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”.
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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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