The Global STEM Education In K-12 Market size is expected to reach $86.7 billion by 2028, rising at a market growth of 13.0% CAGR during the forecast period
STEM education refers to the concept of education specifically for four disciplines that include science, technology, engineering and mathematics. These four disciplines are considered four pillars of the economy as they play an important role in preventing any possible future crisis.
New York, Dec. 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global STEM Education In K-12 Market Size, Share & Industry Trends Analysis Report Per Type, By Application, By Regional Outlook and Forecast , 2022 – 2028” – https://www.reportlinker.com/p06374162/?utm_source=GNW
Through STEM education, the students at primary and secondary levels learn about facts and thinking methods to solve problems that may occur in the real world.
STEM education can accelerate entrepreneurship as well as the startup culture, as the learners will be educated about the real world. Furthermore, the rise of smart devices has led to the presence of a large number of applications. Each such application is a solution and may be a separate organization.
It offers more jobs worldwide, many of which are from successful companies. STEM education can therefore be a solution to tackle possible future unemployment issues. These days, introducing kids to STEM education at the primary level and familiarizing them with terms like websites and coding is crucial.
Children are now more exposed to smart gadgets like mobile phones, voice assistance, etc., so it is natural that they have many unsolved queries about the technology. Subjects such as coding, AI and robotics are introduced to children at an early age by various ed-tech providers.
COVID-19 Impact Analysis
The outbreak of COVID-19 has negatively affected the world’s economy. The pandemic has led to lockdowns around the world, along with mass quarantines and the need for social distancing to prevent the spread of the virus. Additionally, the pandemic period has caused significant disruption to the education system in K-12. The global lockdowns and closure of various sectors also included the closure of educational programs and academic institutions, which also negatively affected STEM education. Due to imposed restrictions, several schools had to stop in-person learning and switch to computer-based education systems.
Market growth factors
Emergence of online learning platforms
The rise of software solutions will serve institutes with improved resource planning systems that help faculty members design more advanced courses and enable them to effectively manage classrooms and schools. Various online learning platforms allow teachers to address a large number of students in a group by creating virtual classrooms. These platforms provide students with a direct connection to their teacher.
Growing adoption of AI
The application and adoption of artificial intelligence in various sectors is constantly increasing, and the education sector is no exception. Artificial intelligence is increasingly being used in schools and educational institutions to improve teacher and student engagement by making learning more practical and exciting. The growing adoption of AI in classrooms will support the adoption of STEM education. Artificial intelligence for K-12 is becoming mainstream these days.
Market Restraining Factors
Need for adequate infrastructure increases overall costs
To have successful STEM integration arises the need for adequate resources and infrastructure, such as time, space and the latest technology. In addition, educators are expected to work with colleagues from other disciplines while addressing STEM lessons. This further increases the need for more efficient infrastructure. The requirement for advanced infrastructure creates a need for a large amount of funds to be invested initially and, in some cases, repeatedly, as new technologies are continuously introduced into the market.
Based on type, the STEM education in K-12 market is segmented into self-paced and instructor-led. In 2021, the self-paced segment dominated the STEM education in the K-12 market with a maximum revenue share. This is due to the growing popularity of individualized learning, which allows students to learn at their own pace. Various self-learning platforms, such as FutureLearn and Pearson, are emerging around the world. Self-paced learning is gaining traction in primary and elementary grades.
Based on application, the STEM education in K-12 market is fragmented into elementary school (K-5), middle school (6-8), and high school (9-12). The elementary school segment covered a significant revenue share in STEM education in the K-12 market in 2021. The concept of STEM education has received great attention among the elementary education systems. It is expected that the primary school segment will widely adopt the concept of STEM education in their curricula to enable the student to improve their science and technology skills.
Regionally, the STEM education in K-12 market is analyzed in North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the STEM education in K-12 market by generating the highest revenue share. The United States will widely incorporate STEM education into its education system due to the favorable policies offered by the government. Not only the schools and private organizations, but the policy makers are also promoting STEM education in K-12.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Stride, Inc., edX, Inc. (2U, Inc.), BYJU’S, Hurix Systems Pvt. Ltd., STEM Learning Ltd., MEL Science, STEMI doo, STEMROBOTM Technologies Pvt Ltd., Edutech, and StemLabs Education.
Scope of the study
Market segments covered in the report:
According to type
• Own pace
• Instructor led
• High school (9-12)
• Middle School (6-8)
• Elementary school (K-5)
• North America
o Rest of North America
o Rest of Europe
• Asian Pacific Ocean
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Stride, Inc.
• edX, Inc. (2U, Inc.)
• Hurix Systems Pvt. Ltd.
• STEM Learning Ltd.
• MEL Science
• STEMI doo
• STEMROBOTM Technologies Pvt Ltd.
• StemLabs Education
• Exhaustive coverage
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• Assured after sales research support with 10% customization free
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