Global Higher Education Market Insights Forecasts to 2033

• The Global Higher Education Market Size was Valued at USD 728.34 Billion in 2023
• The Market Size is Growing at a CAGR of 12.07% from 2023 to 2033
• The Worldwide Higher Education Market Size is Expected to Reach USD 2276.9 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Higher Education Market Size is Anticipated to Exceed USD 2276.9 Billion by 2033, Growing at a CAGR of 12.07% from 2023 to 2033.

Market Overview

Higher education is an additional final stage of formal study that takes place after secondary school is completed. Also referred to as post-secondary education. It includes all post-secondary education, training, and research advice provided by educational institutions that have been designated as institutes of higher education by state authorities. Higher education is offered in several educational institutions, including colleges and universities, academies, and institutes of technology, as well as at select college-level institutions such as vocational schools, trade schools, and other degree-granting institutions. Moreover, the higher education sector emerged over the last two decades and is rapidly developing. Private and governmental institutions, education ministries, and government organizations, as well as education and testing corporations, are becoming more common in this industry. Education technology is helping students and educators engage and take advantage of emerging learning possibilities. Furthermore, changing demographic dynamics, such as an increasing number of young people, which lead to higher demand for education, are boosting market growth. In addition, the growing emphasis on continuous learning and professional development across professions, which encourages people to pursue higher education at various periods of their lives, is helping to drive market growth.

Report Coverage

This research report categorizes the market for the global higher education market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global higher education market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global higher education market.

Driving Factors

One significant element is the increased use of technology in education, such as virtual classrooms, online learning environments, and educational applications. Technological advancements increase the flexibility, accessibility, and general quality of education, attracting more students to higher education. Furthermore, government programs that promote research and development or extend access to higher education can have a significant impact on the higher education market. Demand is being driven by changing public perceptions of education, such as the increasing acceptance of the importance of a college degree for success in both the personal and professional spheres. Furthermore, cultural influences might have an impact on preferences for specific higher education programs or institutions. In addition, the market is growing because of the inclusion of online learning platforms that provide flexible and reasonably priced access to courses, enabling students from different places to complete their education without being physically limited. The market is expanding as a result of the creation of interactive simulations, virtual classrooms, and augmented reality (AR) apps that improve conventional teaching strategies and make learning more immersive and interesting.

Restraining Factors

Low per capita income and the academic quality of institutions in the region or the nation present challenges for underdeveloped or developing countries in the higher education market. Although private institutions offer substantial benefits, their penetration rate in emerging nations is lower than in industrialized nations. One thing that hinders market expansion is the absence of several institutions.

Market Segmentation

The global higher education market share is classified into component, learning type, deployment mode, and end-user.

• The solutions segment is expected to hold the largest share of the global higher education market during the forecast period.   

Based on the component, the global higher education market is divided into solutions, services, and others. Among these, the solutions segment is expected to hold the largest share of the global higher education market during the forecast period. Higher education solutions offer IT developers a complete application development environment in which to design, develop, deploy, and execute applications based on the requirements. These solutions provide features for integrating structured and unstructured data across multiple technologies. Due to these factors, the solutions segment is dominating the global higher education market.

• The offline segment is expected to hold the largest share of the global higher education market during the forecast period.   

Based on the learning type, the global higher education market is divided into online, and offline. Among these, the offline segment is expected to hold the largest share of the global higher education market during the forecast period. This is because offline learning allows for direct interaction between students and educators, resulting in more effective communication, mentoring, and personalized guidance that can improve the learning experience. Furthermore, attending a physical campus is often regarded as a rite of passage because it includes extracurricular activities, social interactions, and networking, all of which contribute significantly to personal development. Furthermore, certain subjects, particularly in the sciences and engineering, necessitate hands-on practical work, experiments, and laboratory sessions, which are frequently best carried out in a physical environment. Furthermore, offline programs have established reputations and accreditation, making them more appealing to students and employers alike.

