Educational Revolution: Global Higher Education Market Size to Achieve 10.4% CAGR, Reaching $210.06 Billion by 2030
[212 + Pages Research Study] According to a market research study published by Zion Market Research, the demand analysis of Global Higher Education Market size & share revenue was valued at around USD 95.19 billion in 2022 and is estimated to grow about USD 210.06 billion by 2030, at a CAGR of approximately 10.4% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Pearson, McGraw-Hill Education, John Wiley & Sons, Cengage Learning, Blackboard Inc., Adobe Systems, Oracle, IBM, Microsoft, SAP SE, Dell EMC, Instructure, Pearson, Knewton, D2L Corporation, Smart Technologies, Promethean Inc., Cornerstone OnDemand, Saba Software, Adobe Systems, Desire2Learn Corporation, Three Rivers Systems, Educomp Solutions, NIIT Ltd., Ellucian Company L.P., Blackboard Inc., Xerox Corporation, Discovery Communication, SumTotal Systems, e
New York, NY, Sept. 04, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Higher Education Market – By Component (Hardware, Solutions, And Services), By Learning Mode (Offline Learning And Online Learning), By End-User (Private Colleges, Community Colleges, And State Universities), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Higher Education Market size & share in terms of revenue was valued at USD 95.19 billion in 2022 and it is expected to surpass around USD 210.06 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 10.4% during the forecast period 2023 to 2030.”
What is Higher Education? How big is the Higher Education Industry?
Higher Education Report Coverage & Overview:
In the Global Higher Education Market Report, higher education plays a pivotal role in achieving professional and financial goals. It is often considered a natural progression in the human life cycle. Furthermore, higher education significantly contributes to individual self-determination and fosters a positive self-image.
In several countries, post-secondary education holds the key to securing employment, particularly in small and medium-sized businesses. This, in turn, leads to an improved quality of life and opens up new growth opportunities in one’s professional career. Notably, there has been a significant increase in the enrollment of students with disabilities in two and four-year post-secondary institutions, thanks to legal provisions and the enactment of legislation aimed at ensuring educational equality for disabled individuals.
For instance, Section 504 of the Rehabilitation Act of 1973 in the United States mandates that postsecondary institutions provide disabled students with equal educational opportunities, facilities, and necessary educational support services.
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Global Higher Education Market: Growth Dynamics
In the Higher Education Market Report, the increase in higher education enrollments in countries like the United States, the United Kingdom, Australia, and Germany, along with a surge in educational trips undertaken by undergraduate students to destinations such as France, Sweden, Belgium, and Italy, has had a significant impact on the growth of the higher education market. Additionally, the rise in international student mobility and the availability of favorable government schemes, such as government scholarships for deserving students in countries like India who wish to study abroad, are poised to enhance the global growth of the higher education market in the coming years.
The proliferation of online learning degree programs offered by both regional and foreign educational institutions has facilitated increased student enrollment in these programs, expanding the market’s scope for growth. For instance, the Massachusetts Institute of Technology (MIT) in the United States offers courses in developing economies through the online learning platform edX.
Renowned universities worldwide, including institutions such as the Indian Institutes of Technology (IIT), Stanford, and Harvard, now provide a wide range of certificate and diploma courses in areas like data science, business analytics, AI, big data, machine learning, deep learning, and marketing analytics, all at affordable costs. Furthermore, select foreign educational institutions offer online MBA degree programs with reasonable tuition fees, further diversifying educational opportunities for students.
Moreover, rise in imparting education through online mode has created new growth avenues for higher education market. In addition to this, outbreak of COVID-19 pandemic resulted in lockdown in various parts of world and led offline educational activities coming to standstill. This has promoted demand for online education, thereby expanding size of higher education industry. Apparently, conventional education system has given way to virtual and blended mode of education, thereby culminating into humongous higher education market expansion in recent years. Citing an instance, in first quarter of 2020, Chinese Ministry of Education offered teaching to more than 250 million students through online mode of learning along with providing them with a facility of learning in flexible hours as well as per their own convenience. With students able to learn and gain education at their own pace and convenience through online delivery of lectures, the online mode of education is garnering momentum and this is likely to drive higher education market growth.
Unprecedented growth of higher education market over coming years can be attributed to massive student enrollment in online educational courses offered by foreign universities. In addition to this, easy access to high speed internet facility, easy availability of personal computing devices such as laptops & tablets, and launching of high speed 5G network will culminate into steep growth of higher education market. Apparently, rising digital learning trends among young, adult, and elderly population will garner lucrative benefits for higher education market in coming years.
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|Market Size in 2022||USD 95.19 billion|
|Projected Market Size in 2030||USD 210.06 billion|
|CAGR Growth Rate||10.4% CAGR|
|Key Market Players||Pearson, McGraw-Hill Education, John Wiley & Sons, Cengage Learning, Blackboard Inc., Adobe Systems, Oracle, IBM, Microsoft, SAP SE, Dell EMC, Instructure, Pearson, Knewton, D2L Corporation, Smart Technologies, Promethean Inc., Cornerstone OnDemand, Saba Software, Adobe Systems, Desire2Learn Corporation, Three Rivers Systems, Educomp Solutions, NIIT Ltd., Ellucian Company L.P., Blackboard Inc., Xerox Corporation, Discovery Communication, SumTotal Systems, Tata Interactive Systems|
|Key Segment||By Type, By Application, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Purchase Options||Request customized purchase options to meet your research needs. Explore purchase options|
Higher Education Market: Segmentation Analysis
The segmentation analysis of the Higher Education Market involves categorizing the market into distinct segments based on various criteria for a comprehensive understanding. Key aspects of this analysis include:
- Demographic Segmentation: This involves dividing the market based on demographic factors such as age, gender, and income levels of the student population. It helps in tailoring educational programs to specific groups.
