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Virtual schools are modern way of providing education through online platform. The school uses internet and provides education at home. The mode of education offers physical interaction between students and teachers. Further, it eliminates more than one technologies to deliver education. The online mode of education is used in school or college level or old students who wants to study online programs and others. The platform is considered as next level of education. The market growth is attributed to the huge adoption of digital transformation. Revolution in telecom and broadband sector is anticipated to drive market growth is anticipated to fuel market growth. Rise in economical internet and better connection plans is estimated to boost market growth is anticipated to drive market growth. Rise in investments for development in technologies. The opportunities in the market are characterized by utilization of technology and several advantages such as effective, quick, budget-friendly and modern way of learning. In addition, increased penetration of internet is anticipated to propel market growth in the coming years. Huge investments by several market players is estimated to inflate market growth. Ongoing R&D activities and growing need for innovative education solutions is anticipated to surge market progress.
As per Business Research Insights, the market size of virtual schools was 3957.3 million in 2021, the market is projected to touch USD 8992.4 million by 2028, exhibiting a CAGR of 12.4% during the forecast period.
COVID-19 Outlook: Closure of Schools and Colleges to Harm Market Growth
The sudden spread of COVID-19 brought a positive change in the market. Closure of schools, colleges due to lockdown restrictions boost online education platform. Huge adoption of online platform of education helped to follow regulations without impacting educations. Growing awareness about the benefits of advanced online education boosted virtual schools demand. Rise in need for several types of education and governments regulations to fuel market growth during the pandemic period.
Below is the list of the top 5 market players who are also recorded as pioneers in their respective fields:
Stride Inc.
The leading company of virtual education having a mission to help learners at all age. The education materials and professional teachers helps to educate students in better way. The vison of the company is to learn passionately and provide end to end education.
Connections Academy
The company is a tuition free fully accredited public education program. The company’s program provides a quality curriculum and exceptional state certified. The company was founded in 2001. The specialties of the company are cyber school, virtual school, and public school.
Pansophic Learning
The leading company of school management company. The mission of the company is to bring quality education to everywhere in the world. The company has experience over years and excel at global education.
Florida Virtual School
Founded in 1997 situated in United States. The company offers independent educational entity. The company is first statewide internet-based public high school. The mission of the company is to offer online courses and full-time enrollment options.
Charter School
The charter school is a school which receives government funding but operates independently. The school is established in Australia, Bulgaria, Canada, Denmark, Chile, England and Wales, Finland, Germany, Netherlands, Ireland, Hong Kong, and New Zealand.
Developments in Infrastructure for Online Education to Boost Market Growth
The developments in infrastructure for online education is anticipated to boost market growth. Rapid developments of new technologies such as 4G and 5G technology is predicted to fuel market progress. Huge demand for online education and easy availability and flexible nature of the online platform is anticipated to boost market growth. Rise in penetration of internet is anticipated to propel market growth in the coming years.