Industry Analysis No. 7: Education in the United States
First, industry analysis
(1) Advantages
1. Rich educational resources: The United States has many world-renowned institutions of higher learning, such as Harvard University, Stanford University, etc. These top universities are in the world's leading level in academic research, faculty and teaching facilities, attracting a large number of outstanding students from all over the world to further their studies, establishing a high-end brand image for the American education industry, and promoting the development of related education industries. Such as study abroad services, academic exchanges, etc.
2. Diversified education system: from preschool education to higher education, from public education to private education, from traditional classroom teaching to online education and other forms, to meet the needs of different student groups. For example, vocational and technical education provides students with skills training that directly leads to the job market, while different types of institutions in higher education, such as comprehensive universities, liberal arts colleges, and community colleges, also provide students with diverse options for further study.
3. Extensive application of science and technology: the American education industry actively introduces modern technology, such as online education platform, educational software, virtual reality teaching tools, etc., which not only enriches the content and form of teaching, improves the efficiency and quality of teaching, but also expands the boundaries and accessibility of education, enabling students to obtain high-quality educational resources more conveniently, and also gives birth to the prosperity of education technology industry.
(2) Disadvantages
1. Uneven distribution of educational resources: There is a big gap in educational resources between different regions and different social and economic classes. For example, schools in some poor areas may face problems such as a shortage of teachers and outdated teaching facilities, while schools in wealthier areas are able to provide better educational conditions, which may lead to unequal educational opportunities and affect the development of some students.
2. High tuition fees: Especially private colleges and universities and some well-known institutions of higher education, tuition fees continue to rise, which brings a heavy financial burden to students and their families. According to statistics, the cost of attending a private four-year school in 2023 is about $41,000 per year, which is far from the salary graduates receive when they are employed, and has led some students to forgo higher education for financial reasons or choose to take out loans to attend school, resulting in heavy debt.
3. Some colleges and universities are facing financial pressure: In recent years, there have been some signs that some colleges and universities in the United States are facing financial pressure, and factors such as reduced revenue, rising costs and declining enrollment are the main reasons for the operating crisis of some colleges and universities. At least 100 universities in the United States have closed or merged since 2016, and 20 to 25 are expected to close each year.
(3) Opportunities
1. International education market demand growth: With the acceleration of globalization, more and more international students want to receive education in the United States, which brings huge market potential for the American education industry. According to statistics, the exports created by studying in the United States in 2022 reached 37.68 billion US dollars, an increase of 17%. The U.S. government has also included study abroad in its national export strategy to further promote the development of international education service trade.
2. Online education market expansion: The continuous development and popularization of Internet technology provides a broad space for the development of online education. Online education can not only break through the limitations of time and space, meet the learning needs of different students, but also reduce the cost of education and improve the efficiency of education. It is expected that by 2025, the market share of online learning in the US private tutoring market will reach 35.69%, an increase of 20.21% compared to 2019.
3. The importance and development of vocational and technical education ** : With the adjustment of economic structure and industrial upgrading, the demand for skilled talents in society is increasing, and the importance of vocational and technical education is becoming increasingly prominent. The U.S. government and society pay more and more attention to vocational and technical education, and increase investment and support in related fields, which will bring more development opportunities for vocational and technical education institutions.
(4) Threats
1. Global education competition Intensifies: The education level of other countries continues to improve, and the education market is gradually opening up, forming a fierce competition with the American education industry. For example, the United Kingdom, Australia, Canada and other countries also attract a large number of international students, posing a certain threat to the U.S. market share. In addition, some emerging countries are also increasing investment in education, improving the quality of education, and cultivating local talents, which also challenges the global leadership of the U.S. education industry.
2. Changes in policies and regulations: Changes in education policies and regulations can have a significant impact on the education industry. For example, the government's investment in education funds, education tax policies, immigration policies, etc., may affect school operations and students' willingness to enroll. In addition, the education industry is also facing strict laws and regulations, such as the qualification certification of educational institutions, the qualification requirements of teachers, and the protection of students' rights and interests, which increase the operating costs and management difficulties of educational institutions.
