Workforce development, Career and Technical Education (CTE), teacher training and early literacy programs take center stage as K-12 education continues to be transformed
ROCKVILLE, Md., Sept. 19, 2024 /PRNewswire/ — A set of economic, demographic, social, and industry forces are making less traditional forms of education new priorities for states and school districts, and some educational publishers and edtech companies are responding by revising their texts and digital teaching products.
According to Publishing for the Prek-12 Market, 2024-2025, a just released report by Simba Information, the leading provider of market information on the educational instructional materials market, several developments are driving these trends. These include actions taken by states to prioritize programs that prepare students for the job market, and other initiatives to recruit, retain, train and fairly compensate educators to address teacher shortages and improve the quality of education. At the same time, there is a rise in homeschooling, virtual schools and charter schools, which reflect a growing preference for alternative educational pathways that are flexible and more personalized.
These changes are taking place against a backdrop of an education sector that is financially stable but remains vulnerable going forward. The good news is that enrollment numbers have stabilized and current funding for schools is secure. However, enrollment has still not recovered to its pre-pandemic levels, and although school finances are doing well, worries about the future remain, stemming from the end of the special pandemic (ESSER) funding, and a still uncertain future economy going into 2025.
As for the state of the instructional materials market itself, Simba has calculated that total sales reached $10.6 billion in calendar year 2023, up 3.83% over 2022; however, sales are forecast to slow in 2025. The report breaks down the size of that market by type of materials, such as basal curriculum, courseware, digital and other key segments. Simba reports that digital materials continue to grow vis a vis print, but at a slower rate than in the past
The report also examines how governments, school districts and publishers are responding to continuing problems with learning loss by providing more access to preschool and childcare services and giving extra attention to early literacy programs. Other trends identified by Simba include a rise in interest and new required courses on financial literacy, media literacy and civics, and how AI is playing a significant role in both teacher preparation and in the use of AI-enabled learning products. Also examines is the increased national attention on how a high quality and properly aligned curriculum, both core and supplemental, can play a significant role in stemming ongoing learning losses.
The report also provides an in-depth look at the forces impacting the K-12 instructional materials industry, exploring matters such as the increase in revenue among public companies, the decline in mergers and acquisitions, private equity investment, and the continuing reduction of publicly held firms.
Publishing for the Prek-12 Market, 2024-2025 also profiles the leading companies that make up this sector. Specific businesses whose products, strategies and financials are examined include: Boxlight; Cambium Learning; Cengage; Discovery Education; Goodheart-Wilcox; HMH, Kahoot!; McGraw-Hill; Pearson, PowerSchool; Renaissance Learning; Savvas Learning; Scholastic and Stride
About Simba Information
Simba Information, a part of The Freedonia Group, is widely recognized as the authoritative source for market intelligence in the media and publishing industries. The company’s extensive information network delivers thoughtful, objective perspectives on the people, events and alliances shaping the industry. In addition, Simba Information assists clients and the press with analysis of publishing and media industry trends.
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SOURCE Simba Information
