Global Higher Education Market Growth Driven by Increasing Enrollments and Online Education, but COVID-19 and Geopolitical Tensions Pose Challenges: Makreo Research Report

Enrollment in the higher education sector is increasing on a global scale. However, middle-income nations account for the majority of this growth, with high-income nations experiencing more of a stagnation. The worldwide higher education market is anticipated to be stimulated by rising international student enrollments and growth in private education institutions. The worldwide higher education market is also expanding as a result of the education sector's growing internationalization.

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The Global Higher Education market was valued at USD 85.24 billion in 2021. The market witnessed a positive growth during the year 2020 despite the outbreak of the virus, owing to the increasing demand for education and the expansion of online education that helped the institutes continue to reach out to the students.

The market for higher education is expanding as a result of rising globalization and rising student enrollments, among other important considerations. Increased connectivity and hardware, the privacy of multiple cloud-based resources, the introduction of online and collaborative learning, and the personalization of technology are all contributing factors to the growth of the higher education sector.

◘ By Mode of Education: In 2021, offline mode held a major market share, dominating the industry. The high preference for conventional learning techniques is a key element promoting market expansion in this sector. However, the online method is becoming more popular as a result of the COVID-19 outbreak. The market for the online segment is predicted to grow by double digits as a result of features like scalability, adaptability, and cost-effectiveness.

◘ By Service Providers: So far, state universities have a dominant share in the industry. State colleges provide reasonable tuition costs, a vibrant environment, a devoted student body, knowledgeable faculty, and appealing job placement options. These elements are fueling the segment's market expansion.

◘ By Region: The North American region was the highest revenue contributor, accounting for market share in the global higher education market in 2021 followed by Europe, Asia Pacific, and LAMEA. In the year 2021, North America accounted for the largest market share of 30%. The largest concentration of educational institutions and universities worldwide is in North America.
Impact of COVID-19 in the US Higher Education Market

In 2020, the US higher education market saw a 20% decline in foreign enrolment, which resulted in income losses of close to USD 10 billion. Recovery may not be as simple, despite the fact that some students are starting to come back. International students were already leaving the US before the outbreak.

Key Facts
◙ In 2021-2022, there will be about 235 million students enrolled in universities worldwide, a figure that has increased by more than doubling in the previous 20 years and is anticipated to rise.
◙ English-speaking countries are among the largest hosts of international students, with the United States enrolling about one-quarter of all the world's globally mobile students.
◙ Despite the COVID-19 pandemic-related slowdown in growth over the past year. Between FY 2016 and FY 2020, R&D spending that was supported by public funding and institutional resources increased yearly.
◙ The number of students enrolling online has significantly increased over the last two to three years, particularly in 2020 when it doubled from 76 million to 143 million students, and then increased to almost 189 million in 2021.

A report on higher education enrolment and growth has been released by Makreo Research. Entitled "Global Higher Education Market Future Forecast to 2027- COVID-19 and Russia-Ukraine War Impact Assessment," it is a thorough analysis that enables the reader to comprehend the market from the perspectives of the economy, higher education enrolment and growth trends, student behaviour, and other external factors.

The analysis includes a number of macroeconomic and sectoral issues that affect the higher education market. The study provides information on market revenue and forecasts as well as insights into the opportunities and problems faced by the sector.

The paper looks at the worldwide higher education industry from a variety of angles, including the rising demand for higher education, the rise in student enrolment, and many others. The study analyses the higher education market by location, service provider type (Public institutions and Private universities), and mode of instruction (Offline and Online). Market performance is covered through regional demand assessments.

Key Questions Answered
1. What is the present state of the global economy and how COVID-19 has changed the economic outlook for many geographies?
2. How higher education enrolment rate grew in the past and what is the present situation of enrolment in the global higher education market?
3. How higher education market revenues grew in the past and what is the future expected growth?
4. What are the preferred countries worldwide for the higher education?
5. What are the leading countries worldwide in terms of enrolments?
6. At what rate global higher education industry is expected to grow?
7. How North America higher education market is performing and what is the expected road ahead for US and Canada?
8. How Europe higher education industry has performed in the past and what is the present state?
9. What is the present growth scenario of Asia-Pacific higher education industry?
10. Who are the key players/private higher education institutions and how are these institutions performing?

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