3. Demographic changes: The demographic structure of the United States is changing, such as an aging population and a rising proportion of minorities, which poses new challenges for the education industry. For example, an increase in the elderly population may lead to a growth in demand for continuing and geriatric education, while a rise in the proportion of ethnic minorities will require educational institutions to pay more attention to educational equity and multicultural education to meet the needs of students of different ethnic groups.
Ii. Data report
1. Preschool and Basic education:
In 2022, the enrolment rate for children aged three to five was 59 per cent, up from 53 per cent in 2021, but still down from 61 per cent in 2019. Of these children, 20 per cent receive private education, including home schooling.
The total number of public elementary and secondary school (K-12) students in the United States is 49.6 million in 2022, of which 44.5 percent are white, 29 percent are Hispanic, 14.9 percent are black, and 5.4 percent are Asian. In addition, 10.6 percent of public school students are English learners, up from 9.4 percent in 2011.
2. Student Achievement in secondary education:
The average graduation rate for high school students in the United States has improved, from 80 percent in the 2011-2012 school year to 87 percent in the 2021-2022 school year.
There are significant differences in graduation rates by ethnic group: Asian/Pacific Islander students have the highest graduation rate at 94 percent; 90% white students; 83% of Hispanic students; For black students, 81 percent; American Indian/Alaska Native students had the lowest graduation rate at 74 percent.
3. Higher Education:
In 2022, 50 per cent of the US population aged 25 to 64 will have earned a tertiary degree, higher than the OECD average of 41 per cent. Among 37 OECD countries, the United States ranks ninth in higher education degree attainment, higher than 28 countries.
Between 2010 and 2021, undergraduate enrollment decreased while graduate enrollment increased. Direct university enrolment in 2021 (62%) is lower than in 2010 (68%).
Total enrollment at the graduate level increased by 5 percent between fall 2010 and fall 2019 (from 2.9 million students to 3.1 million students) and continued to increase by 5 percent during the pandemic (to 3.2 million students in fall 2021).
4. Vocational and Technical education:
For the 2020-2021 school year, 31 percent of public schools will have difficulty recruiting or not being able to fill positions for vocational and technical education teachers, higher than the difficulty of recruiting teachers in some other subjects, but lower than the difficulty of recruiting teachers in physical sciences, special education and foreign languages.
5. Teacher mobility:
In the 2020-2021 school year, 84% of public school teachers will remain in their original school for the 2021-2022 school year, 8% will transfer to other schools, and another 8% will leave the education profession.
6. Private tutoring industry:
In 2015, the total revenue of the private tutoring market in the United States was $6,794.13 billion, which increased to $9,121.96 million in 2019, and the compound annual growth rate of the private tutoring industry from 2019 to 2025 is 7.92%. The private tutoring market will be worth $14.41291 billion.
In 2019, private tutors were divided by teaching methods, and the market share of course-based learning reached 78.34%; Divided by learning forms, blended learning accounted for 84.52% of the market share. The U.S. private tutoring industry has low market concentration, with the top three companies in 2019 - Chegg Inc., Kaplan, and Varsity tutor LLC - accounting for 10.47% of the market.
Iii. Analysis of future development trends
(1) Technology integration and innovation
1. Deep application of artificial intelligence: Artificial intelligence will be more widely and deeply applied in the field of education. On the one hand, it can realize the personalized teaching process, according to the learning progress, characteristics and needs of students, to provide them with customized learning programs and tutoring content, such as intelligent tutoring system can answer students' questions in real time, provide targeted exercises, etc. On the other hand, artificial intelligence can help teachers complete some tedious tasks, such as automatically correcting homework, generating teaching resources, etc., so that teachers have more time to pay attention to the personalized development of students, and there may be more educational tools and platforms based on artificial intelligence in the future.
2. Expansion of AR/VR technology: Virtual and augmented reality technology is expected to further enhance the learning experience of students. In science, history, geography and other disciplines, by creating a virtual learning environment, students can conduct experiments, explore historical sites or observe geographical phenomena, so that abstract knowledge becomes more intuitive and concrete, enhance the fun and participation of learning, it is expected that more educational institutions will integrate AR/VR technology into teaching. Develop a richer variety of teaching applications.
