U.S. K-12 Education Market Overview
U.S. K-12 Education Market size is estimated to reach $10.8 billion by 2026 at a CAGR of 26.7% during the forecast period 2021-2026. The term K-12 is often used as a kind of shorthand to collectively refer to the entirety of primary and secondary education. The K-12 system of education is about ensuring basic elementary schools education to students from Kindergarten to the 12th grade. At the end of high school, pupils are also provided with a Grade Point Average (GPA), an average of their results in all high school grades which can help to determine their next step into work or college. Further with the advances in the education technology and improved accessibility to quality education and smart learning are some of the factor driving the U.S. K-12 Education industry. The number of education start-ups is now increasing at an exponential rate. It has been estimated that around 37% of the education start-ups are working on expanding K-12 online education or home schooling market. In addition factors such as technological advances and the rising use of Big Data have increased the popularity of learning analytics in the educational industry. Furthermore, Governments and International baccalaureate initiatives to improve the quality of education at the K-12 level across the world is also expected to drive the U.S. K-12 Education Market share. In 2020, the American Rescue Plan invested around $130 billion to K-12 schools to help them reopen safely, make up for lost learning and address inequities made worse by the pandemic. Moreover Education Company such as Stride K12 curriculum embedded STEM learning activities in math and science courses in grades 6–12 and many other courses include exercises, labs, and activities that involve various STEM disciplines. Hence these factors are analysed to drive the U.S. K-12 Education Industry outlook in the forecast period 2021-2026.
U.S. K-12 Education Market Segment Analysis – By Model/Platform
The Big Data & Analytics segment of the U.S. K-12 Educations market is growing at the highest CAGR of 27.5% during the forecast period. The emergence of big data in educational contexts has led to new data-driven approaches to support informed decision making and efforts to improve educational effectiveness. Digital traces of student behavior promise more scalable and finer-grained understanding and support of learning processes, which were previously too costly to obtain with traditional data sources and methodologies. In recent years, the increased availability of big data has led to new frontiers in monitoring processes in educational contexts and has informed decision making and efforts to improve educational effectiveness. From the past few years, big data and analytics have slowly crept into the world of public education and also embedded in everyday activities collection of student-learning data now being pioneered by several educational institutes and federal government’s new National Education Technology Plan. Moreover several educational institutes have been receiving huge funds in deploying this technology. AltSchool has received $133 million in venture capital from Facebook for deploying Big Data & Analytics. Hence these factors are analysed to drive the U.S. K-12 Education Market size in the forecast period 2021-2026.
U.S. K-12 Education Market Segment Analysis – By School
In U.S. K-12 Education Market, the online education segment is growing at a CAGR of 28% in the forecast period. To improve the educational outcomes, many school districts and states in the US are turning to online learning. With the new millennium, online learning at K-12 level has grown from an experiment to a movement. Different types of online education programs are being implemented in the US, such as state virtual schools, charter schools2, multidistrict programs, single district programs, programs run by universities, blended programs, private schools, and consortium based programs to name some of the most common program types. Over 2.7 million students across the United States are taking part in digital learning, and many students in grades K-12 are getting a high-quality education online through a full-time online public school. K-12 online public schools are attempting to offer a personalized, high-quality education with instruction from state-certified teachers to help students reach their potential. These online schools adhere to the same state testing, school accountability, and attendance policies as traditional brick-and-mortar schools.
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U.S. K-12 Education Market Drivers
Increasing approach to improving the educational outcomes of students
The demand for U.S. K-12 Education is led by schools moving to a learning atmosphere from the conventional blackboard approach to integration with smart technologies. A wide variety of programs, resources, and services aimed at improving student academic outcomes are covered in the learning trend. STEM training demand has been boosted by increased career possibilities in the areas of science, technology, engineering, and mathematics. Students who have successfully obtained a high degree of competition are qualified to join higher schools. This makes parents, students, and different partners in schools around the world more focused on STEM basic education.
