The education industry is not just restricted to these categories. It also includes ancillary education services, such as after-school tutoring, charter schools, special or alternative education, educational content suppliers and professional development of administrators and teachers.
Education has been practiced since time immemorial to instill social and cultural values. In the ancient times, the education system was verbal, carried out generally by the elders of the family. The writing system developed around 3500 BC, enabling the recording and sharing of information. In most ancient societies, the state of literacy was bleak for centuries.
The education industry was initially associated with law, trade and commerce, religion and civil administration. Formal education was available to only a small fraction of the population. The system developed in most countries after 1850 CE.
The modern education industry consists of training by professionals and organized instructions with respect to systematic curricula and pedagogy.
The demand drivers of the education sector include:
The supply drivers of the industry include:
Among the premiere colleges across the world, the Ivy League colleges of the US hold an important position. This category of colleges includes Brown, Cornell, Columbia, Dartmouth, Harvard, Pennsylvania, Princeton and Yale.Science, business (particularly Masters of Business Administration or MBA) and accounting degrees continue to be popular course choices.