Colleges, Universities and Professional Schools Global Market Opportunities and Strategies to 2033

This report describes and explains the colleges, universities and professional schools market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global colleges, universities and professional schools market reached a value of nearly $1.21 trillion in 2023.

Growth in the historic period resulted from increased government funding, globalization of higher education and government initiatives for digital learning. Factors that negatively affected growth in the historic period include the lack of accredited degrees from universities and new alternatives to college education.

Going forward, strong economic growth in emerging markets, increasing undergraduate student enrollment, growth in demand for online and hybrid learning programs and increase in global population and urbanization will drive the market. Factors that could hinder the growth of the colleges, universities and professional schools market in the future include rising operating costs.

The colleges, universities and professional schools market is segmented by type into technical and trade schools, junior colleges, higher education colleges and universities, business and secretarial schools, computer training and professional and management development training. The higher education colleges and universities market was the largest segment of the colleges, universities and professional schools market segmented by type, accounting for 89.7% or $1.09 trillion of the total in 2023. Going forward, the computer training segment is expected to be the fastest growing segment in the colleges, universities and professional schools market segmented by type, at a CAGR of 7.4% during 2023-2028.

The colleges, universities and professional schools market is segmented by type of expenditure into public and private. The public market was the largest segment of the colleges, universities and professional schools market segmented by type of expenditure, accounting for 58.8% or $716.88 billion of the total in 2023. Going forward, the private segment is expected to be the fastest growing segment in the colleges, universities and professional schools market segmented by type of expenditure, at a CAGR of 7.6% during 2023-2028.

The colleges, universities and professional schools market is segmented by mode into online and offline. The offline market was the largest segment of the colleges, universities and professional schools market segmented by mode, accounting for 68.2% or $831.18 billion of the total in 2023. Going forward, the online segment is expected to be the fastest growing segment in the colleges, universities and professional schools market segmented by mode, at a CAGR of 9.1% during 2023-2028.

Western Europe was the largest region in the colleges, universities and professional schools market, accounting for 32.1% or $391.28 billion of the total in 2023. It was followed by Asia-Pacific, North America and then the other regions. Going forward, the fastest-growing regions in the colleges, universities and professional schools market will be Africa and the Middle East, where growth will be at CAGRs of 15.4% and 12.9% respectively. These will be followed by Eastern Europe and South America, where the markets are expected to grow at CAGRs of 9.5% and 9.5% respectively.

The global colleges, universities and professional schools market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 6.59% of the total market in 2022. University of Pennsylvania was the largest competitor with a 1.27% share of the market, followed by University of Michigan with 0.84%, Stanford University with 0.78%, John Hopkins University with 0.72%, Columbia University with 0.55%, University of Washington with 0.52%, Harvard University with 0.51%, University of Chicago with 0.50%, Cornell University with 0.48% and Yale University with 0.42%.

The top opportunities in the colleges, universities and professional schools market segmented by type will arise in the higher education colleges and universities segment, which will gain $443.32 billion of global annual sales by 2028. The top opportunities in the colleges, universities and professional schools market by type of expenditure will arise in the public segment, which will gain $265.65 billion of global annual sales by 2028. The top opportunities in the colleges, universities and professional schools market by mode will arise in the offline segment, which will gain $278.0 billion of global annual sales by 2028. The colleges, universities and professional schools market size will gain the most in China at $77.74 billion.

Market-trend-based strategies for the colleges, universities and professional schools market include focus on online and hybrid learning in higher education to provide flexibility and accessibility, integration of metaverse technology to enhance engagement, collaboration and immersive learning experiences, introduction of learning management systems to enhance the flexibility and accessibility of education, use of artificial intelligence in education and research institutions to drive innovation, strategic collaborations and partnerships among market players and focus on expansion of overseas university campuses to bring diversity.

Player-adopted strategies in the colleges, universities and professional schools market include focus on integration of immersive learning experiences and emerging technologies by launching certification program, offering a variety of pathways for learners through the launch of new online programs, enhancing operational capabilities by developing and implementing a multidisciplinary research institute in collaboration with various stakeholders, enhancing capabilities through launch of specialized online courses to meet emerging industry demands and strengthening business operations through offering new courses catering to professionals seeking interdisciplinary skills.

To take advantage of the opportunities, the analyst recommends the colleges, universities and professional schools companies to focus on online and hybrid learning programs, focus on integrating metaverse technology for enhanced learning and admissions, focus on adopting learning management systems, focus on ai integration for enhanced learning, focus on computer training segment, expand in emerging markets, continue to focus on developed markets, focus on expanding digital and international distribution channels, focus on strategic partnerships, focus on competitive and value-based pricing strategies, focus on digital marketing and focus on enhancing student and staff engagement.