The Global Higher Education Services Market is Projected to Reach US$1.4 Trillion by 2020

Rising Student Enrolment Drives the Global Higher Education Services Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Higher Education Services. The global Higher Education Services market is projected to reach US$1.4 trillion by 2020, driven by rising student enrolment, globalization of educational services, and robust demand for educated workforce in emerging economies.

The global market for higher education services is being driven by the burgeoning global population of students with the eligibility as well as the capability to pursue higher education. Students in the age group of 18-22 years represent the largest market with such students primarily enrolling into colleges and universities in order to develop skills for employment. Globalization of higher education services is aiding in mobilizing the international student and faculty community, particularly in OECD countries, thereby paving the way for the expansion of educational institutions. The number of students traveling abroad for higher education from countries such as Vietnam, China, and Brazil continues to grow, driven by rising per-capita income, increased access to funding, increasing ease of securing admission to foreign institutions, as well as shortcomings of domestic educational facilities. Business management and engineering are amongst the most popular courses for foreign students with demand growing for both undergraduate and graduate courses.

While foreign student enrolment remains a major income generator, top-ranked universities and colleges in developed countries are stepping up focus on domestic enrolment owing to the increasing number of competing institutions in developing countries. Higher Education Institutions (HEIs) across the globe are increasingly integrating new software and hardware technologies in learning systems in order to support changing curriculum and multi-modal training, enhance student engagement and performance, streamline the cost of services, and unlock new growth avenues. The potential for Software-as-a-Service (SAAS) and cloud based learning platforms is tremendous, given the increasing competition and budget constraints of educational institutions. The shift towards e-education has also been fostered by the advent of new technologies and products, such as the tablet PCs, e-readers, which are fostering the use of digital learning platforms. Vocational education, also referred to as Career and Technical Education or CTE, is growing in prominence due to the increasing need for technically skilled workforce.

As stated by the new market research report on Higher Education Services, the United States represents the single largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 7.4% over the analysis period. Growth in the region is driven by increasing public awareness and emphasis on the importance of higher education as well as growing demand for educated workforce to support the rapidly-growing economies.

Key players covered in the report include Apollo Group Inc., BBP University, CL Educate Ltd., Columbia University, Daekyo Co. Ltd., DeVry Inc., Everonn Education Ltd., Fudan University, Harvard University, ITT Education Services Inc., JEI Learning Centers, Kaplan Inc., Kyoto University, Laureate Education Inc., Massachusetts Institute of Technology, Navitas Limited, New Oriental Education & Technology Group, Oxford University, Pearson plc, Peking University, Pierre and Marie Curie University, Princeton University, Stanford University, The Princeton Review Inc., Tutor.com Inc., University of Buckingham, University of Cambridge, University of Chicago, University of Munich, University of São Paulo, University of Tokyo, Washington University, and Yale University, among others.

The research report titled “Higher Education Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc. provides a comprehensive review of current market trends, key growth drivers, market restraints, acquisitions, partnerships, service launches, and other strategic industry activities of major global and regional players. Market estimates and forecasts are provided for major geographic regions including the US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World.