Higher Education Market Report by Component (Solutions, Services), Deployment Mode (On-premises, Cloud-based), Course Type (Arts, Economics, Engineering, Law, Science, and Others), Learning Type (Online, Offline), End User (State Universities, Community Colleges, Private Colleges), and Region 2024-2032

Higher Education Market Report by Component (Solutions, Services), Deployment Mode (On-premises, Cloud-based), Course Type (Arts, Economics, Engineering, Law, Science, and Others), Learning Type (Online, Offline), End User (State Universities, Community Colleges, Private Colleges), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A5588
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Higher Education Market Size:

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. Rapid technological advancements, increasing globalization, favorable government initiatives, rising disposable incomes, growing strategic collaboration between universities and industries, and focus on continuous learning are some of the major factors impelling the higher education market growth.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 24.2 Billion
Market Forecast in 2032
US$ 101.5 Billion
Market Growth Rate (2024-2032) 17.27%


Higher Education Market Analysis:

  • Major Market Drivers: There is an increase in the awareness among individuals about the importance of higher education. The rising cross-border collaborations among institutions are some higher education market growth drivers.
  • Key Market Trends: Integration of advanced technologies and favorable government initiatives are stimulating the market growth.
  • Geographical Trends: North America holds the biggest market share owing to rising educational universities. Nonetheless, Asia Pacific maintains a strong presence in the market, driven by rapid digitalization in the education sector.
  • Competitive Landscape: Some of the top market players in the higher education industry analysis are 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., among many others.
  • Challenges and Opportunities: Governance and regulatory compliance represent challenges in the market. Nonetheless, the rising focus on personalized learning experiences is presenting higher education market opportunities.
     

Global Higher Education Market Report


Higher Education Market Trends:

Integration of advanced technologies

There is a rapid incorporation of artificial intelligence (AI), big data, virtual reality (VR), and machine learning (ML) in the higher education sector. This is benefiting educators to create more personalized and engaging learning experiences, thereby offering a positive higher education industry outlook. In line with this, the introduction of online learning platforms provides flexible and affordable access to courses that allow learners from various geographical locations to continue their studies without physical constraints. This, coupled with development of virtual classrooms, interactive simulations, and augmented reality (AR) applications to enhance conventional teaching methods, is bolstering the market growth. For instance, Pearson expanded the availability of its generative AI beta to millions of students in leading math, science, and business titles on 14 December 2023.

Rapid globalization

International collaborations and cross-border educational programs worldwide are supporting the market growth. In addition to this, academic exchange, joint research projects, and shared curricula enhance the quality and diversity of education. Besides this, the easy accessibility to study abroad, experience different cultures, and acquire skills in an interconnected global economy is impelling the market growth. Furthermore, universities are attracting international talents and diversifying their campuses that allow individuals from various regions to grab higher education. On 5 October 2023, Ellucian declared an agreement to acquire Tribal Group plc, a UK-based enterprise resource planning (ERP) and customer relationship management (CRM) software and services provider to the education sector. This allows Ellucian to provide improved products and support across various geographies while expanding its user base.

Favorable government initiatives

Government initiatives are playing a crucial role in expanding access and improving the quality of education. In addition, governing authorities are introducing funding programs that promote higher education among individuals worldwide. They are also providing scholarships, grants, low-interest loans, and tax incentives to reduce the financial barriers of education on learners. Apart from this, the rising investment by public and private players in infrastructure, research, and technology to enhance the capabilities of educational institutions fosters innovation in the market. Moreover, governments are also engaging in international collaborations, aligning educational standards, and promoting mobility for students and academics. On 12 December 2023, Oracle signed a Memorandum of Understanding (MOU) with the Ministry of Higher Education, Scientific Research and Innovation, and the Ministry of Digital Transition and Administrative Reform. The MoU brings together the classroom to career learning resources and curriculum of Oracle Academy to all higher education institutions in Morocco alongside Oracle University providing complementary professional digital learning journeys and certifications accessible from a dedicated Learning Portal.

Higher Education Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecast at the global, regional, and country levels from 2024-2032. Our higher education market report has categorized the market based on component, deployment mode, course type, learning type, and end user.

Breakup by Component:

Higher Education Market

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

Solutions account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the 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, solutions 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. They are customizable and adaptable to the unique requirements of different institutions, courses, and learners. Apart from this, 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. On 8 April 2024, Ellucian launched ‘Ellucian Intelligent Processes (EIP)’ a new platform workflow solution that streamlines operational processes of higher education across departments.

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based
     

Cloud-based holds the largest share of the industry

A detailed breakup and analysis of the market based on the deployment mode have 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 eliminates the need for physical hardware and associated maintenance by enabling access to educational resources from any device. It also facilitates real time collaboration among students and faculty by providing tools for document sharing, communication, and project management, thus increasing the learning experience. The University of Tennessee (UT) System extended its use of Oracle Cloud by implementing Oracle Fusion Cloud Student on 10 October 2023. The UT System aims to streamline processes to make it easier for students to get the classes, financial aid, and support they need to succeed from enrollment for higher education.

