Higher Education Market Expansion Continues, with Forecast Valuation of $1094.21 Billion by 2029

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Higher Education Market Size Growth Forecast: What to Expect by 2025?
The size of the higher education market has seen robust growth in recent years. The market, which stood at $688.13 billion in 2024, is expected to rise to $748.45 billion in 2025, equating to a compound annual growth rate (CAGR) of 8.8%. Factors such as increasing higher education enrollments, access to knowledge, innovation, research, social mobility, and community development have contributed to the growth during the historic period.

How Will the Higher Education Market Size Evolve and Grow by 2029?
The market size for higher education is projected to experience significant expansion in the coming years. It is predicted to reach a value of $1094.21 billion in 2029, with a compound annual growth rate (CAGR) of 10.0%. The growth during the forecast period could be due to factors such as increased international student mobility, economic mobility, globalization, and the emphasis on critical thinking. Key trends expected during the forecast period encompass advancements in technology, an increase in student enrollment, the swift progression of technology, the advent of online learning and hybrid models, the internationalization of education, and a focus on continual learning.

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What Drivers Are Propelling the Growth of Higher Education Market Forward?
The forward projection of the higher education market's growth is spurred by the expanding global movement of students. The term 'international student mobility' denotes the transfer of individuals across national borders for educational purposes. By offering distinct programs or establishments with unique specialization or renowned reputation, higher education significantly influences international student mobility. For example, during the 2022/23 academic period, as reported by the Institute of International Education Inc., an American student exchange institution, American higher education institutions accommodated more than 1,057,188 international students from over 210 different countries, marking a 12% surge from the past year. Hence, the increasing global movement of students is fueling the expansion of the higher education market.

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What Are the Key Trends Driving Higher Education Market Growth?
Leading entities in the higher education market are harnessing innovative technologies like AI tools to amplify different facets of teaching and learning. AI tool refers to any software or application utilizing artificial intelligence for duties usually needing human intellect such as logical thinking, learning, problem solving, and decision making. For example, in August 2023, OpenAI, an AI research group located in the US, introduced the most powerful iteration of ChatGPT which holds the potential to bring a new wave of enhancement and innovation to university learning. It is being investigated for its ability to provide tailored and interactive learning experiences, research aid, automated grading, and better student services. The incorporation of ChatGPT in higher education is thought to transform and enhance the learning environment, suggesting a possible future where higher education is adaptable, engaging, and student-oriented. The implementation of ChatGPT in higher education is a topic of persistent review and conversation, concentrating on its ethical and effective introduction to the campus.

What Are the Key Segments in the Higher Education Market?
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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Who Are the Key Players Shaping the Higher Education Market's 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

What Geographic Markets Are Powering Growth in the Higher Education Market?
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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