NEWARK, NJ, Aug. 17, 2022 /PRNewswire/ — As per the report published by The Brainy Insights, the global early childhood education market is expected to grow from USD 248.0 billion in 2021 to USD 676.7 billion by 2030, at a CAGR of 11.8% during the forecast period 2022-2030.
The demand for early childhood education has grown fast in recent years and is expected to grow much more throughout the forecast period. This expansion can be attributed to the rising concern of parents to develop and evolve children’s learning and understanding skills. The market key players realized the capabilities of the kids from this generation and their ability to grasp all kinds of knowledge and develop scientific perspectives. This realization has encouraged them to redesign several courses and tools, propelling the market’s growth. However, the students’ varying economic standards are challenging the market’s growth.
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To enhance their market position in the global early childhood education industry, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
The growth of the early childhood education market is driven by the rising demand for preschools and childcare centers, as parents are focusing on the child’s overall development rather than just focusing on education. Parents are actively asking their kids to participate in co-curricular activities and grow in any field they wish to. Most brain growth happens during early childhood, so this age becomes the primary age for learning the basics of life. As parents are busy working, they prefer sending their kids to school to help them socialize, enhance self-reliance, and reduce the risk of mental and emotional health. In recent decades, studies have shown that early childhood education plays a crucial role in preparing children to succeed in higher education, minimizing the risk of social, emotional, and mental health problems, and increasing the self-sufficiency of children in their later lives. According to UNESCO, early childhood education educates children through daily activities and improves their physical, social, and cognitive development. The government recognizes early childhood education if they are based on review and research.
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- In 2021, the early childhood education schools dominated the market with the largest market share of 63% and market revenue of 156.2 billion.
The product type segment is divided into distance education institutions and early childhood education schools. In 2021, the early childhood education school type dominated the market with the largest market share of 63% and market revenue of 156.2 billion. Early childhood education schools have become an essential part of today’s schooling. Many more parents willingly send their kids to schools to help them socialize and grow innovative in their unique way. The rising concern of the parents for allowing their kids to grow mentally and physically fit is driving the segment’s growth.
- In 2021, the 5-8 years age category accounted for the largest share of the market, with 43% and market revenue of 106.6 billion.
The application segment is divided into 5-8 Age, 3-5 Age, and less than 3. In 2021, the 5-8 years segment accounted for the largest share of the market, with 43% and a market revenue of 106.6 billion. The 5-8 years age category is the best suited for any education, and most parents are ready to send children to school under this age. The kids of this age group readily adapt themselves to the new environment, and the family also feels safe in sending these kids to school.
Regional Segment Analysis of the Early Childhood Education Market
- North America (US, Canada, Mexico)
- Europe (Germany, FranceUK, Italy, SpainRest of Europe)
- Asia-Pacific (China, Japan, IndiaRest of APAC)
- South America (Brazil and Rest of South America)
- The Middle East and Africa (UAE, South AfricaRest of MEA)
Among all regions, the North American region emerged as the largest market for the global early childhood education market, with a market share of around 39% and 96.72 billion of the market revenue in 2021. The increasing funding in the education sector by the government, as well as increasing initiatives by the government for the development of education infrastructure and installments of virtual classrooms, are driving the market growth in this region.
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Key players operating in the Global Early Childhood Education Market are:
- New Oriental Education & Technology
- Cake Child Care
- Ambow Education Holding
- Blossom Educational
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. The Brainy Insights has segmented the global early childhood education market based on the below-mentioned segments:
Global Early Childhood Education Market by Product Type:
- Distance Education Institution
- Early Childhood Education School
Global Early Childhood Education Market by Application:
- 5-8 Age
- 3-5 Age
- Less than 3
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About the report:
The global Early Childhood Education market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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