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Driving School Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The driving school market size is expected to see strong growth in the next few years. It will grow to $119.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.” - The Business Research Company
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Is the Driving School Market Experiencing Significant Growth?
The driving school market has seen noticeable growth in recent years, expected to surge from $94.32 billion in 2023 to $98.71 billion in 2024, showcasing a compound annual growth rate CAGR of 4.7%. The substantial growth during the historic period can be credited to factors such as reduced fuel consumption, a rise in the need for effective management tools, increased safe driving practices, and the growth in the number of vehicles.
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How Will the Drivers Affect the Future Growth of the Driving School Market?
The driving school market is forecasted to see significant growth in the forthcoming years, expected to reach $119.98 billion by 2028, achieving a compound annual growth rate CAGR of 5.0%. Factors contributing to market growth during the forecast period include increasing road accidents, adoption of eco-friendly and alternative modes of transportation, a rise in the young drivers' population, and growing demand for driving education and licenses. Technological innovations, digital transition in education, online learning, integration of virtual reality, and eco-driving techniques are the major trends anticipated to shape the market landscape in the forecast period.
What are the Major Drivers for the Driving School Software Market?
A significant driver for the growth of the driving school software market is the increasing demand for driver education. Factors contributing to this rising demand include the growing need for skilled drivers, advancements in technology making online learning accessible, stricter driving regulations, a rise in road safety awareness, and the appeal of flexible learning schedules. The driving school software enhances driver education by streamlining administrative tasks, managing student progress, and optimizing scheduling and communication. For example, the Driving Standards Agency, an executive agency of the UK Department for Transport, reported that 1,689,000 car tests were conducted in the year ending March 2023, recording a 10% increase compared to the previous year. As a result, the rising demand for driver education is driving the growth of the driving school software market.
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What Alternate Modes of Driving Education are Emerging?
Key players in the driving school market are developing innovative solutions such as online platforms for driving education. These digital services offer courses, educational materials, and practice tests to individuals, helping them learn driving theory, road safety rules, and driving skills. For instance, in June 2022, the Canada-based online driving school, Kruzee, launched Canada's first online driver's education platform, aiming to transform the driving school experience. The comprehensive platform facilitates students to book lessons with vetted instructors, complete theory courses at their pace, and benefit from a ministry-approved curriculum, all prioritizing safety and transparency. Kruzee aims to address traditional driving school inefficiencies using technology, providing a more engaging, convenient, and accessible learning experience for young drivers in Canada.
How is the Driving School Market Segmented?
The driving school market is segmented by:
1 Type: Car, Motorcycle, Truck, Bus, Specialty Vehicle Driving
2 Customer Profile: Young Customers Aged 16-24, Older Customers Aged 25-64, Senior Customers Aged 65 And Above
3 Region: Urban, Suburban, Rural, Remote Areas
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.