DUBLIN--(BUSINESS WIRE)--The "Global Education ERP Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Deployment Model, By End User (Higher Education and K-12), By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Education ERP Market size is expected to reach $32.3 billion by 2028, rising at a market growth of 14.2% CAGR during the forecast period.
Enterprise resource planning (ERP) is a process management software that allows enterprises to combine business management with a variety of automated operations. The education ERP aids in the automation of admissions, the reduction of back-office processes and time spent on the admissions process. Education ERP's main advantages include increased efficiency, cost-effectiveness, and data security.
It automates the fee collecting process by automatically categorizing the money collected and keeping track records of all cost structure aspects, such as amounts paid for entry, tuition, books, labs, and so on, to keep students completely informed and up to date about their fee status. Additionally, the technology solution aids in the generation of automated notifications ensure that kids or their parents are notified on time, utilizing the most appropriate forms of communication.
Installing an ERP system for an educational institution is cost-effective. The feature-rich application assists in minimizing manual activities associated with critical methods of school administration, such as payroll, admission, fee collections, and others, in order to reduce the number of man-hours and save money. The money spent might be put towards important educational aims.
There are numerous ERP modules for educational institutions depending on their distinct demands, it provides personalized portals so that all stakeholders may access the notifications, information, and updates that are important to them. Students can use these portals to check uploaded assignments, upload completed work, see class schedules or timetables, test timetables, pay fees or bills for other activities, fill out forms or submit requested details, and anything else that is needed.
Market Growth Factors
Presence of cloud based ERP solutions
ERP technologies have increased the operational effectiveness of numerous academic institutions, giving them a competitive advantage. Traditional data management approaches and processes are being replaced by cloud-based ERP solutions. The scalability, privacy, and control of data are all improved with a cloud-based ERP solution. It also provides administrators with real-time access, it allows them to make quick and well-informed decisions. Academic institutions face problems from rising operational complexity and quick changes in business strategies. As a result, ERP solutions were adopted in a variety of academic institutions, reducing the stress on administrators by allowing them to effectively synchronize and manage numerous business activities.
Efficiency Due to Automation & Streamlining of Recruitment Process
Automation features in the education ERP package also minimize the amount of human labor required for routine operations, such as pulling data from many systems utilized by different departments. All school departments, such as administrative, infrastructure, finance, academics, and communication, are connected through ERP software. It secures information exchange between departments and ensures that all data is collected in a centralized computer that can be accessed at any time. Certain organizations are also required to provide detailed reports to regulating authorities, which are generally done manually and take time.
Market Restraining Factors
Lack of Awareness about Education ERP and its High Costs
Most educational establishments and faculties across the world have obstacles in implementing ERP approaches in their educational systems. The public in various developing nations is still unaware of the benefits of using education ERP solutions. Several academic institutions are still unaware of how education ERP systems can help them handle data safely and with maximum flexibility, limiting the Market 's growth. Furthermore, the expensive cost of implementing ERP solutions is a key stumbling block to Market expansion. Some school systems are aware of ERP technology, but due to the high cost of ERP, they are finding it difficult to apply these solutions.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Software
- Services
By Application
- Student Management
- Academic Management
- Human Resource Management
- Finance & Accounting Management
- Stores, Procurement Management & Others
By Deployment Model
- On-premise
- Cloud
By End User
- Higher Education
- K-12
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Workday, Inc.
- Infor, Inc. (Koch Industries)
- Brainvire Infotech, Inc.
- Serosoft Solutions Pvt Ltd. (The Hindustan Group)
- Unit4 N.V. (Advent International)
- Ellucian Company L.P.
- Jenzabar Inc.
For more information about this report visit https://www.researchandmarkets.com/r/yto3t4
