Education ERP Market worth $25.2 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 21, 2021 /PRNewswire/ -- According to a new market research report "Education ERP Market With Covid-19 Analysis by Component (Software, Services), Deployment Type, End User (K-12, Higher Education), Application (Student Management, Academic Management, Finance & Accounting Management), Region – Global Forecast to 2026", published by MarketsandMarkets™, the market size is projected to grow from USD 12.7 billion in 2021 to USD 25.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.
The Education ERP Market is gaining traction due to availability of cloud-based ERP solutions, need of automated management to carry out business processes in academic institutions, enhanced performance of administrative modules increasing the need for managing academic processes, and rising enrollments in the higher education sector.
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Software segment to account for largest market share during the forecast period
Software segment accounts for largest market share during the forecast period. Education ERP is an integrated software suite for managing and controlling numerous processes in educational institutions, such as schools, colleges, and universities. The software suite comprising various modules for applications, such as admissions, timetable management, learning management, examinations, fees management, library management, hostel management, payroll, HR, communication, and transport management. The implementation of ERP software in educational institutions facilitates enhanced student-faculty communication, tracking, and better decision-making through real-time data and analytics, convenient access to resources and institutional services, and automation of administrative processes, thereby enabling institutions to provide a digital campus experience for their students.
K-12 segment is expected to grow at the highest CAGR during the forecast period
K-12 segment is expected to grow at the highest CAGR during the forecast period. Schools are deploying ERP systems to carry out various administration activities. They are trying to incorporate digital learning methods. They are using learning management system to deliver lessons and upload study materials and assignments. Schools are also offering access to video-based content with augmented and virtual reality, making learning more interactive and engaging. They are nowadays using portals for parent-teacher communication. It allows parents to receive information related to school events, timetable, attendance, results, examinations, homework, and academic progress. Several schools which operate school buses are utilizing the transport module in the school ERP software, which is equally beneficial for schools and parents. It helps schools to manage their school bus routing and tracking and keep a record of the details of the drivers and buses.
Academic Management segment is expected to grow at the highest CAGR during the forecast period
Academic Management is expected to exhibit a higher CAGR during the forecast period. Academic management includes designing the teaching pedagogy, course management, setting up timetables, assignment management, and examination management. Education ERP software comes with various modules to automate academic management processes. Learning management system supports the goals of educational institutions by providing a digital classroom experience with innovative teaching methodologies. It offers a collaborative digital workspace enabling faculties to deliver online lectures, share educational resources, and conduct discussions through communication channels. The timetable management module helps schools and colleges of various size to schedule and manage timetables seamlessly. It also automatically allocates a substitute staff to a class during the absence of any faculty. Examinations module help in handling crucial operations, such as scheduling exams, defining grading criteria, setting up question papers, generating hall tickets, conducting proctored online exams, paper evaluation, and final scorecard generation, thereby simplifying the tasks of faculties. The recent shift to remote teaching and learning models is expected to drive the growth of this segment.
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APAC is expected to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. APAC is one of the fastest-developing regions in the world and has the largest student population, making the region highly profitable for the Education ERP Market. The region is expected to be the fastest-growing market in the global education ERP software market due to the expansion of the customer base for the education ERP software users and the emerging trend of education ERP hybrid development. Educational institutions in APAC are focusing on the implementation of digital solutions and the encouragement of the use of ERPs to seamlessly integrate key processes of an education institute, which include academic, financial, administrative and infrastructure, and communication. The rising significance of video-based learning in various economies, such as India, China, and Japan, will also contribute to drive the market in the region.
Key and innovative vendors in the Education ERP Market include Anubavam (US), Blackbaud (US), Brainvire (US), Edumarshal (India), Ellucian (US), Entab (India), Focus Softnet (UAE), Foradian (India), Infor (US), Jenzabar (US), LIBSYS (India), Lighthouse Info Systems (India), Microsoft (US), Oracle (US), Prolitus (India), Ramco Systems (India), Sage (UK), SAP (Germany), Serosoft (India), Skolaro (India), Sparkrock (US), TCS (India), Tyler Technologies (US), Unit4 (Netherlands), and Workday (US).
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