Academic Software Market is anticipated to reach US$ 2.7 billion, at a CAGR of 12.7% during the forecast period 2021-2031

The global academic software market was valued at US$ 0.8 billion in 2021 and it is anticipated to grow up to US$ 2.7 billion by 2031, at a CAGR of 12.7% during the forecast period.

Any application designed to facilitate teaching and learning can be called academic software. Academic software is a modern workplace deployment solution where every type of user (staff, student, teacher, researcher) can access, deploy and license the tools they need through the single sign-on of their institution. Users can use the software to create educational content, manage online courses, track the attendance of teachers and students and collect course fees. Academic software usually provides a common digital platform to both students and teachers. Students often use these products to access course materials, participate in group studies & discussion forums, and submit assignments. Conversely, the software allows teachers to organize classes, monitor progress, assess student's performance and contact parents. Additionally, the more advanced academic software comes with analytics and reporting functionality to help educators measure the effectiveness of their training programs.

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Market Drivers and Trends

Over the past few years, educational institutions have sought academic software solutions to enhance or replace their existing systems. Educations institutions are acquiring and integrating components such as the student information system (SIS), a financial and human resources and payroll system from another, and a research administration system from yet another. Education institutions adopt these advanced SIS tools to achieve higher efficiency, flexibility, effectiveness, competitiveness, and agility. These educational institutions are tailoring their administrative infrastructure systems to maximize their return on investment. Thus, SIS tools are most economical, less complex, and easily available.

Further, SIS solutions are already installed in academic software solutions and have been implemented across academic organizations. The benefits of SIS solutions are visible for those organizations having implemented multiple modules of these solutions for carrying out administrative processes, such as student billing and registration.

Market Restraints and Challenges

Many developing nations lacks in the infrastructure, which acts as a restraining factor to the growth of the education system. Educational institutions also still use legacy telecom infrastructure, which cannot deliver low latency and high-capacity connectivity. The lack of high-speed internet makes it difficult to implement web-based SIS solutions that need a stable internet connection. Furthermore, these countries have a limited budget for academic curricula. Thus, lack of appropriate infrastructure in developing economies is acting as a restraining factor for the market growth.

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Global Academic Software Market Segmentation

By Deployment Type

• Cloud-Based
• On-Premise

By Application

• Colleges and Universities
• Educational Services
• Others

Major Players in the Global Academic Software Market

The key players studied in the global academic software market are Alma (US), CAMPUS CAFÉ SOFTWARE (US), ConexED (US), Envisio Solutions Inc. (Canada), Full Fabric (UK), PowerVista Software, Inc. (US), Qualtrics (US), Tophatmonocle Corp. (Canada), TrueDialog (US), and WizeHive, Inc. (US).

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