Higher education can lead to many benefits, including a prosperous career and financial security. In the 21st century, education plays an even more significant role in other aspects of an individual’s life. Attaining a higher education can increase a person’s opportunities and improve overall quality of life.
Today, higher education institutes are integrating technology with theory and practice to identify best method to achieve the defined learning objectives and outcomes. Many institutes around the world are adopting different tools and modes to transform their teachings, these include online learning, workshops, blended learning among many others.
The global higher education market size is predicted to reach over USD 63 billion by 2028. This can be ascribed to the increasing enrollments around the world. Besides, the growing collaboration between institutions and enterprises is another factor driving the market growth for higher education.
However, the privacy concerns and increasing cost of education are some of the factors which are expected to restrain the market growth.
Higher Education Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 63.5 billion|
|Growth Rate||CAGR of 21% during 2021-2028|
|Segment Covered||Component, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Oracle, SAP, Dell Technologies, VMware, Xerox, ServiceNow, Unifyed, Ellucian, Hyland Software, Blackbaud, Cisco, Verizon, Blackboard, Civitas Learning, Remind, Instructure and Anthology.|
Key Segments of the Global Higher Education Market
Component Overview, 2019-2028 (USD Billion)
Application Overview, 2019-2028 (USD Billion)
Regional Overview, 2019-2028 (USD Billion)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global higher education market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
The study on the global Higher Education market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Higher Education industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on type, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Higher Education market. The report will benefit Every stakeholder involved in the Higher Education market.
- Managers within the Higher Education industry looking to publish recent and forecasted statistics about the global Higher Education market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Higher Education market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
The growth of competition in higher education market around the globe is expected to provide substantial market growth. Moreover, the increasing number of educational institutes is helping increase the number of enrollments which in turn is adding to the market’s growth . In addition to this, the growing collaboration of educational institutes with enterprises, particularly to impart online education is fueling the market growth too. These factors are helping the market grow. The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Based on the component segment, the market is classified into hardware, software, and services. The hardware segment is predicted to hold the major share of the market while the services segment is expected to witness rapid growth. This is owing to the increased demand for hardware like PCs, laptops, projectors, tablets, smartphones among others..
Based on the application, the market is segmented into on-premise, and cloud-based. In 2020, the cloud-based segment captured the major part of the total market. The said segment is likely to remain the largest segment owing to perceived benefits of cloud deployment model such as scalability and increasing penetration of smart mobile devices.
The North American region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the increasing demand from online education tools, high number of education institutes, and market maturity. However, the Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the Higher Education market in this region is mostly ascribed to the growth in number of people taking up higher education in countries such as India, Japan, and China.
The major players of the global higher education market are Oracle, SAP, Dell Technologies, VMware, Xerox, ServiceNow, Unifyed, Ellucian, Hyland Software, Blackbaud, Cisco, Verizon, Blackboard, Civitas Learning, Remind, Instructure and Anthology. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.