Higher Education Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : June 2023

Format :Pdf Ppt Xls

Report ID:KR38

Author : Saket A.

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Base Year


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Forecast Year


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Historical Years


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Market Value (2022)

USD 506.54 Billion

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Forecasted Value (2030)

USD 860.11 Billion

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CAGR (2023 - 2030)


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Fastest Growing Region (2023 - 2030)


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Largest Region


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By Application

Undergraduate, Master’s, PhD

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By Institution Type

State (Public) Institutions, Private (Non-public) Institutions

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By Mode of Education

Offline Education, Online Education

Market Perspective

The global Higher Education Market was valued at USD 506.54 billion in 2022 and is projected to reach USD 860.11 billion by 2030, growing at a CAGR of 7.03% from 2023 to 2030.

In recent years, the higher education market has grown rapidly, attracting private and public institutions, education and testing companies as well as ministries of education and government agencies. With an increased focus on incorporating technology, there is a growing use of education technology that allows for greater interaction between students and educators. In this competitive market, both public and private higher education institutions are targeting international students and faculty, while also collaborating with international universities and business partners to gain access to additional research resources, associations, and funding opportunities.

Analyst’s Review

The global rise in student enrollments is contributing to a favorable market outlook. Consequently, enterprises and organizations are increasingly prioritizing the hiring of individuals who possess specialized higher education degrees to keep up with the rapid pace of technological advancements. These factors are estimated to further grow the market during 2023-2030.

Market Definition

Post-secondary education also referred to as higher education or tertiary education, is a voluntary educational pursuit that takes place after secondary education. This stage encompasses all forms of post-secondary instruction, training, and research guidance authorized as institutions of higher education by state governments. Educational offerings in this arena are delivered through academies, universities, institutes of technology, colleges, workshops & seminars, trade schools, and career colleges that confer degrees.

Higher education is categorized into several distinct divisions such as undergraduate, professional, master’s, and PhD. Undergraduate education comprises an associate's or bachelor's degree for students who have typically completed 120 credit hours or 3 years of graduation in some countries. Professional education prepares students for a specific profession such as law, medicine, or engineering. Master’s education results in the awarding of a master's or doctoral degree to students who have completed advanced coursework, exams, and original research.

Market Dynamics

The increasing importance of education in global and country-level economic development along with social education has encouraged the implementation of favorable educational policies and programs to reach out to the remotest parts and provide more than primary education. Distance learning higher education is estimated to set an uptrend throughout the forecast period. Government initiatives such as education DTH channels are placed to promote the importance and provide free education. For instance, SWAYAM PRABHA is a program launched by the government of India that offers education via satellite channels. Although, the channel has been launched in previous years, every year the Ministry of Education adds productive content to provide educational insights as per the latest requirements.

Adoption of advancing technology in educational institutions would create significant lucrative opportunities for market expansion. In recent years, technology has supported the growth of the education system in terms of online lectures, graduation courses, and other educational material. Internet penetration, increasing utility, and demand for smartphones and laptops are observed to be the key factors that would propel the higher education market expansion during 2023-2030. Such technologies and platforms are used to provide theoretical and practical education to achieve the desired outcome.

The higher education market is challenged by underdeveloped or developing countries due to low per capita income, and academic standards of institutions in the region or the country. Private institutions provide significant offers, however, the penetration rate of private institutions in developing countries is lesser than that in developed countries. Lacking the potential presence of multiple institutions is a factor challenging market growth.

Segmentation Analysis

The global higher education market is segmented based on application, institution type, and geography.

Based on application, the market is further categorized into undergraduate, Master’s, and Ph.D. In 2022, undergraduate degree education dominated the segment in terms of revenue, accounting for 56% of global revenue. It is attributed to the range of academic years post-school education and prior to a master’s degree. It is anticipated that the number of undergraduate students would reach close to 300 million throughout the forecast period. The growth rate of Ph.D. is also anticipated to increase steadily during 2023-2030.

