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Education Sector in Singapore to 2019 — Market Size and Intelligence Report — Indalytics Advisors

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The report ‘Education Sector in Singapore to 2019 — Market Size and Intelligence’ discusses the current market size of the Singapore’s education sector. It segregates the market size on the basis of various levels of education, starting from school to higher education.

The report discusses the forecasted market size and year–wise growth of the sector till 2019, along with the various drivers, which will lead to this growth. It further discusses the various trends that are shaping the education sector.

Various regulations pertaining to entering Singapore’s education market are also mentioned in the report, along with the profile of key players that are active in private education space.

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Education Sector in Singapore to 2019 — Market Size and Intelligence Report — Indalytics Advisors

  1. 1. EDUCATION SECTOR IN SINGAPORE TO 2019 — MARKET SIZE AND INTELLIGENCE REPORT Indalytics Advisors business@indalytics.com www.indalytics.com July 2014
  2. 2. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 1 TABLE OF CONTENT  Education System in Singapore  Market Size of Singapore’s Education Sector  Forecasted Market Size of Singapore’s Education Sector  Drivers Impacting Singapore’s Education Sector o Driver 1 o Driver 2 o Driver 3 o Driver 4  Trends in Singapore’s Education Sector o Trend 1 o Trend 2 o Trend 3 o Trend 4  Setting–up a Private Educational Institution in Singapore  5-forces Analysis of Education Sector in Singapore o Threat of New Competition o Threat of Substitute Products and Services o Bargaining Power of Buyers o Bargaining Power of Suppliers o Intensity of Competitive Rivalry  Profiles of Major Players o Crestar Education Group Private Limited o Ednovation Private Limited o EtonHouse International Holdings Private Limited o Informatics Education Limited o Kaplan Singapore o Marshall Cavendish Education Private Limited o NTUC LearningHub Private Limited o Overseas Education Limited o Raffles Education Corporation Limited o TMC Education Corporation Limited  Annexure
  3. 3. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 2 LIST OF FIGURES  Figure 1: Education System in Singapore  Figure 2: Singapore’s Education Sector — Market Size (S$ billion / US$ billion)  Figure 3: Singapore’s Education Sector — Public and Private Education — Enrollments  Figure 4: Singapore’s Education Sector — Public and Private Education — Market Size  Figure 5: Forecasted Market Size of Singapore’s Education Sector — 2014(E)–2019(F)  Figure 6: Government Spending on Education — 2010–2014  Figure 7: Government Spending on Education — Operational and Development Projects  Figure 8: Population of Singapore — 2010–2014  Figure 9: Population Growth in Singapore — Residents and Non–residents  Figure 10: Breakup of Singapore’s Population — Residents and Non–residents — 2013  Figure 11: GDP Growth Rate of Singapore, as compared to Other Countries  Figure 12: Household Broadband Access (%) in Singapore — 2003–2013  Figure 13: Internet Usage for Education and Learning Activities in Singapore — By Age Groups  Figure 14: Singapore Government Expenditure on Technology in Education — 2013– 2014  Figure 15: Private Educational Institutions in Singapore — By Types  Figure 16: Enrollment in Private Educational Institutions in Singapore — By Types of Institutions  Figure 17: Enrollment in Private Educational Institutions in Singapore — Residents and non–residents  Figure 18: Enrollment in Private Educational Institutions in Singapore — By Types of Courses  Figure 19: Enrollment in Postsecondary Courses in Private Educational Institutions in Singapore — By Types of Courses
  4. 4. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 3  Figure 20: International Students in Government and Private higher Education Institutions in Singapore  Figure 21: Visitors from ASEAN Countries in Singapore — 2010–2013  Figure 22: Five Forces Analysis of Singapore’s Education Sector  Figure 23: Number of Teaching Staff in Singapore  Figure 24: Break–up of Singapore’s School Education, Higher Education and Vocational Education Market into Government and Private  Figure 25: Combined Gross Enrollment Ratio in Singapore  Figure 26: Literacy Rate in Singapore  Figure 27: Singapore Population by Age Groups
  5. 5. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 4 PUBLICATION DATE July 2014 NUMBER OF PAGES 65 PRICE OF THE REPORT Single User: US$1,500 Multi User/ Enterprise: US$3,750 Visit www.indalytics.com or write to us at info@indalytics.com to know more about the report.
  6. 6. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 5 ABOUT THE REPORT The report ‘Education Sector in Singapore to 2019 — Market Size and Intelligence’ discusses the current market size of the Singapore’s education sector. It segregates the market size on the basis of various levels of education, starting from school to higher education. The report discusses the forecasted market size and year–wise growth of the sector till 2019, along with the various drivers, which will lead to this growth. It further discusses the various trends that are shaping the education sector. Various regulations pertaining to entering Singapore’s education market are also mentioned in the report, along with the profile of key players that are active in private education space.
  7. 7. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 6 EXECUTIVE SUMMARY Singapore has one of the highest literacy rates (96.4%) among the developing countries — with a combined gross enrollment ratio of approximately 108.5%. The country caters to approximately 17% of its population across various levels of education, and spends approximately 21% of its total government expenditure on education. Almost half of the Singapore’s education sector is dominated by higher education, followed by school education, and vocational education and training. The sector has benefitted from high government spending of approximately one–fifth of the total fiscal budget on education, and demand from international students. Demand for private education is coming from both locals, as well as expatriates staying in Singapore. The country is witnessing an increase in number of private educational institutions, especially in higher education — which is also attracting several international students. Demand for higher education is further supported by the intra–region mobility among ASEAN countries. Singapore is also witnessing increased use of technology, as the students are actively using the internet for education.
