Colleges are education institutions that feature smaller student populations and have more intimate campuses and fewer program offerings than universities. They are separate schools that are usually not located in a university. However, some colleges are part of a university and located on the university campus.
Universities are larger education institutions compared to colleges, which offer both undergraduate and graduate/postgraduate degree programs.
The global colleges, universities and professional schools market was valued at $922,824.3 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Increased Government Funding
During the historic period, the colleges, universities and professional schools market was mainly driven by increased government funding. Funding is a critical component in education for lowering the cost of operating education, institutions, paying teachers' salaries, allowances and pensions, plus purchasing teaching and learning equipment, such as textbooks, laboratories, multimedia and computer equipment. For instance, in April 2022, the government of Japan launched its first JPY 10 trillion ($82 billion) national endowment fund for universities, with plans to create a 'University of Excellence' and aimed at bolstering competition and innovation in Japanese higher education. Further, in October 2022, the government of Australia provided up to $485.5 million funding for 20,000 additional university places for under-represented groups under Australia's Federal Budget 2022. The extra places will be available at 42 higher education institutions, with most places being allocated to education (4,036), followed by health professionals (2,740), nursing (2,600), information technology (2,275) and engineering (1,738). Therefore, increased government funding drove the growth of the colleges, universities and professional schools market.
Focus On Online And Hybrid Learning In Higher Education To Provide Flexibility And Accessibility
Colleges, universities and professional schools are increasingly focusing on online and hybrid learning programs to improve the teaching experience. Online and hybrid learning programs provide flexibility and accessibility, attracting a wider student base, thereby increasing enrollment and tuition revenue. They cater to working professionals and non-traditional students, allowing institutions to diversify demographics and tap into new markets. Adoption of these technologies improves educational delivery and outcomes, enhances institutional competitiveness and innovation in the higher education sector. For example, in February 2024, 2U Inc, a US-based educational technology company, collaborated with the University of Surrey, a UK-based public research university, to launch 15 online master's degrees, with an initial offering of five programs in 2024 and a future expansion to encompass a minimum of 15 master's degrees. This partnership is geared towards delivering a broad spectrum of online educational options to cater to the global demand, focusing on innovation and accessibility in higher education to meet the diverse needs of learners and professionals worldwide. Also, in July 2023, Project University, an affiliate of Project Company developing academic courses with top universities in Brazil, joined the global edX partner network, a US for-profit online education platform, to expand access to education from Brazil's top universities. Project University, as a recent addition to the edX network, is set to introduce a range of programs and courses in collaboration with top universities in Brazil. The initial offering is a Professional Certificate program in Robotic Technology from Universidade Estadual de Maringa (UEM), currently available for enrollment
The global colleges, universities and professional schools market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 6.59% of the total market in 2022.
Colleges, Universities And Professional Schools Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global colleges, universities and professional schools market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for colleges, universities and professional schools? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The colleges, universities and professional schools market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider colleges, universities and professional schools market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by type of expenditure and by mode.
- Product Analysis- The product analysis section of the report describes the leading products in the colleges, universities and professional schools market, along with key features and differentiators for those products.
- Supply Chain- The supply chain section of the report defines and explains the key players in the colleges, universities and professional schools industry supply chain.
- Customer Information- The chapter covers recent customer trends/preferences in the global colleges, universities and professional schools market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the colleges, universities and professional schools market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by type of expenditure and by mode in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for colleges, universities and professional schools providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 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
- Companies Mentioned: University of Pennsylvania; University of Michigan; Stanford University; John Hopkins University; Columbia University.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Belize; Costa Rica; El Salvador; Guatemala; Honduras; Nicaragua; Panama; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; colleges, universities and professional schools indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.