- Education is referred to as the method or mode of learning through particular habits, knowledge, values, skills, and beliefs.
- The market growth in the U.S. is credited to the massive demand for digital learning tools like e-learning or online learning in the country.
- The segmental growth over the forecast timeline is owing to the large-scale requirement of good education in the U.S. coupled with high focus on enhancing the quality of education in the country.
Education is referred to as the method or mode of learning through particular habits, knowledge, values, skills, and beliefs. It is the key tool for growth and robust equipment for minimizing poverty, enhancing health, maintaining peace, acquiring knowledge, and maintaining gender parity.
Education in the U.S. is decentralized and is based on the federal constitution. Moreover, the latter controls & regulates education in all of the states as well as schools & higher institutes of learning in the U.S.
Furthermore, education in the U.S. is mandatory for all students until the age of sixteen or eighteen years of age, based on the state. The education system involves a particular pattern with primary school, mid-school, high school, and post-secondary school. Moreover, post-secondary school or education includes non-degree programs resulting in diplomas or certificates along with six-degree levels including associate degree, bachelor’s degree, professional degree, master’s degree, advanced intermediate degree, and research doctorate degree of education.
According to the research report published by Facts & Factors, the U.S. Education market is predicted to be valued at approximately $1,411.03 billion in 2018 and is expected to reach a value of around $1,949.99 billion by 2025, at a CAGR of around 4.7% between 2019 and 2025.
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Market growth in the U.S. is credited to the massive demand for digital learning tools like e-learning or online learning in the country. Moreover, large-scale acceptance of online courses to impart education to all types of learners will further steer the industry growth in the U.S. Additionally, online digital learning is a user-friendly, convenient, and flexible mode of learning as compared to the conventional way of learning.
Apparently, escalating awareness among the youth, working professionals, and house-wives about online learning will spur the growth of the U.S. education industry over the forecast timeline. Furthermore, an increase in the popular use of online textbooks in the U.S is set to steer the expansion of the education industry in the country over the forecast timeline.
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Furthermore, introduction of new technologies in the education sector, a surge in funding of educational activities, humongous demand for skilled professionals & high-quality learning, and growing preference for a U.S.-based education among students from other countries will boost the market growth trends in the U.S. However, the growing competition from foreign education institutes and legal problems faced by post-secondary education in the country will inhibit market growth during the forecast timeline.
The Cloud segment is predicted to register the highest growth rate of more than 5% during the forecast timeline. This growth is related to the low capital investment required to set up of a cloud-based education solution. In addition to this, beneficial features like automated updating, easy accessibility, huge storage space, ability to scale class size, quick deployment, ability to customize the educational experience, and high level of data security offered by the cloud solutions will further amplify this segment’s growth over the forecast period.
K-12 segment will dominate the end-user landscape by 2025. The segment’s growth over the forecast timeline is due to the large-scale requirement of good education in the U.S., coupled with a high focus on enhancing the quality of education in the country.
Some of the key participants in the business include NIIT Limited, Saba Software Inc., McGraw-Hill Education, Adobe Systems Inc., ABCmouse.com, AWE Acquisition, Inc. Promethean Inc., Cisco Systems Inc., Desire2Learn, Educomp, Ellucian Company L.P, Pearson Plc, Blackboard, Smart Technologies, SumTotal System Inc., Tata Interactive Systems, and Wall Family Enterprise.