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The higher education market is estimated to grow at a CAGR of 14.49% between 2022 and 2027. The size of the market is forecast to increase by USD 63,368.82 million. The growth of the market depends on several factors, including the advent of changes in educational content delivery methods, the emergence of new higher education institutes, and the growth of internationalization in the education sector
This report extensively covers market segmentation by product (software and hardware), end-user (private colleges, state universities, and community colleges), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the higher education market growth is the advent of changes in educational content delivery methods. There has been the utilization of various established technologies, including hybrid or collaborative learning platforms, for higher education globally. The increase in the investment by colleges and universities in hardware and software has led to the implementation of new technologies for education. There is an emergence of new forms of content delivery methods that involve new technologies such as gamification-supported flipped classrooms and active learning. These new methods can help enhance student engagement and make the learning process student-centric. There has been a growing interest in the area of gamification for educational purposes.
The gamification-supported flipped classroom is becoming increasingly popular among universities globally. In flipped classrooms, students can watch videos and online lectures outside the classroom. This helps in remodeling lengthy lecture sessions into active learning, thereby utilizing the valuable class time of students to solve problems and apply concepts. These factors are likely to stimulate the growth of the global higher education market during the forecast period.
The growing emphasis on technology-based course delivery is the primary trend in the global higher education market. There is an emergence of new models of higher education partnerships such as transitional education (TNE). TNE refers to the education delivered in a country other than the country in which the awarding institution is based. TNE is conducted using different modes such as twinning programs, distance education, articulation programs, franchising arrangements, and branch campuses. The rise in the demand among students for gaining a foreign qualification without moving from their country of residence is helping the growth of TNE.
TNE is helpful for employers and governments looking at options for human resource development with a geographically dispersed workforce. The future market opportunities for TNE are driven by factors such as the total number of tertiary enrollments and student mobility rates. TNE programs are being conducted widely in various universities across countries such as the UK, Australia, France, Germany, and Italy. The growth of TNE across the globe is likely to stimulate the growth of the global higher education market.
The rise in the cost of higher education is one of the key challenges hindering the higher education market growth. The rise in the cost of higher education is starting to turn off potential customers such as students. The cost of higher education is very high in private colleges compared with government colleges. The rise in the cost is not balanced against the value and benefits of the college degree. For instance, the average tuition fee in private, nonprofit, four-year colleges has increased significantly in the last few years. This has led to a reduction in the total number of college enrollments. The diminishing field of well-paying job opportunities is also making students reluctant to study in colleges by paying high fees. Many graduates across the world are unemployed and are facing massive student loan debt.
Moreover, the rise in student loans and the nearly static wage growth are making young adults drown in student debt. Thus, enrollment rates for higher education are severely dropping among low-income students. In the coming years, if the cost of higher education is continuing to outpace the ability of middle- and working-class families to pay, the adoption of higher education will decrease.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Higher Education Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
advance-he.ac.uk - The company offers higher education with a focus on enhancing teaching and learning, effective governance, leadership development, and tackling inequalities through equality, diversity, and inclusion (EDI) work. Also, through this segment, the company offers higher education solutions to institutions.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the software segment will be significant during the forecast period. The higher education software segment is further segmented into support and solutions. The solutions subsegment includes learning management systems (LMSs), enterprise resource planning (ERP), adaptive learning software (ALS), content management systems (CMSs), and others. Due to the above factors the global higher education software market is expected to have a steady growth rate during the forecast period.
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The software segment was valued at USD 18,533.28 million in 2017 and continue to grow by 2021. The shift in the focus of higher education institutions toward active learning techniques and changes in educational content delivery methods have led to a rise in the demand for various higher education software. There is also a surge in demand for cloud-based classroom management system software in the higher education sector. This is owing to its ease of integration with the existing LMS and other supporting software such as CMS. Furthermore, global vendors of technologies such as learning analytics, gamification solutions, assessment tools, and content authoring are expected to grow and capitalize on the opportunity during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America dominates the global higher education market because of the growing need for effective and quality education in the developed economies in the region. Owing to the increasing popularity of learning, higher education institutions are investing in modern technologies that can be used to improve the learning experience for students as well as enable educators to deliver and access content from anywhere at any given point in time. This has fueled the adoption of on-cloud solutions. Furthermore, the US Department of Education has devised the National Education Technology Plan (NETP) that endorses the use of adaptive learning in colleges. In addition, in February 2020, the US government launched the Open Society University Network.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for North America. In 2020, due to the outbreak of COVID-19, education officials were forced to cancel classroom learning in the region. Overall, enrollment for offline higher education was witnessing a decline, whereas enrollment for online degrees increased due to the COVID pandemic. Moreover, the introduction of COVID-19 vaccines in 2021 led to the reopening of schools and universities, which positively impacted the growth of the market. With a large number of students enrolling in new courses, the demand for higher education will surge. The shift in student's preferences can be attributed to the flexible formats (self-paced courses) of online degrees. All these factors are expected to drive the growth of the higher education market in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Higher Education Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.49% |
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Market growth 2023-2027 |
USD 63,368.82 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
13.96 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Adobe Inc., Advance HE, Apple Inc., Cisco Systems Inc., Class Technologies Inc., D2L Corp., Dell Technologies Inc., Educomp Solutions Ltd., Ellucian Co. LP, Fujitsu Ltd., Instructure Holdings Inc., International Business Machines Corp., Jenzabar Inc., Microsoft Corp., Oracle Corp., Pearson Plc, Promethean Ltd., Samsung Electronics Co. Ltd., SMART Technologies ULC, and Xerox Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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