3. Upgrading of the learning management system: The learning management system will continue to improve and optimize, and pay more attention to user experience to meet the needs of students and parents. Schools and educational institutions will put higher requirements on educational technology providers to promote learning management systems with more powerful functions, such as better course management, learning progress tracking, data analysis, and home-school communication, so as to achieve efficient management of the educational process and timely sharing of information.
(2) Reform of education model
1. Promotion of interdisciplinary and project-based learning: With the increasing demand for integrated talents, interdisciplinary and project-based learning models will receive more attention. The school will break the boundaries of traditional disciplines, design more comprehensive courses and projects, cultivate students' interdisciplinary thinking ability, innovation ability and ability to solve practical problems, so that students can better understand and apply knowledge in practice. This learning mode will help improve students' comprehensive quality and better adapt to the development needs of the future society.
2. Continuous growth of online education: The continuous progress of Internet technology will promote the further expansion of the online education market. Online education not only provides a more flexible way of learning to meet the needs of different students' learning time and place, but also integrates high-quality education resources and reduces education costs. In the future, online education will continue to expand its coverage and content areas, from preschool education to higher education, from academic courses to vocational skills training, there will be more online learning options, at the same time, the quality and effectiveness of online education will continue to improve, through the introduction of more interactive teaching methods and technical means to improve students' learning engagement and learning outcomes.
(3) Optimization and integration of educational resources
1. The impact of Education savings Accounts: The promotion of education savings accounts will make family education choices more personalized and diversified, and public education spending will also be more flexible. This trend helps to optimize the allocation of educational resources, so that families can choose more suitable education methods and schools according to their own needs and children's characteristics, including private schools, online education, vocational and technical education, etc., promote the diversified development of the education market, but also may intensify the competition between educational institutions, prompting institutions to continuously improve the quality of education and service level.
2. Strengthening of cooperation between schools and enterprises: In order to improve students' employment competitiveness and adapt to market demand, the cooperation between schools and enterprises will become increasingly close. Companies will become more involved in the education process by offering internships, practical projects, guidance from industry experts, and scholarships to work with schools to develop talent that meets market demand. This mode of cooperation helps to realize the seamless connection between education and employment, improve students' professional quality and employment success rate, and also transport high-quality talents for enterprises to promote the coordinated development of education and economy.
(4) The change of teachers' roles
1. Become a facilitator and coach of learning: With the development of educational technology, the role of teachers will gradually change from the traditional knowledge imparted to the facilitator and coach of learning. Teachers will pay more attention to students' learning process and personalized development, help students to set learning goals, cultivate learning strategies, stimulate learning interests, and guide students to independent learning and inquiry learning. Teachers need to have stronger application ability of educational technology, teaching design ability and student guidance ability to adapt to the new education model and teaching requirements.
2. New demands for professional development: In order to better cope with the changes in the education industry, the professional development of teachers will face new demands. Teachers need to constantly learn and update educational concepts, teaching methods and technical application ability, participate in relevant training and further education courses, and improve their comprehensive quality and professional level. In addition, teachers also need to pay attention to the latest research results and development trends in the field of education, actively participate in the practice of education reform, communicate and cooperate with peers, and jointly promote the innovation and development of education and teaching.
(5) Promoting internationalization of education
1. Increased competition in the international student market: The global education market will become more competitive, and the U.S. education industry will face strong competition from other countries. In order to attract more international students, American schools and educational institutions need to continuously improve their educational quality and internationalization level, provide more attractive courses and services, and strengthen international exchanges and cooperation programs. At the same time, the diversity of international students will also put higher requirements on the teaching and management of American educational institutions. To promote it to pay more attention to cross-cultural education and the cultivation of students' international vision.
To sum up, while the American education industry has many advantages, it also faces a series of challenges. Through the analysis of the data, we can see the status quo and development trend of its various education stages. In the future, the development trend of technology, mode, resources, teacher role and internationalization will prompt the American education industry to continue to change and innovate to meet the needs of The Times and maintain its important position in the global education field.
Thank you for watching, I hope this report can provide you with valuable information and in-depth insight to help you have a more comprehensive understanding of the American education industry.
