Higher Education Market Analysis 2024 - Size, Trends, Share, By Offering And End-Users

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Higher Education Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $1,004.85 billion In 2028 At A CAGR Of 9.9% :

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.

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Higher Education Market Major 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 Driver - 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.

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Prominent Trend - 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.

Higher Education Market Players
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

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Largest And Fastest Growing Region In The Market
North America was the largest region in the higher education market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the higher education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Higher Education Market Report Structure
3. Higher Education Market Trends And Strategies
4. Higher Education Market - Macro Economic Scenario
5. Higher Education Market Size And Growth
…..
27. Higher Education Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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