  8. 8. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 7 Singapore’s education sector is expected to grow at a compound annual growth rate (CAGR) of approximately 2.22% till 2019. The growth will be driven by various factors, such as increased government and private spending on education, demand from expatriates and non–residents representing 29% of the population, and increased use of technology. RESEARCH METHODOLOGY This report has been prepared through the following comprehensive methodology: The market definitions used in the reports are the standard definitions recognized by the industry. In this report, the market size of the education sector is defined as the sum total of core expenditure on teaching students. It includes the fees paid by students in private schools and higher education institutions, as well as the government expenditure per student in case of public schools and higher education institutions. Bases of all the figures are taken from the statistics provided by the government, ministries, as well as prominent organizations such as the World Bank, International Monetary Funds, UNESCO Institute of Statistics, World Factbook — CIA etc. The data is further validated through credible analyst reports, white papers by industry organizations, questioners and expert interviews.
  9. 9. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 8 LIST OF ORGANIZATIONS MENTIONED IN THE REPORT Assumption Pathway School Birmingham City University Crest Secondary School Crestar Education Group Ednovation Private Limited Edusnap EtonHouse International Holdings Private Limited Hull University Informatics Academy Informatics Education Limited Informatics Global Campus INSEAD John Hopkins Kaplan Inc. Knowledge Universe LASALLE College of the Arts Marshall Cavendish Education Private Limited Modern Montessori International Murdoch University Nanyang Academy of Fine Arts Nanyang Technological University National University of Singapore NCC Education Northlight School NTUC LearningHub Private Limited Overseas Education Limited Raffles Education Corporation Limited Royal Holloway University of London Simplilearn Spectra Secondary School Tembusu Partners TMC Education Corporation Limited University College of Dublin
  10. 10. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 9 REPORT SAMPLE EDUCATION SYSTEM IN SINGAPORE Singapore’s education sector caters to 0.93 million students, and accounts for 21% of the government’s annual budget. The education sector is regulated by the Ministry of Education, which also governs all the public schools and higher education institutions, and set guidelines for the private ones. For Singapore citizens, the education is free in public schools and government–subsidized in private schools. Education is also mandatory till primary level through the Compulsory Education Act — which makes it a criminal offence for parents failing to enroll their students in schools and ensuring their regular attendance, with an exception for homeschooling or full-time religious institutions’ students. Education in Singapore starts at the age of three with preschool education, and continues for three years. The years are called Nursery, Kindergarten 1 (K1) and Kindergarten 2 (K2), with each year having two semesters. Preschool education is not mandatory, and is imparted by several private as well as government–sponsored kindergartens. The People's Action Party — which has governed Singapore since 1957 — operates approximately 235 kindergartens through its charitable arm, PAP Community Foundation.
  11. 11. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 10 FIGURE 1: EDUCATION SYSTEM IN SINGAPORE Source: Indalytics Advisors
  12. 12. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 11 FIGURE 2: SINGAPORE’S EDUCATION SECTOR — MARKET SIZE (S$ BILLION / US$ BILLION) Source: Indalytics Advisors FIGURE 3: SINGAPORE GOVERNMENT EXPENDITURE ON TECHNOLOGY IN EDUCATION — 2013–2014 Source: Indalytics Advisors School education Higher education Vocational education and training Year = 2014 (E) Total Market Size: S$XXX billion US$XXX billion Infrastructure Setup to Support Pervasive Use of ICT in Teaching, Learning and Assessment Technology Refresh 2014 (E) 2013
  13. 13. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 12 FIGURE 4: ENROLLMENT IN PRIVATE EDUCATIONAL INSTITUTIONS IN SINGAPORE — BY TYPES OF INSTITUTIONS Source: Indalytics Advisors FIGURE 5: INTERNATIONAL STUDENTS IN GOVERNMENT AND PRIVATE HIGHER EDUCATION INSTITUTIONS IN SINGAPORE Source: Indalytics Advisors Commercial Postsecondary institutions Vocational postsecondary Institutions Preparatory educational Institutions Foreign System Primary and Secondary Schools Total enrollment: XX Government Higher education Institutions Private Higher Education Institutions
  14. 14. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 13 FIGURE 6: FIVE FORCES ANALYSIS OF SINGAPORE’S EDUCATION SECTOR Source: Indalytics Advisors Threat of new competition Threat of substitute products and services Bargaining power of buyers Bargaining power of suppliers Intensity of competitive rivalry Government Institutions Private Institutions Low High
  15. 15. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 14 DISCLAIMER No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, Indalytics Advisors Private Limited. The information contained in this report is of a general nature and is not intended to address any particular individual or entity’s circumstances. Although proper care has been taken to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. The publisher should not be held liable for any discrepancy in the information. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Publication Volume: GCI-14-GL–04 Publication Date – July 2014 © 2014 Indalytics Advisors Private Limited For further information, please contact info@indalytics.com
  16. 16. Education Sector in Singapore to 2019 — Market Size and Intelligence Report ©Indalytics Advisors Pvt. Ltd l www.indalytics.com l 15 NOTES

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