US Teaching and Education Sector

U.S. Education Market: Overview

The U.S. education market is one of the mature sectors relevant to the global scenario. Since the WHO declared COVID-19 as a global pandemic, schools remained shut for a prolonged time. On the contrary, in 2021, schools, colleges, and academic institutions have identified the potential in the situation that encourages them to look for sustainable alternatives. Besides, academic institutions have to deal with financial challenges on the flip side. From the commercial standpoint, the U.S. education market offers huge potential in terms of educational infrastructure, domain expertise, technological inclination, scholarships and reimbursement scenarios, and the level of educational quality. The presence of international universities with outstanding infrastructure is one of the essential highlights of the market growth.

Size & Compound Annual Growth Rate 

The GlobalU.S Education Market  was valued at USD 1.04 Trillion in 2022 and is projected to reach USD 1.45 Trillion by 2030. The Global U.S. Education Market is anticipated to increase by exhibiting a Compound Annual Growth Rate (CAGR) of 4.20% over the forecast period.

Structure of Education System 

The system follows a K-12 model, which includes elementary (K-5), middle school (grades 6-8), and secondary education (grades 9-12). In total, students attend school for 12 years before having the option to enroll in higher education at a college or university.

While each state in the U.S. offers free elementary school education with their own overall education protocols, private schools have the ability to set their own policies and guidelines. Additionally, regional, state, and federal governments invest in the education industry.

Today, education has evolved to incorporate blended, online, and offline learning, utilizing tools like the internet, video conferencing, and social media platforms like Google Meet and Zoom. Education is essential for acquiring knowledge, reducing gender parity, and spreading awareness among the population.

Industry Growth Factor

U.S. education will grow due to excellent schools. Several reports list 8 of the top 10 global institutes in the US. Filmmaking programmes at NYU's Tisch School of the Arts are well-regarded. The programme admits 3 of 20 applicants each year. U.S. grads get high-paying jobs. Basic education promotion by the government could increase regional market growth. Educational programmes are facing many issues.

Growth Drivers

Adoption of cloud technology to implement an online mode of learning

Advancements in technology and shifting preferences for online education have propelled the growth of the education sector. In addition, the penetration of SMART devices has encouraged the use of digital technologies to take over.

As an example, online learners are now enabled an SSO for their selected courses and have the option to store their contents and learning materials in a dedicated cloud space. This not only helps the learner with dedicated access but also encourages digital literacy to a vast extent.

The U.S. vendors on the technological front are now focusing majorly on providing unlimited bandwidth to the learners and enabling access to supporting technologies which is further accelerating the demand for cloud technology in the U.S. Education Market for 2022-2030.

COVID-19-induced changes remain pivotal to the market growth

COVID-19 has led to the adoption of several changes to learning methods. This has resulted in Universities and educational institutions redesigning business strategies that center around resilience and variable factors. As an example, many universities are now offering hybrid models and have enabled options for learners to choose the mode of learning depending on their location and preference.

Market Dynamics

Online Education will Steer the Market Trends

This rise in demand for online education is being driven by the widespread recognition of the benefits of online learning, which is seen as a user-friendly, convenient, and flexible mode of education compared to traditional learning methods. As a result, more and more students of all ages, including working professionals and stay-at-home parents, are turning to online education.

The popularity of online textbooks is also on the rise in the U.S., which is further fueling the growth of the education industry in the country. With the ease of access and cost-effectiveness offered by digital textbooks, more students are expected to opt for this format in the coming years.

Introduction of New Technologies Will Help the Market to Grow

The industry is experiencing a surge in investment in instructional activities and the adoption of the latest technology, driven by the increasing demand for high-quality learning and skilled professionals.

This trend is expected to attract students not only from within the U.S. but also from other countries, contributing to the market's growth. However, the industry also faces competition from overseas education institutes, which could inhibit the market's growth.

In addition to competition, the U.S. education industry also faces legal issues related to post-secondary education, which could further hinder its growth during the forecast timeline.

Regional Landscape

The U.S. Education Market is dominated by North America. The market of U.S. Education Market in North America is witnessing significant growth attributed to access to high-quality education and high affordability corresponding to the rise in government-provided scholarships in various Tier II and Tier III cities and areas.

The U.S. Education Market benefits from wide-ranging factors, such as the adoption of online methods, as well as the growing internet penetration. Additionally, teacher-to-student learning is emphasized for imparting quality education.

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