K12 and Higher Education
Outlook of the technical and vocational education market in the UK
In the UK, the market for technical and vocational education will grow at a steady CAGR of over 8% by 2020. The persistence of skill mismatches in this region will compel people to opt for technical and vocational courses. In the UK, the number of workforce vacancies grew by around 40% during 2013-2015. However, employers in the UK do not find the right skills in candidates and, as a result, around 25% of job vacancies cannot be filled. The lack of interpersonal, analytical, numeracy, and other essential 21st century skills will lead to the high demand for technical and vocational courses in this region. As awareness about skill mismatches increases, corporates as well as individual learners will increase their investments in technical and vocational education.
Another factor inciting growth in this market is the rising digitization of technical and vocational education. With advances in technology, trainers are improving the delivery of vocational and technical education through the incorporation of online as well as offline platforms. Though classroom-based training is still the dominant method of teaching in this region, many vendors have started to incorporate blended learning in their training methods. Furthermore, apart from using PCs, some trainers have also started using mobile devices to improve their distance learning programs. With increasing advances in technology, technical and vocational training providers have been compelled to use educational software solutions, virtual learning platforms, simulations, and interactive multimedia content to provide training.
Competitive landscape and key vendors
In the UK, this market is fragmented owing to the presence of more than 900 training providers. As a result, this market has no clear leader. In the past five years, the market has seen various
Overview of the global private tutoring market
Market research analysts at Technavio have predicted that the global private tutoring market will grow steadily at a CAGR of almost 7% by 2020. Governments across the world have started taking preventive measures to reduce their expenses and this has also affected the education industry since governments have started tightening the budgets allocated to public schools. This allocation of low funds has resulted in the closing of several courses such as arts, music, drama, and physical education from the school curriculum in many countries, especially in the US. This has induced students to opt for private tutoring services to develop their skills in particular fields. Also, the unavailability of holistic and comprehensive education from public schools will also lead to the growth of private tutoring market during the forecast period.
The emergence and adoption m-learning will be one of the major trends that will gain traction in this market in the next four years. The increasing adoption of cellphones and tablet computers will lead to the rise of m-learning methods. Few developed countries such as the US and the UK, have already adopted m-learning methods for test preparation. M-learning also enables private and online tutoring services to provide data to their customers in a more convenient way.
Competitive landscape and key vendors
The market is characterized by the presence of several diversified international and regional vendors. International players have increased their footprint in the market and the regional vendors are finding it difficult to compete with them in terms of quality, technology, and pricing. The market will witness the international tutoring companies growing inorganically
Overview of the preschool or child care market in India
Market research analysts at Technavio have predicted that the preschool or child care market in India will grow impressively during the forecast period and will also post a CAGR of almost 22% by 2020. Analysts have identified that the low regulatory requirements in the country to start a preschool or child care center is one of the primary growth factors for this market. The rise in competition among students to secure admissions in privileged schools will induce parents to focus on providing education to their children from early childhood days. This will result in the rise in a number of student enrollments in preschools. Moreover, the requirements such as license and infrastructure are not regulated, and there is no federal authority in the country that oversees preschools or child care centers. Also, the requirement of very low investments, low-interest rates from banks, and the ability to expand geographically using franchise structures are other major factors that induce vendors to enter the market.
The market has a huge potential for growth, and this will attract several international schools and kindergartens to get into the market. This, in turn, will lead to a significant change in the educational curriculum. Since the international curriculum helps children to experience various activities and eventually helps them in building the character, there will be a rise in the interest of parents in the blended learning of both the Western and Indian educational system. This will induce new and regional vendors to adopt the international preschool lesson plans.
Competitive landscape and key vendors
The market is characterized by the presence of diversified international and regional child care service providers. The international players constantly increase their
Overview of the preschool or child care market in China
Market research analysts at Technavio have predicted that the preschool or child care market in China will grow steadily at a CAGR of more than 6% by 2020. Women population in China constitutes for a considerable share of the total population of the nation and also the country’s labor force. The increasing number of job opportunities in Tier 1 and Tier 2 cities is inducing several women to shift from rural areas. Moreover, the public sector also offers job opportunities for much shorter and more feasible hours than the private sector, which is preferred by working mothers. These factors will account for a rapid increase in the number of working women in the country, which will, in turn, lead to the growth of the market during the predicted period.
