Market Overview:
The global higher education market size reached US$ 24.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 101.5 Billion by 2032, exhibiting a growth rate (CAGR) of 17.27% during 2024-2032. The rapid technological advancements, increasing trends of globalization, imposition of government initiatives, rapid evolution of industries, increasing disposable incomes, growing strategic collaboration between universities and industries, and rising emphasis on continuous learning and professional development are some of the major factors propelling the market.
Report Attribute
|
Key Statistics
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Base Year
|
2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 24.2 Billion |
Market Forecast in 2032
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US$ 101.5 Billion |
Market Growth Rate (2024-2032) |
17.27% |
Higher education refers to the stage of learning that follows the completion of secondary education, often delivered at universities, colleges, and institutes. It includes undergraduate degrees, postgraduate degrees, vocational education, professional certifications, doctoral degrees, Certificates, and Diplomas. Higher education finds extensive application in career advancement, research activities, skill development, personal growth, networking, community development, economic growth, and technological advancement. It aids in increased earning potential, enhancing employment opportunities, improving quality of life, fostering critical thinking, promoting lifelong learning, developing leadership skills, and enriching creativity.
The rapid evolution of industries, coupled with the emergence of new sectors which require a highly skilled and educated workforce, is propelling the market growth. Additionally, the increasing disposable incomes, which are enabling more individuals to invest in higher education, are positively influencing the market growth. Apart from this, the growing strategic collaborations between universities, industries, and other educational entities to foster innovation, provide real-world experience to students, and facilitate research opportunities are contributing to the market growth. Furthermore, changing population dynamics, such as a rising number of young individuals, which contribute to higher demand for education, are strengthening the market growth. Besides this, the rising emphasis on continuous learning and professional development throughout careers, which is encouraging individuals to engage in higher education at different life stages, is supporting the market growth.
Higher Education Market Trends/Drivers:
The rapid technological advancements
Technological advancements are revolutionizing the way higher education is delivered and accessed. In line with this, the introduction of technologies, such as artificial intelligence (AI), big data, virtual reality (VR), and machine learning (ML) is providing educators with tools to create more personalized, engaging, and efficient learning experiences, which is propelling the market growth. Furthermore, the incorporation of online learning platforms that offer flexible and affordable access to courses, allowing students from various geographical locations to pursue their studies without physical constraints, is positively influencing the market growth. Additionally, the development of virtual classrooms, interactive simulations, and augmented reality (AR) applications that are enhancing traditional teaching methods, making learning more immersive and engaging is contributing to the market growth. Moreover, these technologies also enable educators to analyze student performance and tailor educational content to individual needs.
The increasing globalization
The rapid globalization leading to the interconnectivity of educational institutions across the globe is significantly impacting the higher education market. In line with this, ongoing international collaborations, cross-border educational programs, and the movement of students and faculty across countries are supporting the market growth. Furthermore, the global partnerships that are fostering academic exchange, joint research projects, and shared curricula, thereby enhancing the quality and diversity of education, are acting as another growth-inducing factor. Besides this, the increasing student access to study abroad opportunities, experience different cultures, and acquire skills that are valuable in an increasingly interconnected global economy is positively influencing the market growth. Moreover, universities are attracting international talents and diversifying their campuses, thus fostering a rich cultural environment that enhances learning.
The imposition of government initiatives
Government initiatives play a crucial role in expanding access and improving the quality of education, thus considerably impacting the higher education market. In line with this, the imposition of supportive policies, regulations, and funding programs that promote higher education institutions, students, and researchers is propelling the market growth. Furthermore, the implementation of initiatives, such as the provision of scholarships, grants, low-interest loans, and tax incentives to reduce the financial barriers to education, is positively influencing the market growth. Apart from this, the rising investment by public and private players in infrastructure, research, and technology to enhance the capabilities of educational institutions and foster innovation is contributing to the market growth. Moreover, governments are also engaging in international collaborations, aligning educational standards, and promoting mobility for students and academics.
Higher Education Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global higher education market report, along with forecasts at the global, regional and country levels from 2024-2032. 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
Solutions dominate the market
The report has provided a detailed breakup and analysis of the market based on component. This includes solutions (student information management system, content collaboration, data security and compliance, campus management, and others) and services (managed services and professional services). According to the report, solution represented the largest segment.
Solutions are dominating the market as they offer an integrated approach that combines various technologies, tools, and methodologies to address specific educational needs. Furthermore, they are designed to be customizable and adaptable to the unique requirements of different institutions, courses, and learners. This ability to tailor services and features leads to a more targeted and relevant application of technology. Apart from this, solutions emphasize achieving specific educational outcomes, such as improving student engagement, enhancing learning experiences, or streamlining administrative processes, which resonates with educational institutions' objectives and priorities. Additionally, they present a more cost-effective option for educational institutions by bundling services, tools, and support in a single package, thus reducing cost and complexity.
Breakup by Deployment Mode:
Cloud-based hold the largest share in the market
A detailed breakup and analysis of the market based on the deployment mode has also been provided in the report. This includes on-premises and cloud-based. According to the report, cloud-based accounted for the largest market share.
