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.
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, according
to report published by MarketsandMarkets.
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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.
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.
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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).
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