Overall U.S. Education Market to Hit $1.96 Trillion by 2025
Education in the United States is a booming business. A new forecast
puts the total at $1.96 trillion by the year 2025.
That figure includes K–12, higher education, corporate
training/e-learning and child care — the largest segment of which
is K–12 education in terms of size and growth, according to the
report, US
Education Market (K-12, Post-Secondary, Corporate Training &
Child Care): Insights & Forecast with Potential Impact of
COVID-19 (2021-2025), from ResearchAndMarkets.com. (The market share figure for only K–12
wasn't provided in the version of the report that' accessible to the
public.) Early education and a "rising population of children
under 5" were cited as two of the significant growth factors for
K–12.
Other trends driving the market cited in the report included:
"increasing demand for skilled labor, international demand for
US education, rising blended learning, increasing education funding
and greater use of technology in [the] education sector."
The $1.97 trillion figure anticipates a compound annual growth rate
of 3.77%, starting with $1.57 trillion in 2019.
The complete
report is available for $1,250 for a single-user license.