K12 Education Technology Market Size, Share, Growth, and Industry Analysis by Type (Learning Management Systems (LMS), Learning Content Management Systems (LCMS), Learning Content Development Systems (LCDS), Student Response Systems (SRS), Assessment Systems, and Collaboration Systems) By Application (Online, and Offline), Regional Insights, and Forecast From 2024 To 2032

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K12 EDUCATION TECHNOLOGY MARKET OVERVIEW

The global k12 education technology market size was valued at USD 14.81 billion in 2023 and is projected to grow from USD 18.51 billion in 2024 to USD 112.22 billion by 2032, exhibiting a CAGR of 25% during the forecast period. Asia-Pacific holds leading position in k12 education technology market share in 2023.

Education and educational technology are referred to as K-12 in some countries, such as the United States, Canada, and perhaps others as well. A publicly-sponsored school grade before college is called a public grade. Kindergartners (K) and students from 1st to 12th grades (1-12) are enrolled. The 13th grade would be the first year of college if the term were used. Students' education outcomes are enhanced through the use of K12 education technology (EdTech), which includes hardware and software technologies used to enhance virtual learning in classrooms.

The use of K12 education technology for learning and teaching is assisting students in overcoming hurdles to receiving a comprehensive education. It has become increasingly popular for learners to access eBooks online from anywhere in the world. Compared to printed content, which has higher production costs, digital content is relatively easy to generate. A wide range of users can access digital books in different languages and translate and retrieve them easily. Moreover, learners with disabilities, especially those with physical disabilities, can listen to educational content in an audio format to improve their vocabulary and improve their reading comprehension. K12 education technology is growing these days due to the various types of technology within it.

COVID-19 Impact: Halt on Services to Hamper Market 

The global COVID-19 pandemic has been unprecedented and staggering, with the K12 education technology market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is a byproduct of the K12 education technology market growth and demand returning to pre-pandemic levels once the pandemic is over.

As a result of COVID-19, the K12 education technology market growth has also been drastically affected. The outbreak of COVID-19, several countries have enacted lockdowns, shutdowns, and mobility restrictions to prevent the virus from spreading. In preparation for the national governments' WFH (Work from Home) orders, companies are required to set up a completely separate workplace due to the presence of this disease. Schools are motivated to pursue innovative teaching and research because students can access the PLD (Professional Learning and Development) network. Distance learning is expected to benefit the industry because of the pandemic. The demand for LMS solutions has been high among vendors during 2020. Restrictions on border crossings, strict lockdowns, and supply chain issues hinder the deployment of LMS solutions on site. In order to regain customers' trust, businesses are focusing more on strong network connectivity in response to the pandemic.

Latest Trends

Increasing Awareness of Integration Technologies to Drive the Market

In an effort to engage their children more, parents are increasingly looking for EdTech solutions around the world. Technology integration also provides educational institutions with various benefits, including cost-effective expenditures, automation of student recruitment processes, and connectivity of people, teams, and software for end-to-end student lifecycle management. However, unique and flexible learning techniques such as gamification allow students to interact more, thus improving their learning ability. As a result, K12 education technology market growth will be driven by increasing awareness of technology's benefits.

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K12 EDUCATION TECHNOLOGY MARKET SEGMENTATION

• By Type

The market is classified into Learning Management Systems (LMS), Learning Content Management Systems (LCMS), Learning Content Development Systems (LCDS), Student Response Systems (SRS), Assessment Systems, and Collaboration Systems based on type. The Learning Management Systems (LMS) segment will lead the K12 education technology market share throughout the forecast period.

• By Application

The market is classified into online, and offline on the basis of application. The online segment will lead the K12 education technology market share throughout the forecast period.

Driving Factors

Development of LMS Technologies to Drive the Market

Cloud computing has undergone major changes due to the rise of 5G technology. As a result of 5G's low latency connectivity, communications are smoother and data transfers are faster. Video analytics and artificial intelligence made possible by 5G make the city safer. Consequently, city managers, building owners, and facility managers can provide intelligent public services. The market for learning management systems has a huge opportunity for growth as 5G evolves and realizes its full transformational potential.

Increasing Demand of Education Technology to Drive the Market

Academic and non-academic sectors of educational institutions use advanced technologies for operational efficiency, student enrollment management, and personalizing courses. Institutions are using CRM and LMS systems to manage student inquiries, enrolment, and customer service. In order to better analyze large volumes of data, edtech platforms are integrating sales automation technology. During the forecast period, K12 education technology is being adopted both in academic and non-academic spheres including business aspects, thereby driving the  K12 education technology market growth.

Restraining Factors

Distraction from Studies in Online Mode of Education to Restrain the Market

The online mode of K12 education is a restraining factor of the market since it requires an electronic device for the studies. The Internet and social media make using educational apps highly distracting and sidetracking for students. Although proper use has shown to increase student performance, distraction would be detrimental. In addition, cheating is more likely to occur.

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K12 EDUCATION TECHNOLOGY MARKET REGIONAL INSIGHTS

North America to Dominate the Market Owing to the Increase in the EdTech Sector

Globally, North America dominates the K12 education technology market. The increase in the U.S. EdTech will continue to dominate the regional market during the projected period due to private equity investments. A significant increase in revenue will attract additional funding and help companies differentiate themselves from newcomers as the industry matures.

In terms of market share, Asia-Pacific holds the second position after North America. There is an increase in the use of smart gadgets and the Internet in the community, which can be attributed to the increased use of the Internet. As broadband connections have become more affordable, many businesses have been able to reach people in developing countries like India. Technology is also increasingly being used to bridge the gap between educational infrastructure and learning resources in developing regions.

Key Industry Players

Key Players Focus on Partnerships to Gain a Competitive Advantage  

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List Of Top K12 Education Technology Companies

• VIP Kid (China)
• Yuanfudao (China)
• Byju’s (India)
• PowerSchool (U.S.)
• Sanoma (Finland)
• Pearson (U.K.)
• Kroton (Brazil)
• BlackBoard (U.S.)
• iTutorGroup (China)
• D2L (Canada)
• Acro Platform Ltd (U.S.)
• Learnosity (Ireland)
• Illuminate Education (U.S.)
• Bettermarks (Germany)
• Noon Academy (India)
• Toppr (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.