London, United Kingdom (PRWEB) May 09, 2013
The Primary Education industry provides educational services to over four million students across the United Kingdom. The majority of primary schools are publicly funded and do not charge tuition. However, the industry also includes privately funded independent schools and a growing number of centrally funded academies and free schools. Primary school services are largely state provided; 95% of primary school pupils attend maintained schools run by local authorities or academies and free schools. Independent schools enroll the remaining 150,000 pupils. Over the five years through 2013-14, industry revenue is estimated to increase at a compound annual rate of 1.5%.
According to IBISWorld industry analyst Temitope Onabanjo, “primary schools have largely been spared from the spending cuts announced by the government in late 2010, but there are changes ahead for the industry, including the introduction of a pupil premium, aimed at reducing the achievement gap between students from wealthy households and those from less well-off backgrounds”. The government has also converted a number of publicly funded primary schools into academies. It hopes to raise education standards by granting schools the authority to set their own curricula and manage their affairs largely independently of local authorities. Industry revenue is forecast to grow by 2.0% in 2013-14, to £29 billion, thanks to strong demand for primary school places. Despite the recession, demand for private education has been remarkably resilient. Although enrolments dropped slightly from 2008 through 2011, tuition fee income at such schools continues to rise.
Onabanjo adds, “over the coming five years, an expected rise in the number of children of primary school age will increase demand for primary schools and encourage either the expansion of existing school capacity or the establishment of new schools”. Recent proposals to increase class sizes suggest that the former is more likely. However, the increasing demand for free schools and better education may prompt an rise in enterprises or result in more maintained schools being converted into academies. Proposals by the current government to extend school days and shorten holidays may also have an effect on employee numbers and wages. Revenue is forecast to continue to grow over the five years through 2018-19.
The Primary Education industry has a low level of market share concentration, with no single player accounting for more than 1.0% of revenue. Primary schools are designed to serve local communities by providing education for all children aged between four and eleven. There are over 21,000 primary schools spread across the United Kingdom, in a similar pattern to that of population distribution.
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IBISWorld industry Report Key Topics
Operators in the industry provide education and academic courses for children aged between 4 and 11. Primary schools cover the foundation stage, and Key Stages one and two which provide students with an elementary understanding of core subjects. Most primary schools are publicly funded and do not charge tuition, but the industry does include privately funded independent schools.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalisation & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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