Pune: Education ERP Market is expected to grow at a CAGR of 15.9% between 2016 and 2021 while the market size is estimated to report a sharp jump from USD 6.77 billion in 2016 to USD 14.19 billion by 2021. This trend was revealed by a new market research report “Education ERP Market by Component Solution (SIS, Financial Management, HR/Payroll, Enrolment & Admission, Placement Management), Service, Deployment Type (Cloud, On-Premise), User Type (K-12, Higher Education), Region – Global Forecast to 2021.”
The major forces driving the Education ERP Market are increased demand for automated management of various business processes in academic institutions. Education ERP solutions enable educators to streamline various educational processes by managing several modules, such as HR/payroll, financial management, placement management, and SIS across the education sector. These solutions act as an innovative medium that help students succeed in the ever-widening digital world.
The cloud deployment type segment of the Education ERP Market is projected to grow at the highest CAGR during the forecast period. The cloud deployment type segment of the Education ERP Market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021. Cloud-based deployment type, also known as hosted deployment, offers cloud-based education ERP solutions to the academic sector. This type of deployment keeps the overall cost of the ERP solutions under control, while providing highly flexible and scalable access to ERP solutions. The educational institutions use hosted services to improve centralism, flexibility, collaboration of data, and reduction of data loss during transition.
The higher education user type segment is projected to lead of the Education ERP Market during the forecast period. The higher education user type segment is projected to lead the Education ERP Market during the forecast period, 2016 to 2021. Higher education institutions include private as well as government-funded colleges and universities. The dynamics of learning and teaching are changing in the higher education sector and organizations are depending on education ERP solutions to efficiently address these alterations. Education ERP solutions help in reinforcing the way administrative processes, such as HR/payroll, financial management, and enrolment interactions are carried out within campus premises.
The research report said “The North American region is expected to lead the Education ERP Market during the forecast period.”
On the basis of regions, the Education ERP Market has been segmented into North America, Asia-Pacific (APAC), Europe, Middle East & Africa (MEA), and Latin America. The North American region is estimated to lead the Education ERP Market in 2016, owing to increased demand for efficient management of various academic processes. ERP solutions in academic institutions have enabled administrators to manage various business processes, such as student billing, registration, and enrolments, effectively. Educational institutions across the North American region have rapidly adopted education ERP solutions to manage student information. The Asia-Pacific Education ERP Market is projected to grow at the highest CAGR between 2016 and 2021.
Some of the leading players in the Education ERP Market include, SAP AG (Germany), Blackbaud, Inc. (U.S.), Oracle Corporation (U.S.), Dell Inc. (U.S.), Epicor Software Corporation (U.S.), Ellucian (U.S.), Jenzabar, Inc. (U.S.), Infor, Inc. (U.S.), Unit4 Software (Netherlands), and Foradian Technologies (India).