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The global higher education technology market size is expected to gain momentum by reaching USD 169.72 billion by 2028 owing to the increased online teaching globally. This information is published by Fortune Business Insights in its report titled “Higher Education Technology Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Solutions, and Services), By Learning Mode (Offline Learning, and Online Learning), By End-user (Private Colleges, Community Colleges, and State Universities), and Regional Forecast, 2021-2028.” The report further mentions that the market stood at USD 77.66 billion in 2020 and is projected to exhibit a CAGR of 10.3% during the forecast period.
Unifyed Announces its Agreement with Jacksonville University to Develop Modern ERP Solutions
A leading software education provider Unifyed announced its agreement with Jacksonville University in May 2021. Jacksonville is Northeast Florida’s premier private university. The agreement between the two institutes will help modernize Unifyed business operations and drive its digital transformation strategy by developing modern-day ERP and SIS technology. Moreover, its Student Information System and ERP systems are built in collaboration with Columbia University, will help in driving drive increased revenue by enrollment and retention automation. Such initiatives by the key companies are likely to surge the demand for advanced higher education technology across the globe.
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https://www.fortunebusinessinsights.com/higher-education-market-104503
Increasing Online Teaching to Aid Market Growth
Online learning has gained pace in the education sector amid the COVID-19 pandemic. Moreover, the online platform was also popular for higher education way before the world witnessed the pandemic. This platform has gained traction because of the availability of higher internet speed and increased usage of personal computing devices. For instance, As per the ‘Online Education in 2019’ report stated that, by Northeastern University, 1.46 million students were enrolled in online four-year undergraduate programs, 774,000 in two-year programs, and 869,000 for graduate-level courses. Furthermore, governments worldwide are also promoting digital learning, which is expected to drive the growth of the market for higher education technology during the forecast period.
Companies Focus on Investments in Education-Technology to Widen Business Horizons
The rising investment in education technology has increased dramatically in recent years. For instance, according to the World Economic Forum (WEF) report in April 2019, the global Ed-tech investments have reached USD 18.66 billion in 2019. Another report by European EdTech VC Educapital mentioned that global Ed-tech investment surged by 77% in 2018 to reach USD 8.3 billion. Countries such as China, United States, France, and India are the major investors in Ed-tech. Investors such as Exceed Capital, Owl Ventures, and Kapor Capital are investing heavily in ed-tech services to transform the education system, and this is expected to drive the higher education technology market growth.
Industry Development
The Report Lists the Key Companies in this Market:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2017-2028 |
Base Year | 2020 |
Forecast Period | 2021-2028 |
Historical Period | 2017-2019 |
Unit | Value (USD Billion) |
Segmentation | Component; Learning Model; End User; and Geography |
By Component |
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By Learning Mode |
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By End-user |
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By Region |
|