The Higher education is also well-known as post-secondary education and tertiary education which is a discretionary the final stage of recognized learning stirring after the accomplishment of secondary education. It contains all the post-secondary education, training and research supervision at education institutions which are approved as institutions of higher education by government authorities. Also, it is instigated at several educational institutes likewise universities, academies, colleges, seminaries, and institutes of technology along with them through convinced college-level institutions, involving vocational schools, trade schools, and several other career colleges conferring degrees.
According to the report analysis, ‘Global Custom Higher Education Market to reach USD 112.95 Billion by 2026’ states that the worldwide burden of COVID-19 results in the lockdown of several economies that expand the requirement for the online and digital medium of learning mechanism to certify thrust social distancing amongst students. Therefore, the speedy growth across online education & technological innovation and advancement implementation in education segment across the world is projected to propel the growth of the market over the review years. For instance: As per the study of Modification Disruptive E-learning, e-learning necessitates 40-60% less employee time equaled to the traditional classroom setting, 25-60% of augmentin retention rates linked to classroom learning which is 8-10%. Also, dependent on the World Education Services, the worldwide e-learning market is projected to increase till USD 331 billion by 2025 with the augment in Massive Open online courses (MOOC) from 6850 from 2016 to 9400 in 2017 and According to the Holon IQ, the artificial intelligence-based educational technology disbursement is in 2018 was USD 0.8 billion during 2018 and predicted to USD 6.1 billion till 2025. In addition, speedy increment in enrollment of students for higher education across the globe is also predicted to influence the growth of the market over the review years. However, great cost sustained in opting for higher education is projected to restrict the growth of the market over the forthcoming period.
In addition, the regional analysis of worldwide Custom Higher Education market is considered for the foremost regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Whereas, North America is the leading/significant region around the world in terms of market share due to the implementation of advanced technologies in the higher education segment. Whereas, the Asia-Pacific is also projected to exhibit the greatest growth rate / CAGR over the review period of 2020-2027. Aspects such as robust growth in the matriculation of students for higher education around the region would generate lucrative growth prospects for the Custom Higher Education market across the Asia-Pacific region.
Not only has this, but the organized players across the worldwide custom higher education are also effectively working for leading the highest market growth and accounting for the handsome value of the market share. Adobe Inc., Xerox Holdings Corporation, Verizon Communication Inc., Educomp Solutions Ltd., International Business Machines Corporation, Cisco Systems, Inc., Panasonic Corporation, Dell, Inc., Oracle Corporation, Blackboard, Inc., and several others are the major market players. Nonetheless, the players are spreading the awareness connected to such, establishing several research and development programs, and decreasing the linked prices. Therefore, in the near years, it is anticipated that the market for custom higher education will increase around the globe more effectively over the upcoming years.
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Ankur Gupta, Head Marketing & Communications