IMARC Group’s latest report, titled “India Higher Education Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India higher education market is expected to exhibit a CAGR of 10.30% during the forecast period (2022-2027). Higher education comprises all post-secondary education, training, and research guidance at educational institutions approved by state authorities. It is an optional final stage of learning that takes place after the completing secondary education. It is generally provided at colleges, universities, academies, and certain college-level institutions, including trade schools, vocational schools, and other degree-granting establishments. It combines practical and theoretical studies and involves activities on research, teaching, and social services that facilitate personal development, career specialization and preparation, and social recognition. In India, higher education is gaining immense popularity among the masses as it assists in identifying new skills, enhancing self-esteem and self-confidence, and developing critical thinking.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Higher Education Market Trends:
In India, the rising number of student enrolments coupled with the development of new colleges and universities represents the primary factor driving the market growth. Besides this, the growing popularity of collaborative and e-learning solutions due to the availability of high-speed internet connectivity and personal computing devices has augmented the product demand. Furthermore, the Government of India is introducing supportive policies, such as the National Accreditation Regulatory Authority Bill for Higher Education, Unnat Bharat Abhiyan, and SWAYAM Prabha, to promote higher education in India. Along with this, the rising preference for hiring individuals with higher education degrees that can help them adapt quickly to the rapidly changing business environment in the country is positively influencing the market growth. Apart from this, the launch of massive open online courses (MOOCs) and the surging penetration of digitalized solutions in the education sector are other major growth-inducing factors. Additionally, there has been widespread integration of innovative technologies, such as artificial intelligence (AI) and the Internet of Things (IoT), with higher education systems to automate personalized adaptive learning, enhance learning pace, and improve language affinity. In line with this, the increasing adoption of intercultural and international dimensions by various Indian universities for better quality assurance of the entire education system has catalyzed market growth. This is further supported by extensive public and private investments to upgrade the overall education infrastructure and the easy availability of a vast range of specializations and scholarship programs. Other factors, including the advent of microlearning modules, rapid digitization in the education sector, rising levels of globalization, improving literacy rates, and inflating consumer expenditure capacities, are creating a favorable market outlook.
- Based on the type, the market has been segmented into deemed-to-be-universities, central universities, state universities, state private universities, autonomous colleges, institutes of national importance, and others.
- On the basis of the affiliation, the market has been categorized into university/university level institutions, colleges/institutions - affiliated/recognized with university, standalone institutions – not affiliated/recognized with university, and others.
- The market has been divided based on the courses offered into graduate, post-graduate, diploma, certifications, PhD, and others.
- Based on the mode of education, the market has been classified into regular, part-time, distance, and others.
- On the basis of gender, the market has been bifurcated into male and female.
- Region-wise, the market has been segregated into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has also been examined, along with the detailed profiles of key players operating in the industry.
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