Early childhood education refers to the education received by children from infancy to the pre-primary stage. Scientific research shows that the best period to develop the potential of the brain is 0-6 years old. Early childhood is a critical period for the development of intelligence in life. With the progress and development of society, people pay more and more attention to the quality of human production, so the demand for early childhood education will continue to grow.
Early childhood education includes full-time preschools and on-demand preschools. Full-time preschools refer to a form of studying in preschool all day, or engaged in most of the time. On-demand preschools refer to deciding whether to study according to personal needs, such as online preschool education. As a traditional education method, full-time preschools still occupy most of the market share, and its market value in 2020 has reached $320,299 million. However, with the development of network technology and the times, people are increasingly pursuing diverse and convenient learning methods. The market share of on-demand kindergartens will increase year by year. It is estimated that by 2026, its market value will increase from $76,155 million in 2020 to $149041 million, the compound annual growth rate will reach 11.84%. In the early education market, children between the ages of 0 and 3 are too young to accept a lot of knowledge, so children between the ages of 3 and 6 occupy an important market share. In 2020, the market value of early education for children aged 3 to 6 is $261,947 million.
Global Early Childhood Education Industry Market Status and Prospect Analysis
According to research, the total market revenue of the global early education industry in 2015 was $315,242 million, and rise to $396,453 million in 2020. It is estimated that by 2026, the revenue of the global early education industry market will increase to $606,149 million. North America, Europe and the Asia Pacific are the three largest markets in the industry, occupying 14.45%, 36.66% and 46.39% of the market respectively in 2020.
Asia Pacific is the largest revenue market for the early education industry, and its market value has reached $183,915 million in 2020. India and China are populous countries with more than 200 million children under the age of five. In 2015, China established a modern education system serving lifelong learning for all, and popularized high-quality preschool education. The policy focuses on rural areas to increases the preschool education penetration rate, establish a more complete preschool education management system and investment system, vigorously develop public kindergartens, and accelerate the development of private kindergartens. With the increase of the population, especially the promotion of three-child policy in China, the number of newborns will increase, which ushered in a golden period of development for the market. In addition, the improvement of living standards and the increase in per capita income have also made parents more willing to invest more energy and financial resources in early education for their children. It is estimated that by 2026, its market value will increase to $299,603 million.
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The market value of Europe in 2020 is $145,356 million, ranking second in the world. The developed economy, advanced education system and advanced preschool education awareness have given the early education industry a broad space for development in the European market. The EU continues to formulate and promulgate relevant policies to provide policy support for the reform of preschool education in various countries. Many governments have spent a lot of money in early childhood education and attach great importance to early childhood education. Besides, mixed-age education is appearing in early childhood education, especially in Germany and France. These factors greatly promoted the development of the European early education market. It is estimated that by 2026, the market value of early childhood education in Europe will reach $206,808 million.
Opportunities and Challenges in the Global Early Childhood Education Market
As countries around the world have deepened their understanding of preschool education, many countries in the world have incorporated early childhood education into the entire national education system as the starting point of lifelong education for their citizens. With the growth of the world economy and the steady increase in the proportion of government investment in education, the fiscal support of government for early childhood education has also increased significantly. At the same time, some projects on early childhood education are developing towards diversification. Early childhood education pays more and more attention to the personalized and comprehensive development of children, which promotes the continuous expansion of the market.
Affected by the COVID-19 epidemic, early childhood education institutions, kindergartens, and preschools have been ordered to close for a period of time. The operation and demand of many private and public kindergartens have also been greatly affected, but the epidemic have also provided development opportunities for some new economic models, and even spawned new formats, such as the emergence of online education. In addition, the epidemic has affected the cash flow of small and medium-sized preschool education institutions in the industry, affecting the operating conditions. Therefore, the market share of small and medium-sized early childhood education institutions will be further reduced. In the early education market, high-quality and low-cost early childhood education is still lacking, and the quality of teachers and education in the preschool education industry needs to be improved.
At present, Internet online education has become a new trend in global education development, occupying an important position. The combination of Internet technology in the global preschool education industry and mobile early education games has further promoted the diversified development of the early education market. Moreover, the field of Internet preschool education does not take video learning as the main content, but adopts entertaining games, nursery rhymes, animation and other methods to stimulate interest in learning and let children learn in entertainment.
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