The early childhood education market is valued at $446 million in the 2012-2013 school year.
Stamford, CT (PRWEB) November 05, 2013
While the market for PreK instructional materials is relatively small, its growth prospects outshine those of most segments of the K-12 market. The early childhood education market is valued at $446 million in the 2012-2013 school year, according to “Market Opportunities for PreK Instructional Materials 2013-2014,” a new education market report from Simba Information. For this report, Simba and MCH Strategic Data teamed-up to conduct an online and telephone survey of Head Start locations, school-based PreK and early childhood programs, and independent childcare centers.
A number of drivers are pushing instructional materials purchases in PreK classrooms. They range from a growing body of studies about the value of preschool to educational achievement and its overall economic benefit to the U.S. at large, which has become widely, although not universally, accepted, to the fact that PreK standards are becoming more rigorous and are being aligned with state and Common Core K-12 standards, requiring more focus on core curriculum at the younger age groups.
Additionally, enrollment in the PreK segment is growing, due in large part to public and political support. This is particularly true in the state-funded segment of the market which has grown significantly over the last decade and continues to do so with state-by-state differences.
Similar to other segments of the educational landscape, budget concerns influence the PreK market. However, the current focus on PreK as an important and undeveloped education sector — one that plays a key role in the overall educational achievement over the long term — means that a solid portion of PreK programs are able to find funding to support instructional materials purchases.
The PreK education segment also presents some challenges for vendors. In this highly fragmented market much of the purchasing occurs at the local level, where each location is unique, adhering to different standards, serving diverse populations, being supported by a combination of funding sources and offering varying levels of academic rigor. This individualization comes with a broad spectrum of needs in terms of instructional materials. In spite of the challenges, nearly all vendors, educators, and other professionals working in the PreK market believe that the prospects for instructional materials—especially core curriculum, assessments, and digital technology—are likely to grow in the coming years with a long lifeline.
Additional information on the report can be found at http://www.simbainformation.com/Opportunities-PreK-Ed-7471537/ or by calling 888-29-SIMBA.
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