United States Education Market Report and Forecast 2024-2032

United States Education Market Outlook

The United States education market reached a value of approximately USD 1.25 trillion in 2023. The market is projected to grow at a CAGR of 4.30% between 2024 and 2032, reaching a value of nearly USD 1.82 trillion by 2032.

Key Trends in the Market

Education can be described as both the process of giving knowledge to others and receiving knowledge from someone. The purpose of education is to provide a stage which enables a person to acquire knowledge and skills for personal development, further helping them reach their potential.

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• The United States education market is being driven by the increasing implementation of advanced technologies in educational settings. Technological advancements, such as virtual reality (VR), artificial intelligence (AI), and augmented reality (AR), have opened up new avenues for personalised and adaptive learning, providing students with tailored educational experiences that cater to their individual needs.

• The rising trend of remote learning is a major factor propelling the market development. Online learning offers flexibility, accessibility, and cost-effectiveness, making it an attractive mode of education for working professionals and students seeking an alternative source of education. Moreover, the adoption of latest technologies by universities is likely to enhance the experience of students opting for distance learning courses.

• Skill-based education is another major United States education market trend gaining significance due to evolving workforce requirements. Employers are placing greater emphasis on hiring candidates with practical skills and real-world experience. As a result, educational institutions are incorporating more vocational and career-oriented programmes.

Market Analysis

Based on components, the market is segmented into hardware, software, and service. On the basis of deployment mode, the market can be divided into cloud and on-premises. The market, based on content, is categorised into text based content, audio based content, and video based content. On the basis of sector, the market is divided into preschool, K-12, and higher education.

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The market, based on end-use, is bifurcated into business and consumer. The major regional markets for education in the United States include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountains, and Far West.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States education market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

• Adobe Inc.

• Cisco Systems Inc.

• Educomp Solutions Ltd

• NIIT Limited

• Blackboard Inc.

• AWE Learning

• Sumtotal Systems, LLC

• McGraw Hill

• Promethean Limited.

• Omnitracs, LLC

• Ellucian Company L.P

• Others

Market Share by Deployment Mode

The cloud segment is expected to hold a major share of the United States education market. The growth of the segment can be attributed to the growing adoption of cloud technologies due to their several advantages, such as automated updates, unlimited storage space, cost-effectiveness, high scalability, and accessibility. Cloud computing also enables users to access the content on the go through common smart devices.

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Market Share by Content

Video-based content is anticipated to hold a significant position in the market owing to its higher level of engagement benefits, which can enhance the retention and cognitive skills of students. Through the video format, students can  pause, rewind, or skip the video at any point. Videos are also more likely to capture a person's attention for a longer time as they utilise colourful visuals and sounds to deliver the point effectively.

Competitive Landscape

NIIT Limited is a leading global skill and talent development corporation that operates with a primary focus on providing training and skill development programs in areas such as cybersecurity, information technology (IT), data science, artificial intelligence (AI), digital transformation, and other emerging technologies. It has been providing education and training to individuals since its establishment in 1981.

Blackboard Inc. is one of the leading educational technologies (EdTech) companies that provides learning management systems (LMS), data analytics, web conferencing systems and other educational software and services. It was founded in 1997 and is currently headquartered in Washington, D.C., the United States. Blackboard also offers its services to different sectors such as government, business, and higher education.

AWE Learning is a company that specialises in providing digital learning solutions for early childhood education. The company focuses on creating educational products and software designed specifically for young children, aged 2 to 12 years old. The company was established in the year 1994 and has developed its speciality in digital learning solutions, early education, and community learning.

Other market players include Adobe Inc., Cisco Systems Inc., Educomp Solutions Ltd, Sumtotal Systems, LLC, McGraw Hill, Promethean Limited.,     Omnitracs, LLC, and Ellucian Company L.P, among others.

Key Highlights of the Report