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The Vietnam higher education market size is estimated to increase by USD 528.6 million and grow at a CAGR of 15.43% between 2023 and 2028. The market in Vietnam is undergoing significant transformations, driven by the adoption of innovative content delivery methods and the introduction of new strategies. The Vietnamese government's focus on enhancing the quality of education and expanding access to higher education is fueling market growth. The growing middle-class population in Vietnam, with an increasing affinity for education and a desire for better career opportunities, is further boosting demand. This shift towards a more educated workforce is expected to significantly contribute to the country's economic development. Amidst this backdrop, educational institutions and technology providers are seizing opportunities to offer cutting-edge programs and solutions, shaping the future of higher education in Vietnam.
Companies 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.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Based on product. The market share growth by the software segment will be significant during the forecast period. Higher education software is further subdivided into support and solutions. Learning management systems (LMSs), enterprise resource planning (ERP), adaptive learning software (ALS), content management systems (CMSs), and other solutions are included in the solutions subsegment. Besides, accessing and incorporating the various data of colleges and universities is a tedious task. Applying analytics software enables higher educational institutes to access and integrate such data across
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The software segment shows a gradual increase in the market share of USD 145.52 million in 2018. Market segmentation by learning method multiple systems smoothly. It also helps institutes make data-informed decisions related to student performance. The shift in the focus of higher education institutions toward active learning techniques and changes in educational content delivery methods has led to a rise in the demand for various higher education software in Vietnam. Thus, such factors are likely to fuel the demand for software in higher education, which, in turn, will boost the growth of the higher education market in Vietnam through the software segment during the forecast period.
In the dynamic and evolving market in Vietnam, continuous learning and professional development are increasingly prioritized among the youth population. This trend is reflected in the growing demand for academic pursuits, including undergraduate and postgraduate degrees, as well as vocational training and professional certifications. Digital technologies have become integral to this landscape, with digital content delivery systems, online learning platforms, and virtual classrooms enabling academic continuity. Interactive simulations, augmented reality, and other educational technologies foster practical skills development and enhance the learning experience. Higher education institutions in Vietnam are also investing in research endeavors and career progression opportunities, nurturing analytical thinking, leadership capabilities, creativity, and innovation. Doctoral programs are gaining popularity, reflecting the commitment to advanced knowledge and expertise in various fields.
The Higher Education Market in Vietnam is characterized by a strong focus on digital transformation and the integration of technology into academic pursuits. This shift not only caters to the changing needs of students but also prepares them for the demands of the modern workforce. Ultimately, the goal is to provide a comprehensive and effective educational experience that fosters personal and professional growth. Our researchers analyzed the data with 2023 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.
The growing middle-class population in Vietnam is the key factor driving market growth. Vietnam's tremendous economic growth over the past 30 years has fueled the emergence of a middle class. Every year, it is expected that close to 2 million Vietnamese people will join the middle class.
Furthermore, higher education is increasingly asserting an important role in the supply of high-quality and highly qualified human resources for the nation's sustainable growth. Therefore, the increasing middle-class population in Vietnam will increase the demand for high-quality education, which is likely to boost the growth of the market in focus during the forecast period.
Growing emphasis on technology-based course delivery is the primary trend shaping market growth. Several universities and colleges in Vietnam are focusing on implementing visual technologies, such as virtual reality (VR), in delivering blended learning courses. Content development plays a vital role in blended learning courses. In the past few years, the utilization of gamification and simulations has increased. Visual technologies, such as VR, are being utilized in the higher education sector.
Moreover, the use of technology-based course delivery in post-secondary student learning will increase interactions among students as well as between students and instructors. Hence, it will enable the provision of timely and targeted feedback on student performance. It will also enable students to engage in complex problem-solving. Therefore, the growing emphasis on technology-based course delivery will enhance the growth of the market during the forecast period.
The rising availability of open-source software providers is a challenge that affects market growth. The rise in the availability of open-source software providers is adversely affecting the Vietnam - higher education market players. End-users such as colleges, universities, and students tend to adopt open-source learning software solutions as they are free of cost. Several massive open online courses (MOOCs) are also available online, which the students can access from home.
In addition, the scope of MOOCs is growing due to their semi-synchronicity, their engaging course design, the incorporation of analytics, and free access to verified certificates and diplomas from major educational institutions and businesses. Market players that offer higher education solutions and services are expected to face intense competition from MOOCs, which is likely to impede the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Higher Education Market - by Product, End-user, and Geography - Forecast and Analysis
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In the dynamic and evolving market in Vietnam, young individuals pursue various educational paths, ranging from secondary schooling to undergraduate degrees in arts, economics, engineering, law, and science. Personal development and professional networks are integral components of this journey, fostering community advancement and enhancing earning potential. Employment prospects are significantly influenced by a skilled workforce, which is continually developed through practical experience and research opportunities.
Student Information Management Systems (SIMS) play a crucial role in managing content collaboration and ensuring data security and compliance. Higher educational institutions offer managed services and professional services, available both on-premises and cloud-based, to cater to diverse needs. Course type offerings are diverse, with a strong emphasis on theoretical knowledge and practical application.
The market in Vietnam is characterized by a commitment to innovation and growth. Institutions prioritize the development of a skilled workforce, providing ample opportunities for practical experience and research. This focus on practical application and research aligns with the market's emphasis on earning potential and employment prospects. By investing in a well-rounded education, students are well-positioned to contribute to Vietnam's thriving economy and community.
Market Scope |
|
Report Coverage |
Details |
Page number |
147 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.43% |
Market Growth 2024-2028 |
USD 528.6 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.18 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABEO Inc., Adobe Inc., Anthology Inc., Apple Inc., Dell Technologies Inc., FPT Corp., Genius Edu Management System Pvt. Ltd., HCL Technologies Ltd., IDP Education Ltd., ILA Vietnam Co. Ltd., Innotech Vietnam Corp., Nash Squared, Oracle Corp., Orient Software Development Corp., Pearson Plc, Samsung Electronics Co. Ltd., and Topica Edtech Group |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market analysis and report report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Market Segmentation by Courses
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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