The innumerable benefits offered to the child to enhance wholesome development and growing user awareness along with improved disposable income are expected to provide opportunities for the global early childhood education market
The global early childhood education market is estimated to reach closely to 520 billion by 2028 at a CAGR of over 15 %. Early childhood education also known as nursery or pre-school education is a type of education that prepares the child for primary school. Moreover, it aims at holistic development of a child from social, emotional, to physical needs. Early child education is most commonly introduced as early as birth through the age of eight.
For example, teaching students formally and informally in child-care centers, group child care homes, or family child care homes are just some of the vital components of the pre-school industry. The concept of early childhood education is incorporated to facilitate the mental, emotional, and physical well-being of a child. Early literacy skills and social & emotional skills can also be classed under early childhood education.
The global early child education market looks attractive as the market is experiencing fierce competition among the well-established, new & emerging market players. The new players are providing new and innovative solutions attracting more consumers. These development milestones in the pre-school industry are mainly ascribed to the increasing demand for early childhood education due to the benefits it offers to the child’s all-round development. This has provided opportunities to the market players to come with child friendly and innovative pedagogical methods in the market.
However, lack of proper curriculum, student management practices, and safety concerns are some key challenges challenging seamless growth in the global early childhood education market. Furthermore, operators of educational organizations are overcoming the challenges by implementing strategies like organizing teachers and parents training programs, incorporation of innovative methods, and infrastructural upgradations which are anticipated to be significant growth opportunities in the global early childhood education market.
Adroit Market Research report on the global early childhood education market does independent research and analysis of the market from 2021 to 2028. The report presents conclusions of historical years, from 2019 to 2020 featuring the developments in the early childhood education space like policies, practices, trends, and issues. It is intended for educational organization operators, teachers, and interested members of the market keen about understanding the new policies, programs, technological developments, and issues influencing the market.
The state of the market including drivers, obstacles, and further opportunities are discussed in the report. The main findings and current state of the market determined with the help of Porter’s Five Forces Model. Their performance in the current operating environment is measured by collecting data from authentic sources. The main obstacles deterring the market growth including technological, institutional resistance, legal, normative, and economic limits are discussed in the report.
Based on type segment, the market is classified into distance education institution and early childhood education school. The early childhood education school is witnessing greater growth in the market as it is offering immense benefits to the children such as immersing social skills, confidence building, coordination skills, creativity and more in the children making. This is making the children more competent which is increasing the demands for early childhood education school globally. The segment may see more growth in the forthcoming years 2021-2028.
Based on application segment, the market is classified into 5-8 years, 3-5 years, and <3 years. The 3-5 years segment gathered the largest share in the market as educational organizations are providing beneficial, innovative solutions, and teaching & learning methods which are further boosting child’s overall development. As a result, by the end of the forecast period the segment might see huge growth contributing to the growth of global early childhood education market.
North America secured the topmost position in terms of shareholding in the global early childhood education market in 201 and is likely to dominate the forecasted 2021-2028. The factors such as increased awareness, government encouragement, multiple benefits to child, high income population, and others have accelerated the market growth in this region. Moreover, the presence of prominent and child-friendly educational organizations is also contributing to the growth of market in this region.
Besides, APAC region also generated more revenue in the market due to factors such as good educational sources available in the region. Moreover, the MEA and South American nations recorded moderate CAGR due to lack of child education awareness and absence of proper policies and programs.
The key players in the preschool industry or the early childhood education market are Tadpoles, Cake Child Care, Kindertales, Ambow Education Holding, Scoyo, Famly, Blossom Educational, New Oriental Education & Technology, and USDA among others.
Key Segments of the Global Early Childhood Education Market
Type Overview, 2021-2028 (USD Billion)
- Distance Education
- Early Childhood Education School
Application Overview, 2021-2028 (USD Billion)
- 5-8 years
- 3-5 years
- Below 3 years
Regional Overview, 2021-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
- Rest of South America
Middle East and Africa