Virtual Schools Market Size, Share, Trends, Growth, and Global Industry Analysis, By Type (For-Profit EMO and Non-Profit EMO), By Application (Elementary Schools, Middle Schools, High Schools, and Adult Education), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

VIRTUAL SCHOOLS MARKET REPORT OVERVIEW

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The global virtual schools market size is expected to be USD 3957.3 million in 2021 and is projected to touch USD 12769.52 million by 2031, at a CAGR of 12.4% during the forecast period. In the market study, our analysts have considered virtual schools players such as Stride Inc., Connections Academy, Pansophic Learning, Florida Virtual School (FLVS), Charter Schools USA, Lincoln Learning Solutions, Inspire Charter Schools, Abbotsford Virtual School, Alaska Virtual School, Basehor-Linwood Virtual School, Acklam Grange, Illinois Virtual School (IVS), Virtual High School (VHS), Aurora College, Wey Education Schools Trust, Beijing Changping School and IN High School. 

Virtual schools are online schools that provides education to through online mode of education. In other words, it is a school that uses internet and provides education at home. It eliminates physical interaction between students and teachers. It uses more than one technologies to deliver education. It is most commonly used in school or college level or older students who tend to study online programs. It also enables students to earn credits to help them to take the next level of education.   

Virtual schools market growth is driven by the demand for digital transformation as it offers new digital capabilities. Expansion in telecom and broadband sector increased the adoption of economical internet connection plans. Preference to have expanding interests and to have versatile and adaptive learning techniques is expected to drive the market growth. Increasing demand for e-commerce platforms amongst large schools and focus on developing personalized learning solutions. Development of cloud-based solutions and investments in such technologies is expected to increase the market share during the forecast period.

COVID-19 Impact: Growth in Online Education to Impel Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with virtual schools experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the virtual schools market growth and demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic are already being felt on a global level, the global virtual schools market was considerably influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. Due to pandemic, there were presence of social distancing norms which led to shutdown of schools. This led to the adoption of online education during the pandemic which propelled the growth for virtual schools. Distance learning became a trend and necessity during the pandemic which created the demand for online education.   

LATEST TRENDS

"Integration of Advanced Technologies to Enhance Market Progress"

The global virtual schools market growth is projected to grow owing to adoption of new technologies. The opportunity in the market is characterized by utilization of technology in the education sector. Adoption and integration of learning management systems (LMS) to manage and organize learners’ content is expected to create expansion for the market. LMS is a software application that are used to plan, implement, and assess learning processes. Enhanced interactive user interface enables learners is expected to increase the adoption of online learning. Such integration of technologies in virtual schools is expected to pose an opportunity for market growth during the forecast period.  

VIRTUAL SCHOOLS MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into for-profit EMO and non-profit EMO.

For-profit EMO is expected to be the leading part of the type segment.  

• By Application

Based on application; the market is divided into elementary schools, middle schools, high schools, and adult education.

Middle schools is expected to be the leading part of the application segment.  

DRIVING FACTORS

"Penetration of Internet to Propel Market Growth "

Increasing penetration of internet has enabled the propulsion of virtual schools market growth. Growing penetration of internet in developing and developed economies and flexibility in availability of educational information. Information can be accessed from anywhere and at any time. Presence of free content is expected to drive the demand for online education and online learning. Many companies and online education service providers are implying such marketing strategies that can increase the penetration of free content. Such growing demand for the virtual schools is anticipated to provide lucrative opportunities for the market.

"High Investments by Service Providers to Inflate Market Progress"

Adoption of virtual schools is due to high investments by the service providers. Sudden outbreak of the COVID-19 pandemic led to the increase in R&D investments which accelerated the requirement and demand for online education. Closure of schools and colleges led to an increase in alternative classroom sessions which encouraged companies to led adopt online education. Innovative education solutions to cater to rising demand to have different types of education which is anticipated to accelerate growth.

RESTRAINING FACTORS

"Lack of Proper Internet Connectivity to Hamper Market Growth"

There are a number of factors that can propel the growth of the virtual schools market. Restraining factors such as lack of presence of proper internet connectivity. Problems in the internet connectivity in various geographical areas creates challenges for users to access the educational information which can hamper market growth. Such lack of presence of proper internet connectivity is anticipated to restrict and limit the market growth.

VIRTUAL SCHOOLS MARKET REGIONAL INSIGHTS

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"North America to Dominate Market Share Owing to Advanced Education Infrastructure"

North America holds the largest part in the global virtual schools market share owing to rapid adoption of integration and adoption of technology to propel the growth in the region. Demand for online education and infrastructure for online education is anticipated to drive the service demand. Increasing penetration of internet and immersion of digital technology is expected to propel market growth. Preferences for online courses and education using effective platforms for distance learning is projected to drive market growth. Development of new technologies such as 5G technology is changing the scenario of virtual reality in the region.  

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Stride Inc. (U.S.)
• Connections Academy (U.S.)
• Pansophic Learning (U.S.)
• Florida Virtual School (FLVS) (U.S.)
• Charter Schools USA (U.S.)
• Lincoln Learning Solutions (U.S.)
• Inspire Charter Schools (U.S.)
• Abbotsford Virtual School (Canada)
• Alaska Virtual School (U.S.)
• Basehor-Linwood Virtual School (U.S.)
• Acklam Grange (U.K.)
• Illinois Virtual School (IVS) (U.S.)
• Virtual High School (VHS) (Canada)
• Aurora College (India)
• Wey Education Schools Trust (U.K.)
• Beijing Changping School (China)
• IN High School

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of 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, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.