Elementary and Secondary Schools Global Market Report 2024

The elementary and secondary schools market size has grown strongly in recent years. It will grow from $1620.94 billion in 2023 to $1769.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%.The growth observed in the historical period can be attributed to factors such as population expansion, increased government funding, evolving education policies, greater parental involvement, and the progress of community development initiatives.

The elementary and secondary schools market size is expected to see strong growth in the next few years. It will grow to $2483.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. Forecasted growth is driven by inclusive education practices, infrastructure upgrades, global competency focus, public-private partnerships, and teacher professional development. Major trends include education technology innovation, digital learning platforms, technological integration, personalized learning, and emphasis on STEAM education.

The growth of the elementary and secondary schools market is anticipated to be fueled by an increase in education spending. Education spending encompasses the various expenditures associated with school activities, leading to higher revenues for educational institutions. As per the 2022 Annual Survey of School System Finances by the U.S. Census Bureau, total revenue for public school systems in FY 2020 rose to $584.9 billion from $572.5 billion in FY 2019. Correspondingly, total expenditures for these reporting areas increased to $586.4 billion in FY 2020, up from $571.8 billion in FY 2019. The upward trend in education spending is a significant driver for the growth of the elementary and secondary schools market.

The growing demand for educational services is poised to contribute to the expansion of the elementary and secondary school market. Educational services encompass a broad range of offerings related to education and training, with establishments providing instruction-based learning on various subjects. These services include primary, elementary, secondary, and university-level education. The escalating demand for educational services is reflected in the increased revenue for U.S. elementary and secondary schools, which reached $584.9 billion in FY 2020, marking a 2.2% growth from $572.5 billion. This surge in revenue is indicative of the rising demand for educational services, playing a key role in propelling the growth of the secondary school market.

The flipped classroom teaching model is revolutionizing the student learning experience by fostering an interactive environment in classrooms. This innovative approach involves students reviewing lecture materials or video lectures as homework before attending class. During class time, interactive discussions and collaborative activities take place under the guidance of the teacher. The flipped classroom provides students with the flexibility to engage with lecture materials at their own pace, enabling them to come prepared with specific questions for in-class discussions. According to the Flipped Learning Network, teachers who implemented this model observed improved grades for 71% of students, and 80% reported enhanced student behavior, highlighting the effectiveness of the flipped classroom teaching approach.

Leading companies are at the forefront of innovation by introducing smart artificial intelligence training programs to strengthen their market positioning. These AI training programs are designed to impart foundational knowledge and practical applications of artificial intelligence and machine learning. For instance, in May 2023, Flatiron School, a U.S.-based educational organization, launched artificial intelligence training programs. These programs are instructor-led and cover essential topics such as machine learning, natural language processing (NLP), and data science. By embracing these cutting-edge initiatives, companies aim to equip workforces with the necessary knowledge and skills to harness the evolving capabilities of artificial intelligence.

Major companies operating in the elementary and secondary schools market report are Apple Inc., The home depot lnc., Robert Bosch GmbH, Panasonic Corporation, Best Buy Co. Inc., Midea Group, Candy Group, Haier Group Corporation, Avnet Inc., MediaMarktSaturn Retail Group, Ceconomy AG, Toshiba Corporation, Whirlpool Corporation, Koninklijke Philips N.V., GOME Retail Holdings Limited, Fnac Darty SA, Office Depot lnc., Dixons Carphone PLC, Gamestop Corp., Bic Camera Inc., RadioShack Corporation, GE Appliance, Fry's Electronics lnc., Hhgregg Inc., P.C. Richard & Son, Micro Electronics Inc., iRobot Corporation, Aqua Corporation, BrandsMart USA Superstore LLC, Nebraska Furniture Mart Inc., Abt Electronics lnc., RC Willey Home Furnishings lnc., Conn's HomePlus lnc., Electronic Express lnc.

Asia-Pacific was the largest region in the elementary and secondary schools market in 2023. Western Europe was the second-largest region in the elementary and secondary schools market. The regions covered in the elementary and secondary schools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the elementary and secondary schools market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa. The elementary and secondary schools market consists of revenues earned by entities that provides basic technical courses to school students prior to bachelorette education. The elementary and secondary schools includes establishments such as boarding schools, kindergartens, military academies, finishing schools, vocational high schools. The market covers school boards and school districts. These establishments may be privately owned and operated for profit or not for profit, or they may be publicly owned and operated. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

These schools can be categorized into primary, middle, and secondary schools. Primary schools serve as the initial stage of academic learning, also referred to as elementary education. Expenditure in these institutions can be classified as public or private, while ownership may fall under government, local bodies, or other entities. Fee structures across these schools vary, accommodating low-income, medium-income, and high-income brackets.

The elementary and secondary schools market research report is one of a series of new reports that provides elementary and secondary schools market statistics, including elementary and secondary schools industry global market size, regional shares, competitors with elementary and secondary schools market share, detailed elementary and secondary schools market segments, market trends and opportunities, and any further data you may need to thrive in the elementary and secondary schools industry. This elementary and secondary schools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.