The k-12 laboratory kits market in the US was valued at almost $4 billion in 2015 and is expected to reach almost $7 billion by 2020, says Technavio.
Technavio has announced its latest market research report on k-12 laboratory kits to its education technology portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the k-12 laboratory kits market in the US during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Carolina Biological Supply, eScience Labs, LAB-AIDS, and Quality Science Labs.
“Experimental and inquiry-based learning is becoming increasingly popular in the global education market. There has been a noticeable rise in the preference for experiential learning which uses laboratories to operationalize theoretical concepts. Laboratories are increasingly being used as a possible medium to address the drawbacks associated with the traditional educational system. Experiential learning involves real-life problem solving, replication of authentic situations and contexts, and offers learner-controlled activities, which help enhance the learners’ cognitive skills,” says Jhansi Mary, a lead analyst at Technavio for education technology.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Inception of laboratory schools
Laboratory schools are institutes that are affiliated with a college or a university. Even though laboratory schools follow the same curriculum as traditional schools, the teaching methods vary. Laboratory schools are established for preschool, kindergarten, and K-12 schools. These schools run various academic teams, activities, and clubs that are managed by students. They also function as a platform that encourage students to devote more time in learning practical aspects of subjects through the adoption of innovative learning methodologies. For example, laboratory schools operated by the University of Chicago have learning coordinators, academic specialists, and counselors apart from teachers to support students during the process of learning.
Emphasis on STEM education
STEM education is increasingly popular in the US owing to initiatives taken by the Department of Education in 2010. Through their campaigns, the country aims to encourage students to opt for education in this field. Various public-private partnerships between foundations, government agencies, companies, non-profit organizations, and universities have also been announced for the success of the campaign. For instance, partnership programs such as Intel‘s Math and Science Education for teachers; UTeach Program, a National Math and Science Initiative; Summer of Innovation enrichment program by NASA; and The PBS Innovative Educators Challenge have been initiated. In 2015, the Obama administration announced fresh investments of $240 million channeled toward improving STEM education.
Replacement of old devices
Prompted by advances in learning and teaching methods, many schools in the US are replacing old devices with technologically advanced alternatives. Schools are adopting new projects and experiment ideas to enhance student knowledge to keep pace with the expansion of course curriculum in subjects such as anatomy and physical science. This calls for the need to procure and replace old and outdated devices for the purpose of experimentation. Vendors in the market are leveraging the opportunity to gain market shares by offering new products and services.
Some of the other prominent vendors identified in this report are Thames & Kosmos, POOF-Slinky, SmartLab Toys, and ScienceWiz.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘K-12 Lab Kits Market in the US 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Virtual and Remote Laboratories Market in the US 2016-2020
- Global Laboratory and Handheld Raman Instruments Market 2016-2020
- Higher Education Learning Analytics Market in the US 2016-2020
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