Higher Education Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Higher Education Market is segmented By Type of Learning Mode (Offline Learning, Online Learning), By Hardware Device (Tablets, PCs, Interactive White Boards, Projectors, Printers, Others), By Software Solution (Data Security & Compliance, Campus Technology, Performance Management, Content & Collaboration, Others), By Service Sector (Implementation, Training, Support, Consulting & Advisory, Others), By End-User (Private Colleges, State Universities, Community Colleges), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Higher Education Market Overview

The Global Higher Education Market is predicted to reach at a high CAGR during the forecast period (2023-2030). Higher education, also recognized as post-secondary education, tertiary education, is an arbitrary final stage of formal learning after finishing secondary education. It consists of all post-secondary education, practice and research supervision at education institutions authorized as higher education institutions by state officials. Higher education is presented at several educational institutes such as colleges, academies, seminaries, universities, institutes of technology, and through college-level institutions, including trade schools, vocational schools and other career colleges granting degrees.

Globally, higher education registration has observed a growth trajectory. However, the bulk of this increase is driven by middle-income countries, whereas high-income countries have seen an inactive trend. The growing number of student enrolments is anticipated to boost the higher education market at a global level. Additionally, growing internationalization in the education sector is a significant contributor to the growth of the market.

Higher Education Market Scope and Summary

Higher Education Market Dynamics and Trends

The increasing inclination of consumers towards water treatment, agrochemical & pharmaceuticals due to stringent regulation is triggering the demand for higher education in recent times. Growing demand for water-soluble fertilizers creates a strong opportunity for the higher education market growth.

Institutions aim for magnifying the enduring educational ecosystem to reshape the market aspect

The higher education market has developed over the last two decades and is now expanding rapidly. The abundance of players in this business is growing in public & private education, institutions and testing companies, departments of education & government agencies. Educational institutions are becoming more perceptive to the adoption of technological segments. Technology in education plays a significant role in providing students and educators to communicate and avail forthcoming learning opportunities.

Moreover, the extremely competitive landscape of this industry is enticing institutes to improve their teaching and campus environments. Organizations are frequently spending money to use advanced Ed-tech solutions to improve educational quality. The trend of modernization is commencing to reforms by organizing institutions to allow students and faculties to be more engaged participants. In February 2020, the Royal College of Surgeons launched Campus Nexus Engage, a system of intelligence to expand lifecycle communications with prospects & students.

Additionally, the rise of open education resources is further stimulating the adoption of intelligent technologies. Developing the 'personalized learning experience' idea also drives the demand for institutional systems to upgrade. The increasing approval of online learning, blended learning and e-learning approaches supports a technological increase in education.

The growing conception of online teaching-learning methods is anticipated to boost the market growth

Online learning has commenced gaining much pace in the higher education sector. The availability of high-speed internet, low-cost data revolution, rising usage of personal computing devices and governments' digital push are the key factors boosting the demand for online learning platforms. The trend of distance learning across North American countries has significantly stimulated online teaching-learning approaches. Various institutes have commenced employing students for partial or fully online educational plans at the institutional level. As per the 'Online Education in 2019' report published in September 2019 by Northeastern University, 1.44 million students were enrolled in online four-year undergraduate programs, 773,999 in two-year programs, and 868,998 for graduate-level courses. Apart from this, the COVID-19 pandemic has strengthened the assistance for online coaching.

Deficient of state funding and higher tuition fees is expected to hinder the market growth

Deficient government funding reinforces institutes to collect revenues and make expenditures through the fees obtained from students. Many colleges, universities and institutes have commenced creating revenues from tuition fees rather than state funding. Besides, the swiftly changing educational culture is compelling organizations to grow their expenses to improve their infrastructures & services. However, the increasing demand for raising tuition charges puts huge stress on students. This factor is expected to affect the number of entries and thus the overall market growth. Thus, the rising amount of tuition fees is influencing the number of students' enrolments in institutes.

Higher Education Market Segmentation Analysis

By software solutions, the market is segmented into data security and compliance, campus technology, performance management, content and collaboration and others.

