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The North America - Virtual Schools Market size is estimated to grow at a CAGR of 12.33% between 2022 and 2027. The market size is forecast to increase by USD 1,479.64 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by type (for-profit EMO and non-profit EMO) and application (elementary schools, middle schools, high schools, and adult education). This report also includes an in-depth analysis of drivers, trends, and challenges.
The need for a cost-effective teaching model is notably driving the market growth. The concept of virtual schools brings cost-saving benefits for both learners and educational institutions. In countries like the US, virtual schools contribute to cost reduction for students since digital content can be reused, thereby lowering learning expenses. The advent of cloud-based LMS further diminishes the expenses associated with content creation, management, storage, and delivery, with learners enjoying the added convenience of accessing materials on their own devices. Educators can readily access small, specific content modules from diverse sources for classroom sessions, reducing reliance on major publishers and enhancing the creation and management of diverse and interactive content.
Moreover, this drive towards cost efficiency benefits vendors while the increasing availability of affordable online courses for consumers is expected to fuel substantial growth in the North America - virtual schools market. Therefore, owing to all such factors, the virtual schools market in North America is expected to grow significantly 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.
Abbotsford Virtual School - The company offers virtual school programs such as home based learning, fusion program and online learning.
The North America 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.
The market share growth by the for-profit EMO segment will be significant during the forecast period. With the goal of generating profit, a for-profit EMO is a private entity that operates schools or provides educational services. These organizations often partner with schools or districts to provide administrative and operational support, curriculum development, teacher training, and other educational services.
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The for-profit EMO segment was the largest and was valued at USD 624.24 million in 2017. For-profit Education Management Organizations often attempt to provide distinctive virtual education programs mainly to meet the specific needs of particular student demographics. These EMOs may offer specialized curricula, enrichment initiatives, or support services, setting them apart from traditional public schools and non-profit organizations. Through innovative curriculum models, instructional techniques, and technology integration strategies, for-profit EMOs attract educational institutions seeking fresh, inventive approaches to teaching and learning. This is anticipated to have a positive impact on the expansion of the North America - virtual schools market. Therefore, the for-profit EMO segment is poised for significant growth within the North American virtual schools market in the foreseeable future.
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.
Increased demand for distance learning is an emerging trend shaping the market growth. Distance learning offers invaluable opportunities to individuals grappling with financial constraints, geographical limitations, and scheduling conflicts, making it difficult for them to attend traditional universities. While distance education content is typically delivered through online platforms or in the form of books and CDs, virtual schools have emerged as a dynamic alternative by providing synchronous content delivery. Consequently, they are gradually gaining prominence over traditional methods which helps in the North America - virtual schools market expansion. The US has witnessed an expansion of schools offering online courses, capturing the attention of students worldwide, particularly in developing economies like India and China.
Therefore, with the escalating demand for online education and continuous technological advancements, factors such as the increased interest in distance learning are expected to make a substantial contribution to the growth of the virtual schools market in North America during the forecast period.
The lack of effective metrics in virtual schools is a significant challenge hindering market growth. The effectiveness of training is a critical consideration for virtual schools as they guide and support students. Many virtual schools invest substantial resources in implementing training modules leveraging the latest e-learning technologies. However, some entities may fall short of adopting adequate measurement and evaluation techniques for their training programs. Effective evaluation methods are essential for gauging the impact and success of these programs, helping learners enhance their skills and competencies. E-learning can prove highly effective for non-technical training, encompassing areas such as compliance, business ethics, and soft skills.
However, for training and assessments that require hands-on experience and extensive practical exercises, which necessitate repeated practice and application, conventional metrics may not suffice. Such limitations may potentially hinder the growth of the virtual schools market in North America 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.
North America Virtual Schools Market Customer Landscape
In 2020, the COVID-19 pandemic has positively impacted the growth of the virtual schools market in the US. However, the initiation of large-scale vaccination drives conducted by the government across the country in the first half of 2021 helped to stabilize the situation. The increasing ed-tech investment, the flexibility of place and timing, and one-on-one tutoring services offered by virtual school service providers in North America will drive the growth of the Virtual schools market in North America during the forecast period.
The North America virtual schools market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
North America Virtual Schools Market Scope |
|
Report Coverage |
Details |
Page number |
140 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.33% |
Market growth 2023-2027 |
USD 1,479.64 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.21 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbotsford Virtual School, Charter Schools USA, Discovery Education Inc., Florida Virtual School, Lincoln Learning Solutions, Ontario Virtual School Inc., Pansophic Learning, American School, Apex Learning Inc., Arizona State University, Basehor Linwood Virtual School, D2L Corp., Pearson Plc, Primavera Online High School, Spring Education Group, Stanford University, Stride Inc., University of Nebraska Lincoln, University of the People, and VirtualHighSchool.com Inc. |
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. |
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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