English has found a significant place in the country’s educational curriculum as the most required foreign language and is also the widely spoken language in the country after Mandarin. This will significantly increase the demand from parents for English language training programs and will also induce private preschool education centers to provide English language as a part of their preschool lesson plans. Additionally, the deployment of modern techniques will also increase the demand for English proficiency as instructions are mostly available in this language.
Competitive landscape and key vendors
The market is characterized by the presence of diversified international and regional players, and since all players are competing to gain a greater share of the industry, the market appears highly competitive. International preschool and child care service providers are gradually increasing their footprint in
Overview of the test preparation market in China
The test preparation market in China is projected to witness exponential growth and will post a staggering CAGR of more than 15% over the forecast period. An increasing number of students enrolling in graduate schools inevitably translates into a higher number of students opting for test preparation services. According to China’s Ministry of Education, the number of students enrolling in higher educational courses has increased dramatically in the past few years. The rising number of private institutions and economic expansion of the country has helped the middle-class families to invest in their children's education. Therefore, the increase in the number of graduate enrollments will lead to several students taking APT and Gaokao tests, as they are the pre-requisites for students to enroll into China's regular higher education system.
One of the significant trends gaining traction in this market is the increasing adoption of online learning modules by test preparation centers. Dynamic changes in technology and demand patterns have induced test preparation firms to adopt various online methods to make their products available. These online learning platforms have not only reduced transportation costs for tutors and students but have also significantly increased digital connectivity among them. Moreover, the effective use of online media enables providers to reach out to a large set of customers, while incurring minimal costs. Besides cost saving and increased flexibility, the proliferation of mobile devices, such as tablets and iPads among
Overview of the K-12 education market in Thailand
Technavio’s market research analysts have predicted that the K-12 education market in Thailand will grow steadily at a CAGR of more than 3% by 2020. Promotion of STEM (science, technology, engineering, and mathematics) education encourages more number of students to work in technical fields, which in turn improves the economy, productivity, and competitiveness on the global stage. Since less than one-third of students attend universities, it is essential for the country to imbibe STEM education skills at the school level to meet the national priority of enabling a stable workforce. This promotion of STEM education will be one of the major factors that will have a positive impact on the growth of the K-12 education market.
The recent years have witnessed a steep rise in the international mobility of students in Thailand that calls for improvement in the K-12 education system. This ensures that students have a strong foundation in order to adjust in higher educational institutions of other regions. In search for eligible students and also to facilitate improvement in their proficiency in the Japanese language, higher education institutions from other regions have started establishing their offices in Thailand.
Segmentation by school ownership and analysis of the K-12 education market in Thailand
- Public K-12 education
- Private K-12 education
During 2015, the public K-12 segment dominated the K-12 market and accounted for about 82% of the total market share. Public education mainly caters to families with low to moderate income. Since this income group represents the largest portion of Thailand’s population, the demand for K-12 education will continue to exist from
Building a skilled and intelligent workforce is a priority in most global economies. As education is the foundation for this, the market potential in the K-12 education segment is continuously growing and evolving.
In addition to advances in the K-12 segment, global demand for higher-education qualifications has increased enrollments in higher education and intensified competition among the stakeholders in the higher-education segment. Universities are aggressively formulating strategies to enhance their global standings, which is presenting business opportunities for serving the higher education market.
The need for increased visibility of educational institutions in the K-12 and higher-education segments will result in new business models throughout the projected period.
As a result, industry stakeholders—including teachers, students, education institutions, governments and regulatory bodies, and e-learning companies—are expected to expand considerably over the next few years.
Technavio’s education research reports aim at providing actionable market insights to all the stakeholders of the education industry and aid them in their strategic decision-making processes.