DUBLIN, November 30, 2021--(BUSINESS WIRE)--The "Education ERP - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Education ERP Market to Reach $22.2 Billion by 2026
Global market for Education ERP, estimated at US$10 Billion in the year 2020, is projected to reach a revised size of US$22.2 Billion by 2026, growing at a CAGR of 13.8% over the analysis period.
Solutions, one of the segments analyzed in the report, is projected to grow at a 13% CAGR to reach US$16.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 15.9% CAGR for the next 7-year period. This segment currently accounts for a 28.8% share of the global Education ERP market.
Recent advancements in information technology have equipped educational institutions with new innovative tools for handling their operations. Academic institutions are increasingly adopting ERP solutions for improving their operational effectiveness, which in turn is providing them with a competitive edge.
Traditional data management processes and techniques are being replaced with cost-effective cloud-based ERP solutions, which offer enhanced data control, security, and storage capacity, bringing quantifiable and quick improvements in various administration processes.
In addition, these solutions provide administrators with real-time access to information, thereby enabling them to make well-informed and quick decisions. Rapid changes in business models and rising operational complexity have been posing challenges for academic institutions. The implementation of ERP solutions in academic institutions can help in alleviating the work burden of administrators, owing to the benefits of these solutions in effectively synchronizing and managing multiple business processes.
However, the high cost involved in the implementation of ERP solutions and the easy availability of open-source applications are hampering the widespread adoption of ERP solutions by academic institutions.
The market is poised to witness robust growth over the next few years, driven primarily by an increase in the number of private colleges, rising demand for operational transparency and efficiency in the education sector, and high competition among academic institutions to gain grants for improving the educational quality.
The education ERP market is currently in early development stages, presenting lucrative opportunities for all market participants in the coming years. While quality and innovation of ERP solutions are expected to be key differentiators for larger players, costs and service quality would remain major driving factors for smaller market participants.
At present, the educational system globally has been hit hard by the COVID-19 pandemic that resulted in significant challenges for educational institutions and students. The crisis encouraged a large number of schools and colleges to consider remote learning platforms for uninterrupted education for students along with online management systems for smooth administrative functions.
Online learning platforms enabled teachers to easily reach students and adjust with the work-from-home culture. The technology ensures connectivity between students and faculty for course materials and schedules along with virtual classes.
The pandemic set a perfect landscape for education ERP solutions in various regional markets, where government restrictions resulted in temporary closure of schools and higher education institutions. The situation prompted a large number of institutions to embrace online or remote education for uninterrupted learning for students.
In addition, various institutions have invested in automated institution management systems including education ERP, learning management tools and student information systems. On the other hand, education institutions have also reduced spending on new services and infrastructure development. Moreover, nationwide lockdowns across several countries created the requirement for institutes to conduct administrative and academic processes virtually, offering a strong boost to the education ERP market in the region.
The service segment holds the largest share of the education ERP market and is expected to maintain its dominance over the next few years. The growth in the services segment is primarily attributed to the rising adoption of technological modules and solutions in academic institutions.
Service providers are increasingly focusing on delivering dedicated services based on specific requirements of educational institutions. The services provide comprehensive functionalities for facilitating the institutions in timely implementing and managing the ERP system. Higher education is projected to maintain a larger share of the market, owing to the rapid changes in the nature of learning and teaching within the higher education sector.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Changing Face of Education amid COVID-19
How COVID-19 Sabbatical is Charting Path for Strong Foundation of Digital Learning in Education Space
How Educational ERP Pushes Operational Efficiency
Automation of Routine Tasks
Ensuring Effective Communication
Enhanced Data Security
Educational ERP: An Introduction
Select Modules of Education ERP
Key Factors Inhibiting Widespread Adoption of ERP Systems
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 70 Featured)
Ellucian Company L.P.
Epicor Software Corporation
3. MARKET TRENDS & DRIVERS
Emerging Technological Trends Favor Education ERP Software Market
Potential Future Advancements in Education ERP
Drive towards Going Paperless Widens Uptake among Educational Institutions
Cloud Education ERP Set to Make Big Gains
COVID-19 Pandemic Spurs Demand for Cloud Education ERP Systems
Emerging Trend of Automation in Education Presents a Major Market Opportunity
Educational ERP Essential to Manage Multiple Modules of Administration Software at Academic Institutions
Market to Benefit from Growing Number of Educational Institutions
Increasing Enrollment in Higher Education to Push ERP Adoption
Unified SIS-ERP Systems Seek Increasing Role
Lighter ERPs Lure Small- & Mid-Sized Academic Institutions
Video-Based Learning: The New Fad
Integration of Learning Management Systems (LMS) with ERP Software Helps Automate Workflows
Analytics Feature Augments Education ERP
Growing Emphasis on E-Learning Widens Addressable Market
Online School ERP Emerges as Great Savior for Schools during COVID-19
Increasing Digitalization of Education Supports Growth
Rapid Penetration of Smart Phones and Tablets Drive Growth
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/q61c3q
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