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Higher Education Technology Market 2021 Net Worth is US$ 169.72 billion and Forecasts by 2028 | With Top Key Companies: Oracle Corporation, Astera Software, VMware, Inc., ServiceNow, Inc., Unifyed, Blackbaud, Inc....
Higher Education Technology Market 2021-2028
New study report " Higher Education Technology Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview-
The global higher education technology market size is expected to gain momentum by reaching USD 169.72 billion by 2028 while exhibiting a CAGR of 10.3% between 2021 to 2028. In its report titled "Higher Education Technology Market, 2021-2028," Fortune Business Insights mentions that the market stood at USD 77.66 billion in 2020.
In this technologically advanced world, many institutes and universities are adopting unique methods to transform teaching. They combine technology with theory and practical studies to bring out the best output from students to tackle real-world problems. Many universities seek help from tech giants by joining hands or partnering with them to promote higher studies. For instance, in June 2021, the University of Illinois Urbana-Champaign Grainger College of Engineering announced a partnership with the IBM Corporation to strengthen the college's workforce and research development efforts in various fields such as AI/ML, quantum information technology, and environmental sustainability. Such initiatives are expected to drive market growth.
COVID-19 Impact-
The pandemic brought the world to a halt. Many educational institutes were temporarily shut. For instance, Boston College Center for International Higher Education reported that around 220 million students were affected globally. Also, as per the National Student Clearinghouse Research Center Report, the number of enrollments and admissions fell by 1.3%, with the loss of about 231,000 students compared to the year earlier. However, it has strengthened the online platform and distance learning programs for higher studies. Moreover, the colleges are expected to reopen soon as the vaccination drive has gained pace worldwide.
Top Key Players in this market are:
Oracle Corporation (California, United States)
Astera Software (California, United States)
VMware, Inc. (California, United States)
ServiceNow, Inc. (California, United States)
Unifyed (Chicago, Illinois)
Blackbaud, Inc (South Carolina, United States)
Cisco Systems, Inc. (California, United States)
Verizon (New York, United States)
Blackboard Inc. (Washington, D.C., United States)
CDW LLC. (Lincolnshire, Illinois)
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Competitive Landscape-
Key Players to Focus on New Launches to Strengthen Their Market Positions
The market is consolidated by major companies striving to maintain their position by focusing on providing customized and effective solutions as the students' requirements. Besides, the market's major players are focusing on launching their new branches, partnerships, and collaborations with educational institutes to expand their business portfolio.
Segmentation-
By component, the market is trifurcated into hardware, solutions, and services. Based on learning mode, it is segmented into offline learning and online learning. By end-user, it is segmented into private colleges, community colleges, and state universities.
Based on the end-user, the private colleges segment held a market share of 25.3% in 2020. This is attributable to the increasing number of private institutions and universities.
Finally, based on region, this market is categorized into North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
Regional Insights-
North America to Remain Dominant Backed by Presence of Large Ivy League Colleges
North America held the largest higher education technology market share in 2020 and is expected to remain at the forefront during the forecast period. This is due to the presence of the world's premier institutes and colleges, such as Ivy League colleges in the U.S. Moreover, the government invests heavily in the region's educational infrastructure.
The market in Europe is expected to gain traction backed by the increasing number of educational institutes that will propel the demand for advanced higher education technology in the forthcoming years.
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What does the Report Provide?
The market report for higher education technology provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.
Table Of Content:
Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Higher Education Technology Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….
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