Colleges, Universities, and Professional Schools Market: Navigating Growth, Projected to Reach $1,280.45 Billion by 2023
The Business Research Company’s Colleges, Universities, And Professional Schools Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LONDON, GREATER LONDON, UK, December 5, 2023 /EINPresswire.com/ — The global landscape of colleges, universities, and professional schools market is intricately segmented, reflecting the diverse facets of education.
Market Size: A Progressive Academic Odyssey
The globalcolleges, universities, and professional schools market showcased robust growth, ascending from $1,199.45 billion in 2022 to $1,280.45 billion in 2023. This remarkable journey is underscored by a commendable compound annual growth rate (CAGR) of 6.8%. Despite challenges posed by the Russia-Ukraine war and the lingering impacts of the COVID-19 pandemic, the market is poised to further burgeon, reaching $1,595.9 billion by 2027 at a CAGR of 5.7%.
Growth Driver: Surge in Undergraduate Student Enrollment
The driving force behind this upward trajectory is the anticipated increase in undergraduate student enrollment. Referred to as undergraduates, these students pursuing their first degree at colleges or universities experienced a decline in enrollment during the COVID-19 pandemic. However, there has been a notable rebound since 2020. For instance, data from The National Center for Education Statistics (NCES) in the U.S. projects an 8% increase in total undergraduate enrollment, from 15.9 million to 17.1 million students between 2020 and 2030. This surge is expected to propel the growth of the colleges, universities, and professional schools market.
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Major Players: Shaping Educational Horizons
Key companies in colleges, universities, and professional schools market such as 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 are instrumental in shaping the academic landscape.
Global Expansion: Branch Campuses and Collaborations
Leading universities in the U.S. and Europe are extending their influence by setting up branch campuses or collaborating with local institutions, particularly in emerging colleges, universities, and professional schools market in Asia and the Middle East. This trend is driven by the high demand for courses from these regions, highlighting the quality of education offered by these institutions. Notably, the University of Nottingham has established two branch campuses, one in Malaysia with over 4,500 students and the other in China with over 7,000 students.
COVID-19 Impact: Resilience in the Face of Challenges
The COVID-19 pandemic posed challenges to the colleges, universities, and professional schools market, disrupting supply chains and leading to a decline in enrollment. However, the industry is showing resilience and is expected to recover from the impact of this “black swan” event, which is not indicative of ongoing weaknesses in the market or the global economy.
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
Regional Dynamics: Western Europe Leading the Academic Charge
In 2022, Western Europe emerged as the largest region in the colleges, universities, and professional schools market, exemplifying its prominence in the global academic landscape. Following closely, Asia-Pacific secured its position as the second-largest region. The comprehensive market analysis covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Colleges, Universities, And Professional Schools Global Market Report 2023from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheColleges, Universities, And Professional Schools Global Market Report 2023byThe Business Research Company is the most comprehensive report that provides insights on colleges, universities, and professional schools market size, colleges, universities, and professional schools market drivers and colleges, universities, and professional schools market trends, colleges, universities, and professional schools market major players, competitors’ revenues, colleges, universities, and professional schools market positioning, and market growth across geographies.The colleges, universities, and professional schools market report helps you gain in-depth insights oncolleges, universities, and professional schools market opportunities and colleges, universities, and professional schools market strategies. Companies can leverage the data in the colleges, universities, and professional schools market report and tap into segments with the highest growth potential.
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