According to the latest report by IMARC Group, titled “Student Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global student information system market reached a value of US$ 7.6 Billion in 2021. A student information system is a responsive web-based platform designed to assist administrators, teachers, students and parents. It offers centralized billing and accounting management, easy exam scheduling, and efficient management of student-related activities. It also reduces the time spent on maintaining records and facilitating communication between multiple divisions. As a result, student information systems are gaining traction across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Student Information System Market Trends:
At present, there is a considerable increase in the trend of digitization across the education industry. This represents one of the key factors positively influencing educational institutions to adopt student information systems worldwide. These systems aid in improving the quality of education and streamlining issues concerning students, administrators and teachers. Apart from this, the rising penetration of the internet and boosting sales of smartphones around the world are impelling the market growth. Furthermore, the market is also driven by the increasing adoption of cloud- and artificial intelligence (AI)-based software. These advanced solutions enhance data security and reduce the overall operational costs of the institutions. This, in confluence with increasing investments in the education industry and extensive research and development (R&D) activities, is projected to fuel the market. Looking forward, IMARC Group expects the market to expand at a CAGR of 13.73% during the forecast period (2022-2027).
- Based on the component, the market has been classified into solution (enrollment, academics, financial aid, and billing), and services (professional and managed).
- On the basis of the deployment type, the market has been bifurcated into on-premises and cloud.
- Based on the end-user, the market has been divided into K-12 and higher education.
- Region-wise, the market has been categorized into North America (the United States and Canada), Asia Pacific (Japan, China, India, South Korea, Indonesia, Australia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others), and Middle East and Africa (the United Arab Emirates, Turkey, Saudi Arabia, Iran, and others).
- The competitive landscape of the market has been examined, with some of the key players being Arth Inforsoft Pvt. Ltd., Anthology Inc., ComSpec International, Inc., Ellucian Company L.P., Foradian Technologies, Illuminate Education, Inc., Jenzabar, Inc., Oracle Corporation, SAP SE, Skyward, Inc., The Tribal Group plc, Unit4, and Workday, Inc.
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