(1) Advantages
1. Rich educational resources: The United States has many world-renowned institutions of higher learning, such as Harvard University, Stanford University, etc. These top universities are in the world's leading level in academic research, faculty and teaching facilities, attracting a large number of outstanding students from all over the world to further their studies, establishing a high-end brand image for the American education industry, and promoting the development of related education industries. Such as study abroad services, academic exchanges, etc.
2. Diversified education system: from preschool education to higher education, from public education to private education, from traditional classroom teaching to online education and other forms, to meet the needs of different student groups. For example, vocational and technical education provides students with skills training that directly leads to the job market, while different types of institutions in higher education, such as comprehensive universities, liberal arts colleges, and community colleges, also provide students with diverse options for further study.
3. Extensive application of science and technology: the American education industry actively introduces modern technology, such as online education platform, educational software, virtual reality teaching tools, etc., which not only enriches the content and form of teaching, improves the efficiency and quality of teaching, but also expands the boundaries and accessibility of education, enabling students to obtain high-quality educational resources more conveniently, and also gives birth to the prosperity of education technology industry.
(2) Disadvantages
1. Uneven distribution of educational resources: There is a big gap in educational resources between different regions and different social and economic classes. For example, schools in some poor areas may face problems such as a shortage of teachers and outdated teaching facilities, while schools in wealthier areas are able to provide better educational conditions, which may lead to unequal educational opportunities and affect the development of some students.
2. High tuition fees: Especially private colleges and universities and some well-known institutions of higher education, tuition fees continue to rise, which brings a heavy financial burden to students and their families. According to statistics, the cost of attending a private four-year school in 2023 is about $41,000 per year, which is far from the salary graduates receive when they are employed, and has led some students to forgo higher education for financial reasons or choose to take out loans to attend school, resulting in heavy debt.
3. Some colleges and universities are facing financial pressure: In recent years, there have been some signs that some colleges and universities in the United States are facing financial pressure, and factors such as reduced revenue, rising costs and declining enrollment are the main reasons for the operating crisis of some colleges and universities. At least 100 universities in the United States have closed or merged since 2016, and 20 to 25 are expected to close each year.
(3) Opportunities
1. International education market demand growth: With the acceleration of globalization, more and more international students want to receive education in the United States, which brings huge market potential for the American education industry. According to statistics, the exports created by studying in the United States in 2022 reached 37.68 billion US dollars, an increase of 17%. The U.S. government has also included study abroad in its national export strategy to further promote the development of international education service trade.
2. Online education market expansion: The continuous development and popularization of Internet technology provides a broad space for the development of online education. Online education can not only break through the limitations of time and space, meet the learning needs of different students, but also reduce the cost of education and improve the efficiency of education. It is expected that by 2025, the market share of online learning in the US private tutoring market will reach 35.69%, an increase of 20.21% compared to 2019.
3. The importance and development of vocational and technical education ** : With the adjustment of economic structure and industrial upgrading, the demand for skilled talents in society is increasing, and the importance of vocational and technical education is becoming increasingly prominent. The U.S. government and society pay more and more attention to vocational and technical education, and increase investment and support in related fields, which will bring more development opportunities for vocational and technical education institutions.
(4) Threats
1. Global education competition Intensifies: The education level of other countries continues to improve, and the education market is gradually opening up, forming a fierce competition with the American education industry. For example, the United Kingdom, Australia, Canada and other countries also attract a large number of international students, posing a certain threat to the U.S. market share. In addition, some emerging countries are also increasing investment in education, improving the quality of education, and cultivating local talents, which also challenges the global leadership of the U.S. education industry.
2. Changes in policies and regulations: Changes in education policies and regulations can have a significant impact on the education industry. For example, the government's investment in education funds, education tax policies, immigration policies, etc., may affect school operations and students' willingness to enroll. In addition, the education industry is also facing strict laws and regulations, such as the qualification certification of educational institutions, the qualification requirements of teachers, and the protection of students' rights and interests, which increase the operating costs and management difficulties of educational institutions.
3. Demographic changes: The demographic structure of the United States is changing, such as an aging population and a rising proportion of minorities, which poses new challenges for the education industry. For example, an increase in the elderly population may lead to a growth in demand for continuing and geriatric education, while a rise in the proportion of ethnic minorities will require educational institutions to pay more attention to educational equity and multicultural education to meet the needs of students of different ethnic groups.
