The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2017
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The global education industry is set to experience strong expansion, due to government support, increasing enrolment ratios and growing importance of adult education. The vast youth population will be the major factor pioneering growth in the Asia Pacific region, with China, India and Indonesia being the frontrunners. The ageing population and growing middle-class will also play an important role for the development of the adult education segment.
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The high share of the youth population, coupled with growing enrolment ratios and strong government incentives, has resulted in the rapid expansion of the education industry in Asia Pacific, and especially in the Emerging and Developing Asia region. Indian educational institutions were the most profitable globally in 2016, whilst China had the largest education industry in absolute terms. However, due to huge demographics, revenues per capita were well below the average in developed countries, indicating strong growth potential.
Populations in developed countries are ageing rapidly, while the concentration of the youth population in developing and emerging nations is high. As a result, the Philippines and India lead according to the number of primary education institutions, while EU members such as France, Norway and Spain have the volume advantage in adult and other education.
Successful international assessment does not depend on the size of the public or private segments of the education industry, but relies more on efficiency of how the industry‘s funding is organised. Yet the perception remains that private schooling increases the chances of success.
Government support for education per capita in developed countries is far higher than in developing countries, which can be explained by both the resourcefulness of developed nations and the high and growing populations of developing nations. Technology is becoming one of the most important tools for education
Education institutions are investing more in software solutions than in technology hardware. M-learning, Bring Your Own Device, “gamification” and virtual reality are gaining popularity and enabling teaching to be student-centred, while lectures are becoming project-and inquiry-based.
The top performers in PISA (South Korea and Singapore) primarily invest in highly educated teaching staff. Competitive salaries, as well as public and government trust, are the major factors putting the teaching profession in line with law and medicine professionals.
The population aged 65+ is expected to increase by 35% to 2025, constituting 10% of the total global population. China and India will accommodate the largest number of seniors; however, the growth of the older population will be the highest in the Middle East. Coupled with the growing middle-class and increasing resources for education, these regions will be especially attractive for continuous learning companies.
Asia Pacific’s education industry is projected to increase by a CAGR of 5% over 2016-2025, generating the largest revenues globally. China and India will be frontrunners according to revenues; however, Indonesia is expected to make it into the top 10 countries, noting the strengthening position of the whole region.
The rate of unemployed with higher education in developed countries will remain higher than in developing nations, due to differences in the levels of remuneration. Engineering and technology science programmes will see increasing popularity.
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