Global Higher Education Market Outlook
According to a new report by Expert Market Research titled “Global Higher Education Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the global higher education market is projected to grow at a CAGR of 19.6% between 2023 and 2028. Aided by rising global emphasis on tertiary education, research initiatives, and technological integration into academic infrastructure, the market is expected to grow significantly by 2028.
Higher education, a significant step after primary and secondary education, focuses on delivering advanced academic and research knowledge in a variety of subjects. Universities, colleges, and institutes around the world offer undergraduate, postgraduate, and doctoral programs. These institutions play a crucial role in fostering innovation, socio-economic development, and personal growth. Beyond the traditional brick-and-mortar classrooms, the higher education sector has been embracing digital transformation, incorporating e-learning platforms, virtual classrooms, and online courses.
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The global drift towards knowledge-based economies is one of the pivotal drivers for the higher education market growth. As industries evolve and new sectors emerge, there’s an increasing demand for skilled professionals, researchers, and innovators. This has inevitably amplified the need for quality higher education institutions.
Additionally, technological advancements have revamped traditional educational methodologies. The swift adoption of online learning platforms, driven by the global internet proliferation and mobile device accessibility, has expanded the reach of higher education beyond geographical constraints and propelled the higher education market demand. Renowned institutions now offer online degree programs, certifications, and courses, bridging the educational gap for many potential learners around the globe.
Furthermore, the rise in global competitiveness has accentuated the importance of research and development in universities. Institutions are collaborating with industries for research projects, benefiting both the academic and business sectors. This synergy not only ensures cutting-edge academic content but also facilitates a smoother transition for students into the professional world and further adds value to the higher education market size.
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Moving forward, the market holds immense promise. As industries and economies continuously evolve, the demand for skilled professionals will perpetually rise. Institutions, by embracing technological innovations, collaborations, and global outreach, can shape the future workforce, driving global progress. Moreover, one of the crucial higher education market trends is ongoing global emphasis on inclusivity and diversity that ensures a broader spectrum of students accessing higher education, making the sector more vibrant and dynamic.
Global Higher Education Market Segmentation
The market can be divided based on component, deployment type, course type, vertical, and region.
Market Breakup by Component
- Solution
- Services
Market Breakup by Deployment Type
- On-Premises
- Cloud
Market Breakup by Course Type
- Arts
- Economics
- Engineering
- Law
- Science
- Others
Market Breakup by Vertical
- State Universities
- Community Colleges
- Private Colleges
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global higher education market. Some of the major players explored in the report by Expert Market Research are as follows:
- Anthology Inc.
- Blackbaud, Inc.
- Google LLC
- Microsoft Corporation
- Ellucian Company L.P
- Oracle Corporation
- IBM Corporation
- SAP SE
- Pearson plc
- Dell, Inc
- VMware, Inc
- Xerox Holdings Corporation
- ServiceNow, Inc
- Unifyed
- Hyland Software
- Others
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