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Global Education ERP Market Set to Reach $17.97 Billion in 2024 With a Notable CAGR of 14.8%, Driven by Accelerated Digital Adoption and Cloud-Based Solutions - Long-term Forecast to 2032 - ResearchAndMarkets.com

DUBLIN, April 09, 2024 /BUSINESS WIRE/ --

The "Education ERP Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.

The Global Education ERP Market is experiencing a robust expansion, anticipated to advance from $15.66 billion in 2023 to $17.97 billion in 2024. This rapid growth represents a compound annual growth rate (CAGR) of 14.8%.

Market dynamics indicate a progressive trend towards securing student information systems, stemming from an increase in data vulnerabilities and the imperative to protect educational financial data. Factors contributing to this growth include rising cybersecurity threats, the need for user authentication solutions, and the growing urgency to secure sensitive data within educational institutions.

Anticipated Market Trends

In the forthcoming years, the market is predicted to continue its rapid growth trajectory, with projections indicating a rise to $31 billion by 2028, maintaining a stable CAGR of 14.6%. This growth is expected to be driven by the widespread adoption of communication and collaboration tools, an intensified focus on user education, personalized learning experiences, and the globalization of cybersecurity considerations. Prominent trends shaping the market include digital transformation within educational settings, strategic integrations with Cloud-based Education ERP solutions, the adoption of Learning Management Systems (LMS), the utilization of data analytics, and innovative applications of artificial intelligence (AI) and chatbots.

Key Market Drivers

A paradigm shift towards digital education, supported by technology-enhanced learning and e-learning, has significantly promoted the usage of education ERP systems. These systems offer comprehensive management of resources and oversee myriad educational processes, fostering a streamlined administrative ecosystem within academic institutions. The integration of advanced technology has been noted as a facilitating factor for educational institutes to craft more customized degree programs, thereby fueling market growth.

Trends in Cloud Adoption

The education ERP market is also witnessing a surge in the adoption of cloud-based solutions, providing institutions with centralized control over diverse administrative tasks and the capability to efficiently manage vast quantities of data. The move towards cloud environments reflects a broader industry preference that significantly contributes to market expansion.

Product Innovation as a Market Catalyst

Product innovation remains a cornerstone of market growth, with leading industry players launching novel products designed to automate and enhance educational workflows. These technological advancements are poised to refine operational efficiencies in academic institutions, responding to the continuous demand for sophisticated educational management solutions.

Corporate Developments

Strategic acquisitions continue to shape the market landscape. A recent notable acquisition involves Practically's procurement of Fedena from Foradian Technologies Pvt. Ltd., a strategic move that positions Practically as a pioneer in providing comprehensive product offerings to the education sector.

Market Overview

The education ERP market is characterized by the software's critical role in managing computer operations and specific tasks, with applications across various functional domains including student and academic management, human resources, finance, and procurement. Catering to both higher education institutions and K-12 schools, the education ERP landscape is being driven by industry entities who are achieving substantive revenues through these solutions.

In summary, the Education ERP Market continues to grow at an impressive rate, bolstered by the increasing digitalization of educational institutions, the transition to cloud-based solutions, product innovation, and strategic corporate activities. With North America leading the market in 2023 and Asia-Pacific anticipated to emerge as the fastest-growing region, the industry shows no signs of slowing down, offering promising prospects for stakeholders across the global education sector.

A selection of companies mentioned in this report includes, but is not limited to:

  • SAP SE
  • Oracle Corporation
  • Ellucian Company L.P.
  • Blackbaud Inc.
  • Unit4 N.V.
  • ERPNext
  • Focus Softnet Pvt. Ltd.
  • Microsoft Corporation
  • Lighthouse Info Systems
  • Brainvire
  • Infor
  • Foradian Technologies
  • Jenzabar Inc.
  • MyClassCampus
  • NetSuite Inc.
  • OpenEduCat Inc.
  • Workday Inc.
  • Epicor Software Corporation
  • The Sage Group PLC
  • Acumatica
  • Deltek Inc.
  • Plex Systems
  • IQMS
  • Rootstock Software Inc.
  • SYSPRO Technologies
  • QAD Inc.
  • IFS AB
  • Ramco Systems Ltd.
  • Aptean
  • PowerSchool Holdings

For more information about this report visit https://www.researchandmarkets.com/r/kif4c1

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