Virtual Charter Schools Market Trends

Growth Drivers

• Huge adoption of advanced technology - The growing adoption of advanced technology in the education system such as the integration of artificial intelligence, virtual reality, and e-learning courses boosts the market growth of virtual charter schools. Moreover, shifting focus towards online learning which caters to the needs of students with different locations, skills, and backgrounds to provide a platform for interactive learning experiences. According to Research Nester analysis, at least 60% of internet users have indulged in online learning. Additionally, the use of digital tools in virtual schools helps in assigning projects to students to monitor their progress.
• Growing trend of personalized learning - The rising trend of personalized learning to increase flexibility in learning contributes to the market growth of virtual charter schools. The shifting preference from traditional learning to the personalized learning has increased enrollment in virtual charter schools. To facilitate personalized learning efficiently, virtual charter schools are more focused on developing curriculum and adaptive learning solutions by integrating interactive media resources.
  
  Furthermore, the rising need for skill development and effective learning experiences stimulates the market growth of virtual charter schools.
• Increasing preference for cost-effective learning methods - There is an increase in the number of students choosing online learning platforms which saves their time and money and contributes to the market growth of virtual charter schools. Commuting to offline institutions or schools to attend classes involves a lot of money spent on buying books and traveling costs.
  
  Moreover, the growing demand for short-term courses which are easily available online at affordable prices and provide repeated access to course material expands the market size of virtual charter schools. According to a recent report, online learning courses have been completed by 49% of students globally.

Challenges

• Lack of social interaction - There is limited exposure and social interaction for students in a virtual learning platform. Less scope for extra-curricular activities, leadership skills, and personality development may affect students’ decision-making capacities and hamper the market growth of virtual charter schools.
• Limited access to technology - Good internet connection and availability of digital devices are required in virtual charter schools. Many students across different locations still do not have proper internet connectivity and technologically advanced devices which may reduce the number of enrollments in virtual charter schools.