Higher Education Market Insights

In the past two decades, higher education has undergone a significant revolution. Technical modernization together with growth has radically altered the constitution and finance of the education systems present globally .The higher education sector is facing an ever-increasing pressure for identifying new opportunities across all the major regions. This market shift is associated with the influence of a number of external forces such as globalization and varying student expectations.

Higher education institutions are continuously adopting an extensive range of models to facilitate their entry into new markets through efficient partnership arrangements. For some higher education institutions, the prospect lies in the need to improve their reputation. While for others, the demand by students to have a more global learning experience is creating new approaches for education that can surpass borders.

Presently, technology is enabling multi-modal training and varying curriculum and is spawning rich forms of online collaboration. Considering today’s knowledge economy, universities face innumerable challenges such as difficulty in adopting server-based resources or for that matter, a secure IT infrastructure. Hence, higher education institutions are being challenged on several fronts, which include varying set of laws and an increasingly viable global environment. Universities have expanded from being embedded within a particular geographic location to becoming globally unified institutions that are both local and sprawl across continents.

The higher education industry is on the verge of moving significantly further with its implementation and usage of software solutions and interactive hardware devices. Prompted by an increasingly competitive and diverse market, institutions are eager to administer relationships  with key constituent groups, such as students, administrators, and alumni, more efficiently. Higher education is in the middle of a technological renovation, as the latest cloud-based applications are substituting the conventional Constituent Relationship Management (CRM) and Student Information System (SIS) software suites.

The present higher education software solutions offer content and collaboration, data security and compliance, student and curriculum, and performance management that allow higher education institutions to collect and assimilate student information on a common platform. These software solutions not only help in reducing the workload on campus authorities, but also help enhance efficiency and productivity.

Further, the replacement of device-based computing and increased connectivity and hardware are two of the significant driving factors for the higher education market. With the continuous global advancements in higher education, institutions are progressively finding opportunities to widen their span, footprint, and trademark to newer countries. Therefore, higher education is expected to be more receptive to the adoption of technological components. The latest technologies are likely to expedite this progressive trend, as interactive software and hardware systems are necessary for efficient academic collaborations.

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