Higher Education Global Market Report 2024

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 observed in the historical period can be attributed to factors such as the increasing number of enrollments in higher education, improved access to knowledge, emphasis on innovation and research, promotion of social mobility, and contributions to community development.

The higher education market size is expected to see strong growth in the next few years. It will grow to $1.0 trillion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period can be attributed to several factors, including the rise in international student mobility, increased economic mobility, globalization, the emphasis on critical thinking skills, and the continued growth in international student enrollments. Key trends expected during this period encompass technological advancements, a surge in student enrollment, rapid progress in online learning and hybrid models, the globalization of education, and an increased emphasis on lifelong learning.

The expansion of international student mobility is anticipated to drive growth in the higher education market. International student mobility involves individuals crossing borders for educational purposes, contributing to the diversity and global reach of higher education institutions. As of November 2023, data from the Institute of International Education Inc. indicates a significant increase in international student enrollment in American higher education institutions, with over 1,057,188 students from 210 countries during the 2022/23 academic year, marking a 12% rise from the previous year. This trend underscores the pivotal role of international student mobility in shaping the higher education landscape.

Leading companies in the higher education sector are leveraging innovative technologies, including AI tools, to enhance teaching and learning experiences. AI tools harness artificial intelligence capabilities to perform tasks traditionally requiring human intelligence, such as problem-solving and decision-making. For instance, in August 2023, OpenAI introduced an advanced version of ChatGPT, a powerful tool poised to revolutionize the learning environment in universities. ChatGPT holds promise for personalized learning experiences, research assistance, automated grading, and enhanced student services. Its integration into higher education represents a shift towards more adaptable and interactive learning environments, placing greater emphasis on student-centered approaches. While the adoption of ChatGPT in higher education continues to evolve, ongoing evaluation and discussions focus on ensuring its ethical and effective implementation across campuses.

In March 2022, Cengage Group, a leading US-based technology education firm, successfully acquired Infosec for an undisclosed sum. This strategic acquisition strengthens Cengage Group's presence in higher education by venturing into the cybersecurity professional training market, thereby offering top-tier online learning solutions for cybersecurity professionals and other stakeholders, whether employers or direct consumers. Infosec, a reputable US-based cybersecurity education company, perfectly complements Cengage Group's mission to provide quality education in the rapidly evolving field of technology.

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.

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 countries covered in the higher education market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Higher education, also known as post-secondary or tertiary education, refers to the formal learning stage that follows secondary education. It encompasses a diverse range of disciplines and fields of study, equipping students with specialized knowledge and skills for careers in various industries or for further academic research.

The main components of higher education consist of platforms and services. These educational institutions provide services to students at different academic levels, including junior high school, high school, undergraduate, postgraduate, and corporate education. The sources of revenue for higher education institutions include tuition fees, grants, contracts, gifts, and investment returns. These funds are derived from a variety of courses and disciplines such as arts, economics, engineering, law, and science, offered by state universities, community colleges, and private colleges.

The higher education market research report is one of a series of new reports that provides higher education market statistics, including higher education industry global market size, regional shares, competitors with a higher education market share, detailed higher education market segments, market trends and opportunities, and any further data you may need to thrive in the higher education industry. This higher education market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The higher education market includes revenues earned by entities by providing services such as academic programs, student support services, research opportunities, library and information resources, and extracurricular activities. The market value includes the value of related goods sold by the service provider or included within the service offering. The higher education market also includes sales of projectors, laptops, tablets, science labs, and research equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.