Pune, India, Aug. 17, 2022 (GLOBE NEWSWIRE) — Global Higher Education Technology Market size is expected to gain momentum by reaching USD 169.72 billion by 2028 while exhibiting a CAGR of 10.3% between from 2022 to 2028. In its report titled “Higher Education Technology Market Share2022-2028,” Fortune Business Insights notes that the market will be at USD 77.66 billion in 2020. Higher Education Technology Market Size, Share and Impact Analysis, By Segment (Hardware, Solutions, and Services), By Learning Mode (Offline Learning, and Online Learning), By End-user (Private Colleges, Community Colleges, and State Universities), and Regional Forecast, 2022-2028
Industrial Development
- July 2020 – Announced by Blackboard Inc. the launch of Blackboard Retention Coaching. It is a data-driven, scalable, and proactive student retention solution that will enable institutes to facilitate personalized coaching and early student intervention.
- September 2020: 2U, Inc. has collaborated. at Colgate University’s Task Force on Remote Learning and the Center for Learning, Teaching and Research. Under the partnership, the university will access 2U’s course production and development, technology, and support services bundle called 2UOS to deliver a hybrid learning experience in select courses.
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In this modern technological world, many institutes and universities are using unique methods to revolutionize teaching. They combine technology with theory and practical learning to bring out the best output from students to tackle real world problems. Many universities are seeking help from tech giants by joining forces or partnering with them to promote higher education. For example, in June 2021, the University of Illinois Urbana-Champaign Grainger College of Engineering announced a partnership with IBM Corporation to strengthen the college’s workforce and research development in various fields such as AI/ML, quantum information technology , and environmental sustainability. . Such initiatives are expected to drive the growth of the market.
Report Scope:
| Report Scope | Details |
| Forecast Period | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR | 10.3% |
| 2028 Value Projection | USD 169.72 Billion |
| Base Year | 2019 |
| Higher Education Technology Market Size in 2020 | USD 77.66 Billion |
| Historical Data for | 2017 to 2019 |
| Number of Pages | 140 |
Drivers and Restraints
Adoption of Digitization by Educational Institute to Favor Market Growth
- Education is given more importance today, thus becoming an important element for people to enroll themselves in college. Continued digitization in various countries is fueling the demand for advanced teaching-learning techniques, which in turn is driving the growth of the Higher Education Market.
- On the other hand, many countries still face problems in adopting advanced study programs due to low education funding in the region. Apart from the rapidly changing educational culture, high tuition fees are the main obstacles in the market.
Regional Perspectives
North America Will Remain Dominant Supported by the Presence of Large Ivy League Colleges
North America held the largest share of the Higher Education Technology Market in 2020 and is expected to remain ahead during the forecast period. This is due to the presence of leading institutions and colleges in the world, such as the Ivy League colleges in the US Moreover, the government has invested heavily in the education infrastructure in the region.
The Higher Education Market in Europe is expected to gain traction supported by the increasing number of educational institutions that will drive the demand for advanced technology in higher education in the coming years.
Market Segmentation:
By segment, the Higher Education Market is trifurcated into hardware, solutions, and services. Based on the learning mode, it is divided into offline learning and online learning. By end-user, it is divided into private colleges, community colleges, and state universities.
Based on end-user, the private college segment held a market share of 25.3% in 2020. This is due to the increase in the number of private institutions and universities.
Finally, based on region, this market is categorized into North America, South America, Europe, Middle East & Africa, and Asia Pacific.
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Restraining Factor
Increasing Unaffordability of Higher Education to Stifle Market Growth
Pursuing an undergraduate and graduate degree has become progressively more expensive over the past few decades worldwide, negatively affecting the growth of the higher education market. According to the American think-tank, Center on Budget and Policy Priorities (CBBP), between 2008 and 2018, the average tuition fee at four-year public colleges increased in all 50 states in the US. Tuition on average rose 37% and net costs that include scholarships and grants grew 24%, according to CBBP data. Another issue arising from the rising costs of higher education is the huge debt burden that students have to deal with when they graduate. In the UK, for example, the average student debt is USD 30,800, while in Sweden it is USD 20,000. However, investing in higher education remains a worthwhile prospect for students because, according to the World Bank, advanced degrees help students earn higher incomes compared to to high school graduates.
Competitive Landscape
Key Players to Focus on New Launches to Strengthen Their Market Positions
The Higher Education Market is consolidated by large companies that strive to maintain their position by focusing on providing customized and effective solutions as per the requirements of the students. Besides, major market players are focusing on launching their new branches, partnerships, and collaborations with educational institutions to expand their business portfolio.
Top Key Players Profiled in the Market for Higher Education Technology Report:
- Oracle Corporation (California, United States)
- Astera Software (California, United States)
- VMware, Inc. (California, United States)
- ServiceNow, Inc. (California, United States)
- United (Chicago, Illinois)
- Blackbaud, Inc (South Carolina, United States)
- Cisco Systems, Inc. (California, United States)
- Verizon (New York, United States)
- Blackboard Inc. (Washington, DC, United States)
- CDW LLC. (Lincolnshire, Illinois)
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Key Points in TOC:
- Global Higher Education Technology Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled
- Overview
- Key Management
- Headquarters etc.
- Business Offerings/Segments
- Basic Specifications
- Employee Size
- Basic Finance
- Past and Current Income
- Geographical Part
- Part of the Business Segment
- Recent Developments
- Overview
- Annexure / Appendix
- Global Higher Education Technology Market Size Estimates and Forecasts and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Share (USD)
- Hardware
- PCs/Laptops
- Tablets/ Smartphones
- Projectors
- Interactive White Boards
- Printers
- Different
- Solutions
- Student Information System
- Learning Management System
- Student Response System
- Campus Management
- Performance Management
- Other (Content and Collaboration, Data Security and Compliance, etc.)
- Services
- Consulting and Counseling
- Implementation
- Training and Support
- Hardware
- Via Learning Mode (USD)
- Offline Learning
- Online learning
- By End User (USD)
- Private Colleges
- Community Colleges
- State Universities
- By Region (USD)
- North America
- Europe
- Asia-Pacific
- Middle East and Africa
- South America
- By Share (USD)
- North America Higher Education Technology Market Size Estimates and Forecasts (Volume Data), By Segments, 2017-2028
- Europe Higher Technology Education Market Size and Forecasts (Volume Data), By Segments, 2017-2028
- Global Higher Education Technology Market Size Estimates and Forecasts and Forecasts (Quantitative Data), By Segments, 2017-2028
TOC continued…!
FAQs:
- How Big is the Higher Education Technology Market?
The global higher education market is expected to reach USD 169.72 billion by 2028, showing a CAGR of 10.3% during the forecast period [2022-2028].
- What is the size of the education market?
In 2020, the market size is worth USD 77.66 billion.
3. Which Country is expected to have the highest market share?
The US is expected to hold the highest market share.
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