The global Student Information System market size to grow from USD 10.2 billion in 2022 to USD 20.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period. Student information systems help academic institutions to manage business processes, such as enrolments, academics, financial aid, and billing effectively. They help to manage student information in an organized, holistic and cost-effective way. SIS solutions help to eliminate manual effort and time required to maintain and organize records, thus helping institutions to streamline their academic processes. However, there is a risk of data loss and security breaches which restricts the growth of the market. Schools and higher education institutions are a common target for identity theft and fraud. If proper precautions are not taken, the huge repository of student records might get exposed to risks.
“By Solutions, the billing subsegment to grow at the highest CAGR during the forecast period”
The billing subsegment is expected to grow at the highest growth rate during the forecast period. Billing solutions in SIS include student tuition payments, invoicing or online bill payments, and financial reporting and record-keeping. SIS solutions offer tuition payment processing features so that students can handle all of their billing issues in one place. It enables students, parents or guardians to inspect tuition fee invoices and proceed with payments directly using a secure payments system.
“By Professional Services, the deployment & integration subsegment to hold the larger market share”
The deployment & integration subsegment is expected to hold a larger market size. Deployment & integration services help institutions implement SIS solutions as per several business requirements. System integration services are gaining wide acceptance by end users globally as they help ensure a satisfactory user experience, adhere to IT standards and manage budgetary guidelines.
“By End User, the K-12 segment to grow at the higher CAGR during the forecast period”
The K-12 segment is projected to grow at the higher CAGR during the forecast period. A K-12 student information system, stores and tracks all student data, such as grades and attendance, that teachers or administrators need to manage their classrooms or run their schools. It enables teachers, students, and parents to access all relevant information pertaining to a student’s schooling.
The breakup of the profiles of the primary participants is given below:
- By Company: Tier 1 – 20%, Tier 2 – 25%, and Tier 3 – 55%
- By Designation: C-Level Executives – 40%, Directors – 33%, Others – 27%%
- By Region: North America – 32%, Europe – 38%, Asia Pacific – 18%, Middle East & Africa – 7%, and Latin America – 5%
Note: Others include sales managers, marketing managers, and product managers.
Note 1: Tier 1 companies’ revenues are more than USD 1 billion; tier 2 companies’ revenues range between USD 1 billion and USD 500 million; tier 3 companies’ revenues range between USD 500 million and 100 million.
Note 2: The figure above represents the indicative list of primary profiles
MarketsandMarkets segments the Student Information System Market based on Component (Solutions and Professional Services), Deployment Mode (Cloud and On-premises), End User (K-12 and Higher Education), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
The report also provides a comprehensive review of the drivers, restraints, opportunities, and challenges in the student information system market. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons To Buy the Report
The report would help the market leaders and new entrants in the following ways:
- It comprehensively segments the Student Information System market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
- It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
- It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launch, product enhancement, partnerships, mergers and acquisitions.