Fact.MR has recently conducted a detailed analysis on the global virtual schools market and has predicted it to evolve at a stellar CAGR of around 11% over the decade. This new virtual schools market report is equipped with all the essential information about the opportunities, risks, threats, and other factors required to make informed business decisions.
Market revenue totaled an estimated US$ 2.5 Bn in the year 2020. Demand for virtual schools in China is expected to increase rapidly at an impressive CAGR of nearly 15% through 2031.
Key Insights Covered in Virtual Schools Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Virtual Schools Market Revenue 2021
- Market Size of Virtual Schools market in 2021
- Virtual Schools Market Share 2021
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Leading Export - Import Destinations
- Global Virtual Schools Market Development Strategy
- Analysis of Top Vendors in the Virtual schools Market
- COVID-19 Impact on Virtual Schools and How to Navigate
- Recommendation on Key Winning Strategies
Demand Analysis of Virtual Schools from 2016 to 2020 Vs. Market Outlook for 2021 to 2031
Virtual schools are those that teach students via online media such as video conferencing over the Internet. There has been a lot of debate on how virtual schooling is not as effective as traditional schooling, but in recent years, the notion seems to be changing and people have been more accepting of virtual schooling trends.
While change was initially minimal, major boost in the popularity of virtual schools came in 2020 when the COVID-19 pandemic hit the world and bought it to a near standstill. Due to complete lockdowns, it wasn’t possible to conduct classes using the traditional schooling system, and most educational institutes across the world turned to virtual schooling.
Private education management organizations and non-profit education management organizations alike switched to virtual schooling when the pandemic hit. Even in 2021, there are many nations where schools have not been started with physical attendance, and this has majorly boosted demand for virtual schools.
Overall, the global virtual schools industry is expected to progress at a CAGR of nearly 11% over the next ten years.
How Much Did COVID-19 Influence Growth of Virtual Schools?
Emergence of COVID-19 was an unexpected event that no one anticipated. While most industries experienced a negative impact due to the pandemic, the virtual schools industry was one of the few that had a positive impact and grew in these challenging times.
Virtual schooling became the only option for education in the pandemic-affected world, and the benefits that were earlier claimed and preached became evident to consumers. Flexibility, ease of access, and popularity of distance learning are some of the major benefits of virtual schooling, thereby driving overall market expansion.
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Which Regions are Prime Markets for Virtual Schools?
This research details the global virtual schools industry landscape across regions such as North America, Latin America, Europe, APAC, and MEA.
North America and Europe are expected to be highly favourable markets for virtual schools. Quick adoption due to proliferation of technology and better Internet infrastructure are favoring market expansion across these regions. Demand for online schools in Germany is anticipated to rise at a CAGR of nearly 9% over the decade.
The APAC region is also anticipated to see decent growth in demand for virtual schools. China is expected to lead this regional market and is predicted to advance at an impressive CAGR of around 14% over the forecast period. Growth of virtual schools in emerging and developing economies is expected to be limited due to restraints of technology and lack of awareness among the general population.
The U.S., China, and Germany are some of the prime nations where virtual schools are expected to see major demand boost.
What is the Outlook for Key Virtual Schools in the U.S?
The U.S. is seeing tremendous increase in demand for virtual schooling. Virtual schools for private EMOs are expected to gain substantial popularity over the next ten years in the country.
Top virtual schools in the U.S. are aiming to capitalize and cash in on the potential that the regional market has to offer. The U.S. is expected to account for majority of the global market share and is expected to have tremendous revenue potential.
Is Demand for Virtual Schools in China Expected to Rise Further?
Emergence of COVID-19 in the last quarter of 2019 completely changed the way China would function in the year 2020. As coronavirus spread and became a global pandemic, China, the place of origin of the virus, went under a strict lockdown. As the world grappled to procure a vaccine, China and other nations implemented virtual schooling. Virtual schools for children and virtual schools for adults, both, are expected to see further increase in demand over the next ten years in the country.
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How is Demand from for-profit EMOs Expected to Advance Over the Decade?
Demand for private EMOs to provide virtual schooling is anticipated to rise at an impressive CAGR of nearly 12% over the decade.
Implementation of virtual schooling methods has been prominent in for-profit EMOs and private EMOs. Private virtual schools have gained immense popularity in the pandemic era as they provide education in these tough times and are efficient enough to conduct classes without hampering the progress of children.
What Does the Survey Say About Demand for Virtual Schools from Non-Profit EMOs?
Non-profit EMOs have not been able to adopt the virtual school trend as efficiently as private ones, and the major restraint factor is financial constraints. But this is now changing and non-profit EMOs are also increasing their footprint in the virtual schooling space.
Growth of non-profit EMOs in 2021 is expected to see a paradigm shift and adoption of the online school trend is expected to an increase over the years to come. Virtual schools for non-profit EMOs are expected to match private and for-profit virtual schools gradually over the coming years.
Top virtual schools market vendors are focusing on pushing the benefits of virtual schooling and are adopting various growth strategies to increase their market penetration. From organic to inorganic, all kinds of strategies are being resorted to by market participants.
- Cuemath, a one-on-one math learning program, has now been launched in the U.S. Bolstering mathematical literacy in the region is the aim for Cuemath, who had already enrolled 15,000 students in a pre-launch. It will be available for grades K to 10 and follows U.S. Common Core accredited by STEM.org.
- Larsen & Toubro, a renowned name in the construction industry, has also announced its plan to enter the online education space, and will be launching application-based learning for engineering students.
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Virtual Schools Industry Report Scope
Historical Data Available for
|US$ Mn for Value|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Taxonomy of Virtual Schools Industry Report
- Private EMOs
- Non-profit EMOs
- Use of Virtual Schools in Elementary Schools
- Use of Virtual Schools in Middle Schools
- Use of Virtual Schools in High Schools
- Use of Virtual Schools in Adult Education
- FAQs -
The virtual schools industry in Canada is expected to rise at a CAGR of around 10% over the forecast period.
K12 Inc., Connections Academy, and lorida Virtual School (FLVS) are some of the top players profiled in the research.
Trends such as increasing use of digital technology in education and ease of access to education from any part of the world via the Internet are set to be prevalent and drive demand for virtual schools.
The virtual schools market is predicted to progress at an astounding CAGR of nearly 11% through 2031.
As per this research, the global virtual schools market was worth around US$ 2.5 Bn in 2020.
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