According to the latest report by IMARC Group, titled “India School Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India school market reached a value of US$ 43.5 Billion in 2022. A school refers to an educational institution designed to provide a learning environment to children and prepare them for future career paths. It consists of students, teachers, and assigned administrators to oversee facilities and staff management. School provides children with knowledge related to various fields, such as literature, history, mathematics, science, culture, and politics. It teaches social skills, aids in confidence building, encourages critical thinking, provides opportunities, and builds communities. School also assists in developing talent and promoting the hobbies and interests of students through various extra-curricular activities, such as sports, painting, singing, and acting.
India School Market Trends:
The growing awareness regarding the importance of education in India is creating a positive outlook for the market. In line with this, the increasing youth population and the shifting inclination toward developing a pool of skilled human resources are favoring the market growth. Furthermore, rising initiatives by the Government of India (GOI), such as the New Education Policy (NEP) that aims to make schooling available to everyone, promote new admissions, and reform existing education structures for the holistic development of children, are providing a considerable boost to the market growth. Moreover, the implementation of various initiatives to promote girl child education by establishing new schools and girl hostels through ‘Beti Bachao Beti Padhao Abhiyan’ and ‘Kasturba Gandhi Balika Vidyalaya (KGBV)’ and bridge the gender and social gaps at all levels of school education, is positively influencing the market growth. Additionally, the integration of artificial intelligence (AI) and the Internet of Things (IoT) in schools to automate personalized adaptive learning, increase language affinity learning ability, and improve learning pace is providing an impetus to the market growth. Other factors, including increasing literacy rate, rising investments by private organizations, and widespread adoption of technologically advanced teaching methods, such as smart classes and digital libraries, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 87.3 Billion by 2028, exhibiting a CAGR of 12.1% during 2023-2028.
- On the basis of the level of education, the market has been divided into primary, upper primary, secondary, and higher secondary. At present, the primary level of education represents the largest segment in the market.
- Based on the ownership, the market has been categorized into government (primary, upper primary, secondary, and higher secondary), local body (primary, upper primary, secondary, and higher secondary), private aided (primary, upper primary, secondary, and higher secondary), and private unaided (primary, upper primary, secondary, and higher secondary). Amongst these, government-owned schools account for the majority of the total market share.
- On the basis of the board of affiliation, the market has been classified into central board of secondary education (CBSE), council for the Indian school certificate examinations (ICSE), state government boards, and others (NIOS, IBs, etc.). At present, schools operating under the state government boards dominates the market
- Based on the fee structure, the market has been divided into low-, medium-, and high-income. The low-income segment holds the largest market share in the market.
- On a regional basis, the market has been categorized into North, East, West and Central, and South India. Amongst these, North India enjoys the leading position in the market.
- The competitive landscape of the industry has also been examined along with the profiles of some key players.
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