Full STEAM Ahead
Full Steam Ahead
China has been actively promoting STEAM education in recent years. Many companies have been quick to spot the business opportunities and lost no time launching different types of STEAM toys and coding courses onto the market. According to
Euromonitor International, Mainland China will see the fastest growth in STEAM toy sales in the world, with sales revenue soaring by 50% from US$3 billion in 2016 to US$4.5 billion in 2021, outstripping global sales growth of about 20%.
Hong Kong is an international city with a fast flow of information and easy access to advanced technology and STEAM courses in various parts of the world. Hong Kong companies can make use of this advantage to introduce suitable STEAM courses and teaching tools to the mainland. They may also consider working with mainland businesses and look for opportunities for cooperation in the areas of hardware, teaching tool, courses and even teacher training. STEAM toys and coding education has a vast market, whether in primary, junior or senior secondary schools or in the low, medium or high ends. Companies should be able to find scope for development by finding their right place in the market.