According to a research report “Student Information System Market with COVID-19 Impact by Component (Solutions (Enrollment, Academics, 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 estimated 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 Student Information System Market is fuelled by the need to streamline administration processes. Moreover, the rising demand for tailored solutions play a key role in driving the growth of the student information system market.
By Component, Solutions segment to hold the larger market size during the forecast period
The solutions 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, reorganizes internal business processes, and create learning communities that make a difference in the education industry. SIS solution is gaining traction due to the increasing demand from educational institutions to automate critical student information to better help manage, store, and track the information.
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By Deployment Mode, Cloud segment to grow at the higher CAGR during the forecast period
The cloud segment is expected to have the higher CAGR growth during the forecast period. The cloud-based SIS solutions are a cost-effective and efficient way of managing big data issues across institutions. The need for enhanced security, easy deployment, ease of maintenance, scalability, enhanced collaboration, and cost-effectiveness is expected to boost the adoption of cloud-based SIS solutions and services.
By Region, North America to account for the largest market size during the forecast period
North America is expected to hold the largest share in the Student Information System market. North America is the most mature market in terms of SIS solution adoption 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 enhanced services accordingly. The presence of most of the top market vendors 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.
Market Players
Major vendors in the Student Information System Market include 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).
Oracle (US) and Workday (US) are leading players in Student Information System Market
Oracle is one of the major providers of enterprise software, computer hardware products, and cloud services. In the student information system market, Oracle offers Oracle Student Cloud, which offers a comprehensive approach to managing the student lifecycle, communications, and relationships, from recruiting through alumni and donor management. In October 2019, Oracle collaborated with the Pennsylvania State University to support their “One Penn State 2025” strategic vision. Oracle SFP Cloud would help to transform education delivery, focusing on student engagement and support, and reduce the cost of education.
Workday is a leading provider of enterprise cloud applications for finance, HR, and planning. In the student information system market, Workday offers Workday Student. Key benefits of Workday Student include engaging students throughout their journey and providing mobile experiences, enabling students to plan courses and understand academic eligibility and progress, and empowering students, faculty, and staff through self-service and a user-friendly interface. In May 2020, Workday partnered with Microsoft to enable its Workday Adaptive Planning application to run on the Microsoft Azure cloud.
Related Reports:
Student Information System Market with COVID-19 Impact by Component (Solutions (Enrollment, Academics, Financial Aid, and Billing) and Professional Services), End User (K-12 and Higher Education), Deployment Mode and Region — Global Forecast to 2027
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