Colleges, Universities, And Professional Schools Market Definition And Segments
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 colleges, universities, and professional schools market covered in this report 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
Sub segments: Cosmetology And Barber Schools, Flight Training, Apprenticeship Training, Other Technical And Trade Schools
The colleges, universities, and professional schools market size has grown strongly in recent years. It will grow from $1280.99 billion in 2023 to $1361.12 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased government funding, an increase in the number of private colleges and universities, and government initiatives for digital learning.
The colleges, universities, and professional schools market size is expected to see strong growth in the next few years. It will grow to $1723.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to the focus on the expansion of overseas university campuses, increasing student enrollment, and increasing investments by online educational institutions. Major trends in the forecast period include companies focus on undergoing partnerships, focus on metaverse technology, implementing a learning management system in teaching and learning for an effective education system, and focusing on artificial intelligence (AI) to improve the teaching experience.
Surge In Undergraduate Student Enrolment Is Driving Growth In Higher Education
The increase in undergraduate student enrolment is expected to propel the growth of the colleges, universities, and professional school 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 enrolment of students in educational institutes, however, from 2020 onwards there is a rebound in this trend. For instance, according to data from The National Centre for Education Statistics (NCES) a US-based body responsible for reviewing and reporting on education activities internationally in the U.S, the total undergraduate enrolment 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 enrolment is expected to drive the growth of the colleges, universities, and professional schools market going forward.
Growth Of Online And Remote Learning In Higher Education
Top universities based in the US and Europe are setting up branch campuses or collaborating with local institutions in 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.
Major companies operating in the colleges, universities, and professional schools market report are University of Pennsylvania, University of Michigan, Stanford University, Harvard University, Columbia University, Duke University, University of Chicago, John Hopkins University, Cornell University, Yale University, Peking University (PKU), Tsinghua University, Fudan University, Zhejiang University (ZJU), Shanghai Jiao Tong University (SJTU), Indian Institute of Technology Bombay, Indian Institute of Technology Kanpur, University of Delhi, University of Science and Technology of China (USTC), Nanjing University (NJU), Wuhan University (WHU), Tongji University, Beijing Normal University (BNU), The University of Oxford, University of Cambridge, Heidelberg University, University of Amsterdam, University of Manchester, Charles University, Jagiellonian University, University of Warsaw, Masaryk University, The University of California System, Oracle, SAP, Pontifical Catholic University of Peru, Universidad Peruana Cayetano Heredia, Universidad Nacional Mayor de San Marcos, University of Sao Paulo, UNICAMP - University of Campinas, Federal University of Minas Gerais, University of Buenos Aires, National University of La Plata, Imam Mohamed Bin Saud Islamic University (IMIU), Islamic University at Al-Medina Al-Monawwarah (IU), King Abdul Aziz University (KAU), King Faisal University (KFU), King Saud University, Umm AlQura University (UQU), United Arab Emirates University, Nnamdi Azikiwe University, Bayero University Kano, University Of Ilorin, University Of Jos., Babcock University, University Of Port Harcourt, American University Of Nigeria. Yola, Caleb University, UCT Graduate School of Business (GSB) University of Cape Town, Stellenbosch Business School, UNISA - University of South Africa - Graduate School of Business Leadership (SBL), University of Stellenbosch Business School (USB), Stellenbosch University
Increasing Focus On Introducing Technological Programs In Higher Education To Enhance Learning And Competitiveness
Major companies operating in the colleges, universities, and professional school market are increasing their focus on introducing technological programs to gain a competitive edge in the market. Technological programs in college education refer to the use of technology to facilitate effective learning in higher education. These programs teach students how to utilize technology, including hardware and software, to enhance the learning experience. For instance, in March 2023, InterviewBit Technologies Private Limited, an India-based e-learning platform, and interview preparation website, launched Scaler School of Technology, a 4-year residential UG program in Computer Science. A first-of-its-kind program created by the industry and for the industry to give aspiring engineers the best possible experience in a distinctive work-integrated learning setting. A few noteworthy features are that it offers specializations in cutting-edge, in-demand technologies like data science, machine learning, algorithmic trading, and competitive programming, as well as a 1-year paid industry internship with top tech companies with one-on-one guidance from industry mentors.
Platinum Equity Acquired McGraw Hill
In August 2021, Platinum Equity, a US-based private equity company acquired McGraw Hill for $4.5 billion. The acquisition adds the education and schooling portfolio of McGraw Hill to the arsenal of Platinum Equity to deliver education to the company's portfolio. McGraw Hill is a US-based education company that provides outcome-focused learning solutions to education institutes including middle schools.
Western Europe was the largest region in the colleges, universities, and professional schools market in 2023. Asia-Pacific was the second-largest region in the colleges, universities, and professional schools market. 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, Africa
The countries covered in the colleges, universities, and professional schools market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The colleges, universities, and professional schools market consists of revenues earned by entities by providing educational courses to students by preparing them for careers in specific fields. Colleges, universities, and professional schools entities include establishments such as colleges, theological seminaries offering baccalaureate or graduate degrees, military academies at the 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.