In K-12
What Is the Expected CAGR for the STEM Education In K-12 Market Through 2025?
There has been a significant expansion in the size of the K-12 Stem education market in recent years. The market size is projected to increase from $44.13 billion in 2024 to $50.6 billion in 2025, boasting a compound annual growth rate (CAGR) of 14.7%. Factors contributing to this growth during the historic period include the accessibility of digital resources, higher emphasis on stem in K-12 curriculum, a heightened recognition of the part played by stem education in fostering economic growth, advanced stem education in high schools and an amplified significance of stem education in emergent countries.
What's the Projected Size of the Global STEM Education In K-12 Market by 2029?
The size of the K-12 stem education market is anticipated to experience swift increase over the next couple of years. The market size is projected to reach $86.25 billion by 2029, expanding at a compound annual growth rate (CAGR) of 14.3%. The renowned growth for the forecast period could be credited to the escalating demand for stem education, the rising prominence of stem skills in the employment sector, the emergence of online education platforms, pioneering government policies, and parental enthusiasm in stem education. Significant trends in the expected period encompass private sector contributions, the inclusion of technology in education, the evolution of careers linked to stem, augmented finance for stem education, and the integration of novel technologies.
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Top Growth Drivers in the STEM Education In K-12 Industry: What's Accelerating the Market?
The anticipated surge in online education is predicted to fuel the growth of STEM education in the K-12 market. The concept of online education, which involves disseminating instructional content via the internet, is witnessing a growth in demand due to its flexible, accessible, and quality-driven remote learning benefits, which are spurred by technological advancements and dynamic learning needs. STEM education commonly incorporates interactive resources and technology, including virtual labs, simulations, and coding platforms that enhance the online learning experience by making it more engaging and practical. This aids students in grasping intricate concepts through hands-on activities and experimentations. For instance, in May 2024, data from the National Center for Education Statistics, a US-government agency, indicated that 87% of public schools announced they provided tutoring during the 2023-24 academic year, with 47% offering two or more types. Detailing further, 46% made high-dosage tutoring available, 66% offered standard tutoring, 24% presented self-paced tutoring and 13% provided on-demand online tutoring. Thus, the escalating demand for online education is a major factor propelling the evolution of STEM education in the K-12 market.
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What Trends Will Shape the STEM Education In K-12 Market Through 2029 and Beyond?
Key players in the K-12 STEM education market, such as Next Education, are rolling out innovative solutions to better equip students for the requirements of the current workforce. Their offerings, namely Next STEM and Next English, aim to provide a holistic and integrated learning experience by blending technology, interactive tools, and sophisticated assessment systems. For instance, in April 2024, India-based company, Next Education, which specializes in STEM education, introduced software programs under the same names, Next STEM and Next English. These cutting-edge programs are designed to provide wide-ranging learning experiences, foster crucial skills for the 21st century and prepare students to thrive in a technology-infused, interconnected global arena. Next STEM embodies an inclusive learning platform for Science, Technology, Engineering, and Math (STEM) education, emphasizing hands-on activities, simulations, and interactive learning tools. On the other hand, Next English, is a comprehensive solution for English learning that converges technology, digital content, sophisticated assessment systems, and interactive tools. The program aims to revolutionize the way English language is learned by providing in-depth and interactive learning experiences.
What Are the Main Segments in the STEM Education In K-12 Market?
The stem education in K-12 market covered in this report is segmented -
1) By Type: Customized Live Courses, Standard Recorded Courses, Other Types
2) By Delivery Mode: Online, Offline
3) By Application: Elementary School (K-5), Middle School (6-8), High School (9-12)
Subsegments:
1) By Customized Live Courses: Online Interactive Live Stem Classes, Instructor-led Live Workshops And Seminars, Live Tutoring For Stem Subjects, Personalized Stem Education Programs, Project-Based Learning In Live Sessions
2) By Standard Recorded Courses: Pre-Recorded Stem Curriculum Videos, Recorded Stem Webinars And Lectures, Self-Paced Video Tutorials For Stem Subjects, Recorded Virtual Stem Labs And Experiments, Subscription-Based Access To Pre-Recorded Stem Content
3) By Other Types: Blended Learning (Combination Of Live And Recorded Content), Stem Camps And Bootcamps (In-Person Or Virtual), Interactive Stem Learning Platforms (Gamified Learning), Virtual Reality (Vr) Or Augmented Reality (Ar) Stem Learning Programs, Hybrid Stem Education Models (Combination Of Physical And Digital Learning Tools)
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Which Top Companies are Driving Growth in the STEM Education In K-12 Market?
Major companies operating in the stem education in K-12 market are Amazon Web Services Inc., Adobe Inc., Stride Inc., Scholastic Inc., K-12 Inc., Cengage Inc., Houghton Mifflin Harcourt, McGraw-Hill Education, School Specialty, D2L corporation, Hurix Systems Pvt. Ltd., Meritnation, Outschool Inc, EduCo International Group, zSpace, Kendall Hunt Publishing Company, PASCO Scientifc, Freeman and Worth Publishing Group LLC, Sphero inc., Istation, Mathspace Pty Ltd., Lab-Aids Inc., Wonder Workshop Inc., International School of London, Innova STEM Education
Which Regions Will Dominate the STEM Education In K-12 Market Through 2029?
North America was the largest region in the stem education in K-12 market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stem education in K-12 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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