COVID-19 Impact on Social and Emotional Learning (SEL) Market Growing at a CAGR 18.6% | Key Player Committee for Children, EVERFI, Everyday Speech, Peekapak, Nearpod

July 13 13:46 2020
COVID-19 Impact on Social and Emotional Learning (SEL) Market Growing at a CAGR 18.6% | Key Player Committee for Children, EVERFI, Everyday Speech, Peekapak, Nearpod

Committee for Children (US), EVERFI (US), Everyday Speech (US), Peekapak (Canada), Nearpod (US), Evolutions Labs (US), Rethink ED (US), Hoonuit (US), and Illuminate Education(US)
COVID-19 Impact on Social and Emotional Learning (SEL) Market by Component (Solutions and Services), Type (Web and Application), End User (Pre-K, Elementary Schools, and Middle and High Schools), and Region – Global Forecast to 2025

In an optimistic scenario, MarketsandMarkets expects the COVID-19 impact on the Global Social and Emotional Learning (SEL) Market size to grow from USD 1.5 billion in 2020 to USD 3.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.6% during the forecast period. Major factors driving the growth of the COVID-19 impact on the global social and emotional learning (SEL) industry includes higher adoption of social and emotional learning tools in Q4 of 2020 and Q1 of 2021, and the promotion of SEL by government organizations and improvement in school environment, citizenships, and relationships admist the crisis.

By component, the solutions segment to record a larger market size during the forecast period

SEL solutions comprise the SEL platform and the SEL assessment tool. SEL platform is used by educators (school/districts, teachers, parents, and communities) to help students work on their emotions, feelings, empathy, relationships, goals, responsibilities, and make informed decisions. With the rise in the cases of COVID-19, the adoption of SEL solutions has taken a beating. There are a lot of SEL stakeholders, such as schools, districts, and NGOs, where most of the day-to-day activities are being hampered due to the COVID-19 pandemic. In recent years, the adoption of SEL platforms is growing at a higher rate owing to their capability of integrating new solutions with the current platform. However, these platforms are more expensive as compared to standalone software. The COVID-19 pandemic has reduced spending on non-essential things and saved money to further deal with the economic crisis. Hence, it has affected the spending on SEL.

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By end user, the pre-K segment to record the highest growth rate during the forecast period

Principals, teachers, and policymakers have shown interest in implementing SEL into the pre-K curriculum. All pre-K students across the world are currently missing face-to-face instructions due to COVID-19. According to the Organization for Economic Co-operation and Development (OECD), over 421 million children are affected as of March 2020, due to school closures implemented in 39 countries. Another 22 countries have implemented partial ‘localized’ closures. However, UNESCO is helping countries across the globe to mitigate the immediate impact of school closures by facilitating the continuity of education for all educational institutes through remote learning. The remote pre-K SEL curriculum has helped kids to develop social skills, build a positive relationship with families and peers, prevent techniques from challenging behavior, and enhance knowledge with free online platforms offered by various companies. SEL programs offered by various companies through their videos and different activities have helped pre-K students to create a positive environment, ignore negative people, and learn new skills.

Key market players profiled in this report include Committee for Children (US), EVERFI (US), Everyday Speech (US), Peekapak (Canada), Nearpod (US), Evolutions Labs (US), Rethink ED (US), Hoonuit (US), and Illuminate Education(US). These players have adopted various growth strategies, such as partnerships and new service launches, to expand their presence in the SEL market and broaden their customer base.

Committee for Children (US) is one of the world’s largest providers of research-based SEL programs to schools and districts. The organization offers SEL programs with the brand name, Second Step. Currently, this organization reached more than 15 million students across 70 countries annually. Second step is a program rooted SEL that helps schools build supportive, successful learning environments uniquely equipped to encourage children to thrive. More than just a classroom curriculum, Second Step’s holistic approach provides education professionals, families, and large communities with tools to enable them to take an active role in the social-emotional growth and the safety of today’s children. The second step is available for pre-K, K-5, and middle school students with developmentally appropriate lessons and reinforcement tools. The SEL programs help students and adults in coping with and recovering from the extreme stress and trauma of the COVID-19 pandemic. CFC provides various free resources for educators and families, supporting the social-emotional skills and well-being of children and adults. Some of the free resources are Free SEL Activities, Second Step SEL Passport, The Imagine Neighborhood, Mind Yeti, Little Children, Big Challenges, Captain Compassion, Hot Chocolate Talk, ParenTeen Connect, and SEL Posters.

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EVERFI (US) drives its business through Software-as-a-Service (SaaS)-based educational software across financial institutions, higher education (colleges and universities), corporates and NPOs, and sports and entertainment companies. Amidst the COVID-19 crisis, the company is providing a catalog of digital learning resources for bringing meaningful remote learning to students focusing on social-emotional learning, health and wellness, financial capability, and career readiness. In May 2020, EVERFI joined hands with six sports leagues to launch, EduCup, the first-of-its-kind education challenge for students who are homebound during the COVID-19 pandemic throughout the US and Canada. The six sports leagues include Major League Baseball, Major League Soccer, National Football League in partnership with United Way Worldwide, National Hockey League in partnership with National Hockey League Players’ Association, National Lacrosse League, and Premier League. This competition has helped K-12 students to engage in learning and healthy habits through EVERFI courses. Truist Financial Corp. has announced its partnership with EVERFI to launch an online program to teach literary skills.

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