The student information system market is expected to reach US$ 16.5 Bn by 2031, and is estimated to grow at a CAGR of 14.4% during the forecast period 2021-2031.
According to latest research by Future Market Insights, student information system market is set to witness significant growth during 2021-2031.
Student information system are web-based application software which offers a conducive and structured information including recruitment, career development, student support, courses, documenting grading, transcripts, results of tests and assessment scores, building student schedules, tracking student attendance, managing different student-related data needs in a school, and alumni relationship management in the student domain.
The market will show significant growth in coming years, owing to increase in digital transformation in education industry as well as adoption of advance technology in education sector. Moreover, lack of information, infrastructure and awareness about student information system and data security will restrains the growth of the student information system market.
Increasing penetration of internet & mobile devices and digital transformation of educational sector in recent years augmenting the growth of student information system market. SIS software offers mobile applications, cloud accessibility, behavior tracking, and analytics capabilities.
Such features are feasible to access due to increasing use of mobile and adoption of advance technology in communication sector. Educational institute are also trying to upgrade quality of their education and administration process with the help advance technologies such as Artificial Intelligence (AI), machine learning, cloud computing, and Internet of Things (IoT).
Adoption of Machine Learning (ML), edge computing, Artificial Intelligence (AI), and 5G telecommunication technology in education industry fuels the growth of the student information system market. Integration of AI technology into SIS solutions provides more engagement and helps to contribute in student’s academic career performance.
Rise in adoption of mobile device, 5G technology, mobile accessibility and cloud migration fuels the growth of student information system market. The technologies like Machine Learning (ML), edge computing, Artificial Intelligence (AI), and 5G telecommunication makes easier to provide make, handle student information, interaction with school, and manage educational data of students.
Also it helps staff and faculty to assess the current conditions, analyze data, find answers, and make informed decisions.
US is one of the largest markets for student information system market globally. The US student information system is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031.
U.S. attributes to considerably high investments in new advanced technologies like Machine Learning (ML), Artificial Intelligence (AI), cloud, IoT, mobility, big data, analytics, and digital transformation and 5G. The government of US supports to the technology like AI and ML technologies for the investment purpose.
So adoption of advanced technologies by educational institutes like Machine Learning (ML), edge computing, Artificial Intelligence (AI), and 5G telecommunication technology will propel the market growth of student information system in US.
The European student information system market is clearly dominated by the UK, Germany and France. Many countries in EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. Europe is second largest markets for student information system market after U.S.
Europe has many top educational institutes which improves their education and administration process. Furthermore government supports the education sector will augment the growth of student information system market. Increase in educational tourism and high annual foreign student arrivals in countries such as France, Germany, and the U.K. also fuels growth of the student information system market in Europe region.
Some of the leading vendors and companies of student information system include
Key players in the student information system market are focusing on technology integration and strategic partnerships with the regional vendors to collaborate for offering advanced customer experience solutions to effectively manage their business operations.
Furthermore, many companies are focusing on multiple partnership with leading tech-1 tech-2 players present in this market. For instance, on May 2021, Unifyed announced partnership with SAP & Instructure, to power the cloud-based finance and human. Unifyed enables students to more easily register for classes and get notified when they have an overdue balance or when grade gets posted.
The company’s course catalogue, class registration and degree audit functionality will make it easier to plan course offerings based on student’s performance through academic programs.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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