Ii. Data report
1. Preschool and Basic education:
In 2022, the enrolment rate for children aged three to five was 59 per cent, up from 53 per cent in 2021, but still down from 61 per cent in 2019. Of these children, 20 per cent receive private education, including home schooling.
The total number of public elementary and secondary school (K-12) students in the United States is 49.6 million in 2022, of which 44.5 percent are white, 29 percent are Hispanic, 14.9 percent are black, and 5.4 percent are Asian. In addition, 10.6 percent of public school students are English learners, up from 9.4 percent in 2011.
2. Student Achievement in secondary education:
The average graduation rate for high school students in the United States has improved, from 80 percent in the 2011-2012 school year to 87 percent in the 2021-2022 school year.
There are significant differences in graduation rates by ethnic group: Asian/Pacific Islander students have the highest graduation rate at 94 percent; 90% white students; 83% of Hispanic students; For black students, 81 percent; American Indian/Alaska Native students had the lowest graduation rate at 74 percent.
3. Higher Education:
In 2022, 50 per cent of the US population aged 25 to 64 will have earned a tertiary degree, higher than the OECD average of 41 per cent. Among 37 OECD countries, the United States ranks ninth in higher education degree attainment, higher than 28 countries.
Between 2010 and 2021, undergraduate enrollment decreased while graduate enrollment increased. Direct university enrolment in 2021 (62%) is lower than in 2010 (68%).
Total enrollment at the graduate level increased by 5 percent between fall 2010 and fall 2019 (from 2.9 million students to 3.1 million students) and continued to increase by 5 percent during the pandemic (to 3.2 million students in fall 2021).
4. Vocational and Technical education:
For the 2020-2021 school year, 31 percent of public schools will have difficulty recruiting or not being able to fill positions for vocational and technical education teachers, higher than the difficulty of recruiting teachers in some other subjects, but lower than the difficulty of recruiting teachers in physical sciences, special education and foreign languages.
5. Teacher mobility:
In the 2020-2021 school year, 84% of public school teachers will remain in their original school for the 2021-2022 school year, 8% will transfer to other schools, and another 8% will leave the education profession.
6. Private tutoring industry:
In 2015, the total revenue of the private tutoring market in the United States was $6,794.13 billion, which increased to $9,121.96 million in 2019, and the compound annual growth rate of the private tutoring industry from 2019 to 2025 is 7.92%. The private tutoring market will be worth $14.41291 billion.
In 2019, private tutors were divided by teaching methods, and the market share of course-based learning reached 78.34%; Divided by learning forms, blended learning accounted for 84.52% of the market share. The U.S. private tutoring industry has low market concentration, with the top three companies in 2019 - Chegg Inc., Kaplan, and Varsity tutor LLC - accounting for 10.47% of the market.
Iii. Analysis of future development trends
(1) Technology integration and innovation
1. Deep application of artificial intelligence: Artificial intelligence will be more widely and deeply applied in the field of education. On the one hand, it can realize the personalized teaching process, according to the learning progress, characteristics and needs of students, to provide them with customized learning programs and tutoring content, such as intelligent tutoring system can answer students' questions in real time, provide targeted exercises, etc. On the other hand, artificial intelligence can help teachers complete some tedious tasks, such as automatically correcting homework, generating teaching resources, etc., so that teachers have more time to pay attention to the personalized development of students, and there may be more educational tools and platforms based on artificial intelligence in the future.
2. Expansion of AR/VR technology: Virtual and augmented reality technology is expected to further enhance the learning experience of students. In science, history, geography and other disciplines, by creating a virtual learning environment, students can conduct experiments, explore historical sites or observe geographical phenomena, so that abstract knowledge becomes more intuitive and concrete, enhance the fun and participation of learning, it is expected that more educational institutions will integrate AR/VR technology into teaching. Develop a richer variety of teaching applications.
3. Upgrading of the learning management system: The learning management system will continue to improve and optimize, and pay more attention to user experience to meet the needs of students and parents. Schools and educational institutions will put higher requirements on educational technology providers to promote learning management systems with more powerful functions, such as better course management, learning progress tracking, data analysis, and home-school communication, so as to achieve efficient management of the educational process and timely sharing of information.
