PUNE, India, Aug 17, 2022 (GLOBE NEWSWIRE) — The size of the global higher education technology market will reach 169.72 billion by 2028, exhibiting a CAGR of 10.3% from 2022 to 2028 It is expected to gain momentum by reaching the US dollar. “Higher education technology market shareFortune Business Insights states that the market size in 2020 reached US$77.66 billion.offline learning, online learning), by end-user (private colleges, community colleges, state colleges), and regional forecasts, 2022-2028
industrial development
- July 2020 – Blackboard Inc. announced the launch of Blackboard Retention Coaching. It is a data-driven, scalable and proactive student retention solution that enables educational institutions to facilitate personalized coaching and early student intervention.
- September 2020: 2U, Inc. collaborated with Colgate University’s Distance Learning Task Force and Center for Learning, Education, and Research. The partnership will give the university access to 2U’s course production and development, technology, and support services bundle, called his 2UOS, to deliver a hybrid learning experience on select courses.
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In this technologically advanced world, many institutions and universities are adopting unique methods to transform education. They combine technology with theory and practical research to get the best out of students working on real-world problems. Many universities look to the tech giants for help by forming alliances and partnerships to promote higher research. For example, in June 2021, the University of Illinois at Urbana-Champaign Grainger College of Engineering will expand its workforce and R&D efforts in areas as diverse as AI/ML, quantum information technology, and environmental sustainability. announced a partnership with IBM Corporation. Such initiatives are expected to drive market growth.
Reporting scope:
| report coverage | detail |
| Forecast period | 2022-2028 |
| Forecast period 2022-2028 CAGR | 10.3% |
| 2028 value projection | US$169.72 billion |
| base year | 2019 |
| Higher Education Technology Market Size in 2020 | USD 77.66 billion |
| historical data of | 2017-2019 |
| page number | 140 |
drivers and restraints
Adoption of digitalization by educational institutions to drive market growth
- Today, education is given great importance and has become an important factor for people to enter university. The ongoing digitalization in various countries is stimulating the demand for advanced educational learning approaches, which in turn boosts the growth of the higher education market.
- On the other hand, many countries still have problems adopting advanced study programs due to low local funding for education. In addition to the rapidly changing educational culture, high tuition fees are the main constraints of the market.
Regional Insight
North America remains dominant, bolstered by the presence of large Ivy League universities
North America will hold the largest higher education technology market share in 2020 and is expected to remain at the forefront during the forecast period. This is due to the presence of world-class institutes and colleges, such as the Ivy League colleges in the United States. Additionally, the government invests heavily in the local educational infrastructure.
The European higher education market is expected to gain traction in the coming years, supported by an increase in the number of educational institutions driving demand for advanced higher education technology.
Market segmentation:
By component, the higher education market is divided into hardware, solutions, and services. Based on learning mode, it is divided into offline learning and online learning. By end-user, they are categorized into private, community, and state universities.
Based on end users, the private university segment held 25.3% market share in 2020. This is due to the increasing number of private institutions and universities.
Finally, based on region, this market is segmented into North America, South America, Europe, Middle East & Africa, and Asia Pacific.
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inhibitor
Unruly increase in higher education to hamper market growth
Over the last few decades, the cost of obtaining a bachelor’s degree or postgraduate degree around the world has skyrocketed, negatively impacting the growth of the higher education market. According to the Center on Budget and Policy Priorities (CBBP), a US think tank, between 2008 and 2018, average four-year public college tuition rose in all her 50 US states. On average, CBBP data showed a 37% increase in tuition and a 24% increase in net costs related to scholarships and grants. Another problem resulting from the rising costs of higher education is the large amount of debt that students have to deal with after graduation. For example, in the UK, the average student loan debt is US$30,800, while in Sweden it is US$20,000. However, investing in higher education remains a lucrative prospect for students, and according to the World Bank, advanced degrees help students earn higher incomes compared to high school graduates.
competitive environment
Major companies focusing on new product launches to strengthen their market position
The higher education market is powered by leading companies that strive to maintain their position with a focus on providing customized and effective solutions to student requirements. Additionally, key players in the market are focusing on launching new branches, partnerships, and collaborations with educational institutions to expand their business portfolios.
Key Players Profiled in the Higher Education Technology Reports Market:
- Oracle Corporation (California, USA)
- Astera Software (California, USA)
- VMware, Inc. (California, USA)
- ServiceNow, Inc. (California, USA)
- Unified (Chicago, IL)
- Blackbaud, Inc (South Carolina, USA)
- Cisco Systems, Inc. (California, USA)
- Verizon (New York, USA)
- Blackboard Inc. (Washington DC, USA)
- CDW LLC. (Lincolnshire, IL)
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Main points of TOC:
- Market Share Insights and Analysis of Leading Players in Global Higher Education Technology, 2020
- Key market insights and strategic recommendations
- Company profiled
- Overview
- key management
- Head office etc.
- Offering/Business Segment
- Main details
- number of employees
- major financial
- Earnings past and present
- Geographical share
- Business segment share
- Recent development
- Overview
- Attachment/Appendix
- Global Higher Education Technology Market Size Estimates and Forecasts (Quantitative Data), by Segment, 2017-2028
- By Component (USD)
- hardware
- PC/Laptop
- tablet/smartphone
- projector
- interactive whiteboard
- printer
- others
- solution
- student information system
- learning management system
- Student correspondence system
- Campus management
- performance management
- Other (content and collaboration, data security and compliance, etc.)
- service
- Consulting and Advisory
- Implementation
- training and support
- hardware
- By learning mode (USD)
- offline learning
- online learning
- By End User (USD)
- private university
- community college
- state university
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- By Component (USD)
- North America Higher Education Technology Market Size Estimates and Forecasts (Quantitative Data), by Segment, 2017-2028
- European Higher Technical Education Market Size Estimates and Forecasts (Quantitative Data), by Segment, 2017-2028
- Global Higher Education Technology Market Size Estimates and Forecasts (Quantitative Data), by Segment, 2017-2028
TOC continues…!
Frequently Asked Questions:
- How big is the higher education technology market?
The global higher education market is projected to reach USD 169.72 billion by 2028, at a CAGR of 10.3% during the forecast period. [2022-2028].
- How big is the education market?
The market size in 2020 was valued at USD 77.66 billion.
3. Which country is expected to hold the highest market share?
The United States is expected to hold the highest market share.
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