Chicago, May 09, 2023 (GLOBE NEWSWIRE) -- The global Education ERP Market size is projected to grow from USD 12.7 billion in 2021 to USD 25.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period, according to a new report by MarketsandMarkets™. The education ERP market is gaining traction due to availability of cloud-based ERP solutions, need of automated management to carry out business processes in academic institutions, enhanced performance of administrative modules increasing the need for managing academic processes, and rising enrolments in the higher education sector.
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Scope of the Report:
| Report Metrics | Details |
| Revenue Forecast Size in 2026 | $25.2 billion |
| Market Size Value in 2021 | $12.7 billion |
| Growth Rate | CAGR of 14.7% |
| Key Market Growth Drivers | Need of automated management to carry out business processes in academic institutions |
| Key Market Opportunities | Integration of learning management systems and enterprise resource planning |
| Market size available for years | 2017–2026 |
| Base year considered | 2020 |
| Forecast period | 2021–2026 |
| Forecast units | USD Billion |
| Market Segmentation | Component, organization size, deployment mode, application, and region |
| Geographies covered | North America, Europe, APAC, Latin America, and MEA |
| Companies covered | SAP (Germany), Oracle (US), Blackbaud (US), Ellucian (US), Unit4 (Netherlands), Microsoft (US), Sage (UK), Infor (US), Foradian (India), Jenzabar (US), Anubavam (US), and many more. |
The advent of ERP solutions in academic institutions has enabled administrators to manage their business processes, such as student billing, registration, and enrolments, effectively. Academic institutions require improved management of student information to ensure proper retrieval of information across departments. Previously, students and teachers had to collaborate with administrators to manage courses. They delivered student information through manual processes. The increased demand for improved functionality of administrative modules from varied institutions has resulted in the implementation of ERP solutions in various educational institutions. The management of critical information is a tedious task, and institutions need to streamline their academic processes across all departments to ensure proper communication between them. ERP solutions have turned out to be quite effective as they are able to integrate activities effectively, enabling educators to integrate varied business processes for students, teachers, and faculties.
The scope of this report covers the education ERP market by component (software and services), deployment type, end user, application and region. Based on component, the services segment is expected to grow at the highest CAGR during the forecast period. Based on deployment type, cloud segment is expected to witness a higher growth rate during the forecast period. Based on end user, K-12 segment is expected to witness a higher growth rate during the forecast period. Based on application, the academic management segment is expected to witness a higher growth rate during the forecast period.
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APAC is expected to grow at the highest CAGR during the forecast period. APAC is one of the fastest-developing regions in the world and has the largest student population, making the region highly profitable for the education ERP market. The region is expected to be the fastest-growing market in the global education ERP software market due to the expansion of the customer base for the education ERP software users and the emerging trend of education ERP hybrid development. Education ERP solutions have been implemented across academic organizations. The benefits of education ERP solutions are visible for those organizations having implemented various modules of these solutions for carrying out administrative processes, such as student billing and registration. North America and Europe are widely developing and implementing education ERP solutions. In the Middle East and APAC regions, the adoption of education ERP solutions is still in its growth stage and expected to increase in the coming years. The adoption of education ERP solutions has benefited various organizations by managing functions and modules for teachers, students, and parents on a timely basis. Organizations in North America and Europe are well-equipped with the latest technologies related to the education ERP market. This is due to the increasing inclination of organizations toward the adoption of automated systems. Technologies are being innovated constantly to make business processes increasingly appealing for educators. Emerging markets in APAC, such as Australia, Japan, and China, are readily adopting ERP solutions, which have resulted in the growing demand for various administrative systems, such as Constituency Relationship Management (CRM) and school management software. Local software and product vendors are focusing on this market to offer ERP solutions to new entrants.
Frequently Asked Questions (FAQ)
What is the projected market value of the global Education ERP Market?
The global Education ERP Market size was valued $12.7 billion in 2021 and projected to reach $ 25.2 billion by 2026.
What is the estimated growth rate (CAGR) of the global Education ERP Market?
Education ERP Market is projecting a CAGR of 14.7% during 2021-2026.
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