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(Wireless-NewsWire.Com, June 07, 2018 ) The education ERP market is projected to grow from USD 6.77 Billion in 2016 to USD 14.19 Billion by 2021, at a CAGR of 15.9% from 2016 to 2021. The education ERP market is gaining significant importance among various users due to increasing demand for automated management of varied business processes in academic institutions. Hence, increased adoption of education ERP solutions in the academic sector and high connectivity rate offered by these solutions are the factors fueling growth of the market.
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This report provides detailed insights into the education ERP market. The market has been segmented on the basis of component, deployment type, user type, and region. On the basis of deployment type, this market has been classified into cloud and on-premise. The cloud deployment type segment of the market is projected to grow at the highest CAGR during the forecast period. The growth of the cloud deployment type segment can be attributed to various advantages offered by this deployment, which include easy integration, minimum cost deployment, and no requirement of initial capital outlay for purchasing software.
Among user types, the higher education segment is expected to lead the education ERP market during the forecast period. Higher education institutions include government-funded colleges and universities. Though these institutions vary from region to region on the basis of local law, the basic system of post-secondary education remains constant in higher education institutions. Technology-enabled learning in higher education plays a key role in broadening access to geographically distant students. 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 education ERP market, by region has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Countries in the Asia-Pacific region are considerably contributing towards the growth of the market, owing to rapid adoption of various education ERP solutions by educational institutions of the region. However, the growth of the Asia-Pacific market is fragmented and a number of local players have been making contributions to this market, thereby resulting in highly competitive ecosystem of the Asia-Pacific education ERP market.
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The report covers all major aspects of the education ERP market and provides an in-depth analysis across the North American, European, Asia-Pacific, the Middle East & Africa (MEA), and Latin American regions. The North American region is estimated to account for the largest share of the market in 2016, owing to increased demand for managing various academic processes. Adoption of ERP solutions in academic institutions has enabled administrators to manage their business processes, such as student billing, registration, and enrolments, effectively.
ERP solutions are being adopted and implemented in the education sector. Moreover, there is an increase in demand for ERP solutions that integrate with administrative solutions to offer comprehensive enterprise solutions. This has encouraged vendors to offer new solutions that are capable of harnessing potential storage strength of various business processes. However, school management software, SIS, and learning management systems (LMS) are being preferred over ERP solutions, as they are economical, less complex, and are easily available. Hence, administrative systems act as a restraining factor for the growth of the education ERP market.
Most of the enterprises have adopted new product launches, acquisitions, and partnerships as key growth strategies to enhance customer experience. For instance, in July 2016, Oracle acquired NetSuite (U.S.), the world's leading provider of cloud-based business management software for USD 9.3 billion. This acquisition is expected to help Oracle expand its global reach and increase availability of its cloud solutions. The strategy of new product launches has also been adopted by top players to strengthen their foothold in the education ERP market. For instances, in June 2016, SAP AG launched its cloud-based learning offering known as SAP Learning Hub. It is a cloud-based enablement site for entire SAP ecosystem. It helps customers update their SAP skills, develop knowledge about the latest innovation areas, and secure their technologies.
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