/EIN News/ — Chicago, June 10, 2022 (GLOBE NEWSWIRE) — According to a new market research report “Student Information System Market 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″, released by MarketsandMarkets™, the global market size is expected to grow from USD 10.2 billion in 2022 to USD 20.5 billion by 2027, at a compound annual growth rate (CAGR) of 14.9% during the forecast period. The market for student information systems is driven by the need to streamline administrative processes. Additionally, the growing demand for tailored solutions is playing a key role in the growth of the student information system market.
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The adoption of advanced technologies in the education sector in recent years is expected to bring great changes to the student information system market. Suppliers are constantly trying to implement new technologies to improve their offerings. For example, AI can be implemented to track and analyze student behavior, which could help faculty understand student needs and pain points. This allows analysis of students’ thought processes and learning styles from their day-to-day interactions, enabling tailor-made courses to provide a personalized learning experience. The increasing implementation of technologies such as AI, ML, data analytics and IoT is expected to transform the education landscape.
|Market size available for years||2018-2027|
|Base year considered||2021|
|The biggest market||North America|
|CAGR for the forecast period 2022-2026||14.9%|
|Estimated annual market size||$10.2 billion|
|Forecast Year Market Size||$20.5 billion|
|Segments Covered||By component, deployment mode, end user and region|
|Geographies covered||North America, Europe, APAC, Middle East and Africa (MEA) and Latin America.|
|Companies covered||Oracle (US), Workday (US), Ellucian (US), PowerSchool (US), Jenzabar (US), Skyward (US), Tribal Group (UK), Illuminate Education (US), Arth Infosoft (India) and Focus School Software (US).|
By Solutions, Enrollment sub-segment will hold the highest market share in 2022. Enrollment solutions help institutions simplify and automate their admission and enrollment process by process and verify entries students, documents, pictures, certificates, etc., making the process efficient and effective. It helps educational campuses streamline and manage all the tasks involved in admitting students by allowing them to track the entire enrollment process in one system.
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By Professional Services, the training and consulting sub-segment grew at the highest CAGR during the forecast period. Consulting services help educational institutions understand the competencies of different SIS solutions and related services provided by various vendors. Training services help train the workforce for a successful deployment of the solution. With the rapid advancements in technologies, the demands for these services by end users have also increased.
By end user, the higher education segment is estimated to have the highest market share. A higher education SIS stores and tracks all the student data that faculty and staff need to manage their college campus operations. Many higher education student information systems have a portal for students to obtain vital information, especially their own grades. The higher education software covers the major functional areas of the school, including enrollment, student services, the registrar’s office and business office, alumni relations, and development.
The student information system market has promising growth potential such as advancements in e-learning technologies and emerging potential markets in the education sector. Also, the increasing adoption of e-learning during the pandemic is expected to have a favorable influence on the student information system market. Due to social distancing and school closures, online education has become an essential part of the curriculum. This continued trend of online education and e-learning is expected to drive the student information system market even after the pandemic in the coming years.
The report includes the study of key players offering student information system solutions. Major vendors in the Student Information System Market are Oracle (US), Workday (US), Ellucian (US), PowerSchool (US), Jenzabar (US), Skyward (USA), Tribal Group (UK), Illuminate Education (USA), Arth Infosoft (India) and Focus School Software (USA).
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