Global Higher Education Market Projected to Grow at 10.1% CAGR, Reaching $1107.81 Billion by 2029

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What Will the Higher Education Industry Market Size Be by 2025?
The size of the higher education market has exhibited robust expansion over the past few years. It is projected to rise from $688.13 billion in 2024 to $754.13 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.6%. The growth during the historic period was spurred by factors such as an increase in higher education enrollments, improved access to knowledge, advancements in innovation and research, enhanced social mobility, and community development.

What's the Long-Term Growth Forecast for the Higher Education Market Size Through 2029?
The size of the higher education market is anticipated to experience a swift expansion in the coming years. The projection is a growth to $1107.81 billion in 2029 with a compound annual growth rate (CAGR) of 10.1%. This growth, within the forecast period, can be linked to factors such as the increase in student mobility internationally, economic advancement, globalization, and the development of critical thinking skills. Upcoming trends within this period comprise infrastructural developments in technology, a surge in student registration, rapid technological progress, blended learning models and online learning, globalization in the education sector, and a focus on continuous learning throughout life.

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What Are the Key Growth Drivers Fueling the Higher Education Market Expansion?
The expansion of the higher education market is set to be driven by the rise in international student mobility. This term pertains to the crossing of international borders for educational pursuits. Higher education is a key player in international student mobility as it draws in individuals with its unique programs, specializations, and high-status institutions. For instance, the Institute of International Education Inc., an American exchange program, reported a jump of 12% in their international student attendance during the 2022/23 academic year, compared to theprevious year, with over 1,057,188 students from over 210 countries. These figures underline how international student mobility serves as a catalyst for the higher education market's growth.

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What Are the Key Trends Driving Higher Education Market Growth?
Leading companies in the higher education sector are creating cutting-edge technologies, such as AI tools, to upgrade various elements of education and learning. AI tools refer to any software or program that leverages artificial intelligence to accomplish tasks generally requiring human intellect, including reasoning, learning, problem-solving, and decision-making. For example, in August 2023, OpenAI, an American artificial intelligence research group, unveiled the most robust version of ChatGPT, a transformative tool for enhancing the educational experience at universities. Its potential uses involve customized and dynamic learning experiences, research backing, automated marking, and optimizing student services. Incorporating ChatGPT into higher education is perceived to modify and upgrade the educational environment, indicating a future in which higher education is more flexible, interactive, and student-oriented. The application of ChatGPT in higher education is the theme of current assessment and debate, focusing on its ethical and successful deployment on campuses.

How Is the Higher Education Market Segmented?
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

Subsegments:
1) By Platform: Learning Management Systems (LMS), Student Information Systems (SIS), Online Course Platforms, Assessment And Testing Platforms, Collaboration And Communication Tools
2) By Services: Consulting Services, Implementation And Integration Services, Training And Support Services, Content Development Services, Analytics And Reporting Services

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Which Companies Are Leading the Charge in Higher Education Market Innovation?
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

Which Regions Are Leading the Global Higher Education Market in Revenue?
North America was the largest region in the higher education market in 2024. 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.

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