India Preschool Market: Opportunities, Size and Growth Projections in Upcoming Years
Increase for the preference of the nuclear families and rising disposable income are driving factors for the growth of the preschool market in India through next five years.
According to TechSci Research report, “India Preschool
Market By Age
Group (Less Than 2 Years, 2-4 Years, 4-6 years), By Location (Standalone,
School Premises and Office Premises), Competition Forecast & Opportunities,
FY2016 – FY2026”, India
preschool market was
valued USD 2.93 Billion in FY2020 and is forecast to grow at CAGR of 8.04%
until the next five years. Increasing concern for the betterment of
their wards and rising awareness among the Indian parents for early childhood
education to ensure smooth physical, mental and emotional transition in
children to cope up with the hurdles of the outer world is further expected to
boost the growth of the India preschool market.
The education system in India has witnessed a remarkable growth in the last few years. India is ahead of other developing countries in the field of education and training. The number of institutes offering education is far more in India when compared to China. Moreover, several foreign institutions are also foraying into India. This is expected to boost the quality of education in the country.
The primary education segment provides a
great opportunity as around 27% of India’s population was between the age group
of 0 to 14 in 2019. The country’s literacy rate was around 74% in 2018 compared
to world’s average of around 86%. In 2016, the education market was worth about
USD100 billion and is expected to reach USD180 billion in 2020.
Browse
22 market Figures and 25 market Tables spread through 129 Pages and an
in-depth TOC on "India
Preschool Market”.
https://www.techsciresearch.com/report/india-preschool-market/7238.html
Rapid urbanization and adoption of western
culture have brought a significant change in lifestyle patterns of the younger
generation. They are highly active on digital media. India’s burgeoning young
working class population base is the largest and the youngest. Incomes in rural
and urban economy of the nation are growing which would result in increase in
purchasing power of the end consumers, thereby enabling them to spend more on
quality preliminary and secondary education. Hence, this economic growth is
expected to drive the market during the forecast period.
Based on the location, standalone segment
led the market with share of 65.25% in FY2020. The demand for the day-cares
within the school premises is also in higher demand and is expected to grow at
a faster rate in the coming years. Zee
Learn Limited, S.K. Educations Pvt. Ltd., Shemrock Group of Preschools, Hello
Kids Education India Pvt. Ltd, Educomp Solutions Ltd, Eurokids International
Private Limited, and
others are some of the leading players operating in India preschool market.
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“North India is the highest revenue generator
in India preschool market and the region’s share in India preschool market is
anticipated to increase during the forecast period as well. Growth in demand
for preschools in North India can be majorly attributed to increasing working
parents, rise in working women, growing trend of nuclear families, rising
awareness about brands, international study trends and expansion of various
international preschool chains even in small cities. Additionally, parents in
North India have increased expenditure on education and middle-class income
group families are also opting private preschools instead of public preschools
(Aaganwadi) for their kids.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India Preschool Market by Age Group (Less Than 2 Years, 2-4 Years, 4-6 years), By Location (Standalone, School Premises and Office Premises), Competition Forecast & Opportunities, FY2016 – FY2026” has evaluated the future growth potential of India Preschool market and provides statistics and information on market structure, size and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in India Preschool market.
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