Virtual Schools Market

Technological innovation and advancements drive the market dynamics, enabling development of more sophisticated & interactive online learning platforms

PORTLAND, PORTLAND, OR, UNITED STATE, August 21, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Jam-packed Opportunities for Investors | The Virtual Schools Market Share Reach USD 20.6 Billion by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global virtual schools market was valued at USD 11.3 billion in 2023, and is projected to reach USD 20.6 billion by 2032, growing at a CAGR of 7.2% from 2024 to 2032.

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The global virtual schools market is experiencing growth due to several factors such as rise in demand for flexible learning environment, increase in demand for virtual classroom-based education, and rise in popularity of blended learning pedagogies. However, rise in eye disorders and obesity due to huge time spent by students on screen hinders market growth to some extent. Moreover, the onset of ML and AI technologies offers remunerative opportunities for the expansion of the global virtual schools market.

The virtual schools market is segmented into type, end user, and region. On the basis of type, the market is divided into profit EMOs and non-profit EMOs. On the basis of end user, the market is divided into elementary schools, middle schools, high schools, and post-secondary. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

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Recent Key Strategies and Developments

● In March 2022, Bruhat Bengaluru Mahangara Palike (BBMP) School in Bangalore imparted innovative learning by adding 60 digital classrooms and seven computer labs with 20 computers in each lab. This initiative is expected to help teachers teach students through 3D digital models, improving education and a better understanding of the concepts.

● In January 2023, Creative Galileo, an ed-tech startup announced the release of Toondemy, an educational learning app. The app offers a complete educational journey for students aged 3-10 years in line with NEP, NCERT, and CBSE to construct cognitive capabilities, and strong foundational concepts, learn phonics, and conceive new innovative skills.

● In November 2023, Stones2Milestones, an Indian edtech platform, partnered with Finnish Global Education Solutions Oy. The partnership aims to focus on integrating the Finnish learning approach into Indian schools, with a focus on numeracy and literacy and numeracy, teacher professional development, and the development of advanced technology solutions for broader global implementation.

● In April 2023, Echo360 introduced EdTech SaaS platforms, namely EchoPollTM for interactive polling, EchoVideoTM with enhanced editing tools and accessibility, and ExamViewTM with advanced assessment features. These launches aim to transform learning experiences, emphasizing engagement, accessibility, and streamlined workflows, establishing Echo360's position as an EdTech leader.

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By type, the profit EMOs segment held the highest market share in 2023, accounting for more than half of the global virtual schools market revenue and is likely to retain its dominance during the forecast period, owing to the expansion of personalized learning, where EMOs leverage advanced data analytics and adaptive learning technologies to tailor educational content and pacing to individual student needs. This approach enhances student engagement and outcomes by addressing diverse learning styles and abilities. However, the non-profit EMOs segment is projected to attain the highest CAGR of 10.3% from 2024 to 2032, owing to focus on equity and accessibility, with non-profit EMOs striving to bridge the digital divide by ensuring that all students, regardless of socio-economic background or geographic location, have access to high-quality virtual education. This trend involves initiatives such as providing devices and internet connectivity to underserved communities and offering scholarships or financial aid to students in need.

By end user, the high schools segment held the highest market share in 2023, accounting for nearly one-third of the global virtual schools market revenue and is likely to retain its dominance during the forecast period, owing to the increasing demand for personalized learning experiences. Virtual high schools are leveraging adaptive learning technologies, data analytics, and individualized instructional approaches to tailor education to the unique needs, interests, and learning styles of each student. This trend allows for greater flexibility and customization, empowering students to progress at their own pace and explore topics in-depth, ultimately leading to improved academic outcomes and student engagement. However, the post-secondary segment is projected to attain the highest CAGR of 11.9% from 2024 to 2032, owing to the expansion of online degree programs and course offerings offered by traditional colleges and universities. As more institutions embrace virtual learning platforms, students have greater access to a wide range of degree programs, certificates, and courses delivered entirely online. This trend enables learners to pursue higher education without geographical constraints, allowing for flexibility in scheduling and accommodating diverse lifestyles and commitments.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global virtual schools market revenue and is expected to rule the roost in terms of revenue during the forecast timeframe, owing to the rapid growth of virtual schools, driven by factors such as population growth, urbanization, and advancements in technology. Countries such as China, India, Japan, and Australia are experiencing surge in the adoption of virtual schooling to address challenges related to access to quality education, especially in remote and underserved areas. Governments in the Asia-Pacific region is investing in virtual education infrastructure, developing online learning platforms, and providing funding for virtual schools to expand access to education and improve learning outcomes. These initiatives aim to leverage technology to overcome barriers to education, promote inclusivity, and enhance educational equity across diverse populations.

The major players operating in the virtual schools market include Brigham Young University, Pansophic Learning, Mosaica Education, Inc., Pearson Education, Inc., Florida Virtual School, Stride, Inc., American Virtual Academy, Coursera Inc., Stanford University, and edX LLC

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