Virtual Schools Market Size
The market size of global virtual schools was assessed at $11 billion in 2022 and is projected to reach $20 billion by the conclusion of 2030, exhibiting a compound annual growth rate (CAGR) of approximately 5.7% during the period from 2023 to 2030.
Virtual Schools Market: Overview
The virtual schools market is a comprehensive analysis of the current state and future prospects of virtual schools.
It provides a detailed overview of the market, including its growth potential, key trends, and challenges. The report also includes an analysis
The virtual school, also known as an e-school or online school, offers a comprehensive, progressive curriculum that incorporates synchronous and asynchronous instruction using innovative technologies and the internet.
Within the virtual school setting, students engage in communication with both their instructor and their peers.
The predominant mode of education online is primarily facilitated by educational institutions such as schools, colleges, and universities.
The preferred choice for students preparing for competitive exams is often virtual school lectures.
The course module is delivered through various mediums such as printed materials, DVDs, E-mails, video conferencing, and web conferencing, as per the educational program.
The virtual learning mode facilitates the acquisition of transferable credits, enables the scheduling of exams, and facilitates progression to the subsequent level via web-based platforms.
In addition to this, virtual school offers a plethora of advantages, including active student engagement in virtual classes and the flexibility to learn at one’s own convenience and pace.
Moreover, virtual schools exhibit cost-effectiveness, time efficiency, and a strong emphasis on achieving successful outcomes through online educational methods.
Key Insights
- According to the analysis provided by our research analyst, the global virtual schools market is expected to experience a compound annual growth rate of approximately 5.7% during the forecast period (2023-2030).
- The global virtual schools market size was assessed at approximately $11 billion in 2022, with projections indicating a potential growth to $20 billion by 2030 in terms of revenue.
- The rapid growth of the global virtual schools market is expected due to the significant expansion of communication systems, which has facilitated the development of e-learning applications in the education sector. This has resulted in increased adoption of online education.
- The for-profit EMO segment is projected to exhibit the highest compound annual growth rate (CAGR) during the analysis period, in terms of type.
- The high schools segment is projected to exhibit dominance in the application segment throughout the forecast period.
- In terms of regions, the European market for virtual schools is expected to exhibit the highest compound annual growth rate (CAGR) throughout the assessment period.
Factors Driving the Growth of the Virtual Schools Market
The global market surge by 2030 is expected to be driven by the increasing demand for virtual classroom-based education.
The significant advancement of communication systems has facilitated the development of e-learning applications in the education sector, thereby promoting the adoption of online education.
This, in turn, will catalyze the expansion of the global virtual school market. The global market trends will be driven by a massive demand for virtual education and a significant need for flexibility in education from students.
The global market space will be driven by the launch of a 5G network facility that offers seamless internet connectivity to end-users.
Given the increasing preference for online learning among a significant portion of students, coupled with the growing utilization of smartphones, it is expected that the virtual school market will experience significant growth in the coming years.
The global market is expected to experience growth due to a decrease in web hosting expenses, an increase in web accessibility, and a growing need for online educational materials.
The global market will experience significant expansion in the coming years, driven by the launch of innovative online education tools.
In the final quarter of 2021, Florida Virtual School unveiled the FlexPoint Education cloud tool, which offers online education to both kindergarten students and district schools outside of Florida up to 12th grade.
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Virtual Schools Market: Competitive Space
The global virtual schools market profiles key players such as:
- K12 Inc.
- Pansophic Learning
- Mosaica Education
- Beijing Changping School
- Inspire Charter Schools
- Abbotsford Virtual Schools
- Basehor-Linwood Virtual School
- Aurora College
- Alaska Virtual Schools
- Lincoln Learning Solutions
- Florida Virtual School (FLVS)
- Virtual High School (VHS)
- Illinois Virtual School (IVS)
- Charter Schools USA
- Acklam Grange
- Wey Education Schools Trust
- N High School
- Connections Academy
Restraints in the Virtual Schools Market
The global industry expansion may be hindered by the rise in eye disorders and obesity caused by excessive screen time among students.
The increasing screen time among students has been found to have potential implications for obesity and eye-related issues.
This can potentially serve as a pivotal factor that may impede the progress of the global virtual schools sector. T
he limited practical application of the subject may hinder the recruitment of students pursuing online degrees, thus potentially impeding the industry’s global growth prospects.
Opportunities in the Virtual Schools Market
The advent of ML and AI technologies is expected to drive global market growth in the years ahead.
The global virtual schools market has witnessed new growth avenues due to the convenient availability of cost-effective digital technologies.
The advent of AI and machine learning, along with AR and VR technologies, is expected to drive market growth worldwide. Online modes of education enable students to obtain degrees from prestigious institutes worldwide, thereby contributing to the development of the market.
Challenges in the Virtual Schools Market
The escalating health concerns among students resulting from continuous laptop usage present a significant obstacle to the global industry’s advancement.
The escalating prevalence of health concerns among students resulting from prolonged interaction with laptops, smartphones, and tablet screens presents a significant obstacle to the global industry’s growth.
In addition to this, the sedentary and inactive lifestyle resulting from continuous exposure to laptop screens, combined with limited face-to-face interaction with teachers, can have a detrimental effect on students’ creativity. This presents a significant challenge to the demand of the global industry.
FREQUENTLY ASKED QUESTIONS
- What is a virtual school?
- Which key factors will influence global virtual schools market growth over 2023-2030?
- What will be the value of the global virtual schools industry during 2023-2030?
- What will be the CAGR value of the global virtual schools market during 2023-2030?
- Which region will record the highest rate of growth in the virtual schools industry globally?
- Which are the major players leveraging the global virtual schools market growth?
- What can be expected from the global virtual schools market report?
