Global Education ERP Market to Reach $22.2 Billion by 2026 | News

SAN FRANCISCO, March 3, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “ERP Education – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.

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Editing: 9; Published: February 2022

Executive Pool: 19464

Companies: 70 – Players covered include Blackbaud, Inc.; DellEMC; Ellucian Company LP; Epicor Software Corporation; Foradian Technologies; Info; Jenzabar, Inc.; Oracle Corporation; SAP SE; UNIT4 NV and others.

Blanket: All major geographies and key segments

segments: Component (Solutions, Services); Deployment (cloud, on-premise); End use (higher education, other end uses)

Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.

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ABSTRACT-

Global ERP for education market to reach $22.2 billion by 2026

Recent advances in information technology have provided educational institutions with new and innovative tools to manage their operations. Academic institutions are increasingly adopting ERP solutions to improve operational efficiency, giving them a competitive advantage. Traditional data management processes and techniques are being replaced with cost-effective, cloud-based ERP solutions, which provide improved data control, security and storage capacity, bringing quantifiable and rapid improvements in various administrative processes. In addition, these solutions provide administrators with real-time access to information, allowing them to make informed and timely decisions. Rapidly changing business models and increasing operational complexity have posed challenges for academic institutions. Implementing ERP solutions in academic institutions can help ease the workload of administrators, due to the benefits of these solutions in effectively synchronizing and managing multiple business processes. Higher education is entering a new era of limited resources and increased competition, pushing institutions to opt for cost reduction strategies and to review business processes and ERP systems to improve operational efficiency. ERP systems are transforming higher education institutions by reducing costs and optimizing business processes using advanced technologies, including automation and analytics. However, the high cost involved in implementing ERP solutions and the easy availability of open source applications hinder the widespread adoption of ERP solutions by academic institutions.

Amid COVID-19 Crisis, Global Education ERP Market Estimated at US$13.7 billion in 2022, is expected to reach a revised size of US$22.2 billion by 2026, growing at a CAGR of 13.8% over the analysis period. Solutions, one of the segments analyzed in the report, is expected to grow at a CAGR of 13% to reach US$16.6 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Services segment is readjusted to a revised CAGR of 15.9% for the next 7-year period. This segment currently accounts for a 28.8% share of the global education ERP market.

The US market is estimated at $4 billion in 2022, when China is expected to reach $4.3 billion by 2026

The education ERP market in the United States is estimated at 4 billion US dollars in 2022. The country currently accounts for a 29.65% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$4.3 billion in 2026 with a CAGR of 16.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 11.9% and 12.9% respectively over the analysis period. In Europe, Germany is expected to grow at around 12.3% CAGR while the rest of the European market (as defined in the study) will reach US$4.9 billion at the end of the analysis period.

The market is poised to witness robust growth over the next few years, driven primarily by an increase in the number of private colleges, growing demand for operational transparency and efficiency in the education sector, and stiff competition between academic institutions to obtain grants to improve teaching quality. The education ERP market is currently in its infancy, presenting lucrative opportunities for all market players in the coming years. While the quality and innovation of ERP solutions are expected to be key differentiators for large players, cost and quality of service would remain driving factors for smaller market players. At present, the education system around the world has been hit hard by the COVID-19 pandemic which has brought significant challenges to educational institutions and students. The crisis has encouraged a large number of schools and colleges to consider distance learning platforms for uninterrupted education for students as well as online management systems for smooth administrative functions. Online learning platforms have made it easy for teachers to reach students and adapt to the work-from-home culture. Technology provides connectivity between students and faculty for course materials and schedules as well as virtual classrooms.

The pandemic has created a perfect landscape for education ERP solutions in various regional markets, where government restrictions have led to the temporary closure of schools and higher education institutions. The situation has prompted a large number of institutions to adopt online or distance learning for uninterrupted student learning. In addition, various institutions have invested in automated institutional management systems, including educational ERPs, learning management tools, and student information systems. On the other hand, educational institutions have also reduced spending on new services and infrastructure development. Additionally, the nationwide shutdowns in several countries have forced the institutes to conduct administrative and academic processes virtually, which has greatly boosted the education ERP market in the region.

The service segment holds the largest share of the education ERP market and is expected to maintain its dominance over the coming years. The growth of the services segment is mainly attributable to the increasing adoption of technological modules and solutions in educational institutions. Service providers are increasingly focusing on providing dedicated services based on the specific requirements of educational institutions. The services provide comprehensive functionality to help institutions implement and manage the ERP system in a timely manner. Higher education is expected to retain a larger share of the market, due to rapid changes in the nature of learning and teaching within the higher education sector. Continued

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SOURCE Global Industry Analysts, Inc.