Rising income levels, growing willingness to spend on quality education & enhanced affordability and increasing penetration of digital learning to drive India K-12 market through 2024
According to a report released by TechSci Research, ‘India K-12 Market By School Type, By Curriculum, Competition, Forecast and Opportunities, 2014 – 2024’, India K-12 market is anticipated to register growth at a CAGR of over 0.29% during 2019-2024 on account of increasing awareness about quality education across the country. Moreover, surging income levels, growing willingness to spend on quality education and rising awareness towards importance of education further driving growth in the market.
Additionally, government plays an important role with their initiatives to modernize the sector to enhance affordability and improve quality education. Also, increased penetration of e-learning and m-learning modules has facilitated the market over the last few years. However, the share of private schools has been increasing due to growing awareness about importance of quality education. The involvement of private sector has undoubtedly helped raise the general level and variety of educational opportunities.
Among school type, government/public schools dominate India K-12 market. In regions, West and East regions are the leading regions in the India K-12 Education Market. Both the regions are expected to experience sustainable growth during forecast period as well owing to increasing penetration of private schools in these regions pursuing high demand for quality education and enhanced affordability.
“India K-12 market is gaining significant amount of monetary support from government and private institutions under various schemes and programs resulting in upgradation of education infrastructure across both rural and urban regions. Additionally, reforms such as New Education Policy (NEP), foundation of Eklavya schools, etc., introduced by the government in order to promote girl education and provide equal opportunities for all are positively influencing the market. Moreover, technology advancements in the methods of teaching such as smart classes, digital modules like e-learning, etc., have also made learning more easier and interactive for students, which is anticipated to exhibit an immense scope for India K-12 Market.” said Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
According to TechSci Research “India K-12 Market By School Type, By Curriculum, Competition, Forecast and Opportunities, 2014 – 2024” has evaluated the future growth potential of K-12 Education Market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India K-12 market.