Higher Education Market: Global Industry Analysis and Growth Forecast 2024

The higher education market size has grown strongly in recent years. It will grow from $640.23 billion in 2023 to $688.13 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to growing number of higher education enrollments, access to knowledge, innovation and research, social mobility, community development.

The higher education market size is expected to see strong growth in the next few years. It will grow to $1,004.85 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to growing international student mobility, economic mobility, globalization, critical thinking, growing international student mobility. Major trends in the forecast period include technological advancements as well rising student enrolment, the rapid technological advancements, online learning and hybrid models, globalization of education, emphasis on lifelong learning.

Market Overview -
Higher education, or post-secondary education, or tertiary education, refers to the stage of formal learning that follows secondary education. It is used to offer disciplines and fields of study, providing students with specialized knowledge and skills to prepare them for careers in various industries or for further academic research.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13859&type=smp

Role Of Growing International Student Mobility In Fueling Higher Education Market Expansion
The growing international student mobility is expected to propel the growth of the higher education market going forward. International student mobility refers to the movement of people across national boundaries for the purpose of education. Higher education plays a crucial role in international student mobility by attracting specific programs or institutions that offer unique specializations or a prestigious reputation. For instance, in November 2023, according to the Institute of International Education Inc., a US-based student exchange organization, during the 2022/23 academic year, American higher education institutions hosted over 1,057,188 international students from more than 210 countries, marking a 12% increase from the previous year. Therefore, growing international student mobility is driving the growth of the higher education market.

Competitive Landscape -
Major companies operating in the higher education market report are Verizon Communications Inc., Dell Technologies Inc., Panasonic Corporation, The International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Adobe Inc., VMware Inc., ServiceNow Inc., Xerox Holdings Corporation, Pearson plc, Educomp Solutions Limited, New Oriental Education & Technology Group Inc., Bright Horizons , Blackbaud Inc., Ellucian Company L.P., Coursera Inc., Instructure Inc., Desire2Learn Inc., Smart Technologies Inc., Anthology Inc., Leverage Edu, SAP SE, Unit4 Education Solutions

Impact Of AI Tools On Higher Education
Major companies operating in the higher education market are developing innovative technologies, such as AI tools, to enhance various aspects of teaching and learning. An AI tool refers to any software or application that uses artificial intelligence (AI) to perform tasks that typically require human intelligence, such as reasoning, learning, problem-solving, and decision-making. For instance, in August 2023, OpenAI, a US-based artificial intelligence research organization, launched the most powerful version of ChatGPT, a tool that has the potential to revolutionize and enhance the learning experience in universities. It is being explored for personalized and interactive learning experiences, research support, automated grading, and improved student services. The integration of ChatGPT in higher education is seen to reshape and improve the learning landscape, offering a glimpse into a future where higher education is more adaptable, interactive, and student-centered. The use of ChatGPT in higher education is a subject of ongoing evaluation and discussion, with a focus on ensuring its ethical and effective integration onto campuses.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/higher-education-global-market-report

Key Segments -

The higher education market covered in this report is segmented -

1) By Component: Platform, Services
2) By Student Served: Junior High School, Post Graduate, Corporate, Under Graduate, High School
3) By Revenue Source: Tuition Fees, Grants, Contracts, And Gifts, Investment Returns
4) By Course Type: Arts, Economics, Engineering, Law, Science
5) By End User: State Universities, Community Colleges, Private Colleges

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.