Global Education Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Education Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits. Educational methods include storytelling, discussion, teaching, training, and directed research. Education frequently takes place under the guidance of educators, but learners may also educate themselves. Education can take place in formal or informal settings and any experience that has a formative effect on the way one thinks, feels, or acts may be considered educational.

Market Overview:

The latest research study on the global Education market finds that the global Education market reached a value of USD 5269645.0 million in 2022. It’s expected that the market will achieve USD 7179095.0 million by 2028, exhibiting a CAGR of 5.29% during the forecast period.

Influence of COVID-19 Outbreak on Education Industry Development

The outbreak of the COVID-19 epidemic first caused a health crisis. Many countries have decided to close schools, colleges and universities. This crisis has made the dilemma faced by decision makers between closing schools and keeping schools open more apparent. Many families in the world feel severe short-term interruptions: home schooling not only has a huge impact on the productivity of parents, but also has a huge impact on children's social life and learning.
As of July 27, 2020, approximately 1.725 billion learners have been affected due to school closures due to the epidemic. According to UNICEF’s monitoring, 106 countries have implemented suspensions nationwide, and 55 countries have implemented local suspensions, affecting approximately 98.6% of students worldwide. Due to the outbreak of the COVID-19 epidemic, offline education has been forced to suspend on a large scale worldwide.
With the global spread of COVID-19 and the increasing threat of economic recession, most people focus on the immediate task in front of them—preparing for distance learning and supporting students. Before the epidemic, the education industry had a dominant position in offline business, and the online market was relatively small. The increase in online customers during the epidemic. Online student data has increased significantly over the same period last year. With the cancellation of offline courses, students’ learning needs have not decreased. Online education that breaks through time and space constraints has become the best choice for many parents and students.

Education Market Opportunities

The mechanism that affects the demand for high-quality education and higher education is: anxiety and crisis drive the education expenditure of the huge middle class to continue to increase, which makes the downstream demand of the education industry strong.

Because education plays a vital role in the development of students' intelligence, character, and potential. Limited high-quality educational resources have brought tremendous pressure to those who are going to higher education and employment. Parents will prepare their children from high school, junior high school, elementary school and even pre-school from top to bottom.

In the United States, the higher the pre-tax income of consumers (above $40,000), the higher the share of education input in their income. The report The Distribution of Middle-income Groups and the Strategic Choices for Expanding Middle-income Groups issued by the Chinese Academy of Social Sciences mentioned that there are about 600 million people in China who belong to middle-income and above-income families, and consumption upgrades will further increase the willingness to pay for education. The rise of the middle class has driven the development of the education industry.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Pearson, Laureate Education, New Oriental, Tomorrow Advancing Life and Bright Horizons Family Solutions are the five key players in the global Education market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Education market in the past 5 years.

Pearson Education is a British-owned education publishing and assessment service to schools and corporations, as well for students directly. Pearson owns educational media brands including Addison–Wesley, Peachpit, Prentice Hall, eCollege, Longman, Scott Foresman, and others. Pearson is part of Pearson plc, which formerly owned the Financial Times. It was created in July 1998 when Pearson plc purchased the education division of Simon & Schuster (including Prentice Hall and Allyn & Bacon) from Viacom and merged it with its own education division, Addison-Wesley Longman, to form Pearson Education. Pearson Education was rebranded to Pearson in 2011 and split into an International and a North American division.

Laureate Education, Inc. is the largest global network of degree-granting higher education institutions, with more than one million students enrolled across nearly 70 institutions in 23 countries at campuses and online. Laureate offers high-quality undergraduate, graduate, and specialized degree programs in a wide range of academic disciplines that provide attractive employment prospects.

Segmentation Overview:

Among different product types, Interactive Displays segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Post-Secondary segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Education market covered in Chapter 3:

VIPKid
NIIT Limited
Ellucian Company
Coursera
McGraw-Hill Education
Bright Horizons Family Solutions
Smart Technologies
Chegg
Pluralsight
Age of Learning, Inc
Desire2Learn
Pearson
New Oriental
Udemy
Blackboard Inc.
Tomorrow Advancing Life
Laureate Education
Promethean
Byjus
Yuanfudao
Strategic Education
2U (TWOU), Inc.
Grand Canyon Education, Inc.
GSX Techedu Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Education market from 2018 to 2029 is primarily split into:

Interactive White Boards
Interactive Displays
Interactive Tables
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Education market from 2018 to 2029 covers:

Pre-K
K-12
Post-Secondary
Corporate Training

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)