Education industry comprise of schools, colleges, institutions, and universities. All educational institutions in the industry provides teaching and training to students enrolled over high schools, colleges and universities, and training centers offering industrial, professional, and vocational programs. The type of Institutions are public, private, and nonprofit organizations profit businesses organizations. The education industry is an ever expanding and also evolving by the use of technology and digital medium’s advancements. Schools, colleges, institutions and universities provide instructional and non-instructional support services the widespread adoption of internet has been proved to be supportive for the e-education and holds significant available potential that will change the education industry performance.
According to the study “Educational Services Global Market Report 2019” Some of the key players in market are Los Angeles School District, the University of Texas System, Apollo Group, Coursera, Udacity, Rio Salado Community College, Duolingo, Inside Track and DeVry.
The educational services market is large and growing with multiple sorts of opportunities available for franchisees. The educational services are not limited to teaching school kids in subjects like math and science opportunities but it also includes early education, career education, art, dance, adult language, test preparation and many others. The growth of educational services market is largely driven by the growth in competitive landscape, rise in emphasis on higher education in the developing and developed geographies, further rise in blue collar work is also allowing being increase in awareness for education as personal and professional development. To increase widespread development and avail of education services colleges are competing by providing easy access to student loans along with many banks and government scholarship programs further promoting the education sector. The companies within the industry have also grown significantly and have now realized use of training and education services some, however with the ever increasing technological development despite the growth in the sector sometime come it is still a difficult to find qualified instructors.
Increase in awareness in the emerging markets is additionally contributing to demand in the educational services market. The technological development coupled with the globalization have substantially raised the level of participation, customers availing education and new training services. The significant increase in demand over high-value education services have also supported the market growth. The Asia-Pacific is one of key region recording the high growth rate and further predicted to ascertain the growth in revenue generated for the forecast period. There has been an increasing shift within the way people learn from more traditional methods to more flexible learning formats, like e-education. Private tutoring is about to continue and witnessing growing demand as parents and dual-income households are seeking more ways to supplement their children’s with the formal education. This segment continues to carry high potential owing to its accessibility that allows potential students to take advantage without physically attending the classes and therefore the possibility of appropriate study into a schedule can be included. The North American region is estimated to possess the substantial adoption rate of education services. Moreover the regions such as Latin America, Middle East and Africa further offer substantial opportunities to the service providers with some of the key countries such as United Arab Emirates and Saudi Arabia emerging to adopt new solutions and services in this sector.
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Ankur Gupta, Head Marketing & Communications