The market has been classified into software solutions, hardware devices, and the service sector based on components. The hardware division presently holds a significant market share, while the software solution division is anticipated to present strong growth during the forecast period. Projectors, laptops, tablets, interactive whiteboards, smartphones, printers, PCs and other individual computing devices have become primary components of advanced educational systems. As per the report advertised in April 2019 by the Government of the UK, each year, schools in England spend about US$ 13 billion on non-staff expenses, and of these, US$ 608 million is paid on learning hardware and software. Apart from this, the approval of modern learning approaches such as virtual classrooms, e-learning, distance learning, mobile learning and others are increasing the demand for educational hardware and software.

Moreover, the campus management systems & learning management systems sub-segments hold a dominant market share and are expected to increase fast. The growing demand for dynamic response & centralized operational management systems at campuses boosts the demand for campus management systems. In addition, progressive strategies towards online training and learning also support the demand for learning management systems, for instance, in April 2020. Cornerstone OnDemand declared that its LMS platform used almost 27.S billion user hours during March 2020. Consulting & training services are also expected to drive market growth during the forecast period.

Global Higher Education Market Geographical Share

Based on the geography, the higher education market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The demand for higher education in the North American market is expected to remain at the dominant position in sales and value generation due to the growing volume of trade and e-commerce in countries such as the U.S.

North America dominates the higher education market during the forecast period

North America dominates the market share, creating US$ 368.20 billion in revenues in 2019. Additionally, this dominance has been associated with the significant spending on the teaching sector in the region. The United States has estimated an education hub with the largest number of universities & institutions globally. Important investments in educational technologies are boosting market growth across the United States. In addition, governmental endeavors to broaden the education aspect at the international level are also driving the regional market. Technological advancements in the education sector are predicted to assure promising growth in the North American market.

Europe is anticipated to gain a substantial share in the global market as the region showcases a significant rise in the number of foundations. European institutions have modified their learning & teaching approaches in response to the dynamic demand and societal & technological advancements. Growing prospects towards superior learning approaches are anticipated to drive market growth across Europe. The regional organizations are concentrated on developing collaborations, structural reforms, mobility and developing international visibility.

Moreover, the APAC is witnessing huge growth due to the growing importance of higher education in the region. Education has become a necessary element for Asian countries to support sociological & economic development. Ongoing digitization over various countries is stimulating the demand for advanced teaching-learning strategies in the APAC. Governments in several Asia-Pacific countries, including India, Japan, Malaysia and Australia, support online learning methods, further increasing market value. Developing IT infrastructure, approval of modern educational culture and governmental assistance are the key factors driving this market across the APAC.

Higher Education Market Companies and Competitive Landscape

The higher education market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. Oracle, SAP, Dell Technologies, VMware, Xerox, ServiceNow, Cisco, Verizon, Blackboard, Civitas Learning are the major player in the ICT market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the Higher Education market globally.

Oracle

Overview: 

Higher education faces unparalleled disruption, and student expectations are developing at the rate institutions are challenged to match. Moreover, Success needs a completely new kind of student information system (SIS). Oracle Student Cloud. Oracle Cloud is a resolution built from the ground up to promote lifelong learning from pre-collegiate through continuing education, graduate, undergraduate and beyond, all on a single, extensible floor. They are powered by artificial intelligence (AI), collaboration tools and consumer-market design elements. Oracle Student Cloud dramatically transforms the student experience at every stage of the lifecycle, including financial assistance.

Product Portfolio: 

Oracle Student Cloud: Promoting Innovation in Higher Education

• The only total, cloud-native student solution available on the market
• Financial service solution delivers game-changing productivity through real-time synchronization with third-party data sources
• Flexible architecture maintains lifelong learning, including term, nonterm, continuing, and competency-based education
• Reliable and sustainable infrastructure protects institutional data and ensures reliable performance
• Powerful AI and conversational interfaces drive a singular focus on improving student outcomes
• Modular design allows institutions to chart their path to the cloud, accelerating access to innovation while reducing business disruption

Key Development:

• On 05 August 2021, 5G Is Arriving, and Not a Moment Too Soon for Enterprises
• On 04 August 2021, Oracle Collaborates with The Global Disinformation Index to Help Safeguard Ad Spend

The global Higher Education market report would provide an access to an approx. 77 market data table, 78 figures and 180 pages.