US Education Market Size Overview 2023

One of the world's largest and most intricate markets is the US educational system. Primary and secondary schools, colleges and universities, technical and vocational schools, and organizations dedicated to lifelong learning are all included.

In the United States, each state is primarily responsible for elementary and secondary education, with minimal federal oversight. While the vast majority of kids do attend public schools, there are other options for them to attend private institutions or publicly sponsored charter schools. However, there are large gaps in funding and quality amongst schools across different areas, despite the fact that the United States spends more per student on elementary and secondary education than many other industrialized countries.

In the United States, students can get degrees ranging from an associate's to a doctorate from a wide variety of public and private universities. Community colleges and technical institutions are many in the United States, alongside some of the world's best universities like Harvard and Yale from the Ivy League. Student debt is a serious problem for many recent college grads because of the high expense of higher education in the United States compared to other nations.

Continuing education and professional development services are also a lucrative sector of the US education market. Online courses, in-house training programs, and certifications and other credentials offered by trade and professional groups all fall under this category.

Market Growth Analysis

In 2020, the total value of the US educational market was assessed at USD 1.1 trillion; by 2028, that number is expected to rise to USD 2.3 trillion, representing a compound annual growth rate (CAGR) of over 4.5%.

Rising household incomes, improved discretionary expenditure, and a greater emphasis on education have all contributed to a thriving education market in the United States. One of the most important reasons why the American market is expanding is the prevalence of cutting-edge technology.

The growing importance of education in the United States, combined with the widespread adoption of new technologies, is expected to drive the market size upward in the future years. The consumer attitude shift has huge implications for the future growth of the education industry in the United States.

Components, smart learning mode, and technology are the primary divisions of the U.S. education market. Based on projected growth rates, the cloud industry is predicted to be the largest segment of the U.S. education market from 2022-2030.

With more and more people using cloud services, there will be a greater demand for secure methods of storing and accessing data on the cloud. The service subsegment is anticipated to be the most lucrative within the forecast time frame. Increases in smartphone and internet usage are driving the expansion of this sector. It is anticipated that the blended learning market would have a major effect on the evolution of the market in the smart learning mode.

U.S. Education Market To Hit Highest Peak Of Growth With USD 2.3 Trillion Earnings By 2028

The U.S. Education Market is segmented as follows:

By Type

• Cloud
• On-Premise

By Content

• Audio-Based Content
• Video-Based Content
• Text Content

By Smart Learning Mode

• Collaborative Learning
• Virtual Instructor Led Training
• Simulation Based Learning
• Adaptive Learning
• Social Learning
• Blended Learning
• Webinars

By Component

• Hardware
• Software
• Service

By End User

• Higher Education Institutes
• K-12
• Pre-K

Education Market: Regional Segment Analysis (In other Countries)

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa