Global Education ERP Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Vikas Kumar
- January 18, 2022
- NEWS, TELECOM & IT
- Education ERP Market Growth, Education ERP Market news, Education ERP Market Share, Education ERP Market Size, Education ERP Market Trend
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The global Education ERP market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 15% during the forecast period (2021-2027).
With internet users growing by an average of more than 1 million new users every day, it has been observed that the number of users is surging at an explosive rate of more than 11 new users per second globally. Mobile internet penetration, as well as mobile application use, also account for an ever-increasing share of online activities which generates the demand for education ERP solutions. Mobile phones capture the major share of the total time spent by people on the internet. For instance, smartphone activities taking up the most time (over three hours a day) include instant messaging (38%), social media use (35%), listening to music (24%), and web browsing (20%). The activities taking up the least time (under five minutes a day) are SMS texting (51%), watching movies (43%), reading, and writing e-mail (38%), and talking on the phone (32%).
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The rising trend of e-learning, online classes, and distance education has proliferated the demand for education ERP solutions. Education institutions involve dealing with a multitude of data and information. Processing and storing such a large amount of data & information in the form of records, maintaining the date and time of processed information is a tedious task. Moreover, education institutes also need to manage exams, admission, accounts, web portals, procurement of school goods, and staff that require attention to detail. This is the reason a perfect digital solution is extremely necessary for education institutes.
Furthermore, a rise in internet penetration globally coupled with the adoption of smart devices such as laptops, phones, and tablets is leading to the growth of the market. As of 2021, the global average internet penetration is 65.6%, in which North America region is the leading region with 93.9% whereas Africa has the lowest penetration with 43.2%. Moreover, the global shipments of laptops are expected to increase from 173 million units to 272.4 million units by 2025, as revealed by Statista.
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Moreover, the growing demand for the total control of technology, administration & management of organizations, particularly for education institutions, has become a tiresome and intricate task. It requires careful planning, a systematic approach, and accurate control of administrative processes to attract the best students, produce the best results, and project the best image. The benefits of education ERP such as Manage student information efficiently, Record student billing and payments, Automatically maintaining grades, connecting prospective students, current students, faculty, and alumni through portals to manage admissions, registration, student records, financial aid, fiscal management, HR/payroll, fundraising management, and alumni relations
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The pandemic has also brought a sudden disruption to education systems around the world, many of which have operated in the same way for centuries. As per UNESCO, More than 1.5 billion students and youth across the planet are or have been affected by school and university closures due to the COVID-19 pandemic. Moreover, colleges and schools around the world have closed their campuses and moved delivery of their programs online. However, it is not just currently enrolled students who are learning from their laptops. Non-traditional learners, who would usually have full-time in-person jobs and a myriad of obligations, are making the most of their spare time by up-skilling through online courses, which would add pace to the growing demand for education ERP in the forthcoming years.
Based on the components, the market is fragmented into solutions and services. The solution segment grabbed the major market share and dominated the market. the growing adoption of ERP in the education industry in developing countries is one of the key factors driving the growth of the market. Moreover, the launch of several ERP solutions and services is leading to the growth of the market. For instance: In 2020, G2 launched several new software categories for education ERP software, offering our most comprehensive breakdown to date of the top tools for school management operations
Based on the deployment, the market is fragmented into on-premise and cloud. The on-premise segment grabbed the leading market share and dominated the market. However, the cloud segment would witness the highest CAGR in the forthcoming years. The traditional in-house premise ERP system has its limitations. The system may malfunction if the load is more. It may not allow the students to take the tests or learn or even mark attendance. While cloud education, ERP offers seamless service. There is no breakage of the network, and it can be accessed 24 hours and 365 days without any hassle.
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Additionally, the report provides detailed initiatives that are being taken in the field of Artificial Plants. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America region dominated the market and grabbed major market share in 2020. A rise in smartphone adoption coupled with the presence of numerous ERP solution providers in the countries such as the united states and Canada is leading to the growth of the Education ERP market in North America. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period.
Global Education ERP Market Segmentation
Market Insight, by Component
Market Insight, by Deployment Type
Market Insight, by Application
- Student Management
- Academic Management
- Human Resource Management
- Finance and Accounting Management
- Stores and Procurement Management
Market Insight, by End-User
- Higher Education
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Focus Softnet