Higher Education Market Size, Key Players, Demand And Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global Higher Education Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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

Higher Education Market 2024 Key Insights:

• The Major Key Players of the Market:

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 is expected to grow to Higher Education Market 2024 Key Insights:
• Role Of Growing International Student Mobility In Fueling Higher Education Market Expansion
• Impact Of AI Tools On Higher Education
• North America was the largest region in the higher education market in 2023.

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