CHICAGO, May 4, 2022 /PRNewswire/ — According to a research report “Student Information System Market with COVID-19 Impact by Component (Solutions (Enrollment, Education, Financial Aid, and Billing) and Professional Services), End User (K-12 and Higher Education), Deployment Mode, and Region – Global Forecast to 2027″, published by MarketsandMarkets™, the global student information system market size is expected to grow from $10.2 billion in 2022 at $20.5 billion by 2027, at a compound annual growth rate (CAGR) of 14.9% over the forecast period. The market for student information systems is driven by the need to streamline administrative processes. Additionally, the growing demand for tailor-made solutions is playing a key role in the growth of the student information system market.
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By component, Solutions segment will retain the largest market size during the forecast period
The solution segment is estimated to account for a higher market share in the student information system market. SIS solutions are further divided into Enrollment, Academics, Financial Aid, and Billing. These solutions deliver a better student experience, re-engineer internal business processes, and create learning communities that make a difference in education. The SIS solution is gaining momentum due to the growing demand from educational institutions to automate critical student information to better manage, store and track information.
By mode of deployment, Cloud segment is expected to grow at the highest CAGR during the forecast period
The cloud segment is expected to witness the highest CAGR growth over the forecast period. Cloud-based SIS solutions are a cost-effective and efficient way to manage Big Data issues in institutions. The need for strong security, easy deployment, easy maintenance, scalability, improved collaboration and cost efficiency is expected to drive the adoption of cloud-based SIS solutions and services .
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By region, North America to represent the largest market size during the forecast period
North America is expected to hold the largest share of the student information system market. North America is the most mature market in terms of adoption of SIS solutions due to various factors such as the penetration and adoption of innovative technologies, increased competitiveness and the growing need to track student progress and offer services improved accordingly. The presence of most of the leading vendors in the market such as Oracle, Workday, Ellucian, PowerSchool, Jenzabar, Skyward, and Illuminate Education also plays a vital role in the growth of the North American student information system market.
Main actors of Student Information System Market include Oracle (US), Workday (US), Ellucian (US), PowerSchool (US), Jenzabar (US), Skyward (US), Tribal Group (UK) , Illuminate Education (USA), Arth Infosoft (India) and Focus School Software (USA).
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