According to Custom Market Insights (CMI), The Global Higher Education Technology Market size was estimated at USD 80 Billion in 2021 and is expected to hit around USD 175 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 11% from 2022 to 2030.
Our research report offers a 4.5-degree view of the Higher Education Technology market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Higher Education Technology market.
Higher Education Technology Market: Overview
A digital revolution is about to begin in the field of education. Traditional teaching methods are only one of many ways to educate students in the age of digitization and automation. It is projected that the most recent technological developments, such as artificial intelligence, augmented reality, virtual reality, and robotics, will revolutionize traditional teaching methods. Through practical and cross-curricular applications, these opportunities for cross-curricular learning can help schools and educators better manage their resource commitments while fostering students’ intellectual growth. Additionally, MOOCs are exploding in popularity worldwide and are quickly becoming a viable option for online education.
Browse the full “Higher Education Technology Market Size, Trends and Insights By Component (Hardware (PCs/Laptops, Projectors, Tablets/Smartphones, Printers, Others) Solutions (Learning Management System, Student Information System, Performance Management, Student Response System, Campus Management, Others) Services (Community Colleges, Private Colleges, State Universities)), By Mode (Online Learning, Offline Learning), By End-user (State Universities, Community Colleges, Private Colleges), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 “ report at https://www.custommarketinsights.com/report/higher-education-technology-market/
Massive Open Online Courses (MOOCs) and virtual classroom adoption are pushing businesses and governments to engage in higher education technology, fueling the market’s expansion. Over the long run, it is anticipated that the higher education technology business will be driven by the paradigm shift away from traditional educational systems and toward individualized and interactive learning. Adopting online training modules by corporations for their staff members to assist them in updating their skill sets is another benefit of digital learning.
Adopting new technologies like blockchain and artificial intelligence (AI) is helping higher educational institutions automate tasks like grading assignments and giving feedback. Additionally, it is anticipated that higher educational institutions will embrace gamification and immersive learning during the forecast period to deliver interactive learning experiences.
Comparing digital and printed literature, the former is more affordable and convenient. Additionally, these can be made available in various languages and audio formats to benefit visually impaired learners and increase vocabulary. Therefore, many opportunities are anticipated for higher education technology content suppliers.
The market for Higher Education Technology is segmented into components, modes, and end-user. With almost 40% of global sales coming from the hardware segment, that segment dominated the market in 2021. The large percentage can be due to digital classrooms’ rising popularity in the education sector. As a result, tab sales have grown exponentially, and laptop sales have followed suit. Around 40% of the tab sales were produced by Apple Inc., followed by players including Lenovo, Samsung, and Amazon.
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From 2022 to 2030, Asia Pacific is predicted to have the fastest CAGR. This expansion can be ascribed to the general public’s increasing use of computing and intelligent devices. Recently, emerging nations like India have seen a wave of accessible broadband connectivity, which has led to many businesses reaching out to the public. Users should be able to experience education and learn with the help of internet connectivity owing to this trend. In addition, those involved in education in underdeveloped nations are increasingly thinking about using technology to close the gap between existing educational infrastructure and available teaching resources.
Key Players Insights
Market participants who are engaged are putting much effort into growing their clientele and acquiring an advantage over their competition. As a result, they undertake a range of strategic activities, including joint ventures, mergers and acquisitions, partnerships, and the creation of new products and technologies.
Our report offers quantitative and qualitative insights into the Higher Education Technology market and significant development initiatives adopted by the key players. Further, it provides competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players’ recent developments.
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