The global in-person learning market is estimated to be valued at $38,220.5 million by 2028, surging from $18,009.1 million in 2020, at a noteworthy CAGR of 10.3%.
Global In-person Learning Market Analysis
In recent years, the number of students preparing for competitive exams and higher studies has increased significantly. Furthermore, the growing importance of education has led to an increase in spending on tuition and quality education. Moreover, working professionals are spending short-term courses to enhance their skills and knowledge. In addition, the governments in developing countries are spending on improving infrastructure. Such factors are expected to drive the global in-person learning market.
Growing popularity of online learning is expected to hinder the growth of global in-person learning market in the coming years. During COVID-19 pandemic, many schools, colleges, and universities adopted online learning to avoid contacting the virus. Moreover, studies suggest that most students prefer online learning as they get free time for physical activities. Increasing penetration of online learning will hamper the growth of market in the coming years.
Parents play an important role in shaping their children's future. As a result, parents are encouraging their children to participate in various activities. Furthermore, parents in developed countries encourage their children to participate in sports and physical activities to enhance their health and physique. For instance, according to a TD Ameritrade survey of parents aged 30-60, with assets over $25,000 who have children playing youth sports or who have done so in the past, more than 20%of the U.S. families spend more than $12,000 per year on youth sports. Growing spending on children's education, arts, and sports activities will provide growth opportunities for the global in-person learning market.
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Global In-person Learning Market, Segmentation
The global in-person learning market is segmented based on course type, application, end-user, and region.
The course type segment is further classified into academics, arts, sports, and other courses. Among these, the academics in-person learning sub-segment is anticipated to have the fastest growth as well as dominant share and surpass $25,323.0 million by 2028, with an increase from $11,626.3 million in 2020. The growing government expenditure on education is the main factor driving the market for academic in-person learning market. Furthermore, to pursue higher education in reputed schools, colleges, and universities, most parents encourage their children to opt for private tuition. Growing expenditure on children's quality education will provide growth opportunities for the academic in-person learning market in the coming years.
The application segment is further divided into cram school and at-home teaching. Among these, cram school segment was the highest contributor to the market, with $14,308.1 million in 2020, and is estimated to reach $30,797.0 million by 2028, at a CAGR of 10.5% during the forecast period. In recent years, expenditure on children’s education has significantly increased. Furthermore, government expenditure on infrastructure and quality education is steadily growing in countries like China and India. Such factors are expected to drive the global cram school in-person learning market.
The end-user segment is further divided into pre-school children, middle school students, high school students, and college students. Among these, high school students’ sub-segment accounted for highest market share in 2020. The high school students sub-segment contributed $6,743.2 million in 2020, and is estimated to reach $13,865.8 million by 2028, at a CAGR of 9.8% during the forecast period. Families today spend a lot of time and money on their children's physical, social, emotional, and academic development. Moreover, parents focus on improving their children's cognitive capabilities. Growing expenditure on quality education will drive the market for high school students in the projected timeframe.
The in-person learning market in the Asia-Pacific region is projected to witness a dominant share. This market generated a revenue of $5,780.9 million in 2020 and is further projected to reach up to $12,880.3 million by 2028, with a CAGR of 11.0%. The massive infrastructure investments by China and India to provide quality education in rural parts of countries is the main factor driving the demand for the in-person learning market in the region. Furthermore, owing to the growing disposable income and importance of education, parents’ expenditure on children's education has significantly increased. Growing expenditure on education is projected to provide growth opportunities for the in-person learning market in the coming years.
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Impact Analysis of COVID-19 on the In-person Learning Market
The global market for in-person learning experienced low growth amid the COVID-19 pandemic. The government of most countries imposed lockdown across the country to stop the virus from spreading to the masses. As a result, schools, colleges, and universities closed classrooms and started conducting classes through online channels. Besides, the transport facility was also affected due to government regulation. Furthermore, during the COVID-19 pandemic, the government banned people from gathering in public places, impacting the market growth of the in-person learning market. Moreover, people were taking precautionary measures to avoid contracting the virus. As a result, people shifted toward the online channel.
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Key Players in the Global In-Person Learning Market
Some of the leading in-person learning market players are
- Sylvan Learning, LLC
- Wyzant, Inc.
- Kaplan, Inc.
- British Study Centers
- Triumphant Institute of Management Education Pvt. Ltd
- Vibrant Academy
- All A's Tuition
- ITS Education Asia.
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
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