The in-person learning market is expected to grow by 2028 owing to the increase in spending on pursuing quality education. The Cram schools sub-segment is expected to have the highest market share. market in Asia Pacific be the fastest growing.
NEW YORK, July 29, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled “In-Person Learning Market by Type of Course (Academic, Arts, Sports, and Other Courses), Application (Elementary School and Home Schooling), End User (Preschoolers, Middle Schoolers, High School Students, and College Students), and regional analysis (North America, Europe, Asia Pacificand LAMEA): Global Opportunities Analysis and Industry Forecast, 2021-2028“.
According to the report, the global in-person learning market is expected to grow at a breakneck pace CAGR of 10.3% over the period 2021-2028Thus collect $38,220.5 million by 2028.
In-person learning market dynamics:
Drivers: In-person learning has many associated benefits, such as developing interpersonal skills, providing hands-on learning, better academic results, and more. These advantages are expected to be major factors driving the growth of the in-person learning market in 2021. -Timeline 2028. Along with this, growth in spending to opt for quality education is also expected to drive the market in the years of forecast.
Opportunities: In recent years, governments of various countries around the world have started to invest heavily in the education sector, in order to improve the level of education in their respective countries. As a result, many governments have put in place several initiatives to educate rural people, which is expected to provide huge growth opportunities for the in-person learning market. Moreover, the benefits associated with in-person learning such as the overall cognitive development of students are also expected to drive the market in the coming years.
Constraints: However, the growing popularity of e-learning may hamper the growth rate of the in-person learning market.
Impact of Covid-19 on the in-person learning market:
The Covid-19 pandemic, since its onset, has been disastrous for industries and businesses around the world. This was mainly due to the closures and travel restrictions imposed by the governments of different countries around the world, in order to curb the spread of the virus. The in-person learning market is among the sectors hardest hit by the pandemic. The main reason for this negative impact is obviously the confinement which has restricted the entry of students and teachers into schools and colleges, thus leading to their virtual closure. Along with this, the shift to online education has further aggravated the market situation.
In-Person Learning Market Segments:
The report has divided the in-person learning market into different segments on the basis of course type, application, end user and region.
- By course type, the academics in-person learning sub-segment is expected to have a dominant market share and is expected to earn a substantial income from $25,323.0 million by 2028. Growing investments in in-person learning methodologies, especially from countries like China and Indiaso as to educate the rural population is expected to be the major reason for the growth of this sub-segment.
- By application, the cram schools sub-segment is expected to generate maximum revenue from $30,797.0 million by 2028, becoming the most lucrative sub-segment. The growth in disposable incomes in countries like India and Chinaand parents increasingly saving for their children’s education are expected to be the top two factors driving the growth of this sub-segment.
- By end-user, the high school students sub-segment of the in-person learning market is expected to have the highest market share and gearn an income of $13,865.8 million by 2028. The additional expenditure by families across the world to educate children to facilitate their physical, emotional, social and academic development is expected to be the primary growth driver for this sub-segment.
- According to a regional analysis, the in-person learning market in Asia Pacific the region should be the fastest growing as well as the most dominant sub-segment with a CAGR of 11.0%. The ever-increasing demand for in-person learning coupled with various government initiatives is expected to drive the growth of this sub-segment over the forecast years.
Key players in the in-person learning market:
Key players in the in-person learning market are
- Sylvan Learning, LLC
- Wyzant, Inc.
- Kaplan, Inc.
- British Study Centers
- Triumphant Institute of Management Education Pvt. ltd
- Dynamic Academy
- All Tuition A
- ITS Education Asia. among others.
These key market players are developing different strategies such as product development, mergers and acquisitions, partnerships and collaborations to gain a leading position in the market. – Inquire here before purchasing the full report
For example, Microsoft, the world’s leading technology company, in September 2021, announced the acquisition of TakeLessons, an online and in-person learning platform. The need to meet the growing demand for quality education led to this acquisition by Microsoft. This will help the tech giant significantly expand its customer base.
The Research Dive report also summarizes many crucial aspects of the market including SWOT analysis, latest strategic developments, financial performance of key players, and product portfolio.
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