Dubai, UAE, Sept. 07, 2023 (GLOBE NEWSWIRE) -- According to a recent report published by Kings Research, the global Higher Education Market was valued at USD 506.54 billion in 2022 and is anticipated to garner USD 860.11 billion in revenue by 2030, exhibiting a CAGR of 7.03% from 2023 to 2030. Major drivers impelling this growth are the rising adoption of higher education tools and services, along with the increasing number of students enrolling in postsecondary institutions. Numerous opportunities for higher education vendors are anticipated to arise as a result of rising international student mobility, prominent government initiatives, and rising funding in the education sector.
The higher education industry has expanded rapidly in recent years, attracting a wide range of participants including private and public institutions, educational organizations, as well as government bodies, and ministries of education. The usage of education technology, which enables better communication between students and educators, is increasing as a result of a greater emphasis on technology adoption in the education sector. Higher education institutions are competing to attract international students and faculty members while seeking collaborations with foreign universities and commercial partners for research resources and financing opportunities, which ultimately support market growth.
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Competitive Landscape
Leading market participants are employing a range of business growth strategies, including partnerships, mergers & acquisitions, product innovations, and joint ventures to increase their market share. These strategies are aimed at expanding their product portfolios and enhancing their market shares across various regions through investments in R&D activities, the establishment of new manufacturing facilities, and the optimization of supply chains.
The key market participants involved in the global higher education market include:
- Brain4ce Education Solutions Pvt. Ltd.
- Coursera Inc.
- Harvard University
- University Learning Solutions GmbH
- Massachusetts Institute of Technology(MIT)
- University of Oxford
- Simplilearn Solutions
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Trending Now: MIT Jameel World Education Lab Launches New Initiative to Improve Education
The MIT Jameel World Education Lab has launched a new project to evaluate cutting-edge educational concepts. The Education Innovation Grants will help fund the development and testing of novel teaching and learning strategies by scholars and practitioners.
The awards will assist initiatives in a number of fields, such as employing technology to personalize learning, building more inclusive and fair learning environments, and promoting lifelong learning.
The Education Innovation Grants are part of MIT's commitment to using its research and expertise to improve education around the world. The initiative is expected to help identify and scale up promising new approaches to teaching and learning.
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The Global Higher Education Market is segmented as:
By Application
- Undergraduate
- Master’s
- PhD
Higher Education Market Growth to Accelerate Due to Increasing Number of Undergraduate Students
The undergraduate segment dominated the global higher education market in 2022 and is estimated to retain its market position through the forecast period, registering a robust CAGR of 7.87% over 2023-2030.
The growth of the segment is associated with the range of academic years between high school and obtaining a master's degree. By 2030, it is expected that there will be close to 300 million undergraduate students. Between the years 2023 and 2030, the number of people opting for Ph.D. degrees is expected to steadily increase.
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By Mode of Education
- Offline
- Online
Convenience of Offline Education to Bolster Higher Education Market Growth
The offline segment held the largest market share in 2022 and is foreseen to continue leading the market with a speculated CAGR of 6.78% through the projected period. Traditional educational methods and student choices are key factors contributing to the growth of the market. However, the online education segment is set to experience the fastest growth rate through the review timeline due to increased internet penetration, technological advancements, and evolving trends in online education. The ability to download and record modules is one of the key features of online education that enables students to revisit their studies at any time.
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
APAC to Lead the Global Higher Education Market Owing to Increasing Importance of Higher Education
Asia Pacific is projected to lead the global higher education market, expanding with a CAGR of 8.17% through the forecast timeframe. Growing public awareness of the value of higher education, particularly in developing nations, is a key factor propelling regional market growth. Government policies that support citizens' intellectual, economic, and social development are the driving forces fueling the growth of the regional market. China holds the largest revenue share in the Asia-Pacific region, mainly due to its large population. Moreover, India is projected to experience significant growth at over 8% CAGR between 2023 and 2030.
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Key Points from TOC:
Chapter 1 Introduction of the Global Higher Education Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Higher Education Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Higher Education Market, By Application
Chapter 7 Global Higher Education Market, By Institution Type
Chapter 8 Global Higher Education Market, By Mode Of Education
Chapter 9 Global Higher Education Market, By Geography
Chapter 10 North America
Chapter 12 Asia Pacific
Chapter 13 Middle East & Africa
Chapter 14 Latin America
Chapter 15 Global Higher Education Market Competitive Landscape
Chapter 16 COMPANY PROFILES
16.1 Brain4ce Education Solutions Pvt. Ltd.
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Coursera Inc.
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Harvard University
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 iversity Learning Solutions GmbH
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 Massachusetts Institute of Technology(MIT)
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
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