Delray Beach, FL, Oct. 30, 2024 (GLOBE NEWSWIRE) -- The global Student Information System Market will grow from USD 15.33 billion in 2024 to USD 32.04 billion by 2029 at a compounded annual growth rate (CAGR) of 15.9% during the forecast period, according to a new report by MarketsandMarkets™.
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Student Information System Market Dynamics:
Drivers
- Need for enhanced student experience and engagement
- Rise in adoption of cloud-based solutions
Restraints
- Resistance to change and low user adoption
- Lack of appropriate infrastructure in developing and underdeveloped economies
Opportunities
- Integration with emerging technologies
- Emergence of potential markets in academic sector
List of Key Players in Student Information System Market:
- Oracle (US)
- Workday (US)
- Ellucian (US)
- PowerSchool (US)
- Jenzabar (US)
- Skyward (US)
- SAP (Germany)
- Anthology (US)
- Veracross (US)
- Blackbaud (US)
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Universities and schools have begun to use the best SIS solutions for students' records to be safe, retrievable, and well-organized. Institutions are inclined towards SIS Platforms with secure data policies such as encryption, multi-factor authentication, and role-based access control to keep students' information safe. Furthermore, cloud-based SIS platforms are growing popular because of the ability of the platforms to store voluminous data securely while allowing the user with proper authorization to retrieve data at any given time.
SIS platform providers also have interfaces that are easy to understand and modify for schools and universities; one can easily add tabs or modules according to the needs, such as attendance, performance, and finance. Institutions opt for SIS platforms with in-built backup features, data retrieval services, and timely software upgrades to increase security. This helps to maintain data sanctity and, at the same time, it helps to run the system on current levels of patch releases. However, by choosing the best SIS platforms, universities and schools not only protect the records of students but also provide easy access and performance optimization when working with data, which creates high comfort for employees and students.
The offering segment of the student information system market is divided into platforms and services. Student information systems are integrated, multifunctional applications that address all functions of a learning institution's administrative, academic, and communication processes. These platforms contain more information about the students, including enrollment details, grades, and attendance details, and offer a single point of view for both the student and the faculty. As for students, SIS platforms are invaluable as they provide students with real-time information on the current courses, upcoming exams, assignment due dates, and many other important 'nuts and bolts' of academic life. Also, these systems help them communicate with instructors, gain access to educational resources, and participate in school events and activities, improving their learning process. SIS platforms facilitate the different aspects of academic management, enabling students to be organized, informed, and actively participate in their learning process.
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The student information system market is segmented by region into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Asia Pacific comprises China, Japan, India, Australia & New Zealand, and the Rest of Asia Pacific. The Asia Pacific is one of the world's most developing regions, making this region very effective for the student information system market. It is estimated to be among the fastest-growing areas in the global student information system market due to a greater penetration of SIS platforms and services. Since both Japan and China are the most technologically developed countries in the region, they dominate the student information system market.
Currently, the Asia Pacific region is gradually occupying a larger share of the student information system market globally, especially in the education sector, as institutions adapt to modern technological tools and applications to improve their functioning. This trend opens up significant opportunities for providers of such SIS. Nevertheless, there may be some limitations in growth in some areas, considering that end users may have limited experience and infrastructure. However, there is a trend in most countries in the region to its implementation for using SIS applications, which positively affects the market's stability.
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