(MENAFN- America News Hour) Over previous few years, Middle East has recognized promotion of education as its topmost priority as it helps in sustainable economic growth of the region. In recent years, the region has seen a spiked growth in the expats from across the globe. As a result, various boards like International Boards, U.S. Board, CBSE board etc. can be seen widely accepted in the region.
Regionally, the Middle East education market is segmented into some of the major countries such as Saudi Arabia, U.A.E., Qatar, Kuwait and Bahrain. Saudi Arabia is anticipated to account for the largest share in Middle East education market over the forecast period i.e. 2015-2021.
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Market Size and Forecast
At present, Saudi Arabia dominates the Middle East education market. Education market in the region is escalated by huge spending of the government on education sector (spending on education accounts for 7.8% of GDP). The education market in the country is further anticipated to witness a CAGR of 1.6% by 2018. The U.A.E education market is sparked by technological advancements in education methodology. U.A.E. education market is believed to nurture at a CAGR of 8.9% from 2014-2018.
Bahrain invests approximately 11.2% of its total budget on promotion of education facilities in the country. Education market in Bahrain is likely to witness a CAGR of 2.6% by 2018. Qatar education market is expected to experience a stupendous growth rate sparked by rapidly rising population in the country. Education market in Kuwait is also envisioned to have a robust growth owing to expansion in education scholarships and positive economic growth of the country.
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Key Players:
Middle East education market is very competitive and includes some of the top players such as SSAT, Raytheon, VS, GEMS education, AMIDEAST, SABIS, Kaplan, etc.
Market Segmentation
By Sectors
Based on sectors, Middle East education market can be segmented into public and private education sectors.
By Mode of Education
On the basis of mode of education, Middle East education market is segmented as e-learning and classroom learning.
By Type
Middle East education market is divided on the basis of types into primary and secondary education, post- secondary education, corporate and government learning and others.
By Geography
Based on the countries, the market has been studied for UAE, Saudi Arabia, Qatar, Bahrain, Oman, and Kuwait
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Growth Drivers and challenges
Increasing government spending on education industry and rising educational promotional schemes in Middle East region are two major factors which are believed to augment the growth of Middle East education market in future.However, lack of skilled teachers and rising conflicts in the region are believed to dampen the growth of Middle East education market over the forecast period i.e 2015-2021.
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