US Higher Education Market Size
The National Center for Education Statistics reports that the 2015-2016 market size for higher education in the United States was approximately $564 billion. IBISWorld proclaimed that the revenue generated from higher education in the country amounted to $497.3 billion in 2018. According to a May 2015 report, the higher education market was valued at $550 billion at that time.
U.S. EDUCATION MARKET (MARKET RESEARCH REPORT)
As reported by Zion Market Research, the market size of the education sector in the United States was about $1.350 trillion in the year 2017. The value of the market is expected to reach $2.040 trillion by 2026. From 2018 to 2026, the education market is anticipated to grow at a compound annual growth rate (CAGR) of more than 4.5% according to Zion Market Research and Business Wire. Over half (54.23%) of the market revenue in 2017 came from the K-12 segment, while 40% originated from higher education institutes based on end-user segment. Meanwhile, universities and colleges in the United States generated $497.3 billion in revenue in the year 2018. This figure indicated a 3.6% increase over 2017.
Furthermore, the higher education market's annualized growth rate in the country was merely 1.8% five years before 2018.
U.S. POST SECONDARY INSTITUTION REVENUES (GOVERNMENT DATA)
In the United States, degree-granting post-secondary institutions generated $564 billion in revenue between 2015 and 2016. A breakdown of this figure resembles the following:
Public Institutions: $364 billion
Private Non-Profit Institutions: $183 billion
Private For-Profit Institutions: $17 billion
As listed by the National Center for Education Statistics, revenues from these particular institutions were produced from appropriations, government grants, contracts, investments, fees, and tuition. A significant portion of the revenue made by private for-profit (90%) and non-profit (39%) institutions came from tuition and fees. On the other hand, the primary source of revenue for public institutions stemmed from government appropriations, contracts, and grants (43%). In a May 2015 report, the National Center for Education Statistics stated that higher education in the United States had an estimated value of $550 billion, whereas $80 billion originated from graduate education.
U.S. EDUCATION MARKET (BASED ON ENROLLMENT AND AVERAGE TUITION/FEES)
As reported by U.S. News & World Report, the average cost of fees and tuition for the 2018-2019 school year goes as follows:
Private Colleges: $35,676
Public Colleges (state residents): $9,716
State Schools (out-of-state students): $21,629
In 2018, college enrollment at public and private institutions was expected to reach 14.8 million and 5.13 million, respectively, according to Statista. Moreover, the U.S. Department of Education reports that the total enrollment (by age) in every degree-granting post-secondary institution in 2016 and 2027 goes as follows:
Projected figures for 2027