11-Oct-2021 | Zion Market Research
As per the findings of Zion Market Research study, Higher Education industry gathered revenue of about US$ 78.1 billion in 2020 and is expected to earn returns worth approximately US$ 170.2 billion by 2028. In addition to this, Higher Education is slated to register highest gains of nearly about 10.4% in 2021-2028. Moreover, rise in imparting education through online mode has created new growth avenues for higher education market. In addition to this, outbreak of COVID-19 pandemic resulted in lockdown in various parts of world and led offline educational activities coming to standstill. This has promoted demand for online education, thereby expanding size of higher education industry. Apparently, conventional education system has given way to virtual and blended mode of education, thereby culminating into humongous higher education market expansion in recent years. Citing an instance, in first quarter of 2020, Chinese Ministry of Education offered teaching to more than 250 million students through online mode of learning along with providing them with a facility of learning in flexible hours as well as per their own convenience. With students able to learn and gain education at their own pace and convenience through online delivery of lectures, the online mode of education is garnering momentum and this is likely to drive higher education market growth.
Growing Trends To Study Abroad Among Student Population To Influence Industry Landscape
Unprecedented growth of higher education market over coming years can be attributed to massive student enrollment in online educational courses offered by foreign universities. In addition to this, easy access to high speed internet facility, easy availability of personal computing devices such as laptops & tablets, and launching of high speed 5G network will culminate into steep growth of higher education market. Apparently, rising digital learning trends among young, adult, and elderly population will garner lucrative benefits for higher education market in coming years.
North American Market To Maintain Global Dominance Over 2021-2028
Expansion of higher education market in North America over assessment period can be credited to rise in acceptance of BYOD by faculties and students in countries such as Canada and the U.S. facilitating effective & seamless or uninterrupted delivery of online lectures. In addition to this, rise in industry-academia collaborations has translated into massive popularity of higher education programs among youths in these countries. Furthermore, renowned organizations in countries such as the U.S. and Canada have set up their own educational institutes through which they train their employees as per their job requirements along with horning, upgrading, and shaping of their professional skills through imparting of education in these institutions. This move is predicted to benefit both firms as well as employees resulting in higher profit margins for organizations along with job satisfaction for employees. Apart from this, it will have a favorable impact on employee efficiency in terms of both work productivity & quality. All these aforementioned aspects are predicted to contribute remarkably towards regional market size over projected timespan.
Some of the key players have made remarkable contributions towards market earnings, thereby influencing its growth. They are Blackboard Inc., VMware, Inc., Cisco Systems, Inc., Oracle Corporation, Dell Inc., CDW LLC, Unifyed, ServiceNow, Inc., Astera Software, and Verizon.
Browse the full “Higher Education Market - By Component (Hardware, Solutions, and Services), By Learning Mode (Offline Learning and Online Learning), By End-User (Private Colleges, Community Colleges, and State Universities), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/higher-education-market
The global Higher Education Market is segmented as follows:
By Learning Mode
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