The colleges refer to postsecondary educational institutions that provide education beyond the 12th grade level in various programs for a graduate level degree. Universities refer to educational institutions that provide a broad range of academic disciplines under undergraduate and postgraduate programs for graduate level and advanced degrees. Professional schools refer to institutions that provide education in highly specialized professional disciplines and grant degrees at baccalaureate or graduate levels.
The main types of colleges, universities, and professional schools are technical and trade schools, junior colleges, higher education colleges, and universities, business and secretarial schools, computer training, and professional and management development training. Business and secretarial schools are institutions that specialize in instructing office procedures, secretarial and stenographic skills, as well as basic computer skills, word processing, spreadsheets, and desktop publishing. The various expenditure types including public and private are offered through online and offline modes.
The global colleges, universities, and professional schools market is segmented -
1) By Type: Technical and Trade Schools, Junior Colleges, Higher Education Colleges And Universities, Business and Secretarial Schools, Computer Training, Professional and Management Development Training
2) By Type of Expenditure: Public, Private
3) By Mode: Online, Offline
Subsegments Covered: Cosmetology and Barber Schools, Flight Training, Apprenticeship Training, Other Technical and Trade Schools
The global colleges, universities, and professional schools market size will grow from $1,199.45 billion in 2022 to $1,280.45 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market size of colleges, universities, and professional schools is expected to grow from $1,595.9 billion in 2027 at a CAGR of 5.7%.
The increase in undergraduate student enrollment is expected to propel the growth of the colleges, universities, and professional schools market. Students studying for their first degree at a college or university are referred to as undergraduates. During the COVID-19 pandemic there was a decrease in the enrollment of students in educational institutes, however, from 2020 onwards there is a rebound in this trend. For instance, according to data from The National Center for Education Statistics (NCES) a US-based body responsible to review and report on education activities internationally in the U.S, the total undergraduate enrollment is projected to increase by 8%, from 15.9 million to 17.1 million students between 2020 and 2030. Therefore, the increase in undergraduate student enrollment is expected to drive the growth of the colleges, universities, and professional schools market going forward.
Major companies in the colleges, universities, and professional schools market include University of California System, University of Pennsylvania, University of Michigan, Stanford University, Harvard University, Columbia University, Cornell University, Yale University, Massachusetts Institute of Technology, and The Texas A&M University System.
Top universities based in the US and Europe are setting up branch campuses or collaborating with the local institutions in the emerging markets, especially in Asia and the Middle East. This phenomenon is being driven by the high demand for courses from these countries due to the quality of education these colleges and universities offer. According to the Cross-Border Education Research Team(C-Bert), an agency that provides information on colleges and universities with a multi-national, there are about 247 international branch campuses around the world. For instance, the University of Nottingham has set up two branch campuses one in Malaysia which has over 4,500 students, and the other in China which has over 7,000 students.
Western Europe was the largest region in the colleges, universities, and professional schools market in 2022. Asia-Pacific was the second-largest region in the colleges, universities, and professional schools market analysis. The regions covered in the colleges, universities, and professional schools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the colleges, universities, and professional schools market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
The colleges, universities, and professional schools market consists of revenues earned by entities that provide educational courses to students by preparing them for careers in specific fields. Colleges, universities, and professional schools entities includes establishments such as colleges, theological seminaries offering baccalaureate or graduate degrees, military academies at college level, universities and professional schools. These establishments may be privately owned and operated for profit or not for profit, or they may be publicly owned and operated. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
The colleges, universities, and professional schools market research report is one of a series of new reports from The Business Research Company that provides colleges, universities, and professional schools market statistics, including colleges, universities, and professional schools industry global market size, regional shares, competitors with colleges, universities, and professional schools market share, detailed colleges, universities, and professional schools market segments, market trends and opportunities, and any further data you may need to thrive in the colleges, universities, and professional schools industry. This college, university, and professional school 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.