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The virtual schools market size is estimated to grow at a CAGR of 12.24% between 2022 and 2027 and the size of the market is forecast to increase by USD 3,095.11 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by application (elementary schools, middle schools, high schools, and adult education), type (for-profit EMO and non-profit EMO), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). This report also includes an in-depth analysis of drivers, trends, and challenges.
The increased demand and enrollment are driving growth in the virtual school market. Gradually, there has been a rise in the number of students and an increase in demand for Virtual Schools. The COVID-19 pandemic in 2020 played a significant role in advancing this trend, as schools turned to virtual learning as a response to school closures and social distancing measures. Virtual school enrollments grew the most in primary schools, where online learning is relatively rare. Virtual schools, which have been shown to be an effective option for learning and are having a positive impact on the growth of the global market in focus, have become increasingly accepted. Parents and students have become more aware of the benefits and possibilities offered by virtual education, leading to increased enrollment, which, in turn, will boost the growth of the global 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.
21k School - The company offers virtual schools such as nursery, LKG, and UKG programs.
The virtual schools market report also includes detailed analyses of the competitive landscape of the market and information about 15 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.
Virtual schools have been experiencing significant growth in North America. This growth has been driven by various factors, including advancements in technology, changing educational needs and preferences, and the impact of the COVID-19 pandemic. In terms of scheduling and pace of study, virtual education offers flexibility. Virtual schools also often offer personal learning experiences, which adapt to each student's different learning styles and enable self-paced training.
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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Virtual schools often offer individualized support systems such as virtual tutoring, academic counseling, and additional resources to address the unique needs of each student. The popularity and growth of virtual schools in North America have resulted in the development of dedicated virtual school programs, both within traditional public school systems and through online charter schools or independent virtual school providers. Such factors will increase the market growth in this region during the forecast period.
The market share growth by the elementary schools segment will be significant during the forecast period. There has been a significant increase in demand for virtual education options for elementary schools in recent years. Virtual education platforms often offer personalized learning experiences tailored to individual student needs. School students who have diverse learning styles and students that require more individual attention can benefit in elementary school.
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The elementary schools segment shows a gradual increase in the market share of USD 870.66 million in 2017 and continue to grow by 2021. Virtual education for elementary schools often provides a broader range of curriculum choices beyond what may be available in traditional brick-and-mortar schools. With this, students are able to explore various subjects, specialized programs, or enrichment opportunities that will meet their interests and educational objectives.
Our researchers analyzed the data with 2022 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.
Apps and wearables for virtual education are key trends in the market. In view of their ability to improve the learning experience and provide other functions, apps, and wearables are becoming increasingly popular in Virtual Schools. Apps and wearables offer interactive features that make learning engaging and immersive. They provide interactive quizzes, games, simulations, and multimedia content that promote active learning and increase student engagement.
These technologies support personalized learning experiences by adapting to individual student needs. With each student's learning style, pace, and preferences, mobile apps, and wearables may develop personalized recommendations, content adapted to suit their individual needs, and tailored feedback. The growing adoption of wearables will boost the growth of the global market during the forecast period.
The high cost associated with virtual schools is a major challenge in the market. In order to operate the virtual school, the investment in necessary technology infrastructure which includes hardware, software, and educational management systems as well as internet connectivity. This includes providing students with devices such as computers or tablets and ensuring reliable Internet access for both students and teachers.
However, virtual schools often utilize learning management systems (LMS) or educational software to manage student enrollment, deliver content, track progress, and facilitate communication. The total expenditure may be increased by the cost of licensing or developing and maintaining these systems. Therefore, the high development costs associated with virtual e-learning courses are likely to slow down the growth of the market in 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 Virtual Schools Market Customer Landscape
The COVID-19 pandemic in 2020 accelerated the adoption of virtual education, as it provided a safer alternative during periods of school closures and social distancing requirements. In 2021, widespread vaccination drives and the lifting of lockdown restrictions led to the reopening of the educational institutes in the region. However, even after 2021, there was no change to the trend of online learning. The rising awareness of the benefits of adaptive e-learning fostered the demand for e-learning. Such factors are expected to drive the growth of the virtual schools market in the region during the forecast period.
The virtual schools market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Virtual Schools Market Scope |
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Report Coverage |
Details |
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Page number |
148 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.24% |
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Market growth 2023-2027 |
USD 3,095.11 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
12.12 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 48% |
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Key countries |
US, Canada, China, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
21k School, Basehor Linwood Virtual School, EDOVU VENTURES PVT. LTD., Education World Wide, Florida Virtual School, Forest Trail Academy, Global Indian International School Pte. Ltd., IBE Alliance, Imagine Online Academy of Arizona, Institute of Science and Technology, International VLA LLC, International Well Rounded School, Laurel Springs School, Lincoln Learning Solutions, Minerva Virtual Academy, Pearson Plc, Prisma Learning Inc., Stride Inc., The Class Of One, and UK Virtual School Ltd. |
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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 the 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 Application
7 Market Segmentation by Type
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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