Based on product, the market is further categorized into state institutions (Public) and private (Non-Public) institutions. In 2022, state or public institutions dominated the segment in terms of revenue, which is majorly due to the conventional approaches of students and the quality of education offered. However, during 2023-2030 private or non-public institutions are estimated to observe the fastest growth owing to increasing investments and significant expansion of educational institutions in multiple locations.

Based on the mode of education, the market is further categorized into offline and online education. In 2022, offline education held the largest share in terms of revenue and enrolments. Factors supporting the dominance of the offline sub-segment are conventional means of education and student preferences. However, throughout the forecast period, it is anticipated that the online education segment would observe the highest growth rate owing to internet penetration, advancing technology, and developing trends in online education. Online education offers students to record and download the modules which are considered among the prominent feature that guides students in re-visiting education at any point in time.

Geography Analysis

Based on regional analysis, the global higher education market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Higher Education Market Size & Share, By Region, 2023-2030

In 2022, Asia Pacific held the largest regional share in terms of revenue, attributing more than USD 231.49 billion. Asia Pacific is anticipated to portray the highest growth rate during 2023-2030. The key factor driving the higher education market growth in the region is increasing awareness regarding the importance of higher education, especially in the developing countries. This factor is propelled owing to encouraging policies implied by governments for the academic, economic, and social development of their citizens. China leads the revenue share in Asia Pacific due to its high population level. India is estimated to observe significant growth during 2023-2030 with a rate exceeding 8%.

Europe is estimated to grow steadily throughout the forecast period. In 2022, Europe accounted for over 20% of the global revenue. Steady growth is subject to slow population growth and the highest literacy rate in the world. Many countries such as Spain, Germany, the U.K., Russia, and others have a literacy rate of over 99%. Germany attributed the largest share in terms of revenue in 2022.

Competitive Landscape

The higher education industry study report will provide valuable insight with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. Expansion & investments involve a range of strategic initiatives including investments in R&D activities, new manufacturing facilities, and supply chain optimization. The major players in the market are

  • Brain4ce Education Solutions Pvt. Ltd.,
  • Coursera Inc.,
  • Harvard University,
  • iversity Learning Solutions GmbH,
  • Massachusetts Institute of Technology(MIT),
  • University of Oxford,
  • Simplilearn Solutions,

Key Developments

  • March 2022 (Acquisition) – Brain4ce Education Solutions Private Limited, known as Edureka, was fully acquired by Veranda Learning Solutions at a valuation of over USD 25 million. The motive of the acquisition was to expand the presence of Veranda globally in software education.
  • July 2021 (Acquisition) – A majority share of Simplilearn Solutions was acquired by Blackstone Group for an approximate valuation of USD 250 million. The acquisition would support EdTech’s growth in upcoming years.

The Global Higher Education Market is segmented as:

By Application

  • Undergraduate
  • Master’s
  • PhD

By Institution Type

  • State (Public) Institution
  • Private (Non-Public) Institution

By Mode of Education

  • Offline
  • Online

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global higher education market is projected to reach USD 860.11 billion by 2030, growing at a CAGR of 7.03 % from 2023 to 2030.
The global higher education market was valued at USD 506.54 billion in 2022.
The higher education market is growing rapidly owing to advancements in education technology, along with a rising demand for vocational education & skills training as well as the accessibility to personalized education materials that cater to the unique needs of individual students are the prominent factors driving the market.
Top manufacturers of Higher Education are Brain4ce Education Solutions Pvt. Ltd., Coursera Inc., Harvard University, iversity Learning Solutions GmbH, Massachusetts Institute of Technology (MIT), University of Oxford, Simplilearn Solutions, amongst others.
Asia-Pacific is the fastest growing region with the CAGR of 8.17% in the forecasted period (2023-2030) with the market value forecasted to reach at USD 424.88 billion by 2030
By Application, Undergraduate holds the maximum share in the Higher Education market with the revenue value of USD 517.52 billion by 2030.
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