New York, United States , April 19, 2024 (GLOBE NEWSWIRE) -- The Global Higher Education Market Size is to Grow from USD 728.34 Billion in 2023 to USD 2276.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 12.07% during the projected period.
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Higher education is the final stage of formal education that occurs after secondary school is completed. Also known as post-secondary education. It includes all postsecondary education, training, and research advice provided by state-designated institutes of higher education. Higher education is provided by a variety of educational institutions, including colleges and universities, academies, and institutes of technology, as well as select college-level institutions such as vocational schools, trade schools, and other degree-granting organizations. One important factor is the increased use of technology in education, including virtual classrooms, online learning environments, and educational applications. Technological advancements enhance the flexibility, accessibility, and overall quality of education, attracting more students to higher education. Furthermore, government programs that encourage research and development or expand access to higher education can have a significant impact on the higher education industry. However, low per capita income and the academic quality of regional or national institutions pose challenges for underdeveloped or developing countries in the higher education market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Higher Education Market Size, Share, and COVID-19 Impact Analysis, By Component (Solutions, Services, and Others), By Learning Type (Online, and Offline), By Deployment Mode (On-premises, Cloud-based, and Others), By End-User (State Universities, Private Colleges, Community Colleges, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The solutions segment is anticipated to hold the greatest share of the global higher education market during the projected timeframe.
Based on the component, the global higher education market is divided into solutions, services, and others. Among these, the solutions segment is anticipated to hold the greatest share of the global higher education market during the projected timeframe. Higher education solutions provide IT professionals with a complete application development environment in which to design, create, deploy, and execute applications depending on specific requirements. These solutions provide functionality for combining structured and unstructured data across many technologies.
The offline segment is anticipated to hold the greatest share of the global higher education market during the projected timeframe.
Based on the learning type, the global higher education market is divided into online, and offline. Among these, the offline segment is anticipated to hold the greatest share of the global higher education market during the projected timeframe. This is because offline learning allows students and educators to connect directly, resulting in more effective communication, mentoring, and tailored advice, all of which can improve the learning experience. Furthermore, attending a physical campus is sometimes seen as a rite of passage because it provides extracurricular activities, social connections, and networking, all of which are beneficial to personal growth.
The cloud-based segment is anticipated to grow at the fastest pace in the global higher education market during the projected timeframe.
Based on the deployment mode, the global higher education market is divided into on-premises, cloud-based, and others. Among these, the cloud-based segment is anticipated to grow at the fastest pace in the global higher education market during the projected timeframe. This is because the cloud-based component allows for the flexibility to scale up or down based on the institution's needs, thereby addressing the dynamic nature of educational needs, where the number of users or resources might change.
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North America is expected to hold the largest share of the global higher education market over the forecast period.
North America is expected to hold the largest share of the global higher education market over the forecast period. Numerous notable colleges in North America are well-known around the world for their innovative teaching methods, high-quality scholarship, and research production. Furthermore, institutions in North America are leading the way in creative research and development, receiving significant funding from both the public and private sectors. This research culture fosters industry collaboration, which drives economic growth and technological advancement. Aside from that, North America's higher education system offers a wide selection of programs and degrees to cater to a variety of interests, professional ambitions, and educational backgrounds. Furthermore, the region attracts international students because English is a common language.
Asia Pacific is predicted to grow at the fastest pace in the global higher education market during the projected timeframe. Growing awareness of the importance of higher education, particularly in developing countries, is the primary driver of regional higher education market growth. This component is driven by government policies that promote the social, intellectual, and economic advancement of its citizens. Because of its vast population, China has the highest revenue share in the Asia Pacific area. Furthermore, China is a major producer, investor, and exporter in the higher education sector.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Higher Education Market are Blackbaud Inc., Anthology Inc., Dell Technologies Inc., Cisco Systems Inc., Instructure Inc., Brain4ce Education Solutions Private Limited., Ellucian Company L.P., Pearson plc, Oracle Corporation, ServiceNow Inc., VMware Inc., SAP SE, Xerox Corporation, Verizon Communications Inc., and Other Key Vendors.
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Recent Developments
- In April 2024, Ellucian, the leading provider of higher education digital solutions, today announced the debut of Ellucian Intelligent Processes (EIP), a new platform workflow solution that optimizes higher education operational operations across departments such as Registrar, Human Resources, and Finance.
Market Segmentation:
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Higher Education Market based on the below-mentioned segments:
Global Higher Education Market, By Component
- Solutions
- Services
- Others
Global Higher Education Market, By End-User
- State Universities
- Private Colleges
- Community Colleges
- Others
Global Higher Education Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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