(2) Reform of education model
1. Promotion of interdisciplinary and project-based learning: With the increasing demand for integrated talents, interdisciplinary and project-based learning models will receive more attention. The school will break the boundaries of traditional disciplines, design more comprehensive courses and projects, cultivate students' interdisciplinary thinking ability, innovation ability and ability to solve practical problems, so that students can better understand and apply knowledge in practice. This learning mode will help improve students' comprehensive quality and better adapt to the development needs of the future society.
2. Continuous growth of online education: The continuous progress of Internet technology will promote the further expansion of the online education market. Online education not only provides a more flexible way of learning to meet the needs of different students' learning time and place, but also integrates high-quality education resources and reduces education costs. In the future, online education will continue to expand its coverage and content areas, from preschool education to higher education, from academic courses to vocational skills training, there will be more online learning options, at the same time, the quality and effectiveness of online education will continue to improve, through the introduction of more interactive teaching methods and technical means to improve students' learning engagement and learning outcomes.
(3) Optimization and integration of educational resources
1. The impact of Education savings Accounts: The promotion of education savings accounts will make family education choices more personalized and diversified, and public education spending will also be more flexible. This trend helps to optimize the allocation of educational resources, so that families can choose more suitable education methods and schools according to their own needs and children's characteristics, including private schools, online education, vocational and technical education, etc., promote the diversified development of the education market, but also may intensify the competition between educational institutions, prompting institutions to continuously improve the quality of education and service level.
2. Strengthening of cooperation between schools and enterprises: In order to improve students' employment competitiveness and adapt to market demand, the cooperation between schools and enterprises will become increasingly close. Companies will become more involved in the education process by offering internships, practical projects, guidance from industry experts, and scholarships to work with schools to develop talent that meets market demand. This mode of cooperation helps to realize the seamless connection between education and employment, improve students' professional quality and employment success rate, and also transport high-quality talents for enterprises to promote the coordinated development of education and economy.
(4) The change of teachers' roles
1. Become a facilitator and coach of learning: With the development of educational technology, the role of teachers will gradually change from the traditional knowledge imparted to the facilitator and coach of learning. Teachers will pay more attention to students' learning process and personalized development, help students to set learning goals, cultivate learning strategies, stimulate learning interests, and guide students to independent learning and inquiry learning. Teachers need to have stronger application ability of educational technology, teaching design ability and student guidance ability to adapt to the new education model and teaching requirements.
2. New demands for professional development: In order to better cope with the changes in the education industry, the professional development of teachers will face new demands. Teachers need to constantly learn and update educational concepts, teaching methods and technical application ability, participate in relevant training and further education courses, and improve their comprehensive quality and professional level. In addition, teachers also need to pay attention to the latest research results and development trends in the field of education, actively participate in the practice of education reform, communicate and cooperate with peers, and jointly promote the innovation and development of education and teaching.
(5) Promoting internationalization of education
1. Increased competition in the international student market: The global education market will become more competitive, and the U.S. education industry will face strong competition from other countries. In order to attract more international students, American schools and educational institutions need to continuously improve their educational quality and internationalization level, provide more attractive courses and services, and strengthen international exchanges and cooperation programs. At the same time, the diversity of international students will also put higher requirements on the teaching and management of American educational institutions. To promote it to pay more attention to cross-cultural education and the cultivation of students' international vision.
To sum up, while the American education industry has many advantages, it also faces a series of challenges. Through the analysis of the data, we can see the status quo and development trend of its various education stages. In the future, the development trend of technology, mode, resources, teacher role and internationalization will prompt the American education industry to continue to change and innovate to meet the needs of The Times and maintain its important position in the global education field.
Thank you for watching, I hope this report can provide you with valuable information and in-depth insight to help you have a more comprehensive understanding of the American education industry.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Kenneth558 : ok
101606705 : ok
103735746 : ok
54088 FROM RWS : 3299
Araevx1 OP Kenneth558 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Araevx1 OP 101606705 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Araevx1 OP 103735746 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")