Student Information System Market by Component, User Type, Deployment Type, and Region - Global Forecast to 2023 - ResearchAndMarkets.com

DUBLIN--()--The "Student Information System Market by Component (Solution and Services (Professional Services and Managed Services)), User Type (K-12 and Higher Education), Deployment Type (Cloud and On-Premises), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global student information system market is expected to grow from USD 5.0 billion in 2018 to USD 9.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period.

Over the past decade, there have been significant changes in the higher education industry. With a lot of funding pressures and increased focus on student success and completion, IT plays a crucial role in delivering key services, enabling digital transformation and providing competitive institutional differentiation. The ability to achieve this is dependent on IT partnering with institutional leadership at a strategic level to meet institutional goals.

SIS provides integrated admissions, enrollment, registration, financial aid, student accounts, and advising information. Given the level of disruption that the higher education industry is currently facing and the rapid shift of preferences of students, institutions have assumed that the requirement for their SIS solution would change profoundly over the next decade. IT departments will have a significant opportunity to lay the groundwork for using technology to deliver innovation, flexibility, and agility, as well as, long-term value to institutions.

In the next few years, an increasing number of institutions will consider the cost of maintaining legacy systems and either upgrade to the next version of existing vendor solutions or replace legacy systems entirely with new vendor offerings. With the continued pressure of tight budgets and the need for differentiation in a competitive market, there is a growing appetite among institutions for upgrading or replacing legacy SIS solutions with modern technology. With SIS, too much of paperwork could be avoided. Mishandling of data is the biggest concern for many educational institutions; hence, to avoid such misuse, SIS solutions and services are designed according to the regulated guidelines and directives of educational institutions.

The major vendors in the SIS market include Oracle Corporation (Oracle), SAP SE (SAP), Ellucian Company L.P. (Ellucian), Workday, Inc. (Workday), Jenzabar, Inc. (Jenzabar), Unit4 N.V. (Unit4), Skyward, Inc. (Skyward), Eduware ntc. (Eduware), Tribal Group plc (Tribal Group), Campus Management Corp. (Campus Management), PowerSchool Group LLC (PowerSchool), Foradian Technologies Pvt Ltd (Foradian Technologies), Illuminate Education, Inc. (Illuminate Education), ComSpec International, Inc. (ComSpec), and Focus School Software LLC (Focus School Software).

The research report also studies the strategic alliances and acquisitions by global and local players in the SIS market. These players have majorly adopted the growth strategies, such as new product launches and product enhancements, to enhance their businesses in the SIS market and cater to the needs of diverse end users across regions.

Market Dynamics

Drivers

  • Rising Focus of Educational Institutions to Improve Education Quality and Customer Satisfaction
  • Widespread Government Initiatives and Technological Advancements in Educational Sector
  • Increasing Awareness Among the Educational Institutions to Improve the Administrative Process

Restraints

  • Lack of Awareness Among Educational Organizations About the Student Information System

Opportunities

  • Increasing Demand Among the Educational Institutions for Improved Connectivity Among Various Stakeholders
  • Advent of IoT and Smart Education

Challenges

  • Integration Issues With Organizations' Internal Processes
  • Lack of Expertise and Infrastructure Among End Users

Companies Mentioned

  • Arth Infosoft
  • Campus Management
  • ComSpec International
  • Ellucian
  • Focus School Software
  • Foradian Technologies
  • Illuminate Education
  • Jenzabar
  • Oracle
  • PowerSchool
  • SAP
  • Skyward
  • Tribal Group
  • Unit4
  • Workday

For more information about this report visit https://www.researchandmarkets.com/r/uqbspm

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Related Topics: Information Management

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Information Management