Higher Education Market

Market Overview:

The global higher education market size reached US$ 20.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 61.1 Billion by 2028, exhibiting a growth rate (CAGR) of 20.2% during 2023-2028.

Higher education refers to the final stage of formal learning occurring after the completion of secondary education. It consists of all training, post-secondary education, and research guidance at educational establishments that are authorized as institutions of higher education by state authorities. Higher education is provided in a variety of educational institutions, including colleges, seminaries, universities, academies, and at certain college-level institutions, such as trade schools, vocational schools, and other degree-granting institutions. It also includes activities on research, teaching and social services that assist in personal development, career specialization and preparation, social recognition, identifying new skills, improving self-esteem and self-confidence, and developing critical thinking.

Higher Education Market Trends:

The increasing number of student enrolments across the globe is creating a positive outlook for the market. In line with this, enterprises and organizations are constantly preferring to hire individuals with specialized higher education degrees that can help them to adapt to rapidly changing technological advancements. Additionally, the increasing demand for higher education due to the advent of globalization and the rising number of students traveling internationally for education purposes is favoring the market growth. Apart from this, the integration of artificial intelligence (AI) and the Internet of Things (IoT) in higher education systems to automate personalized adaptive learning, increase language affinity learning ability, and improve learning pace, are providing an impetus to the market growth. Moreover, the emergence of collaborative and e-learning solutions due to the availability of high-speed internet connectivity and personal computing devices is positively impacting the market growth. Other factors, including rapid digitization in the education sector, rising expenditure capacities of consumers, and the implementation of various government initiatives offering scholarship programs, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global higher education market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment mode, course type, learning type and end user.

Breakup by Component:

• Solutions
  • Student Information Management System
  • Content Collaboration
  • Data Security and Compliance
  • Campus Management
  • Others
• Services
  • Managed Services
  • Professional Services
     

Breakup by Deployment Mode:

• On-premises
• Cloud-based
   

Breakup by Course Type:

• Arts
• Economics
• Engineering
• Law
• Science
• Others
   

Breakup by Learning Type:

• Online
• Offline
   

Breakup by End User:

• State Universities
• Community Colleges
• Private Colleges
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Anthology Inc., Blackbaud Inc., Cisco Systems Inc., Dell Technologies Inc., Ellucian Company L.P., Instructure Inc., Oracle Corporation, Pearson plc, SAP SE, ServiceNow Inc., Verizon Communications Inc., VMware Inc. and Xerox Corporation.

Report Coverage: