Higher Education Market Outlook 2031
The global higher education market size was valued at USD 20.09 Billion in 2022 and is projected to reach USD 112.53 Billion by 2031, expanding at a CAGR of 21.1% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing number of public and private institutions, government agencies, ministries of education, and testing and education companies.
Higher education is known as post-secondary education. It is considered a final stage of formal learning that takes place after secondary education. Higher education is offered by several educational institutions such as colleges, universities, academics and institutes of technology, seminaries, trade schools, vocational schools, and several other career colleges. Higher secondary education consists of training & research guidance and post-secondary education.
Higher Education Market Dynamics
Major Drivers
M-learning and E-learning are two major higher education modes, which drive the market. Increased connectivity & hardware, the privacy of cloud-based resources, the importance of collaborative & online learning, and personalization of technology are projected to fuel the market. Factors such as strategic alliance, new technological developments, ease of deployment, and partnership are expected to drive the market.
Existing Restraints
Decreased government funding, high education costs, and difficulty in adopting server-based computing act as a barrier to market growth.
Emerging Opportunities
Rising popularity of mobile learning and electronic learning is driving the market. Rising number of student enrollments in K-12 educational institutions is a major factor boosting the market.
Scope of Higher Education Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Higher Education Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Software (Data Security & Compliance, Performance Management, Campus Technology, Content & Collaboration, Student & Curriculum, and Other Solutions), Hardware (Projectors, Printers, Tablets, Interactive White Boards, and Pcs), and End-User (State Universities, Private Colleges, and Community Colleges)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Panasonic Corporation, Adobe Corporation, Three River Systems, Cisco Systems, Inc., Educomp Solutions, Xerox Corporation, Blackboard, Inc., Oracle Corporation, Dell, Inc., IBM, Smart Technologies, Inc., and Desire2Learn Inc.
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Higher Education Market Segment Insights
Software Segment Analysis
Based on software, the global higher education market is segregated into data security & compliance, performance management, campus technology, content & collaboration, student & curriculum, and other solutions. Higher education solutions offer an application development environment for IT developers to design, deploy, execute, and develop applications.
The student & curriculum software helps higher education institutes to generate revenue and increase their market share. It helps institutions make firm decisions and gain profits. The performance management segment is projected to hold a major market share of the total revenue during the forecast period.
Hardware Segment Analysis
On the basis of hardware, the global higher education market is fragmented as projectors, printers, tablets, interactive white boards, and Pcs. The PCs segment is expected to expand at a high CAGR during the forecast period. Acceptance of modern learning technology such as virtual classrooms, E-learning, distance learning, and mobile learning is driving the segment.
End-users Segment Analysis
In terms of end-user, the global higher education market is classified as state universities, private colleges, and community colleges. The state university segment is expected to expand at a robust CAGR during the forecast period. The cost of education in state universities is inexpensive as compared to other segments, which encourages youth to opt for university education after higher education. The private college market is likely to grow at a rapid pace during the forecast period.
Regional Analysis
In terms of region, the global higher education market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Increased focus on student retention and acquisition rates in the region are expected to drive the market in North America. The rising adoption of Bring Your Device (BYOD) between teachers and students is projected to boost the regional market
Moreover, high investments in modern technologies by educational institutes are estimated to fuel the market. The US is the primary choice of most students for higher education, as the region consists of several old universities such as Princeton and Harvard.
The market in Asia Pacific is expected to expand at a high CAGR during the forecast period. China is the primary exporter, producer, and investor in the higher education market. The growth of the region is attributed to economic growth and joint trade patterns. Rapid growth in the quality of higher education institutions and the increasing popularity of universities in Germany, the UK, and France has driven the market in Europe.
Segments
The global higher education market has been segmented on the basis of
Software
- Data Security & Compliance
- Performance Management
- Campus Technology
- Content & Collaboration
- Student & Curriculum
- Other Solutions
Hardware
- Projectors
- Printers
- Tablets
- Interactive White Boards
- Pcs
End-User
- State Universities
- Private Colleges
- Community Colleges
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Panasonic Corporation
- Adobe Corporation
- Three River Systems
- Cisco Systems, Inc.
- Educomp Solutions
- Xerox Corporation
- Blackboard, Inc.
- Oracle Corporation
- Dell, Inc.
- IBM
- Smart Technologies, Inc.
- Desire2Learn Inc.
Competitive Landscape
Key players in the global higher education market include Panasonic Corporation, Adobe Corporation, Three River Systems, Cisco Systems, Inc., Educomp Solutions, Xerox Corporation, Blackboard, Inc., Oracle Corporation, Dell, Inc., IBM, Smart Technologies, Inc., and Desire2Learn Inc. Huge opportunities offered by the higher education sector encourages key players for collaborations and partnerships and expands their reach in the market.
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