The US virtual schools market is anticipated to grow at a considerable CAGR of 4.6% during the forecast period (2022-2028). The virtual school, also known as an e-school or cyber school is a teaching of students through an online platform using internet services and devices, including laptops, mobiles, tablets, and others. The major factor attributing to the growth of the US virtual school market includes the increasing accessibility of internet services to the population of the US. According to the World Bank Data, around 89.43% of the total population of the US had access to internet services in 2019. Thus, increasing the admission to virtual schools.
Another factor contributing to the growth of the US virtual schools market includes the increasing awareness of education resulting in increasing literacy rates in the US. According to the US Department of Education Data Point’s report on adult literacy in the US, the average literacy rate of adults aged more than 15 years in the US is around 88%. Furthermore, the admission of people to virtual schools is also increasing due to several benefits provided by virtual schools. The benefits include increased inclusivity, improvement in accessibility, saving the cost of education, building relationships, and community, improvement in students’ technical skills, immediate feedback on learning, improvement in flexibility and comfort, and others. The other benefits include customized learning and a wide selection of programs. Thus, propelling the growth of the US virtual schools market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, Marian University partnered with a for-profit education company- Strides Inc. to launch K-12 preparatory school to offer a hybrid learning model combining virtual and in-person classes. The new school will offer two programs “MU Prep” and “MU Prep Plus”. MU Prep will provide all-virtual instruction with a learning coach and MU Prep Plus will provide a full-time hybrid learning experience.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By End-Use
- Competitive Landscape- Laurel Springs School, Strides Inc., Florida Virtual School, Oak Meadow School, and Inspire Nola Charter Schools, among others.
A full report is available at: https://orionmarketreports.com/the-us-virtual-schools-market/107393/
The US Virtual Schools Market Report by Segment
By Type
- For-Profit EMO
- Non-Profit EMO
By End-Use
- Elementary School
- Middle School
- High School
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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