Global Education Market Tops $4 Trillion, Analysis Shows
The global market for education is $4.4 trillion, and poised to grow significantly over the next five years, according to an analysis by an international investment bank that advises companies on educational technology.
According to IBIS Capital, a London-based investment bank, the e-learning market is projected to grow by 23 percent between now and 2017, making it the fastest-growing market in education. (See its estimates below.)
The IBIS Capital analysis covers several sectors of e-learning worldwide, including K-12 schools, higher education, and corporate and government training programs.
The estimates offer a glimpse of the market for e-learning beyond U.S. borders, which is a significant one, serving 1.4 billion students and 62.5 million educators, IBIS Capital says.
IBIS Capital does not currently have an estimate of what portion of the market is in the United States, but they're working on one, a representative of the organization said in an e-mail. Clearly, the United States isn't the only viable market for online learning—there are more than 3,000 e-learning companies in Europe, the investment bank says. [Update: I've updated this post to say that the overall global market for education expenditures stands at more than $4 trillion, and the market for the subset of e-learning, specifically, stands at $91 billion.]