The document summarizes the work of the New Media Consortium's (NMC) Horizon Project, which identifies and examines emerging technologies that could impact higher education. It discusses the project's history and process, and highlights several important trends, challenges, and developments in educational technology according to the project's most recent 2014 report. These include growing social media use, online and blended learning, the rise of data-driven learning, and technologies like learning analytics, flipped classrooms, and 3D printing that are poised to be adopted in higher education over the next 1-5 years.