Breakup by Course Type:

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

Arts represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the course type. This includes arts, economics, engineering, law, science, and others. According to the report, arts accounted for the largest market share.

Arts courses include literature, history, philosophy, visual arts, and more, which appeals to a broader student with different interests and career paths. They emphasize critical thinking, creativity, and problem-solving skills that can be applied across different career paths. Apart from this, educational universities are encouraging interdisciplinary studies, and arts courses often facilitate collaboration with other fields such as science, technology, and business. EQT declared that the EQT Infrastructure VI fund (EQT) acquired a majority position in Universidad Europea from Permira on 8 April 2024. Universidad Europea is a leading private higher education platform in Spain and Portugal, which operates in 12 campuses and offers in-person and online modalities in sports, social sciences and science, technology, engineering, the arts, and mathematics (STEAM) subjects.

Breakup by Learning Type:

  • Online
  • Offline
     

Offline exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the learning type have 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. As per the India Brand Equity Foundation (IBEF), the number of colleges in India reached 43,796 in the financial year 2021, thereby showcasing growth in physical learning platform.

Breakup by End User:

  • State Universities
  • Community Colleges
  • Private Colleges
     

State universities dominate the market

The report has provided a detailed breakup and analysis of the market based on the end user. 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. On 16 May 2023, Monash University partnered with Oracle to offer a new, customised, hands-on learning program for Monash Business School undergraduate students to ensure they enter the workforce with the skills they need in the digital world.

Breakup by Region:

Higher Education Market

  • 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
     

North America leads the market, 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); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, 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 higher ed market 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. On 26 May 2021, IBM and The Grainger College of Engineering at the University of Illinois Urbana-Champaign, which is located in the United States, launched a large-scale collaboration. The partnership is designed to increase access to technology education and skill development, especially in growing areas like hybrid cloud and AI and quantum information science and technology.

Competitive Landscape:

  • The higher education market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the higher education industry 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.
  • Leading higher education companies are incorporating advanced technologies, such as AI, cloud computing, and 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 in higher education market research are engaging in collaboration with industries and other academic institutions to innovate and strengthen their academic reputation. Furthermore, leading players are adopting higher education marketing strategies, such as 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. On 13 September 2021, Anthology announced a definitive agreement with Blackboard, a leading global EdTech software and solutions company, to create a comprehensive and modern EdTech ecosystem available on a global scale.


Higher Education Market News:

  • 25 January 2023: Harvard University and the Royall House and Slave Quarters in Medford, Massachusetts unveiled an agreement to strengthen their collaboration on future research and educational programming.
  • 23 September 2021: Veranda acquired Edureka for INR 245 crore to accelerate in the edtech sector. Edureka is a live-instructor-led online solutions provider for the information technology (IT) industry.
  • 19 July 2021: Blackstone acquired a majority stake in an edtech startup Simplilearn, headquartered in Bangalore and San Francisco for US$ 250 Million. Simplilearn has partnerships with several universities and colleges like Caltech and Purdue University.


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 Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Higher Education Industry Future Trends:
  • 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.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
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 industry 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 report 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 assists 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.
  • The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.

Key Questions Answered in This Report

We expect the global higher education market to exhibit a CAGR of 17.27% during 2024-2032.

The growing integration of AI and IoT technologies with higher education systems to automate personalized adaptive learning, increase language affinity learning ability, and improve learning pace, is primarily driving the global higher education market.

The sudden outbreak of the COVID-19 pandemic has led to the rising deployment of e-learning solutions for higher education classes to upgrade their knowledge and skills, during the lockdown scenario across several nations.

Based on the component, the global higher education market can be segmented into solutions and services. Currently, solutions hold the majority of the total market share.

Based on the deployment mode, the global higher education market has been divided into on-premises and cloud-based, where cloud-based currently exhibits a clear dominance in the market.

Based on the course type, the global higher education market can be categorized into arts, economics, engineering, law, science, and others. Among these, arts account for the majority of the global market share.

Based on the learning type, the global higher education market has been segregated into online and offline, where offline currently holds the largest market share.

Based on the end user, the global higher education market can be bifurcated into state universities, community colleges, and private colleges. Currently, state universities exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global higher education 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., and Xerox Corporation.

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Higher Education Market Report by Component (Solutions, Services), Deployment Mode (On-premises, Cloud-based), Course Type (Arts, Economics, Engineering, Law, Science, and Others), Learning Type (Online, Offline), End User (State Universities, Community Colleges, Private Colleges), and Region 2024-2032
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