- Educational Level: Segmenting by educational level differentiates between higher education offerings such as undergraduate, graduate, postgraduate, and doctoral programs. Each level has unique characteristics and requirements.
- Programs and Courses: Segmenting by programs and courses involves categorizing offerings by discipline or field of study, enabling institutions to focus on meeting specific academic and vocational needs.
- Mode of Delivery: This segmentation looks at how education is delivered, including traditional on-campus learning, online education, or hybrid models. It addresses the evolving preferences of students.
- Geographical Segmentation: Dividing the market by geographic regions helps institutions adapt their offerings to the unique educational needs, regulations, and cultural factors of different areas.
- Revenue Sources: Analyzing revenue sources, such as tuition fees, grants, research funding, and endowments, helps institutions diversify income streams and optimize financial strategies.
- Industry-Academia Collaboration: Segmenting based on collaborations between universities and industries helps identify opportunities in research, workforce development, and specialized programs.
- Student Type: Categorizing students into segments like full-time, part-time, international, or working professionals allows institutions to tailor services and programs accordingly.
- Technological Adoption: Segmenting by technology adoption assesses the integration of digital tools, e-learning platforms, and educational technologies in the curriculum.
- Government Initiatives: Analyzing government policies and initiatives that impact higher education, such as scholarships, grants, and regulatory changes, helps institutions align with national priorities.
By conducting a thorough segmentation analysis, stakeholders in the Higher Education Market gain valuable insights to customize their offerings, target specific student groups, and adapt to evolving trends and preferences in the education sector.
The global Higher Education market is segmented as follows:
Global Higher Education Market By Component
- Private Colleges
- Community Colleges
- State Universities
By Learning Mode
- Offline Learning
- Online Learning
Browse the full “Higher Education Market – By Component (Hardware, Solutions, And Services), By Learning Mode (Offline Learning And Online Learning), By End-User (Private Colleges, Community Colleges, And State Universities), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022 – 2030” Report at https://www.zionmarketresearch.com/report/higher-education-market
Some of the main competitors dominating the global Higher Education market include –
- McGraw-Hill Education
- John Wiley & Sons
- Cengage Learning
- Blackboard Inc.
- Adobe Systems
- SAP SE
- Dell EMC
- D2L Corporation
- Smart Technologies
- Promethean Inc.
- Cornerstone OnDemand
- Saba Software
- Adobe Systems
- Desire2Learn Corporation
- Three Rivers Systems
- Educomp Solutions
- NIIT Ltd.
- Ellucian Company L.P.
- Blackboard Inc.
- Xerox Corporation
- Discovery Communication
- SumTotal Systems
- Tata Interactive Systems
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Higher Education market is likely to expand at a CAGR of around 10.4% during the forecast period (2023-2030).
- In terms of revenue, the Higher Education market size was valued at around US$ 95.19 billion in 2022 and is projected to reach US$ 210.06 billion by 2030.
- Growing Global Enrollments: There is a noticeable increase in higher education enrollments, with countries like the U.S., the U.K., Australia, and Germany attracting a significant number of international students.
- International Student Mobility: The rise in educational trips by undergraduate students to countries like France, Sweden, Belgium, and Italy is contributing to the global higher education market’s growth.
- Government Schemes: Favorable government schemes, including scholarships for students studying abroad, are expected to enhance the expansion of the higher education market worldwide. For example, India offers government scholarships to deserving students pursuing education abroad.
- Online Learning: The proliferation of online learning degree programs, particularly in fields like AI and data science, is driving student enrollment. Institutions in the U.S. are leading in offering these programs.
- Diverse Course Offerings: Renowned universities worldwide, including the Indian Institutes of Technology (IIT), Stanford, and Harvard, are offering a variety of certificate and diploma courses, ranging from data science to economics, at affordable costs.
- MBA Programs: Reputed U.S. universities are extending their offerings to include MBA programs, adding to the diversity of educational opportunities for students.
- Presence of Prestigious Universities: The presence of prestigious universities offering both online and offline education options in countries like Canada and the U.S. is driving growth in the higher education market in North America.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Higher Education industry?
- What are the main driving factors propelling the Higher Education Market forward?
- What are the leading companies in the Higher Education Industry?
- What segments does the Higher Education Market cover?
- How can I receive a free copy of the Higher Education Market sample report and company profiles?
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Component, By Learning Mode, By End User and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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The expansion of the higher education market in North America during the assessment period can be attributed to the increasing acceptance of Bring Your Own Device (BYOD) practices by both faculties and students in countries like Canada and the United States. This adoption has facilitated the effective and uninterrupted delivery of online lectures.
Additionally, the growing collaborations between industries and academia have led to the widespread popularity of higher education programs among youth in these nations. Renowned organizations in the United States and Canada have also established their educational institutions, where they provide specialized training to their employees according to job requirements. These institutions focus on honing, upgrading, and shaping professional skills, benefiting both organizations and employees. This strategic move is expected to enhance organizational profitability and employee job satisfaction, leading to improved work productivity and quality. Collectively, these factors are poised to make a significant contribution to the regional market’s size throughout the projected period.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/higher-education-market
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