US Higher Education Market Size Likely to Surpass at a CAGR of 13.24% By 2034

The CMI Team’s most recent market research predicts that from 2024 to 2033, the US higher education market will grow at a CAGR of 13.24%. In 2024, the market size is projected to reach a valuation of USD 218.27 Billion. By 2033, the valuation is anticipated to reach USD 668.33 Billion.

US Higher Education Market: Growth Factors and Dynamics

The Higher Education Market Presents Significant Growth Opportunities Due to Several Factors

• Increasing Demand for High-Quality Education: Now there is a gradual increase in demand on distinct high quality educational programmes for providing learners with effecting teaching, top-notch research practice and improved learning environment. Students, educators, and investors seek high quality higher education institutions; their usage and creation are promoted.

• Rise in Online and Hybrid Learning Models: The trends of turn to net-based and blended classroom learning contribute to the practical concerns of flexibility and openness of education. Combining course delivery with web-based technologies for learning management system has enhanced institutions’ enrolment and learners’ engagement.

• Technological Advancements: Upgrade still goes on in educational technology which can be seen in the e-learning system, the analytical platform with artificial intelligence, virtual training solutions etc all which make higher learning to mature in quality and marketability. These innovations interest students as well as educators, giving students themselves better, individualized tutorials.

• Expansion of Global Education Markets: Demand for the higher education is fuelled by the trend in international education and increase in the transnational education providers. The desire for easy and flexible means through which learners can study at universities beyond their home countries enlarges market coverage of renowned universities and colleges.

• Growth in Health and Wellness Trends: Higher education supportive environments are fuelled by the growing understanding of the effect that mental health and wellness have on learning outcomes. Campus facilities providing for comprehensive mental health services as well as strong wellness initiatives benefit a growing population of student-consumers.

• Increase in Lifelong Learning and Professional Development: The increased demand for continuing learning and professional improvements leads to new possibilities for HEIs. People spend money on these goals to gain valuable educational experience which will help them to be successful in further employment.

• Urbanization and Economic Growth: This is because urbanization as well as economics growth specially in the developing countries increases the demand for higher education. These regions have educated populace which is registering high enrolment into higher education institutions to meet the new emerging market demands in growing economy and diversified urban human endeavours.

• Increasing Investments in Education and Research: Higher Investment in the education and research sector by governments, private companies, and NGOs increase the market network of the higher education institutions. This part of the economy is essential in contributing to global market development while creating new educational programs or research projects.

US Higher Education Market: New Partnership

• In July 2024, Atlanta, United States based Spelman College, an education of women of African descent, has signed an agreement establishing a framework for collaboration with three Lagos-based universities University of Lagos, Lagos State University, and Pan-Atlantic University. This agreement, signed in recognition of the 50-year Sister Cities partnership between Lagos and Atlanta, aims to deepen U.S Nigeria educational ties and support teaching, research, and student and faculty exchanges, with a focus on women’s education; science, technology, engineering, and mathematics (STEM); and the creative industries.

• In May 2024, the US signed a historic Framework for Cooperation with the Government of Kenya to support new partnerships between universities and industry to drive innovation, research, and job growth in STEM-related fields in Kenya and globally. USAID Counselor Clinton White signed the Enhancing Science, Technology, Engineering, and Math (STEM) Education for Economic Development Framework for Cooperation alongside Kenyan Prime Cabinet Secretary Wycliffe Musalia Mudavadi as part of Kenyan President William Ruto’s State Visit to the US. The signing took place at Spelman College in Atlanta, where representatives of the U.S. and Kenyan governments were gathered to discuss investments in higher education, partnerships in STEM education at the post-high school level, and how science technology, engineering, and math education can contribute to Kenya’s economic growth.

• In June 2024, A Norwegian vision, transforming higher education with VECOIL partnerships As Norway invests in higher education and initiatives like VECOIL, it moves closer to its goal of having 50% of higher education students participate in study abroad programs by 2030. In Norway’s enchanting fjords and endless summer daylight, a gathering of educators takes place at the Western Norway University of Applied Sciences in Bergen.

Report Scope

US Higher Education Market: COVID-19 Analysis

The higher education sector has a lot to gain and lose due to the COVID-19 pandemic – perhaps more than any other sector. International trade in education and student mobility have been perhaps the most impacted. Restrictions on movement and delays in achieving required visas have paved the way for a reduction in cross-country enrollment, an income affectation for many such entities.

Decreases in demand did come about as well, as learning from home became the most practical approach, lessening the requirement for physical amenities as shelter and food provisions. There were regulatory bottlenecks with alterations in institutional accreditations and the structuring of costs of providing financial assistance and risks related to health safety measures and attention deficiency.

In return, institutions began responding in turn remote teaching was incorporated; administrative functions were retrieved by means of digitalization. Such changes will sometimes help colleges stay in the market without compromising the lobbying of enrollment recruiting system and data management.

Increased concern regarding sustainability has furthermore initiated eco-campus and green initiatives. In conclusion, the pandemic has reshaped the higher education market, encouraging institutions to innovate and adapt in the face of both immediate disruptions and long-term shifts in student and market needs.

List of the prominent players in the US Higher Education Market:

• Massachusetts Institute of Technology (MIT)
• Stanford University
• Harvard University
• California Institute of Technology (Caltech)
• University of Chicago
• Princeton University
• Columbia University
• University of Pennsylvania
• Yale University
• University of California, Berkeley (UC Berkeley)
• University of California Los Angeles (UCLA)
• University of Michigan Ann Arbor
• Johns Hopkins University
• Northwestern University
• New York University (NYU)
• Others

The US Higher Education Market is segmented as follows:

By Institution Type

• Public Universities
• Private Universities
• Community Colleges
• For-Profit Institutions

By Program Type

• Undergraduate Programs
• Graduate Programs
• Certificate and Diploma Programs
• Continuing Education and Professional Development

By Mode of Delivery

• Traditional Classroom-Based Learning
• Online Learning
• Hybrid Learning
• MOOCs (Massive Open Online Courses)