According to a new market research report “Student Information System Market 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 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.
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282- Tables
57 — Figures
254 — Pages
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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. Vendors are constantly trying to implement new technologies to improve their offerings. For instance, AI can be implemented to track and analyze student behavior which could help the faculty understand the student’s needs and weak points. This helps to analyze students’ thought processes and learning styles from their daily interactions, which helps to provide tailored courses to provide a personalized learning experience. The growing implementation of technologies such as AI, ML, data analytics, and IoT is expected to transform the education landscape.
By Solutions, the enrollment subsegment to hold the highest market share in 2022. Enrollment solutions helps institutions simplify and automate their admission and enrollment process-by-process and verify student entries, documents, images, certificates, and more, making the process efficient and effective. It helps educational campuses to streamline and manage all the tasks involved in student admission by enabling them to track the entire enrollment process in one system.
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By Professional Services, the training & consulting subsegment to growth at the highest CAGR during the forecast period. Consulting services help educational institutes understand the competencies of different SIS solutions and the associated services provided by various vendors. Training services help to train the workforce for successful deployment of the solution. With 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 account for the higher market share. A higher education SIS stores and tracks all student data that faculty and staff need to manage their university campus operations. Many higher education student information systems have a portal for students to obtain vital information, specifically their own grades. The higher education software addresses the main functional areas of the school, including enrollments, student services, registrar’s office and business office, alumni relations, and development.
The Student Information System Market has promising growth potential such as advancements in eLearning technologies and emerging potential markets in the education sector. Furthermore, the rising adoption of eLearning during to the pandemic is projected 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 education curriculum. This ongoing trend of online education and eLearning is expected to drive the Student Information System Market even after the pandemic in the coming years.
Key Players
The report includes the study of the key players offering student information system solutions. 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).
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Content Source: https://www.globenewswire.com/en/news-release/2022/06/10/2460604/0/en/Student-Information-System-Market-worth-20-5-billion-by-2027-Report-by-MarketsandMarkets.html
