Educational Services Market 2024-2033: Production Analysis, Segmentation, Key Drivers And Top Players

"The Business Research Company recently released a comprehensive report on the Global Educational Services 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.

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According to The Business Research Company's, The educational services market size has grown strongly in recent years. It will grow from $3438.78 billion in 2023 to $3707.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to population growth, government funding, globalization, demographic trends, economic conditions, education policies.

The educational services market size is expected to see strong growth in the next few years. It will grow to $4980.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to online and remote learning, personalized learning, workforce skills gap, lifelong learning, global collaborations. Major trends in the forecast period include microlearning and bite-sized content, corporate training and upskilling, ai and personalized learning paths, collaboration with industry and employers, alternative credentials and digital badges.

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Market Drivers and Trends:

The growing number of higher education enrollments is expected to propel the growth of the educational services market going forward. Higher education enrollment refers to the process of signing up for and attending a college or university program. It is the act of registering for specific classes or co-curricular activities at a particular school. For instance, in January 2022, according to the Higher Education Statistics Agency (HESA), a UK-based official agency that collects and publishes data about higher education in the country, 2,751,865 students were enrolled in higher education overall in 2020-21, an increase of 9% from 2019-20. While the number of first-year degree applicants increased by 8%, the number of first-year postgraduate students increased by 16%. First-year enrollment increased by 4% for non-UK students and by 13% for students from the UK. First-year enrollment from India increased by 27%. Therefore, the growing number of higher education enrollments is driving the growth of the educational services market.

Major companies operating in the educational services market are focused on introducing technology platforms, such as education technology platforms to sustain their position in the market. Education technology platforms, or EdTech, are technology-based tools and resources designed to enhance teaching and learning experiences. These platforms are used to facilitate and enhance learning by integrating technology into the educational sector. For instance, in July 2021, Athena Global Technologies, an India-based information technology company specializing in software development services, launched Tutoroot, an educational technology platform and training services for K-12 students, and offered a free certificate program on virtual teaching for teachers. Tutoroot Technologies has developed an in-house 'LEARN' personalized platform that provides access to live interactive classes, adaptive assessments, live simulations, subject demo videos, and courseware for students preparing for various competitive exams.

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Major Key Players of the Market:

University of Michigan, Columbia University, Harvard University, Massachusetts Institute of Technology, Yale University, TAL Education Group, New Oriental Education & Technology Group Inc., National American University Holdings Inc., Bright Horizons Family Solutions Inc., K12 Inc., Stride Inc., Laureate Education Inc., 2U Inc., Grand Canyon Education Inc., Chegg Inc., American Public Education Inc., Universal Technical Institute Inc., Universal Technical Institute Inc., Mulpha International Bhd, Adtalem Global Education Inc., The Texas A&M University System, University of California System, University of Pennsylvania, Stanford University, Cornell University, Cambium Learning Group Inc., Career Education Corporation, Capella Education Company, Lincoln Educational Services Corporation, American Education Center Inc., Bridgepoint Education Inc., Education Management Corporation

Educational Services Market 2024 Key Insights:

• The educational services market size is expected to see strong growth in the next few years. It will grow to $4980.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Rising Higher Education Enrollments Drive Educational Services Market Growth
• Education Technology Platforms Drive Innovation In Educational Services Market
• Asia-Pacific was the largest region in the educational services market in 2023

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