Emergence and integration of technologies is driving the growth of the U.S. K-12 Education market:
The introduction of technology in education enables schools and universities to deliver creative solutions, such as e-books, Augmented Reality (AR)/Virtual Reality (VR) interactive content, and recognized university approved online courses are expected to drive the growth of the U.S. k-12 education market size. Growth in the adoption of education technology (EdTech) tools in both the academic and non-academic sectors is and increased acceptance of EdTech solutions and offerings in major higher schools and educational organizations are gradually moving their focus from the legacy EdTech education system to online EdTech solutions. AI incorporation in schools in order to automate tasks, such as grading subjects and providing input, is expected to propel the k-12 education market size. Further AI focusses on the creation of intelligent machines that can perform functions like speech recognition, learning, and problem solving. In the US education sector, AI is increasingly used to enhance student learning; intelligent interactive programs using various technologies such as machine learning, natural language processing, and deep learning help in overall learning of students. Further in 2021, AllHere Education, the leader in providing K-12 districts with personalized technology solutions to improve student outcomes, has raised $8 million funding led by Spero Ventures. The investment round will be used to grow the capabilities of AllHere’s conversational artificial intelligence (AI) chatbot, the first in the K-12 industry to help schools support students and families to measurably improve student attendance and grades. Hence these factors are analyzed to drive the U.S. K-12 Education industry in the forecast period 2021-2026.
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U.S. K-12 Education Market Challenges
COVID-19 crisis is an unprecedented challenge that has exposed many of the difficulties in delivering quality eLearning In U.S. K-12 Education Market hamper the growth of the market
The COVID-19 crisis is an unprecedented challenge that has exposed many of the difficulties in delivering quality eLearning, at scale, to students across the country. While some school districts had all the pieces in place to instantly flip to virtual education delivery, many did not. With states shutting schools down in mid-March, a lack of technology resources and preparedness resulted in sub-optimal learning for students. Further the magnitude and complexity of this crisis cannot be understated regarding the speed and scale at which it impacted U.S. education. Moreover contingency planning for an overnight shift to 100% digital learning would not have been a judicious investment of time and resources given other challenges schools were facing. Most school districts in the U.S. do not have a one-to-one technology strategy that provides all students, kindergarten through 12th grade, with a computer that travels home with the student. Many schools were able to overcome the incredible logistical issues and remedied this situation when the crisis began by acquiring new equipment and/or delivering the equipment that had traditionally been maintained in classroom technology carts to students’ homes. Hence these factors affect the U.S. K-12 Education Market share.
U.S. K-12 Education Market Landscape
Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the U.S. K-12 Education Market. In 2020, the market of U.S. K-12 Education industry outlook has been fragmented by several companies. U.S. K-12 Education top 10 companies include:
American Public Education
McGraw-Hill Education
Pearson Education Inc.
K12 Inc.
Blackboard Inc.
Providence Equity Partners LLC
Adobe Systems
Chegg Inc.
Stride Inc.
Newsela
Acquisitions/Technology Launches
In May 2020 – K12 Inc. has provided more than 150,000 students, families, and teachers in the US with access to free educational and instructional tools and resources during the coronavirus pandemic. Despite nationwide school closures, the company is helping students and teachers get back to school this academic year.
Key Takeaways
The Big Data & Analytics segment of the U.S. K-12 Educations market is growing at the highest CAGR of 27.5% during the forecast period. The emergence of big data in educational contexts has led to new data-driven approaches to support informed decision making and efforts to improve educational effectiveness.
In U.S. K-12 Education Market, the online education segment is growing at a CAGR of 28% in the forecast period. To improve the educational outcomes, many school districts and states in the US are turning to online learning.
The introduction of technology in education enables schools and universities to deliver creative solutions, such as e-books, Augmented Reality (AR)/Virtual Reality (VR) interactive content, and recognized university approved online courses are expected to drive the growth of the U.S. k-12 education market size.
U.S. K-12 Education companies are strengthening their position through fundings and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements.
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