Higher Education Market Potential Growth, Share, Demand and Analysis of Key Players 2022
The global higher education market is expected to witness a steady growth on account of increasing number of institutions and student enrolment. Higher education has developed over the last twenty years. The number of institutions has increased owing to government policies. There is a growing competition among the public and private organisations.
Higher schooling market consists of support services provided to schools with respect to hardware and software. Some of them are faculty training services, the sophisticated learning application, stimulation software and IT infrastructure establishment. Rising awareness for higher education has benefitted the software & hardware providers, and service vendors to leverage and diversify their products in this market. Learning management systems has also led to the advancement and broad attentions by various domains to clinch the usage of higher education.
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Demand for skilled graduates in employment drives the global market demand. Awareness has been the key success for the progress of overall market. People have realised the need for getting quality schooling which is supposed to guide their future ambitions.Recent trends have shown age factor is slowly diminishing to acquire higher learning which in turn is expected to result in an increase in industry demand over the forecast period. Educational bodies focus on imparting knowledge based on latest technology and trends.This gives rise to regular resources and content updates. Moreover, good infrastructure and value added facilities are factors which students look out for during opting an institution. Local government bodies and ministry of education have realised the importance of educated professionals in the development of the overall economy.
More and more government institutions are being established offering high-quality learning at an affordable cost. They also work on creating awareness and, therefore, driving the overall demand. Education tourism is another factor which propels this industry. Students have been migrating to distant locations for acquiring quality based schooling along with world class infrastructure. This is a good source of revenue in terms of foreign exchange.
Education tourism has also facilitated globalisation by inducting students of different cultural background. The high cost is expected to hamper the global industry growth over the forecast period. Traditional learning methods are easy to implement and deliver. New methodologies require skilled faculty along with the desired infrastructure. Institutions highly depend on government funding for their overall growth. This industry is highly dependent on government policies.
Therefore, this industry has been facing challenges in countries with the unstable political environment. Growing demand for online learning provides great opportunities for global market growth in near future. Use of mobile devices, laptops and tablets have vastly increased for learning purposes. This is expected to provide bright prospects for industries into software learning in the future. Multi-national organisations have realised the need of training their employees.
The global higher education market is expected to witness a steady growth on account of increasing number of institutions and student enrolment. Higher education has developed over the last twenty years. The number of institutions has increased owing to government policies. There is a growing competition among the public and private organisations.
Key players operating in the market are Adobe Corporation, Blackboard Inc, Cisco, Dell, Educomp, IBM, Oracle, Panasonic, Smart Technologies and Xerox. Other major players include Lenovo, Fujitsu, Jenzabar, Dell and Discovery Communication. Manufacturers have been concentrating on establishing a global presence to increase their revenues. The need to provide services in various countries of different languages have given rise to professions such as translators and content writers.
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