The increase in demand for in-person learning and rising expenditure on obtaining quality education is expected to drive the market during the forecast period. The factors such as rising disposable income and availability of convenient learning opportunities will provide lucrative opportunities to the forthcoming future. The growing awareness regarding the importance of education and rising government expenditure on the development of education infrastructure is anticipated to foster the growth of the in-person learning industry
According to a new report published by Allied Market Research, titled, “In-Person Learning Market by Course Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global in-person learning market was valued at $ 17,910.2 million in 2020, and is projected to reach $74,161.2 million by 2030, registering a CAGR of 10.0% from 2021 to 2030.
In-person learning generally promotes tutors including professional trainers to impart knowledge in students. Moreover, students are likely to retain more knowledge and skill in this learning to achieve success or desire goals. In addition, aggressive competition, increased concerns about health, rise in expenditure on improving living standards, high disposable income, and availability of convenient learning opportunities are some of the factors contributing towards the in-person learning market growth.
The rising government initiatives to educate rural students in the Asia-Pacific market is expected to contribute exponentially towards the growth of the market during the forecast period. Countries such as China, India, and Indonesia, are providing lucrative growth opportunities to the market players owing to the factors such as rising disposable income, rapid urbanization, rising number of private educational institutions, and rising demand for the quality education among the students to clear competitive exams.
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The outbreak of the COVID-19 pandemic in 2020 had a huge and negative impact on the in-person learning market growth. During the COVID-19 pandemic, education as well as training institution across the globe has shut down which impacted their business. However, majority of the students adopted digital learning platforms such as Unacadmey, Bjyu’s, and numerous other online learning platforms. The rapid penetration of the digital learning platforms across the globe has presented a tougher challenge for the market players operating in the market, and it is also expected that a huge part of the revenue lost during the COVID-19 may never recover owing to the increased penetration of the digital learning platforms.
According to the in-person learning market analysis, the market is segmented based on course type, application, end user, and region. On the basis of course type, the market is categorized into academics, arts, sports as well as other training. Moreover, on the basis of application, the market is categorized into at-home teaching and cram school. On the basis of end user, the in-person learning market is fragmented into pre-school children, middle school students, high school students and college students. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, United Arab Emirates and Rest of LAMEA).
As per the in-person learning market trends, by course type, the academics segment garnered the highest market share in 2020, due to availability of wider variety of courses as well as growing participation of the global students in different variety of academic courses in high schools, colleges, and universities.
By application, the cram segment led the market with significant 80.9% of the in-person learning market share in 2020. This is attributable to the factors such as increasing number renowned universities and increased liberalization to adopt new techniques to facilitate smooth learning for the students.
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According to the in-person learning market forecast, by end user, the pre-school children segment is expected to be the fastest-growing segment during the forecast period, owing to the increasing concern of parents to build their basic skills of their kids before they enter into the real world. The high school student segment dominated the market in 2020, garnering a market share of 38.3%. The increased demand for upgrading skill to excel in their respective fields as well as to clear competitive exams are the major factors that drives the growth of this segment.
Key market strategies implemented by market players include product launches, mergers and acquisitions, joint ventures, partnerships, acquisitions, and geographic expansion. Product innovation is being prioritized by prominent market players in order to provide consumers with more innovative products. The key players in the global in-person learning market include are Sylvan Learning, LLC., Wayzant, Inc. (IXL Learning), Kaplan, Inc., Eurocenters, INSEAD, British Study Centres, Triumphant Institute of Management Education pvt. Ltd, Vibrant Academy, Quadrangle Tutors, ITS Education Asia, The Learning Lab, and All A’s Tution Centre.
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Key findings of the study
The global in-person learning market was valued at $ 17,910.2 million in 2020, and is projected to reach $ 74,161.2 million by 2030, registering a CAGR of 10.0% from 2021 to 2030.
By course type, the academic was the highest contributor to the market, with $11,616.5 million in 2020, and is estimated to reach $44,803.4million by 2030, at a CAGR of 9.6% during the forecast period.
By application, the cram school was the highest contributor to the market, with $ 14,495.8 million in 2020, and is estimated to reach $59,365.4 million by 2030, at a CAGR of 10.3% during the forecast period.
By end-user, the high school students’ segment was the highest contributor to the market, with $6,861.3 million in 2020, and is estimated to reach $27,447.1 million by 2030, at a CAGR of 10.0% during the forecast period.
By region, Asia-Pacific was the highest revenue contributor, accounting for $ 5,835.1 million in 2020, and is estimated to reach $ 26,534.9 million by 2030, with a CAGR of 11.4%.