Global Higher Education Technology Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), The Global Higher Education Technology Market size was estimated at USD 80 Billion in 2021 and is expected to reach USD 91 billion in 2022 and is expected to hit around USD 175 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 11% from 2022 to 2030.

Our research report offers a 4.5-degree view of the Higher Education Technology market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Higher Education Technology market.

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• Numerous institutions and universities are implementing novel techniques to transform teaching in our highly developed technology environment. They mix theory and practical study with technology to get the most out of students' abilities to solve real-world challenges. Several colleges collaborate with or partner with digital companies to support higher education. For instance, the University of Illinois Urbana-Grainger Champaign's College of Engineering announced a collaboration with IBM Corporation in June 2021 to support the college's efforts to develop its workforce and conduct research in areas like artificial intelligence and machine learning, quantum information technology, and environmental sustainability. These activities are anticipated to fuel market expansion.
• Numerous educational institutions were briefly closed owing to the widespread COVID-19 pandemic. For instance, the Boston College Center for International Higher Education impacted around 220 million students worldwide. Additionally, according to the National Student Clearinghouse Research Center Report, the number of admissions and enrollments decreased by 1.3%, losing nearly 231,000 students from the previous year. However, it has improved distance learning programs and online platforms for higher education. Additionally, the colleges are anticipated to reopen soon as the global vaccination campaign has gathered momentum.
• The market is growing due to the development of smart gadgets and the ongoing proliferation of the internet. The market is partly expanding due to the growing awareness of the benefits of incorporating the newest technologies in educational institutions. Developed nations, such as the U.S., the U.K., and Germany, are putting more effort into bringing cutting-edge EdTech solutions, assisting with school administration, lessening the stress on teachers, and involving students and the community. On the other hand, emerging economies prioritize ensuring that individuals have quick and easy access to educational opportunities. EdTech has considerable potential to provide access to education for the population that is expanding quickly, especially in emerging economies.

Report Scope

The study's focus is on higher education technology market analysis on a global scale, and market sizing includes the income generated by these solutions provided by different market players. To support the market projections and growth rates over the anticipated 2022-2030, the study monitors essential market factors, underlying growth influencers, and significant vendors active in the sector. The study also examines how COVID-19 has affected the ecology generally. The scope of the study includes market sizing and forecast for segmentation by component, mode, end-user, and geography.

Key Insights

• EdTech products are anticipated to develop in tandem with the most recent technological developments, including IoT, AI, and AR/VR, and to considerably contribute to the market's expansion. The incorporation of AR and VR in EdTech solutions aids in providing learners with an engaging experience. It encourages student participation by enabling exploration and easy connection with abstract ideas.
• By integrating blockchain technology, end users can keep and safeguard records of students and learners, allowing instructors to track how often students use the material they are being given and make data-driven decisions. This, in turn, is boosting the growth of the market.
• Nowadays, individuals place a high value on education, making it essential to enrol in college. The desire for cutting-edge teaching-learning strategies is being stimulated by the ongoing digitization across many nations, propelling the growth of the higher education technology market.
• In conjunction with technological advancements, the learning process is gradually changing. The market is quickly evolving, resulting in an infusion of significant expenditures globally, from virtual classrooms to Massive Open Online Courses (MOOCs). Governments worldwide are encouraging the current players in the education sector to launch several initiatives aimed at integrating education technology (EdTech) into the overall educational system as a result of leveraging technological advancements to improve the learning process.

North America Dominated the Higher Education Technology Market

• In 2021, North America dominated the market, contributing more than 35% of global revenue. This high percentage can be ascribed to the numerous venture capitalist and private equity investments made in the American EdTech market. For instance, Class Technologies Inc., a U.S.-based EdTech platform that serves both K–12 students and classes in higher education, raised its Series B funding in July 2021 for a total of about USD 105 million. With this money, they may increase their presence outside the United States and continue providing resources to help institutions educate the affected students during the pandemic.
• Due to widespread end-user adoption and rising investments and funding for EdTech firms, the education technology sector has been expanding at an astonishing rate in the US. Also, as per WHO reports, the country is one of the most impacted economies during COVID-19. Numerous colleges and universities continue to use virtual classrooms, online tests, and other distance learning methods even when major North American nations lock down and close their schools. As a result, industries, including video conferencing, virtual classrooms, digital content consumption, and education technology companies, have developed due to the COVID-19 pandemic.

Competitive Landscape

Major corporations are competing for market share in the higher education sector by offering unique and efficient solutions that meet the needs of the students. Additionally, to diversify their company portfolios, the top competitors in the industry are concentrating on opening new branches, forming alliances, and working with educational institutions.

• 2022: MyClassCampus, an ERP platform for educational enterprises, has been bought by Teachmint Technologies Pvt. Ltd, online software for students and teachers. Combining its learning management system (LMS) with the ERP software will enable Teachmint to broaden its offerings in schools and other educational institutions due to this acquisition.
• 2020: Blackboard Inc announced the introduction of Blackboard Retention Coaching. The institutes will be able to provide individualized coaching and early student assistance thanks to this data-driven, scalable, and proactive student retention solution.

Key Players:

• Blackboard Inc.
• Oracle Corporation
• Astera Software
• ServiceNow Inc.
• VMware Inc.
• Unifyed
• Blackbaud Inc
• Verizon
• Cisco Systems Inc.
• CDW LLC.

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America