The global student information system market size is expected to reach USD 32.38 billion by 2030, registering a CAGR of 20.3% from 2023 to 2030, according to a recent report by Grand View Research, Inc. The Student Information System (SIS) is popular among administrators and educators to gain accessibility of data to evaluate students’ performance based on the institutions’ goals and missions. Institutions are generating huge amounts of data such as application data, personal data, financial data, facilities and estates data, and admission data. Moreover, the increasing demand for collaborative visualization of data and presentation of procedures to learn and adjust to the pattern and needs of users is expected to drive the market over the forecast period.
The growing adoption of cloud-based learning management systems is directly influencing the growth of the market. These cloud-based solutions include software packages such as student management systems, student record systems, which require more data storage capabilities and provide growth opportunities for cloud-based student information systems. The increasing adoption of advanced technologies and new concepts of education including online classes, digital assignments, and animated teaching also positively influences the growth. For instance, in April 2020, BYJU’S, an educational technology company, witnessed a growth of 150% in the number of new students registering in a span of 1 month from March 2020 to April 2020. The corresponding volume augmentation of new students was tantamount to a whopping 6 million new students. This clearly shows the significant rise in the adoption of new platforms for learning delivery, finding a slew of takers.
Gather more insights about the market drivers, restrains and growth of the Global Student Information System Market
With the growing demand for automated management of various business activities in academic institutions, the education Enterprise Resource Planning (ERP) market is gaining substantial traction among various users. As a result, greater use of education ERP solutions in the academic sector and the high connectivity rate offered by these solutions, are driving the SIS market. However, several academic institutions are facing problems from increasing operational complexity and quick changes in business strategies. These student information systems alleviate the work stress of the administrators as they are better equipped to deal with business contingencies, with enhanced technologies with ready synchronizations and interoperability.
Student Information System Market Report Highlights
· The cloud segment is anticipated to witness a significant CAGR of 22.2% during the forecast period. The Cloud-based SIS software and services provide scalable and flexible access to solutions and reduce the energy and costs needed to deploy. Therefore, owing to these benefits, the segment is expected to register significant growth over the forecast period
· The service segment is anticipated to register a considerable CAGR of 21.1% over the forecast period due to the demand for software integration capabilities from educational institutions and security services offered by student information system vendors. The shift from an on-premise to a cloud model is also expected to propel the growth of the segment over the forecast period
· The K-12 segment is expected to register a significant CAGR of 20.0% over the forecast period. Evolving student demographics, demand for skill-oriented education, increase in online and distance education in emerging economies such as the Asia Pacific and Africa, and rise in e-learning mobile applications are some of the key factors driving the growth of the segment
· The financial management segment is expected to register a significant growth of 21.6% from 2023 to 2030, attributable to the benefits that this segment offers such as high integration capabilities, artificial intelligence, and advanced analytics solutions offered by student information system vendors
· Asia Pacific is expected to emerge as the fastest-growing region with a CAGR of 22.5% over the forecast period. The region is benefitting from the rising focus of educational institutions on digital solutions for gaining operating efficiency. Countries such as China, Indonesia, India, and Malaysia are reporting high penetration of student information systems in K-12 Education for aiding school management and providing relevant information to students
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Student Information System Market Segmentation
Grand View Research has segmented the global student information system market based on component, deployment, application, end-use, and region:
Student Information System Component Outlook (Revenue, USD Million, 2018 - 2030)
· Software
· Service
Student Information System Deployment Outlook (Revenue, USD Million, 2018 - 2030)
· Cloud
· On-premise
Student Information System Application Outlook (Revenue, USD Million, 2018 - 2030)
· Financial Management
· Student Management
· Admission & Recruitment
· Student Engagement & Support
· Others
Student Information System End-use Outlook (Revenue, USD Million, 2018 - 2030)
· K-12
· Higher Education
Student Information System Regional Outlook (Revenue, USD Million, 2018 - 2030)
· North America
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
· Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
· Latin America
o Brazil
o Mexico
· Middle East & Africa
o Saudi Arabia
o South Africa
o UAE
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