Market Research Future (MRFR) has published on the “Global Government Education Market”.
The government education market is estimated to register a CAGR of 18.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global government education market - NIIT Limited., Ernst & Young Global Limited, SWAYAM, Australian Government Department of Education, EducationUSA, Heidelberg University, Info Edge (India) Limited, Humboldt University of Berlin, Queensland University of Technology, and Nuri-Sejong Institute.
Market Highlights
The global government education market is accounted to register a CAGR of 18.00% during the forecast period and is estimated to reach USD 2105.71 billion by 2032.
The main drivers of the market's expansion are the growing use of technology in education, population expansion, urbanization, and demographic changes. Globally, governments are allocating resources towards digital infrastructure, EdTech solutions, and e-learning platforms with the aim of improving the dissemination of educational materials, enabling distance learning, and equipping students for a future driven by technology. Additionally, by encouraging cooperation between public and private institutions, public-private partnerships (PPPs) play a strong role in the market for government education.
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Segment Analysis
The global government education market has been segmented into sector and delivery mode.
On the basis of sector, the market is segmented into Preschool, K-12, Higher Education, and Others. The K-12 segment was attributed to holding the largest market share in 2023. Most K–12 education, which serves a substantial portion of children globally, covers primary and secondary education. K–12 institutions usually get a sizeable portion of the government's large funding allocations for elementary and secondary education. Technology is becoming an increasingly common teaching tool in K–12 classrooms.
Based on delivery mode, the global government education market has been segmented into Online and Offline. The offline segment was expected to hold the largest market share in 2023. Traditionally, classroom-based teacher preparation programs, government investments in traditional educational infrastructure, and the value of physical learning environments make up the largest share of the components. It also emphasizes in-person interactions between teachers and students, which promotes a collaborative and social learning environment.
Regional Analysis
The global government education market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The European government education market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The government education market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World government education market comprises the Middle East, Africa, and Latin America.
The largest market share for government education was maintained by the North American regional sector. The region's primary, intermediate, and postsecondary education systems are firmly established, financially secure, and significantly contribute to generating revenue. In addition, large government spending on education, state-of-the-art technical infrastructure, and an emphasis on research and development all increase the overall competitiveness of North American educational institutions.
Moreover, the European market has been persistently growing over the forecast period, driven by several factors, such as higher investments in educational infrastructure, the utilization of digital learning resources, and initiatives to raise the standard and accessibility of education. The governments in the area have placed a strong emphasis on updating educational programs to better equip students for the workforce of the twenty-first century. As a result, funding for educational programs and resources has increased.
Additionally, Asia-Pacific is anticipated to experience the quickest growth over the forecast period. The Asia-Pacific region is home to a substantial and rapidly growing population, many of whom are young students. The growing need for education, particularly at the basic and secondary levels, is driving the market's expansion. In addition, a lot of the region's nations are actively making investments in educational policies and infrastructure to raise the standard and accessibility of education.
Furthermore, the Rest of the World's government education market is divided into the Middle East, Africa, and Latin America. In recent years, the rest of the world's government education market has grown significantly. These regions' governments have made investing in education a top priority in order to raise literacy rates, increase worker competencies, and promote economic growth. Numerous causes, including population increase, urbanization, rising enrolment rates, and a growing understanding of the value of education for the advancement of the country, can be blamed for this growth.
Key Findings of the Study
- The global government education market is expected to reach USD 2105.71 billion by 2032, at a CAGR of 18.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market. The market is expanding due to the increasing need for education, especially at the basic and secondary levels.
- Based on delivery mode, the offline segment was attributed to holding the largest market in 2023, with an approximate market share of 65%.
- NIIT Limited., Ernst & Young Global Limited, SWAYAM, Australian Government Department of Education, EducationUSA, Heidelberg University, Info Edge (India) Limited, Humboldt University of Berlin, Queensland University of Technology, and Nuri-Sejong Institute are the key market players in this market.
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Companies Covered | 15 |
Pages | 128 |
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