According to the new market research report by IndustryARC titled “K-12 Online Education Market: By Product (Elementary, Junior High, Senior High); By Application (Teacher, Student, Parents); & Geography - (2018-2023)”, the market is driven by the rising popularity for online education due to the penetration of technology and increasing accessibility of internet.
Americas hold the largest market share in the K12 Online Education Market
Americas region holds the largest market share in the K12 Online Education MarketHowever, APAC region holds the significant growth rate Americas K-12 Online Market is mainly driven by the increased adoption of online courses. The key applications in this region include Teacher and Student among others.
Selected Impact Analysis done in the full report
• The advent of internet has opened up new avenues and online education emerges as a buoyed pedagogical practice.
• Online Education System was once intended for Higher education. However, it now became a burgeoning trend for K-12 students worldwide.
• K-12 online education has made it possible for kids to learn topics in the company of their parents. To be precise, it’s a deep curve in learning that best served to the needs of K-12 students. Because of this reason, it became the best sought-after platform for both parents and students.
• More than 60% of Americans think that high school students should have opportunities to earn credits through online courses.
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Selected Driving Factors Mentioned in the Full Report
• Online emerges as a powerful learning medium and today’s feature-rich online educational programs offer greater flexibility. This is reportedly considered as the major driving factor for the K-12 Online Education Market.
• The K-12 Online Education in China is estimated to grow at a CAGR of 21% during the forecast period.
• While more than 2.7 million students are taking part in online education in USA, many K-12 students are obtaining a high quality education through online.
• In 2020, an estimated 4.1 billion U.S. dollars will be spent on external providers of professional development in the United States.
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Key players of K-12 Online Education Market:
• Byju and Pearson are considered to be one of the key players of K-12 Online Education Market. Pearson, the U.S. based company has a total revenue of $760 million for the year 2017. The company estimated an adjusting operating profit of $686 millions in 2018
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