New York, June 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Secondary School Global Market Report 2023" - https://www.reportlinker.com/p06464167/?utm_source=GNW
, Little Green Rascals Organic Nurseries Ltd., Copthall School, Walla Walla Public Schools, Tallahassee Classical School LLC, TAL Education Group, Adtalem Global Education Inc., Chegg Inc., Hailiang Education Group, New Oriental Education & Technology, Bright Horizons Family Solutions, Grand Canyon Education Inc., and GSX Techedu Inc.
The global secondary school market is expected to grow from $402.11 billion in 2022 to $437.54 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The secondary school market is expected to reach $601.07 billion in 2027 at a CAGR of 8.3%.
The secondary school market includes revenues from school establishments by offering secondary school education to students.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
A secondary school refers to a high school or a school intermediate between a primary school and a college or university and usually offers general, technical, and vocational courses. It enables students to develop independent learning abilities, establish and meet goals, and participate in society more broadly.
Asia-Pacific was the largest region in the elementary and secondary school market in 2022. The regions covered in secondary school report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of expenditures for secondary school are public and private.Public refer to secondary schools that provide education in a state, province, or nation to students free of charge.
The various ownerships are government, local body, and others with various fee structure that includes low-income, medium-income, and high-income.
The increasing demand for educational services is expected to propel the growth of the secondary school market going forward.Educational services refer to services provided by certain public or private establishments to train or provide instruction-based learning on any subject to students or other individuals.
These educational services are provided by certain public or private establishments like primary schools, elementary schools, secondary schools, and colleges.Therefore, the increasing demand for educational services is driving the growth of the secondary school market.
For instance, in October 2021, according to the U.S. Census Bureau, a US-based principal government agency of the U.S. Federal Statistical System, the total US elementary and secondary school revenue was $584.9 billion in FY 2020, up 2.2% from $572.5 billion. The increasing revenue will impact the demand for educational services, thus driving the secondary school market.
Technological advancements are a key trend gaining popularity in the secondary school market.Companies operating in the secondary school market are adopting new technologies to strengthen their position in the market.
For instance, Edkasa, a Pakistan-based ed-tech platform offering an online learning, launched a mobile application to transform on-demand education in Pakistan aiming to reach millions of secondary school students. This software can be downloaded for Android users and includes a preliminary assessment to determine a student’s needs before providing tailored study routes based on those needs, such as preparation for a certain exam.
In November 2020, AcadeMedia, a Sweden-based education company, acquired the Swedish Education Group AB for an amount of USD 17.81 million (SEK 185 million). Through this acquisition, AcadeMedia aims to work together with the Swedish Education Group’s staff and management to develop the organization as a whole and strengthen its position as a long-term education provider. Swedish Education Group AB is a Sweden-based education company that operates one compulsory and three upper secondary schools located in Stockholm, Gothenburg, and Malmö.
The countries covered in the secondary school market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The secondary school market research report is one of a series of new reports that provides secondary school market statistics, including secondary school industry global market size, regional shares, competitors with a secondary school market share, detailed secondary school market segments, market trends and opportunities, and any further data you may need to thrive in the secondary school industry. This secondary school market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464167/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
