APAC Education Construction Market Size, Share & Trends Analysis Report 2020-2027
The APAC Education Construction Market was valued at USD 153.32 Billion in 2019, Growing at a CAGR of 6.2% Between 2020 to 2027. The growth can be attributed to the growing investment by governments in developing modern Schools, Colleges, and Universities. The demand for technologically advanced smart classrooms with facilities such as projector, computers, WiFi connectivity, etc. is growing steadily for the last 7 years in the Asia Pacific region.
The APAC region has the largest number of aging education infrastructure that needs renovation, up-gradation, or replacement. Economic stability is highly important for market growth, Therefore, countries need to recover the COVID-19 impact on the economy in order to boost the education sector.
However, aging school buildings across the country need to be upgraded or replaced, leading to pressure for growth in education construction. The expectations for the education market in the near-term, therefore, are mixed, with greater financial stability in the economy eventually resulting in growth, but that growth will be tempered by lingering impacts from the economic downturn.
The Indian education sector has attracted investors for a long time, the Indian government has highly supportive policies for private educational institutes. The government has allowed 100% foreign direct investment in the education sector since 2002.
India is the second-largest e-learning market after the United States, The growing smartphone penetration in India is positively supporting the e-learning market growth in India. In August 2019, The Government of Maharastra signed a collaboration with Google Inc. for boosting online education in the state. Indian e-learning applications such as BYJU, Vedantu attracted huge investments considering their exponential growth in the Indian e-learning market. Indian institutes are leveraging on the installation of e-learning infrastructure to improve the quality of education.
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