January 11, 2021
According to the research report titled ‘Global Social and Emotional Learning (SEL) Market Size study, by Component (Solutions and Services), by Type (Web and Application), by End User (Pre-K, Elementary Schools, and Middle and High Schools) and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global social and emotional learning (SEL) market accounted for USD 1.3 billion in 2019 and is anticipated to witness a cumulative annual growth rate of 25% during 2020-2027.
Global social and emotional learning (SEL) market expansion is driven on the back of rising program awareness due to promotions through several channels including state agencies, in consort with surging computation trend in schools. Also, high expenditure on social and emotional learning solution development by policymakers, educators, and non-profit organizations is propelling the market growth.
Social and Emotional Learning (SEL) helps in recognition and control of feelings among adults and children with an aim to witness successful outcomes, thereby forming healthy partnerships that lead to rational decision making.
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Rising awareness about several applications for learning as well as addition of new features to these programs, and wide product portfolio are propelling the global social and emotional learning market growth.
However, limited expenditure budget may hamper the market growth over 2020-2027. Despite that, use of artificial intelligence in the K-12 education sector is likely to create opportunities for the global social and emotional learning (SEL) market.
In terms of type, the industry is bifurcated into web, and application. Considering the end user spectrum, the market is divided into middle & high schools, elementary schools, and pre-K. Based on component gamut, the industry is fragmented into services, and solutions.
From a regional frame of reference, worldwide social and emotional learning market is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. North America market is projected to record significant growth during the study period, mainly due to rising consumer demand for SEL, and increasing government support. Whereas, Asia-Pacific industry is anticipated to grow with a robust CAGR over 2020-2027, owing to rising spending power, and surging population in the region.
Major players operating in global social and emotional learning (SEL) industry sphere include Social Express Inc., Everyday Speech, Committee for Children, Emotional ABCs, Aperture Education LLC, EVERFI, Rethink Ed, Purpose Preparatory Academy, Nearpod Inc., and Peekapak.