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Educational Services Market Growth Forecast 2024-2033: What’s the Expected Rate?

In recent years, the educational services market has seen significant growth. The market is projected to expand from a size of $3438.78 billion in 2023 to $3707.96 billion in 2024, representing a compound annual growth rate (CAGR) of 7.8%. Various factors like population growth, government funding, globalization, demographic shifts, the state of the economy, and education policies have contributed to this growth in the past.

The market size for educational services is predicted to witness robust expansion in the ensuing years. By 2028, it is projected to reach $4980.51 billion, growing at a compound annual growth rate (CAGR) of 7.7%. The forecasted growth can be credited to factors such as online and distance education, tailored learning, the gap in workforce skills, lifelong education, and global partnerships. Key trends for the forecast period encompass microlearning and bite-sized content, corporate training and skills enhancement, integration of AI and personalised learning routes, partnerships with industry and employers, and the rise of alternative qualifications and digital badges.

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What Factors Are Impacting the Growth of the educational services Market?

The spike in higher education enrollments is contributing to the anticipated growth of the educational services market. ‘Higher education enrollment’ refers to the act of signing on for and pursuing a program at a college or university. It could also involve registering for specific courses or co-curricular activities at a certain institution. For instance, the Higher Education Statistics Agency (HESA) of the UK, a recognized agency that gathers and releases data regarding higher education in the country, reported in January 2022 that there were 2,751,865 university-level student enrollments during 2020–21, a rise of 9% from 2019–20. Simultaneously, the volume of first-year degree applicants rose by 8%, while first-year postgraduate students increased by a notable 16%. The figures for first-year non-UK students increased by 4%, with UK students’ numbers rising by 13%. First-year enrollments from India recorded an impressive 27% hike. Therefore, the escalating number of higher education enrollments is bolstering the educational services market’s expansion.

What Are the Fundamental Segments in the Educational Services Market?

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

What Trends Are Shaping the New Direction of the Educational Services Market?

Significant players in the educational services market are concentrating on the implementation of technology such as education technology platforms in order to consolidate their market position. Generally referred to as EdTech, these technology-centric tools and services have been innovated to improve teaching and learning experiences. They integrate technological advancements into education to support and enrich learning. For example, in July 2021, Athena Global Technologies, an India-based software development services company, unveiled Tutoroot, an EdTech and training services platform for K–12 students, along with a complimentary certification course on online teaching for educators. Tutoroot Technologies has constructed an exclusive ‘LEARN’ platform that offers access to real-time interactive classes, adaptive evaluations, live simulations, subject-specific videos, and study materials for students appearing for various competitive examinations.

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Which Regions Are Making a Mark in the Educational Services Market Growth?

Asia-Pacific was the largest region in the educational services market in 2023. Western Europe was the second-largest region in the educational services market. The regions covered in the educational services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Educational Services Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the educational services market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Educational Services Market Include

1. Educational Services Market Executive Summary

2. Educational Services Market Segments

3. Educational Services Market Size And Template Market Growth Rate

4. Key Educational Services Market Trends

5. Major Educational Services Market Drivers

……

25. Key Mergers And Acquisitions In The Educational Services Market

26. Top Educational Services Companies

27. Educational Services Market Opportunities And Strategies

28. Educational Services Market, Conclusions And Recommendations

29. Appendix

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