New York, USA, April 13, 2022 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the global in-person learning market is anticipated to generate a revenue of $38,220.5 million and rise at a CAGR of 10.3% over the analysis period from 2021-to 2028.
As per our analysts, with the rising importance of education among parents to enroll their children in better schools, colleges, and training institutes, the market is expected to witness remarkable growth during the forecast timeframe. Besides, students from all across the globe are spending a high amount of money to pursue their careers in the medical, business fields, or technology sector, which is predicted to amplify the growth of the in-person learning market over the analysis period. Moreover, the growing government initiatives to educate rural students is expected to create huge growth opportunities for the market during the estimated timeframe. However, the growing popularity of online learning may hinder the growth of the market over the forecast period.
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Segments of the Market
The report has been divided the in-person learning market into segments based on type, application, end-user, and region.
Type: Academics Sub-Segment to be Most Productive
The academics sub-type is projected to generate a revenue of $25,323.0 million during the estimated period. This is mainly due to the increasing investments in providing quality education to rural students in developing countries worldwide. Furthermore, the growing government initiatives to support and improve education infrastructure are expected to propel the growth of the in-person learning market sub-segment during the forecast period.
Application: Cram School Sub-Segment to be Most Lucrative
The cram school sub-segment is predicted to garner a revenue of $30,797.0 million during the analysis period. This is mainly because of the growing disposable income among individuals in developing countries which has increased the spending on quality education. In addition, the growing preference of students to study abroad for standard education and better employment options are the major factors expected to boost the growth of the in-person learning market sub-segment during the estimated period.
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End-User: High School Students Sub-Segment to be Most Beneficial
The high school students’ sub-segment is predicted to generate a revenue of $13,865.8 million over the analysis timeframe. This is majorly because parents are spending more money on their children’s social, physical, emotional, and academic development. Moreover, the increasing focus of parents on improving the cognitive abilities of their children is expected to fuel the growth of the market sub-segment during the forecast period.
Region: Asia-Pacific Region to Have the Largest Share of the Market
The Asia-Pacific region of the in-person learning market is expected to generate a revenue of $12,880.3 million over the estimated timeframe. This is mainly because of the high demand for quality education and supportive government initiatives in this region. Furthermore, the increasing investment in higher education in this region is expected to drive the regional growth of the market throughout the analysis period.
Covid-19 Impact on the Market
The outbreak of the Covid-19 pandemic has had a negative impact on the in-person learning market. Due to the spontaneous transmission of the deadly virus, people started isolating themselves from public gatherings, colleges, schools, universities, institutions, and many more. Furthermore, most countries have decided to split the schools into two cohorts to maintain the social distancing protocol. Most countries started opting for complete online learning platforms, such as Zoom or Google Meet to avoid the risk of getting infected by the virus. All these factors have drastically declined the growth of the market during the period of crisis.
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Key Players of the Market
The major players in the in-person learning market include
- British Study Centers
- Triumphant Institute of Management Education Pvt. Ltd
- Kaplan, Inc.
- Vibrant Academy
- Wyzant, Inc.
- All A’s Tuition
- Sylvan Learning
- ITS Education Asia
These players are broadly working on the development of new business tactics such as mergers and acquisitions, partnerships and collaborations, and product development to attain leading positions in the global industry.
For instance, in January 2021, Sylvan Learning Inc., a franchised and corporate supplemental learning center that provides personalized instruction in reading, writing, mathematics, study skills, and many more, announced its partnership with Elevate K-12, a leading provider of high-quality live-streamed teaching and learning opportunities for teachers and students. With this partnership, the companies aim to revolutionize the learning experience for students and provide flexible work opportunities for teachers.
In addition, the report also presents other important aspects such as SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic developments.
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