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According to a new report Global Student Information System Market, published by KBV research, The Global Student Information System Market size is expected to reach $18.7 billion by 2027, rising at a market growth of 14% CAGR during the forecast period.
On the basis of component, the student information system market is divided into two categories software and service. In 2020, the software segment acquired the maximum revenue share of the global Student Information System market. Educational institutions are looking for solutions that can readily fit with their internal procedures and boost productivity. The demand for Student Information System software is rising around the world as educational institutions place a greater emphasis on operational efficiency. Additionally, colleges are utilizing Student Information System to improve the quality of education while reducing the costs.
The K-12 segment would increase at a promising growth rate during the forecast period. Changing student demographics and expectations are influencing how education is distributed among diverse in-person and online learning environments. New educational technologies are enhancing personalization, improving teaching and learning results, and improving student achievement. The K-12 market has a lot of room for expansion.
North America emerged as the leading region in the student information system market in 2020. The factors responsible for the growth are increasing awareness among the higher educational institutions in the region. The existence of leading market players that are inclined for upgrading the SIS software with new technologies would aid the growth of this region. Moreover, the regional market is likely to be driven by an increase in demand for SIS implementation in universities to improve student and school administration.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SAP SE, Oracle Corporation, Tribal Group Plc, Workday, Inc., Jenzabar, Inc., Skyward, Inc., Foradian Technologies Private Limited, Anthology, Inc., Ellucian Company L.P. and Beehively.
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