If you operate a primarily online institution of higher education, consider yourself among the new leaders in the education industry.
A new report from Maximize Market Research proves it.[1]
The firm’s research, released just a few days ago, shows that global higher education market is entering a powerful new growth phase. And, as you are probably aware, online institutions like yours are at the center of it.
In fact, the data show that in 2023, the overall higher ed market was valued at roughly $724 billion. By 2030 it’s expected to reach nearly $1.7 trillion.
The major growth factor?
You guessed it, online education.
You see, while traditional universities still matter, and are a major player in the EDU space, the real story behind this expansion, clocking in at over 12% a year, is how quickly the education industry is moving online.
But why?
Well, today’s students want flexibility, affordability, and credentials that actually lead to better jobs…
Online education can, as you know, deliver on all three.
“The Higher Education Market is undergoing a significant transformation as universities, colleges, and education service providers adapt to digital-first learning models, international student mobility, and evolving workforce demands.
“As governments and private institutions prioritize skill-based education, the Higher Education Market is becoming a critical pillar of long-term economic development and innovation,” the report says.
However, with growth comes competition. More on this in a moment.
First…
Potential students know this: By removing geographic barriers and rigid schedules, online programs make it possible for working professionals, parents, and, in some cases, international students to earn degrees without putting their lives on hold.
These facts alone have dramatically expanded the addressable market for higher education, especially with adult learners.
From the online institution’s perspective, online education changes the economics of higher education in a meaningful way.
Primarily online institutions are, in general, not limited by classroom size or campus capacity…
And a single online program can scale nationally, allowing schools to grow enrollment without massive capital investments.
It’s this scalability why institutions, even traditional “brick and mortar” schools, are now embracing a digital-first strategy.
Competition.
Although many primarily online institutions have been serving students for years, decades even, traditional higher ed has begun rapidly investing in the space.
Meaning more institutions are now competing for a limited number of potential students. In fact, estimates show the US population is only expected to grow at roughly 3.5% by 2030.[2]
Now, you may be thinking this low population growth may not affect your institution as heavily as traditional higher ed, as you likely target adult learners…
But consulting firm EAB, says, “Over the last few years, colleges and universities have increasingly prioritized adult learner enrollment to offset declining undergraduate enrollment and diversify revenue streams…
“One hundred percent of surveyed presidents and provosts said adult learner enrollment is a high or moderate priority for their institution.”[3]
Simply put, traditional higher ed is going after your prospects.
So, how can you better ensure you meet or exceed your enrollment goals, even as traditional schools invade the space?
Simple. Partner with Conversion Media Group. We’re a national leader in higher education enrollment initiatives…
And we specialize in assisting primarily online institutions attract adult learners.
We are enrollment experts.
Give us a call at 1-800-419-3201 and we can discuss our various programs.
Primarily online institutions have been the leader in the “new” education space. Together, we can help keep it that way.
[1] Higher Education Market Trends 2024-2030: Online Learning,
[2] Demographics of the United States – Wikipedia
[3] Adult learners: who they are and what they want out of college | EAB