FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Dec 4, 2014
-- Philippines Education Industry Outlook to 2018 – Next Wave of Growth Driven by Test Preparation, Teacher Training and Vocational Training Segment” presents a comprehensive analysis of the industry covering aspects including market size in terms of revenues, enrollments, establishments and faculty-student ratio. The report also entails a detailed analysis of the market segmentation on the basis of K-12, higher education, technical and vocational training, test preparation, private tutoring, e-learning and teacher training and education by different categories on the basis of revenues, enrollments and establishments. The report provides the company profiles of the major players operating in the test preparation, technical-vocational training, teacher training and education, K-12, higher education and e-learning market in Philippines. The report also highlights the major trends and developments of all the segments in Philippines education industry over the years. Future analysis of the industry along with its various market segments is provided on the basis of revenues over the next five years.
Philippines education industry has showcased a significant growth in the past decade owing to the adoption of the enhanced basic education model. The financial support and aid from the foreign countries such as Australia, Canada, US and others have been aiding the Philippines government in restructuring the education system in the country. The several programs and initiatives have been taken by the Philippines government to improve the quality of education in the country. The increasing investments by the government and other local and foreign agencies for the provision of universal access to quality education at all levels to the Filipinos are likely to boost the total number of enrollments and establishments in the education industry in Philippines.
The K-12 education market has been the largest contributor to the overall revenues of the Philippines education industry. The revenues of K-12 education market were estimated to be worth USD ~ million in 2013, which grew from USD ~ million in 2008. The major growth driver in the K-12 education market was the implementation of the enhanced basic education program in Philippines. This market has been highly fragmented with the presence of large number of public and private players competing on the basis of tuition fees, infrastructure and other services. The major segments in the K-12 education market are namely kindergarten, primary and high school. Secondary level of education accounted for the majority share to the overall revenues of the K-12 education market.
The higher education market is the second largest contributor to the revenues of the Philippines education industry. The market share of the higher education market in Philippines declined to ~% in 2013. This declining market share was possibly due to the inclining tuition fees for the private and public higher education institutions. Some of the major players operating in this market are namely University of the Philippines, De La Salle University and others. This market is likely to grow at a CAGR of ~% in the next 5 years.
The technical-vocational training segment accounted for a share of ~% in 2008 which declined marginally to ~% in 2013. The major reason for this decline was the no or low fees charged by the public technical-vocational training institutions in Philippines. This market is expected to witness an increase in the revenues to USD ~ million over the period from 2013 to 2018.
The Philippines private tutoring market has contributed a share of ~% in 2008 which decreased slightly to ~% in 2013. The trend of homeschooling in Philippines can be attributed for the decline in the market share. The major players operating in the tutoring market are namely AHEAD tutorial and review center, MSA Academic Advancement Institute and others. It is expected that the private tutoring market in Philippines will grow at a CAGR of ~% during the period from 2013 to 2018.
The test preparation market has been the fifth largest market in the Philippines education industry. The market revenues for test preparation increased from USD ̴ million in 2008 to USD ~ million in 2013. The Philippines test preparation market has been dominated by the private players who compete with each other through review fees and other flexibility options in timings and scheduling classes. The significant players in the Philippines test preparation market for civil engineering review are namely Besaville Review Center, Padilla Review Center, Gillesania Review Center and others. The inclining personal disposable incomes, escalating competition have been some of the reasons for remarkable growth of this segment. This market is expected to grow at a CAGR of ~% over the period 2013-2018.
The least share has been contributed by the Philippines teacher training market in 2008. It is likely to grow gradually in the future years owing to the government initiatives and programs in this segment. The teacher education market has also been growing rapidly and is expected to maintain its growth momentum in the future years. The teacher education market has been segmented into bachelors and masters degree programs offered in the field of teacher education in Philippines.
The Philippines e-learning segment has been expanding rapidly and includes online-learning and training, software development and e-content development. This market is likely to grow at a remarkable rate in the future years.
The Philippines education industry is estimated to register escalating CAGR of ~% for the period from 2013 to 2018 with the private players established in the industry driving the enrollments in the education industry in the coming years.