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The k-12 makerspace materials market size is estimated to grow at a CAGR of 9.52% between 2023 and 2028. The market size is forecast to increase by USD 1.87 billion. The report includes historic market data from 2018-2022. It also extensively covers market segmentation by product (robotic toolkit, construction materials, arts and crafts materials, and other materials), end-user (elementary school, middle school, and high school), and geography (APAC, Europe, North America, Middle East and Africa, and South America). This report also includes an in-depth analysis of drivers, trends, and challenges.
Increased funding from private organizations is the key factor driving the market growth. A rising amount of grants and funding from local communities and various foundations is driving the growth of the market. For example, The American Honda Foundation supports youth education that has a specific focus on STEM. The foundation provides grants in the range of USD 20,000 to USD 75,000. In the US, IMLS, an independent agency of the US federal government, offers grants supporting the planning and designing of up to 30 Learning Labs in libraries and museums in the country. These laboratories are intended to engage middle and high school youth in a mentor-led collaborative learning environment using digital and traditional media that would improve their problem-solving skills and cognitive thinking capabilities, which will further drive the growth of the market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The K-12 makerspace materials market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
APAC is estimated to contribute 38% to the growth of the global LiDAR market during the forecast period.
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The K-12 makerspace materials market in APAC is expected to record rapid growth with China, Japan, Australia, India, and South Korea as leading revenue-generating countries. The K-12 makerspace materials market is yet to be fully established in APAC. However, the increased emphasis on experiential learning and collaborative learning in schools will drive the growth of the market.
In addition, increasing student interest in the field of electronics and in programming and coding languages has raised the demand for robotics and construction makerspace materials. Thus, several schools in the region have started adopting visual technologies, such as VR and AR, and a range of other technologies, such as 3D printing. VR makerspaces are gaining traction in the region, with schools opting for VR makerspace laboratories. Hence, such factors are expected to drive market growth in this region during the forecast period.
Based on the product, the market share growth by the robotic toolkit segment will be significant during the forecast period. The robotic toolkits segment dominates the global K-12 makerspace materials market, as many schools in both developed and developing countries are increasingly opting for robotic tools in their makerspaces. Robotic tools are more often used in science, engineering, technology, and mathematics (STEM) courses and help to bridge technology and pedagogy to offer physical manifestations of key concepts of education.
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The robotic toolkit segment showed a gradual increase in the market share of USD 953.71 million in 2018. Some of the market players that offer robotic toolkits to schools include Sphero 2.0, Modular Robotics, Lego Wedo 2.0, and Elenco Electronics Inc. Furthermore, the increase in the adoption of technologically developed robotic toolkits is one of the major factors driving the growth of the market. In K-12 schools, students are exposed to technology at a very early age. Hence, these factors under the robotic toolkits segment will propel the growth of the global K-12 makerspace materials Market during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The introduction of drones in K-12 robotic learning programs is the primary trend shaping market growth. The popularity of drones for recreational and professional purposes is growing. Market players are also introducing drones in K-12 robotic learning programs. For example, schools and educators across the world are introducing drones in STEM learning. Drones help students learn subjects such as geography and cartography, through coordinate mapping and distance calculations.
Moreover, multiple manufacturers that offer drones for robotic learning as K-12 makerspace materials allow students to build their own drones. This helps them understand advanced designing processes and methods and explore post-school career options in robotics. Market players are also introducing new products to cater to the growing demand for drones. Due to these reasons, the global K-12 makerspace materials market will grow significantly during the forecast period.
Student safety and security issues is a challenge that affects market growth. Safety and security issues are a pressing issue in middle school and elementary school. With technological advancements such as 3D printers, laser cutters, VR, and AR, there is a high risk involved in handling these products; laser and VR sickness is one such risk. Many schools also use soldering kits in their makerspaces, thereby increasing the risk factor. Materials such as soldering irons, sharp implements such as saws or woodworking tools, and laser-cutting equipment can result in major accidents if used without proper care and instructions.
Thus, it is of prime importance that a proper quality check of the materials is done at both the market players' level and the school level. The schools should form clear guidelines on the use of such equipment and suitable attire to be worn in makerspaces. Special attention must be given in elementary school, especially in makerspaces involving art and craft materials and construction materials, as children at this age tend to put every item in their mouths. Hence, these factors will thereby restrict the growth of the market focus during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global K-12 Makerspace Materials Market Customer Landscape
The outbreak of the COVID-19 pandemic in 2020 negatively affected the APAC K -12 makerspace materials market. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Makerspaces and their associated materials have become increasingly popular in the post-COVID era, as both parents and educators have come to understand the importance of practical and interactive learning. The COVID-19 pandemic has brought to light the drawbacks of remote learning, as well as the need to offer students hands-on educational opportunities. This has led to an increased demand for makerspaces, as they provide a comprehensive approach to education that increases student involvement and creativity. Hence, such factors will lead to positive growth in the regional market during the forecast period.
The k-12 makerspace materials market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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K-12 Makerspace Materials Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.52% |
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Market growth 2024-2028 |
USD 1.86 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.86 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 38% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ArcBotics LLC, BASIC FUN Inc., Boxlight Corp, Chibitronics Inc., Eduscape, Elenco Electronics Inc., Engino.net Ltd., Follett Corp., GoldieBlox Inc., Innovation First International Inc., KEVA Planks Education, LEGO System AS, Makeblock Co. Ltd., Makey Makey LLC., Modular Robotics Inc., Qubits Toy, Sphero Inc., Squishy Circuits Store LLC., Stratasys Ltd., and Wonder Workshop Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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