Cloud-based deployment mode is dominating the market as it eliminates the need for physical hardware and associated maintenance, which reduces overall costs. Furthermore, it offers the flexibility to scale up or down based on the institution's requirements, thus supporting the dynamic nature of educational needs, where the number of users or resources may fluctuate. Apart from this, cloud-based deployment enables access to educational resources from any device, which is highly beneficial for higher education, where students and faculty often need to access materials and tools from various locations, including off-campus. Moreover, it facilitates real-time collaboration among students and faculty by providing tools for document sharing, communication, and project management, thus enhancing the learning experience.
Breakup by Course Type:
- Arts
- Economics
- Engineering
- Law
- Science
- Others
Arts hold the largest share in the market
A detailed breakup and analysis of the market based on the course type has also been provided in the report. This includes arts, economics, engineering, law, science, and others. According to the report, arts accounted for the largest market share.
Arts courses are dominating the market as they encompass a wide array of subjects, including literature, history, philosophy, visual arts, and more. This diverse curriculum appeals to a broad range of students with different interests and career goals. Furthermore, they emphasize critical thinking, creativity, and problem-solving skills that are valued in many professions and resonate with students aiming to develop abilities that can be applied across different career paths. Apart from this, several universities are encouraging interdisciplinary studies, and arts courses often facilitate collaboration with other fields such as science, technology, and business. Moreover, they foster a deep understanding of culture, society, and human behavior, which resonates with the increasingly interconnected and diverse global community
Breakup by Learning Type:
Offline hold the largest share in the market
A detailed breakup and analysis of the market based on the learning type has also been provided in the report. This includes online and offline. According to the report, offline accounted for the largest market share.
Offline learning type is dominating the market as it emphasizes in-person lectures, seminars, and hands-on laboratory work. Moreover, it offers direct interaction between students and educators, which leads to more effective communication, mentoring, and personalized guidance that can enhance the learning experience. Additionally, attending a physical campus is often considered a rite of passage, as it includes extracurricular activities, social interactions, and networking, which plays a significant role in personal development. Furthermore, certain subjects, particularly in the fields of sciences and engineering, require hands-on practical work, experiments, and laboratory sessions, which are often best conducted in a physical setting. In addition, offline programs have long-standing reputations and accreditation, making them more appealing to students and employers alike.
Breakup by End User:
- State Universities
- Community Colleges
- Private Colleges
State Universities hold the largest share in the market
A detailed breakup and analysis of the market based on the end user has also been provided in the report. This includes state universities, community colleges, and private colleges. According to the report, state universities accounted for the largest market share.
State universities are dominating the market as they offer education at a lower tuition cost compared to private institutions. They receive funding and subsidies from the government, allowing them to pass the financial benefits to the students. This affordability attracts a broader spectrum of the population, leading to higher enrollment rates. Furthermore, state universities have multiple campuses or affiliated colleges spread across various regions, which makes higher education more accessible to people in different geographical areas. Additionally, they provide a wide array of programs and degrees catering to different interests, career paths, and educational needs. Moreover, state universities maintain rigorous academic standards and quality assurance.
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
North America exhibits a clear dominance, accounting for the largest higher education market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.
North America has many prestigious institutions recognized globally for their academic excellence, research output, and innovative teaching methodologies. In addition, North American universities are at the forefront of cutting-edge research and innovation, attracting significant public and private funding. This research culture fosters collaboration with industries, driving technological advancements and economic growth. Apart from this, the higher education system in North America offers a wide range of programs and degrees catering to various interests, career goals, and educational backgrounds. Additionally, the region is an attractive destination for international students, owing to the presence of English as a common language. Moreover, North America has the resources to invest in education infrastructure, faculty development, student services, and scholarships, ensuring a high standard of education.
Competitive Landscape:
Leading higher education companies are incorporating advanced technologies, such as artificial intelligence (AI), cloud computing, and virtual reality (VR), to provide personalized learning experiences, enhance teaching methods, and streamline administrative processes. Moreover, they are forming international partnerships and offering cross-border programs to reach and attract a diverse student body. Additionally, several key players are investing in cutting-edge research and fostering collaboration with industries and other academic institutions to innovate and strengthen their academic reputation. Furthermore, leading players are offering flexible learning paths, professional development courses, and continuous education programs catering to the lifelong learning trend and the needs of a changing workforce. Furthermore, they are focusing on student well-being and support services to ensure a comprehensive educational experience.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- 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.
- Xerox Corporation
Recent Developments:
- In July 2020, VMware Inc. introduced its education services in India, including training on the VMware Cloud on AWS infrastructure.
- In June 2020, SAP SE unveiled the student edition of the SAP Learning Hub, underscoring its commitment to fostering enhanced collaboration with academic institutions and research organizations.
- In June 2020, Dell Technologies Inc. signed a contract with the University of Pisa, Cardiff University, and the University of Cambridge to enhance its data-centric research.
Higher Education Market Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Scope of the Report |
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Component
- Deployment Mode
- Course Type
- Learning Type
- End User
- Region
|
Components Covered |
- Solutions: Student Information Management System, Content Collaboration, Data Security and Compliance, Campus Management,Others
- Services: Managed Services, Professional Services
|
Deployment Modes Covered |
On-premises, Cloud-based |
Course Types Covered |
Arts, Economics, Engineering, Law, Science, Others |
Learning Types Covered |
Online, Offline |
End Users Covered |
State Universities, Community Colleges, Private Colleges |
Regions Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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., Xerox Corporation., etc. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the higher education market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global higher education market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the higher education industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.