K-12 Makerspace Materials Market Analysis with Highlights on the Impact of COVID-19 (2020-2024) | Advent of Advanced Makerspace Materials to Boost Market Growth | Technavio

The K-12 makerspace materials market is expected to grow by USD 372.46 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Technavio has announced its latest market research report titled Global K-12 Makerspace Materials Market 2020-2024 (Graphic: Business Wire)

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The traditional K-12 makerspace materials market included the use of materials such as paper, scissors, and crayons. With the advent of technology and the rising emphasis on practical learning, vendors in the market are introducing advanced marketspace materials such as Sphereo, Makey Makey, Cubelets, Littlebits, and others. Makerspace materials such as Makey Makey allow students to turn everyday objects into touchpads and combine them with the Internet. Similarly, Sphero is an app-enabled robotic ball that can be programmed and be used to offer experiential learning in the domain of coding and programming. The advent of such innovative makerspace materials is fueling the growth of the market.

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As per Technavio, the increasing emphasis on makerspace-aligned curriculum will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

K-12 Makerspace Materials Market: Increasing Emphasis on Makerspace-Aligned Curriculum

Schools across the world are revolutionizing their teaching patterns by adopting library spaces, STEAM laboratories, and virtual laboratories to bring creativity among students. They are also encouraging students to engage in activities such as tinkering, building, sharing ideas, developing, and designing prototypes of new products. Such activities are enabling students to carve their imaginations into live objects using various makerspace materials. Hence, there is an increased demand for marketspace materials from schools, which is driving the growth of the market.

“Increased funding from private organizations and the rising emphasis on online makerspaces will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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K-12 Makerspace Materials Market: Segmentation Analysis

This market research report segments the K-12 makerspace materials market by Product (Robotic toolkits, Construction materials, Arts and crafts materials, and Other materials), Geography (North America, Europe, APAC, South America, and MEA), and School Level (Middle school, Elementary school, and High school).

The North American region led the K-12 makerspace materials market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the presence of a large number of prominent vendors in the region.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200827005047/en/