The Education Buildings by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Education Buildings, The education buildings market size has grown steadily in recent years. It will grow from $611.03 billion in 2023 to $628.81 billion in 2024 at a compound annual growth rate (CAGR) of 2.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in number of private colleges and universities, increase in renovation activities and rise in construction activities.
The education buildings market size is expected to see steady growth in the next few years. It will grow to $711.72 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to rising number of schools, increasing government support, globalization of education, global population growth and urbanization. Major trends in the forecast period include prioritizing environmentally conscious construction by incorporating energy-efficient designs, renewable energy sources and eco-friendly materials, incorporating modular construction methods, investing in state-of-the-art infrastructure to support technology-enhanced learning experiences and increasing investments.
The increasing number of schools is expected to propel the growth of the educational buildings market going forward. The school refers to a type of educational facility created to offer classrooms and other learning settings and materials for educating students. Schools demand educational buildings for establishing classrooms, laboratories, equipment, and other educational infrastructure. Hence, the increasing number of schools will increase the demand for educational buildings. For instance, In the United States, there are approximately 84,000 public schools spread across nearly 100,000 individual buildings. It is anticipated that the total student enrollment in these schools will reach 56.8 million by the year 2026. Therefore, the increasing number of schools is driving the growth of the educational buildings market going forward.
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The education buildings market covered in this report is segmented –
1) By Type: New Construction, Repair And Maintenance, Refurbishment, Demolition
2) By Application: Schools, Institutions
3) By End-User: Private, Public
The adoption of robotics in construction is a key trend gaining popularity in the education buildings market. Robotics refers to a branch of science that involves designing, manufacturing, and use of robots to perform various simple and difficult tasks done by humans traditionally. Robotics in the construction industry is used to increase work efficiency reduce labor work and environmental impact and build educational buildings fast. For instance, in March 2022, Rugged Robotics, a US-based developer of construction technology, raised $9.4 million in funding to automate construction layouts. The company offers a ‘Rugged Robotics Mark I’ robot that can mark engineering designs onto concrete floors directly and is available for commercial use. This robot enables the workers to know where to start construction.
The education buildings market report table of contents includes:
- Executive Summary
- Education Buildings Market Characteristics
- Education Buildings Market Trends And Strategies
- Education Buildings Market – Macro Economic Scenario
- Global Education Buildings Market Size and Growth
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- Global Education Buildings Market Competitive Benchmarking
- Global Education Buildings Market Competitive Dashboard
- Key Mergers And Acquisitions In Education Buildings Market
- Education Buildings Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Skanska AB
- Hochtief AG
- Balfour Beatty PLC
- DPR Construction
- AECOM Technology
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