The Educational Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Educational Services Global Market Report 2024, The educational services market size has grown strongly in recent years. It will grow from $3438.78 billion in 2023 to $3707.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to population growth, government funding, globalization, demographic trends, economic conditions, education policies.
The educational services market size is expected to see strong growth in the next few years. It will grow to $4980.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to online and remote learning, personalized learning, workforce skills gap, lifelong learning, global collaborations. Major trends in the forecast period include microlearning and bite-sized content, corporate training and upskilling, ai and personalized learning paths, collaboration with industry and employers, alternative credentials and digital badges.
The growing number of higher education enrollments is expected to propel the growth of the educational services market going forward. Higher education enrollment refers to the process of signing up for and attending a college or university program. It is the act of registering for specific classes or co-curricular activities at a particular school. For instance, in January 2022, according to the Higher Education Statistics Agency (HESA), a UK-based official agency that collects and publishes data about higher education in the country, 2,751,865 students were enrolled in higher education overall in 2020–21, an increase of 9% from 2019–20. While the number of first-year degree applicants increased by 8%, the number of first-year postgraduate students increased by 16%. First-year enrollment increased by 4% for non-UK students and by 13% for students from the UK. First-year enrollment from India increased by 27%. Therefore, the growing number of higher education enrollments is driving the growth of the educational services market.
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The educational services market covered in this report is segmented –
1) By Type: Other Educational Services, Colleges, Universities, And Professional Schools, Elementary And Secondary Schools
2) By Type of Expenditure: Public, Private
3) By Mode: Online, Offline
Subsegments Covered: Fine Arts Schools, Sports And Recreation Instruction, Language Schools, Exam Preparation And Tutoring, All Other Miscellaneous Schools And Instruction, Educational Support Services, Junior Colleges, Higher Education Colleges And Universities, Business and Secretarial Schools, Computer Training, Professional and Management Development Training, Technical and Trade Schools, Primary School, Middle School, Secondary School
Major companies operating in the educational services market are focused on introducing technology platforms, such as education technology platforms to sustain their position in the market. Education technology platforms, or EdTech, are technology-based tools and resources designed to enhance teaching and learning experiences. These platforms are used to facilitate and enhance learning by integrating technology into the educational sector. For instance, in July 2021, Athena Global Technologies, an India-based information technology company specializing in software development services, launched Tutoroot, an educational technology platform and training services for K–12 students, and offered a free certificate program on virtual teaching for teachers. Tutoroot Technologies has developed an in-house ‘LEARN’ personalized platform that provides access to live interactive classes, adaptive assessments, live simulations, subject demo videos, and courseware for students preparing for various competitive exams.
The educational services market report table of contents includes:
1. Executive Summary
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