Free Information Sharing via Software Measures User Conversions during COVID-19 Outbreak
Software providers in the higher education solutions market have stepped in to offer free college management software and other resources to faculties and administrators during the COVID-19 pandemic. Free college courses and tutoring services are gaining prominence in college management software, since most colleges have opted for online classes during the pandemic.
The famous Black Lives Matter campaign is being adopted in the form of curriculum resource guides and being made available by companies in the higher education solutions market for free download. This is promoting information awareness about racism, oppression, and building healthy classroom environments online. These software are enabling information dissemination about 3D printed respirator mask lessons for students interested in making DIY (Do it yourself) masks.
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Cost, Time Efficiency of Higher Education Software Facilitate Fast Digital Integration
The higher education solutions market is expected to exceed US$ 40.6 Bn by the end of 2030. However, several technology and IT challenges in higher education, such as data security, data-enabled culture creation, and digital integration are inhibiting growth of the market. Hence, companies in the higher education solutions market are offering advantages to educational institutes such as decline in IT implementation costs to help institutes adapt faster in terms of technology.
The reduction in IT management time with the help of outsourcing components of their IT solution helps to accelerate digital integration in colleges and universities.
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Activity-based Remote Learning Opportunities Grab Attention of Developers
The coronavirus pandemic has sparked innovations in virtual learning platforms. This is evident since the space of content collaboration is projected to advance at an exponential rate in the higher education solutions market during the assessment period. As such, the market is predicted to grow at an astonishing CAGR of ~20% during the forecast period.
There is a demand for long-term planning in order to create software that enable virtual learning. Companies in the higher education solutions market are increasing efforts to build mature digital learning ecosystems. Software developers are becoming aware that students require activity-based learning instead of only conducting continuous, monolithic videos. Such trends are paving the way for gamification and guided projects in educational software solutions.
Limiting Use of Portable Devices Helps Align with Data Security
Colleges and universities are data goldmines, owing to sensitive data collection of the students enrolled in courses. This has stressed on the importance of data security and compliance, especially after data breach news of the Stanford University surfaced in 2019. In order to achieve this, companies in the higher education solutions market are developing software that limit the use of USBs and portable devices, as educational institutes have access toward health records and payment information of students, alumni, and even employees.
Companies in the higher education solutions market are innovating in cross-platform solutions with central administration to facilitate diversity of devices and operating systems.
Developers Encourage Institutions to Implement Data Protection Policies to Flag Suspicious Behavior
Companies in the higher education solutions market are increasing efforts to address the issues faced by big networks and online portals run by universities. Educational institutes need to be more tech-savvy in order to efficiently monitor and track sensitive data, which is stored in software. Software developers are working on the data transparency front as part of the successful data protection strategy adopted by organizations.
Developers in the higher education solutions market are encouraging educational institutions to implement data protection policies that allow them to track sensitive data and locate it on the network connected to it. Monitoring sensitive data has become important to flag suspicious behavior such as in cases where accounts may have been compromised. Malicious individuals attempting to steal data can be traced with the help of education software systems.
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Remote learning software have gauged unprecedented demand during COVID-19 to facilitate content collaboration during online classes. Software developers are increasing efforts to establish robust digital infrastructure, as students and individuals in their late 30s and 40s are opting for distance learning programs. However, educational institutes are vulnerable to data breach risks. Hence, companies in the higher education solutions market should educate users about limiting the use of USBs and portable devices to safeguard sensitive student, employee, and alumni data. Developers should increase their R&D in data encryption technologies to excel in the development of long-term virtual learning platforms.
Higher Education Solutions Market: Overview
- According to a latest research report on the global higher education solutions market published by Transparency Market Research for the historical period 2018–2020 and the forecast period 2020–2030, rise in demand for high quality education is anticipated to propel the higher education solutions market during the forecast period. Rise in higher education enrollments across the globe generates demand for higher education solutions and services. Additionally, rise in the number of public and private institutions across developing nations generates demand for higher education solutions. For instance, as per India Brand Equity Foundation (IBEF), in 2019, India has 39,931 colleges. The number of colleges has increased by 881 in 2020 as compared to that in 2018.
- In terms of revenue, the global higher education solutions market is estimated to exceed value of US$ 40.6 Bn by 2030, expanding at a CAGR of ~20% during the forecast period
Increase in Student Mobility and Advent of Technology: A Key Driver of Higher Education Solutions Market
- The advent of web-based learning & delivery and the consumption of digitized format content have brought about a paradigm shift in the teaching-learning process in the higher education sector. Additionally, rise in the development of digitally aided classrooms or smart classrooms in higher education increases the demand for technology-advanced software solutions. Thus, adoption of advanced technology solutions by institutes is anticipated to boost the higher education solutions market during the forecast period.
- Rise in the number of international students studying in higher education institutions generates demand for technology-advanced higher education solutions
- Rise in inbound mobility is helping economies gauge the right talent to improve economic development. Thus, education institutions are encouraged to adopt higher education solutions to enhance education offerings and attract international students. This is expected to boost the higher education solutions market.
Cloud-based Education Solutions
- Rapid developments in the field of IT and telecommunication are opening up cost-effective and simpler ways to deliver smart education. Cloud computing has led to the introduction of new avenues for educational institutions to teach and engage students. Educational institutions are expected to take advantage of cloud computing in order to lower their initial capital expenditure, protect data, and reduce administration costs. Applications and software are anticipated to deliver engaging levels of education in the form of information sharing facilities and workgroup learning platforms. Additionally, these provide educational facility management solutions through the cloud. Thus, solution vendors offering cloud-based solutions have opportunities to attract new customers and increase their share in the higher education solutions market globally.
Higher Education Solutions Market: Competition Landscape
- Detailed profiles of providers of higher education solutions have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global higher education solutions market are
- Adobe Corporation
- Apple Inc.
- Blackbaud, Inc.
- Blackboard, Inc.
- Cisco Systems, Inc.
- Creatrix Campus, Dell, Inc.
- EduComp Solutions
- Ellucian Co. LP
- Foradian Technologies
- Fujitsu Limited
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Pagely, Inc.
- Panasonic Corporation
- Samsung Electronics Co. Ltd.
- Verizon Communications Inc.
- Workday, Inc.
- Xerox Corporation
Higher Education Solutions Market: Key Developments
- Key providers of higher education solutions, such as Ellucian Co. LP, Oracle Corporation, Blackbaud, Inc., Blackboard, Inc., and Microsoft Corporation are focusing on the development of cost-effective higher education solutions to attract more customers. Additionally, players active in providing higher education solutions are focusing on inorganic growth strategies such as strategic collaborations and mergers & acquisitions with technology partners to improve their offerings and market reach in the higher education solutions market. Some other key developments in the global higher education solutions market are highlighted below:
- In April, 2020, Blackboard Inc. sold its Blackboard Open LMS business (“Open LMS”) to Learning Technologies Group PLC (“LTG”)
- In January, 2020, Veritas Capital acquired Campus Management Corp. and Edcentric Holdings LLC from Leeds Equity Partners, LLC
- In January 2020, John Wiley & Sons, Inc., a provider of education technology, acquired M Three Corporate Consulting Ltd, to increase its educational service offerings
- In the global higher education solutions market report, we have discussed individual strategies, followed by company profiles of providers of higher education solutions. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global higher education solutions market.
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