• The cloud-based segment is expected to grow at the fastest CAGR in the global higher education market during the forecast period.

Based on the deployment mode, the global higher education market is divided into on-premises, cloud-based, and others. Among these, the cloud-based segment is expected to grow at the fastest CAGR in the global higher education market during the forecast period. This is because the cloud-based segment allows for the flexibility to scale up or down based on the institution's needs, thereby supporting the dynamic nature of educational needs, where the number of users or resources might vary. Aside from that, cloud-based deployment allows access to educational resources from any device, which is especially useful in higher education, where students and faculty frequently need to access materials and tools from multiple locations, including off-campus.

• The private colleges segment is expected to grow at the fastest CAGR in the global higher education market during the forecast period.

Based on the end-user, the global higher education market is divided into state universities, private colleges, community colleges, and others. Among these, the private colleges segment is expected to grow at the fastest CAGR in the global higher education market during the forecast period. The growth of the private college segment can be attributed to the implementation of marketing and branding strategies. To reach a larger demographic and recruit new students, private universities invest in developing a strong brand image through the use of social networking sites, digital platforms, and other marketing channels. Furthermore, private institutions offer competitive scholarship programs to attract students with outstanding performance, which drives market growth.

Regional Segment Analysis of the Global Higher Education Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global higher education market over the predicted timeframe.

North America is anticipated to hold the largest share of the global higher education market over the predicted timeframe. Numerous famous universities in North America are well-known throughout the world for their creative teaching approaches, high caliber of scholarship, and research production. Furthermore, colleges in North America are leading the way in innovative research and development, drawing large amounts of financing from both the public and commercial sectors. This culture of research encourages industry partnership, which propels economic growth and technical progress. Aside from this, North America's higher education system provides a diverse range of programs and degrees to suit a variety of interests, career goals, and educational backgrounds. Furthermore, the region is appealing to international students because English is a common language. Furthermore, North America can invest in educational infrastructure, faculty growth, student services, and scholarships, ensuring that students receive a high-quality education.

Asia Pacific is expected to grow at the fastest pace in the global higher education market during the forecast period. Growing awareness of the value of higher education, particularly in developing nations, is the main driver of the higher education market expansion in the region. This component is driven by supportive policies that governments imply for the social, intellectual, and economic advancement of their citizens. Because of its large population, China has the largest revenue share in the Asia Pacific region. Furthermore, China is currently a significant producer, investor, and exporter in the higher education sector. Population and economic growth, bilateral business models, shifts in the inflow and outflow of students, escalating international competitiveness, and a sharp rise in the capacity of "Higher Education" are all factors contributing to the region's progress.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global higher education market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Blackbaud Inc.
• Anthology Inc.
• Dell Technologies Inc.
• Cisco Systems Inc.
• Instructure Inc.
• Brain4ce Education Solutions Private Limited.
• Ellucian Company L.P.
• Pearson plc
• Oracle Corporation
• ServiceNow Inc.
• VMware Inc.
• SAP SE
• Xerox Corporation
• Verizon Communications Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2024, Ellucian, the leading provider of higher education technology solutions, announced the launch of Ellucian Intelligent Processes (EIP), a new platform workflow solution that streamlines higher education operational processes across departments such as the Registrar, Human Resources, and Finance.

• In November 2023, VMware Cloud declared that it is now accessible on AWS in Hyderabad, Asia Pacific. With the addition of this region, VMware Cloud on AWS is now available in 26 regions worldwide, allowing more clients to speed up their cloud migration.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global higher education market based on the below-mentioned segments: 

Global Higher Education Market, By Component

• Solutions
• Services
• Others

Global Higher Education Market, By Learning Type

• Online
• Offline

Global Higher Education Market, By Deployment Mode

• On-premises
• Cloud-based
• Others

Global Higher Education Market, By End-User

• State Universities
• Private Colleges
• Community Colleges
• Others

Global Higher Education Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa