Major Advancements in the Higher Education Technologies; Global Industry Analysis 2023
The higher education market has emerged since the last two decades and is now growing rapidly. The number of players in this market is increasing in the shape of private and public institutions, ministries of education and government agencies, education and testing companies. Educational institutions are becoming more receptive towards adoption of technological components. Technology in education is playing an important role in allowing students and educators to interact and avail upcoming learning opportunities. Within the higher education market, there is an increasing competition between public and private higher educational institutions to emphasize on students and faculty from across the world along with participation of international universities and business partners for research, associations and funds.
Global Higher Education Market: Segmentation
The total market is segmented on the basis of hardware, software, services, users and geography. The several hardware devices used in the higher education market are tablets, PCs, interactive white boards, projectors, printers and others. Software solutions comprise data security and compliance, campus technology, performance management, content and collaboration and others. Further, the service sector includes implementation, training and support and consulting and advisory. The several users of higher education are private colleges, state universities and community colleges. The geographical analysis in the report covers North America, Europe, Asia Pacific and Rest of World.
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Global Higher Education Market: Drivers and Restraints
Increasing connectivity and hardware, privacy of several cloud based resources, emerging online and collaborative learning and personalization of the technology are the major driving factors that contribute to the growth of the higher education market. However, increased cost, difficulty in adoption of server-based computing and decreased government funding are some of the challenges for this market. Today, higher educational institutions are not spending increasingly on technology owning to budgetary restraints. The rise in competition among several institutions in long run would result in rapid deployment of cloud-based resources. Thus, the new developments in technology and strategic alliances and partnerships are opportunities for this market.
Global Higher Education Market: Key Trends
There are a number of new trends generating a prospect for institutions to communicate education in a more interactive and effective way. Higher educational institutions are more conscious about the recent developments in the international market, through structuring efficient strategies for long term associations and determine a superior level in worldwide student market. Universities around the world are making efforts to include unique strategies and activities, through promoting its programmers to a large audience and by providing services in line with foreign students.
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The higher education market is expected to exhibit a single-digit CAGR by 2019. The suppliers are not only providing software and hardware solutions but also are focusing on increasing technological deployments within existing as well as the new user accounts. Therefore, it is estimated that more than 70% of learning platforms would be Software as a Service or cloud based.