(MENAFN- EIN Presswire) EINPresswire/ -- Higher Education Market Growth Forecast: What To Expect By 2025?
In recent times, there has been a significant expansion in the size of the higher education market. Expected to increase from $688.13 billion in 2024 to $748.45 billion in 2025, it is set to experience a compound annual growth rate (CAGR) of 8.8%. This past growth can be traced back to factors such as heightened enrollment rates in higher education, greater accessibility to information, revolutionary research, enhanced social mobility, and community development.

Strong growth is expected in the higher education market size over the next few years, with it predicted to reach $1094.21 billion by 2029. This reflects a compound annual growth rate (CAGR) of 10.0%. Factors such as increasing international student mobility, economic mobility, the impact of globalization, and the importance of critical thinking drive this growth anticipated during the forecast period. Additionally, the forecast period will see major trends including technology advancements, increased student enrolment, fast-paced progress in technology, online and hybrid learning models, internationalization of education, and a focus on lifelong learning.

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What Are Key Factors Driving The Demand In The Global Higher Education Market?
The surge in international student mobility is poised to fuel the expansion of the higher education market in the future. The term international student mobility is defined as the migration of individuals beyond national borders for the sake of education. Higher education is integral to international student mobility as it draws in specific programs or institutions that provide distinctive specializations or possess a laudable reputation. For example, in November 2023, as per the data shared by the Institute of International Education Inc., a US-based student exchange agency, during the academic year of 2022/23, American higher education institutions hosted over 1,057,188 international students hailing from over 210 nations. This was marked by a 12% escalation from the last year. Thus, the escalating international student mobility is stimulating the expansion of the higher education market.

Who Are The Leading Players In The Higher Education Market?
Major players in the Higher Education include:
. 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

What Are Some Emerging Trends In The Higher Education Market?
Leading firms in the higher education sector are incorporating innovative solutions like AI tools to improve teaching and learning aspects. AI tools denote software or applications which utilize artificial intelligence to carry out tasks that customarily need human intelligence, including reasoning, learning, problem-solving, and decision-making abilities. For example, OpenAI, a prominent American AI research organization, introduced the most advanced variant of ChatGPT in August 2023. This tool can potentially transform and enhance the learning atmosphere in universities. It is currently being tested for personalized interactive learning experiences, research assistance, automated grading, and better student services. The incorporation of ChatGPT in higher education is perceived to modify and enrich the educational environment, presenting a preview of a future where higher education is more flexible, engaging, and student-oriented. The application of ChatGPT in higher education is still a matter of constant evaluation and debate, focusing on its ethical and effective implementation on university and college campuses.

Analysis Of Major Segments Driving The Higher Education Market Growth
The higher education market covered in this report is segmented –
1) By Component: Platform, Services
2) By Student Served: Junior High School, Post Graduate, Corporate, Under Graduate, High School
3) By Revenue Source: Tuition Fees, Grants, Contracts, And Gifts, Investment Returns
4) By Course Type: Arts, Economics, Engineering, Law, Science
5) By End User: State Universities, Community Colleges, Private Colleges

Subsegments:
1) By Platform: Learning Management Systems (LMS), Student Information Systems (SIS), Online Course Platforms, Assessment And Testing Platforms, Collaboration And Communication Tools
2) By Services: Consulting Services, Implementation And Integration Services, Training And Support Services, Content Development Services, Analytics And Reporting Services

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Which Region Is Expected To Lead The Higher Education Market By 2025?
In 2024, North America led the higher education market as the most significant region. The fastest projected growth is anticipated to occur in the Asia-Pacific region within the forecast period. The report on the higher education market encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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