Early Childhood Education Industry: How Leading Companies Respond to New Market Drivers

The early childhood education industry has been growing owing to the growing desires of parents to nurture and foster the overall well-being of their children and prepare for the competitiveness ahead in life. The increasing need for cognitive capabilities in the future is also putting pressure on parents to develop cognitive skills in kids from early childhood days. 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.

North America region emerged as the largest market for the global early childhood education market with a 39% share of the market revenue in 2021. The North American region currently dominates the early childhood education market due to the rising initiatives and investments by the government for the improvement of education infrastructure and also the increasing funds by the public sector for the development of the educational sector.

Leading companies in the industry include Tadpoles, Scoyo, Kindertales, New Oriental Education & Technology, Cake Child Care, Ambow Education Holding, Famly, Blossom Educational, USDA among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The product type segment is divided into distance education institutions and early childhood education schools. The early childhood education schools segment dominated the market with a market share of around 63% in 2021. The application segment is divided into 5-8 Age, 3-5 Age, and less than 3. In 2021, the 5-8 years segment dominated the market, accounting for around 43% of the global market share and market revenue of 106.6 billion. Early childhood education schools are in high demand because of the growing digitalization and virtual platforms for teaching the kids in innovative ways which can gain their attention and help them learn easily and effectively. The introduction of novel learning techniques in early childhood education schools results in successful admission of a large number of students in grade schools which helps in improving their self-reliance and mitigating the risk of mental, social, and emotional health issues. The 5-8 years of age is the most preferred for going to schools as they are capable of learning new things quickly and can stay away from the parents for a longer period.

The rising demand for pre-schools and childcare centers is due to the changing perspective of parents towards the education of children and for the overall growth of the children. People these days understand the importance of childhood education and want to give their children the best which can stay with them for the rest of their life. Early childhood schools not only help in education but also teaches the basics of life to children.

Source: https://www.thebrainyinsights.com/report/early-childhood-education-market-12703