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School Management Software Market Report 2024 - School Management Software Market Trends And Share
School Management Software Market
According to The Business Research Company's, The school management software market size has grown rapidly in recent years. It will grow from $14.44 billion in 2023 to $17.09 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to digitization of administrative processes, increasing complexity of educational institutions, rising demand for data-driven decision making, competitive market dynamics, and demand for personalized learning.
The school management software market size is expected to see rapid growth in the next few years. It will grow to $33.92 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%. The growth in the forecast period can be attributed to shift towards personalized learning, rise of remote and blended learning, enhanced parent and community engagement, demand for cloud-based solutions, and focus on equity and inclusion. Major trends in the forecast period include cloud-based solutions, mobile accessibility, data analytics and AI, integration with learning management systems , cybersecurity measures, and blockchain technology.
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Market Drivers and Trends:
The rising popularity of online education is expected to propel the growth of the school management software market going forward. Online education refers to delivering educational content and instruction via the internet. The popularity of online education is rising due to its flexibility, accessibility, affordability, technological advancements, and ability to meet evolving learner and institutional needs. School management software streamlines administrative tasks, fosters communication, and provides tools for managing students, courses, and assessments in online education, enhancing effectiveness and efficiency. For instance, in January 2022, according to the World Economic Forum, a Switzerland-based non-governmental organization, the number of students enrolled in online education experienced a significant increase, jumping from 71 million in 2020 to 92 million in 2021. Therefore, the rising popularity of online education is driving the growth of the school management software market.
Major companies operating in the school management software market focus on developing innovative solutions, such as cloud-based school management software, to enhance accessibility and facilitate seamless communication among stakeholders. Cloud-based school management software solutions are designed to streamline administrative tasks, facilitate communication, and improve overall efficiency within educational institutions. For instance, in February 2023, Techdost, an India-based software development startup, launched Vedmarg, a cloud-based school management system to facilitate complex administrative operations in educational institutions. This software, integrated with numerous modules like fee management, attendance, online exams, quizzes, and more, is designed to enhance the workflow of schools and colleges. Vedmarg aims to improve productivity, reduce errors, save time and money, and provide a seamless educational experience for students, teachers, and parents.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Google LLC, Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Adobe Inc., Pearson PLC, Follett Corporation, Tyler Technologies Inc., McGraw-Hill Education Inc., Educomp Solutions Ltd., Ellucian Company L.P., Blackboard Inc., PowerSchool Group LLC, Instructure Inc., D2L Corporation, Canvas, Promethean World Ltd., Desire2Learn Incorporated, Jenzabar Inc., Moodle Pty Ltd., Schoology, ExamSoft Worldwide Inc., Knewton Inc.
School Management Software Market 2024 Key Insights:
• The school management software market size is expected to see rapid growth in the next few years. It will grow to $33.92 billion in 2028 at a compound annual growth rate (CAGR) of 18.7%.
• The Rise Of Online Education Fuels School Management Software Market Growth
• Innovative Cloud-Based School Management Software Solutions
• North America was the largest region in the school management software market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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