New York, NY (USA), April 2018 - Zion Market Research has published a new report titled "U.S. Education Market by Type (Cloud and On-Premise); by Content (Audio-Based Content, Video-Based Content, and Text Content); by Smart Learning Mode (Collaborative Learning, Virtual Instructor Led Training, Simulation Based Learning, Adaptive Learning, Social Learning, Blended Learning, and Webinars); by Component (Hardware, Software, and Service); by End User (Higher Education Institutes, K-12, and Pre-K)) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026".
According to the report, the U.S. education market was valued at around US$1,350 billion in the year 2017, and it is expected to reach approximately US$2,040 billion by 2026. The U.S. education market is expected to exhibit a CAGR of more than 4.5% between 2018 and 2026.
Browse through 11 tables and 29 figures spread over 110 pages and an in-depth TOC on "U.S. Education Market Size, Share, Growth, Segment Analysis, and Forecast, 2018 – 2026".
The developments in the education system in terms of learning have contributed positively to the U.S. education market. The rise in the demand for eLearning and the increasing emphasis on quality learning has triggered the growth of the U.S. education market. Growing initiatives by the government and increasing adoption of technological advancements in learning techniques by the private and the public schools are driving the growth of the U.S. education market.
Market Report Highlights
- High demand for online education in the U.S. is expected to propel the growth of education market in the country.
- The low number of children under the age group of 3–6 limits the growth of the pre-k segment by end users.
- Legal and regulatory issues in the U.S. education industry may constrain the country’s market growth.
- On-premises solutions dominate the type segment of the U.S. education market.
- Cloud-based solutions for education provide advantages over on-premises solutions such as lower start-up cost, improved accessibility, faster deployment, and enhanced data security, and thus will have a high growth rate in the forecast period.
- Video-based content in the U.S. education industry is estimated to account for the highest CAGR: 5.1% from 2018 to 2026. It is anticipated that video-based content will be increasingly adopted as it facilitates faster thinking, improves problem-solving skills, and also reduces training cost and time.
- Using the "smart learning mode", it is anticipated that virtual instructor-led training will witness the highest CAGR of 5% during the forecast period in the U.S. education market.
- The enhanced features provided by interactive displays have led to their major adoption in the U.S. education market. In 2017, this segment contributed around a 45% market share.
- By component, the service segment will witness the highest CAGR of more than 4.5% in the forecast period.
- Learning content management systems (LCMS) are the leading software in the U.S. education market.
- The growing enrollments in schools and the increased focus on quality learning are propelling the growth of the K-12 segment.