The student information system market is expected to grow at a CAGR of 13.2% during the forecast period (2021-2026).
Student Information System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The growth is majorly driven by increased digitization in the education industry, growing inclination towards e-learning, and emphasis on improving the quality of education. However, the lack of trained users might hamper the growth of the market.
- Schools and training centers are moving from the traditional blackboard approach to integrating smart technology into learning environments. At the university level, institutions are adopting innovative methods, such as student information systems, to optimize the overall institution operations by shifting focus from manual workload and labor to providing opportunities for students to develop relevant and valuable skills in line with industry requirements the system offers remote access, security, data backup, and cost-effectiveness.
- These systems help in creating the modern, intuitive experience that students, faculty, and staff expect when transacting business on campus, increasing operational efficiency by eliminating data silos and paper-based processes and automating workflows, sustaining financial resources by identifying new sources of revenue and removing unprofitable programs, Providing campus leaders with real-time analytics dashboards and leveraging modern best practices and technology to recruit, retain, and develop top faculty and staff.
- - For instance, The University of Nottingham is a large, complex organization, with three campuses across the world (in the UK, China, and Malaysia). It is the seventh-largest university in the UK, with 8,000 staff and 46,000 students. The University rolled out Oracle’s PeopleSoft Campus Solutions across all three campuses in December 2018. All three campuses are now using a single, integrated system, which is expected to increase efficiencies, reduce costs, and improve the user experience for both employees and students.
- The recent COVID-19 outbreak also negatively impacted the education industry worldwide. With the ongoing lockdown schools and colleges have come to a complete hault and have started implementing online solutions to continue the scheduled curriculum and assessments for the year. In this scenario student information system are expected to grow in countries having good network infrastructure and internet penetration. However, these systems cater to comparatively less number of institutes with respect to the current demand for education and thus cost might become one of major factors hindering the growth of the market as this may result in loss of oppotunity in emerging countries.- View Full Report with TOC @https://www.statzyreports.com/report/sr498863/student-information-system-market
Key Market Trends
Cloud Segment is Expected to Witness SIgnificant Growth
- The need for institutions to provide access to data 24/7 and deliver a more personalized and seamless student experience is vital. Supported by cloud technologies, institutions can see a rapid return on investment and keep moving at pace in this increasingly competitive environment. Solutions usually include software packages such as student management systems, student information management systems, student records systems, and others, which require more data storage capabilities and thus provide growth opportunities for cloud-based student information systems.
- For instance, in March 2020, Ellucian announced that the Arkansas State University (ASU) System, a network of universities in Arkansas serving nearly 23,000 students, selected Ellucian Banner as its unified, cloud-based student information system. The statewide effort to align higher education institutions, the ASU System would implement Banner to achieve a shared, scalable cloud platform designed to increase collaboration, combine resources, and support future growth among the system’s schools.
- Moreover, due to the ongoing pandemic, the education institutes have come to a total shutdown, and the demand for solutions such as student information systems has spiked rapidly. According to the latest figures released by the UNESCO, 1.3 billion learners around the world were not able to attend schools, as of March 23, 2020. Many schools, colleges, and universities are closed across the globe.
- As the systems offer cloud deployment, which has higher storage and processing capabilities, the number of features embedded in the system can also increase, facilitating all the requirements demanded in the challenging times right from enrolling the student to maintaining alumni network base which otherwise would be a tedious and time-consuming task.
Asia Pacific to Witness Significant Growth
- A student information system with specific built-in mechanisms caters to the purpose of the school management system at the same time meeting the demands of student-related information management in developing countries such as China, India, Indonesia, Malaysia, among others majorly in K-12 Education. However, the growth highly depends upon the penetration of devices such as good computers and networking with decent internet connectivity and robust security.
- There are diverse sets of countries at different levels of income and development in central Asia. The spread, use, and availability of student information systems are essential for the growth of the market, as is the availability of online learning materials, as well as devices and the level of internet connectivity at home.
- For instance, the school education system in India is the largest in the world with over 1.5 million schools, over 8.7 million primary and secondary teachers, and more than 260 million enrolments, is home to the largest and most complex education system in the world catering to over 260 million young population each year making it a region with immense opportunities for student information system vendors to penetrate and increase its customer base.
- Moreover, Governments of various countries in the region are taking initiatives to provide quality education and increase the literacy rate, which is expected to help the market grow in the longer run. For instance, the Chinese government is funding technology initiatives that are aimed at narrowing the gap between the quality of education in rural and urban areas. They have deployed a live-streaming network that connects hundreds of students spread across a vast expanse of China’s countryside.
Competitive Landscape
The student information system market is moderatly competitive, primarily owing to the presence of multiple players in the market operating in the domestic and international markets. The players in the market are adopting strategies like partnerships and expansions to increase their product functionality and expand their geographic reach.
- In February 2020, Ellucian partnered with OnePLM to drive digital transformation for specialist providers of higher education. The partnership is aimed to aid the growth of their leading Software-as-a-Service (SaaS) solution Ellucian Quercus, developed for specialist providers of higher education.
- In October 2019, Campus Management, a provider of cloud-based SIS, CRM, and ERP solutions and services, showcased the latest innovations for its CampusNexus Cloud platform, powered by Microsoft Azure, and next-generation analytics capabilities at EDUCAUSE 2019 in Chicago.
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