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Global Higher Education Market to Grow at a CAGR of 19.6% During the Period 2022-2027, Driven by Changing Expectations of Students and Industry

According to a new report by EMR titled, ‘Global Higher Education Market Report and Forecast 2022-2027’, the global higher education market is expected to grow at a CAGR of 19.6% during the period 2022-2027, led by technological advancements.

The global higher education market is likely to be driven by advancements in technology and changing student and industry expectations. North America, Europe and Asia are expected to be key markets.

In the last few years, education has changed significantly with technical advances. Access to quality education has increased, and people are able to learn online even from remote locations. Learners today demand a range of online classes, just-in-time communications, and intuitive experiences that go beyond the textbook. Expectations of industry from higher education have also witnessed as change. Companies prefer specific skills and abilities along with academic knowledge. Thus, solution providers today seek to offer high-tech solutions to enhance learning outcomes and decision making, and make education more accessible. At the same time, institutions are rapidly adopting technologically advanced solutions to meet student and industry expectations, and upgrade systems and processes. For example, in 2022, University of Tennessee (UT) System united its system-wide finance and HR operations on a single, cloud-based platform through Oracle Fusion Cloud Applications. With Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Fusion Cloud Human Capital Management (HCM), the campuses and institutes within the UT System would be able to automate processes and make better use of data to improve decision making.

Oracle Cloud Applications for education include Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Enterprise Performance Management (EPM), Oracle Fusion Cloud Supply Chain Management & Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM), and Oracle Fusion Cloud Advertising & Customer Experience (CX). Oracle Student Cloud also offers universities comprehensive tools to manage the entire student relationship, from recruiting and financial aid, to engagement and support. Such solutions are expected to boost the global higher education market.

In 2019, it was reported that SAP and Apple enabled the KAUST digital campus; King Abdullah University of Science and Technology (KAUST) adopted SAP Cloud Platform and associated Mobile Services to develop for students and faculty members to use on smart devices. SAP Cloud Platform and Apple iOS services were used to transform campus life at KAUST, from courses to events to IT requests.

In 2021, YASH Technologies, a leading global technology integrator and outsourcing specialist, and SAP, a market leader in enterprise application software, strengthened their partnership to help higher education and research institutes maximize growth and consistently deliver better learning and teaching outcomes.

In 2021, Dell Technologies announced a joint commitment with four Institutes of Higher Learning (IHLs) to enhance the pre-employment training curriculum for over 5,000 tertiary students in Singapore in the following two years. The programme sought to build and attract a robust talent pipeline for the local information and communications technology (ICT) sector by equipping the students with industry-relevant skills.

In 2021, the University of Pisa selected Dell Technologies storage, including Dell EMC PowerStore, to quicken efforts towards infrastructure modernization to meet evolving remote learning and research demands.

In 2018, Xerox entered into a new agreement with the Midwestern Higher Education Compact (MHEC) to offer workflow automation solutions, managed print services (MPS), office equipment and production presses to the 12 member states of the Compact, and states in sister compacts. Xerox was awarded the contract after an open and competitive sourcing event.

Key Findings of the Report:

  • Changing student and industry expectation, technological developments and adoption of advanced solutions are expected to drive the global higher education market.
  • Higher educational institutions, courses and solutions able to inculcate and enable particular skills and qualities are expected to be in higher demand.  
  • North America, Europe and Asia are expected to be key markets.

Market Analysis by Component, Type, Vertical and Region:

  • By component, the market is segmented into Solutions (further broken down by type into Student Information Management System, Content Collaboration, Data Security and Compliance, Campus Management, and Others) and Services (further broken down by type into Managed Services and Professional Services).
  • By type, the market is classified into On-premises and Cloud.
  • By vertical, the market is divided into State Universities, Community Colleges and Private Colleges.
  • By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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