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The Global Higher Education Market is projected to reach a value of USD 74.18 billion at a CAGR of 14.77% between 2023 and 2028. Market dynamics are influenced by various factors, including the compact size of microfluidic devices, the rise in lifestyle diseases, and advancements in DNA sequencing. The compact nature of microfluidic devices enables precise manipulation and analysis of small fluid volumes, driving their adoption across diverse industries such as healthcare and biotechnology. Additionally, the increasing prevalence of lifestyle diseases, such as diabetes and cardiovascular conditions, fuels demand for innovative diagnostic and therapeutic solutions, spurring market growth. Furthermore, continuous advancements in DNA sequencing techniques enhance our understanding of genetic factors underlying diseases, fostering the development of personalized medicine and driving demand for related technologies. These interconnected trends collectively shape market evolution, driving innovation and investment in the fields of microfluidics and molecular diagnostics. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Based on product. The market share growth by the software segment will be significant during the forecast period. The 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 software market is expected to have a steady growth.
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The software segment was valued at USD 22.79 billion in 2018. The shift in the focus of institutions toward active learning techniques and changes in educational content delivery methods have led to a rise in the demand for various education software. Furthermore, Many institutions around the globe are focusing on improving their information and communications technology (ICT) infrastructure with the help of government initiatives. These factors are likely to fuel the demand for software, which, in turn, will fuel the growth market.
North America is estimated to contribute 37% to the growth of the global market during the forecast period.
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North America dominates the global 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, 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. Hence, such factors are expected to drive market growth in this region during the forecast period.
The global higher education market offers diverse pathways for career advancement, including graduate degrees, short workshops, and distance learning courses, catering to the evolving needs of a youthful population, leveraging technological advancements to provide virtual classrooms and online learning environments across institutions of higher learning, fostering worldwide collaboration and international programs to address employment criteria and skilled labor demands amidst economic fluctuations and cybersecurity threats such as hackers, phishing attacks, ransomware, and malware, with a focus on ensuring security solutions and international student mobility.
Growing emphasis on technology-based course delivery is the primary trend shaping market growth. Several universities and colleges are focusing on implementing visual technologies, such as VR, in delivering blended learning courses. Content development plays a crucial 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 this sector.
Consequently, 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 market.
The rising availability of open-source software providers is a challenge that affects market growth. 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. MOOCs provide an open environment and free access to educational content. They also offer a wide variety of content to attract customers.
Moreover, 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 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 market forecasting 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.
Market Customer Landscape
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.
Cisco Systems Inc.: The company offers education solutions such as digital learning and digital campus.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
This market growth and trends report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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The global higher education market is experiencing a transformative shift, especially with the rise of virtual classrooms and online learning environments. Institutions of higher learning are increasingly offering advanced degrees and graduate programs to meet the demands of youth seeking career advancement. International programs foster worldwide collaboration, attracting international student mobility. However, challenges persist, including financial assistance for students and the need for skilled labor meeting employment criteria.
Further, amid economic uncertainties like recession, higher education courses remain pivotal for producing skilled workers. Yet, cybersecurity threats such as hackers, phishing attacks, ransomware, and malware necessitate robust security solutions to safeguard online learning platforms and community-based college programs. In today's dynamic landscape, higher education institutions are adapting to meet diverse needs, including study abroad options and aligning with changing workforce requirements. Government programs play a crucial role in funding and navigating legislative changes impacting student financial assistance programs. Personality traits play a crucial role in various aspects of life, influencing how individuals interact with others, make decisions, and approach challenges. The International Monetary Fund (IMF), as a global financial institution, considers factors like leadership qualities, adaptability, and communication skills when assessing candidates for key roles, reflecting the importance of personality traits in professional environments and international diplomacy.
Additionally, collaborations with industries drive curriculum development and upskilling, addressing evolving job responsibilities. Concurrently, societal shifts underscore the importance of social and cultural considerations in college degree pursuits. Embracing environmental sustainability and social responsibility, institutions foster diversity and prioritize environmental stewardship. However, challenges persist, such as the rising cost of education, encompassing living expenses, textbooks, and tuition, contributing to the student debt burden. Navigating regulatory compliance and upholding academic standards remain paramount in this evolving educational landscape.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.77% |
Market Growth 2024-2028 |
USD 74.18 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
14.23 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Cisco Systems Inc., Class Technologies Inc., D2L Corp., Educomp Solutions Ltd., Ellucian Co. LP, Fujitsu Ltd., Harvard University, Instructure Holdings Inc., Jenzabar Inc., Massachusetts Institute of Technology, Microsoft Corp., Oracle Corp., Pearson Plc, Promethean World Ltd., SMART Technologies ULC, Stanford University, Unifyed, University of Cambridge, University of Oxford, and Xerox Holdings Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery market analysis and report and future consumer dynamics, Market forecast , Market condition analysis for the forecast period. |
Customization purview |
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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 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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