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Transforming Learning: The Future of Education ERP Systems
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According to The Business Research Company's, The education erp market size has grown rapidly in recent years. It will grow from $15.66 billion in 2023 to $17.97 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to increased data vulnerabilities, student information system (sis) security, financial data protection, user authentication challenges, rise in cybersecurity threats.
The education erp market size is expected to see rapid growth in the next few years. It will grow to $31 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to enhanced communication and collaboration tools, focus on user education and awareness, personalized learning paths, incident response planning, globalization of cybersecurity threats, zero trust security framework. Major trends in the forecast period include digital transformation in education, cloud-based education erp solutions, integrated learning management systems (lms), data analytics for informed decision-making, adoption of ai and chatbots, e-learning content management.
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Market Drivers and Trends:
The adoption of cloud-based solutions is expected to propel the growth of the education ERP market going forward. A cloud-based solution is a form of software that is hosted on a remote server and is accessible via the internet. Cloud-based ERP systems are software solutions developed for centralized control of all administrative tasks, which is especially advantageous for educational institutions that must manage a big volume of data across multiple departments. For instance, in July 2022, according to a survey report by Capgemini Research Institute, a think tank of Capgemini, a France-based information technology services and consulting company, over the next 1-3 years, more over one-third (38%) of firms plan to use a public or hybrid cloud environment with nearby data centers. 30% expect to use a detached version of a hyperscaler's local legal organization, while 11% intend to only engage with cloud providers located in the same legal jurisdiction. Therefore, the adoption of cloud-based solutions is driving the growth of the education ERP market.
Product innovation is a key trend in the education ERP market. Major players operating in the market are introducing innovative products to automate the entire workflow. For instance, in Frbruary 2023, Techdost Services Pvt Ltd, a India-based software development company, launched Vedmarg, the cloud-based school management system. This Vedmarg software unique features includes 80+ modules such as admission registration, fee management with transportation, attendance, reports, mark sheets, exam timetables and admit cards, ID cards, online exams, quizzes, and transfer certificates, among others, to improve the activity workflow of schools and colleges. Vedmarg is a cloud-based school management system or software designed to make complex administrative activities in educational institutions easier. i
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Major Key Players of the Market:
SAP SE, Oracle Corporation, Ellucian Company L.P., Blackbaud Inc., Unit4 N.V., ERPNext, Focus Softnet Pvt. Ltd., Microsoft Corporation, Lighthouse Info Systems, Brainvire, Infor, Foradian Technologies, Jenzabar Inc., NetSuite Inc., OpenEduCat Inc., Workday Inc., Epicor Software Corporation, The Sage Group plc, Acumatica, Deltek Inc., Plex Systems, IQMS, Rootstock Software Inc., SYSPRO Technologies, QAD Inc., IFS AB, Ramco Systems Ltd., Aptean, PowerSchool Holdings
Education ERP Market 2024 Key Insights:
• The education erp market size is expected to see rapid growth in the next few years. It will grow to $31 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%.
• The Impact Of Digital Technologies On The Education Erp Market
• Innovative Product Launch In Education Erp Market
• North America was the largest region in the education ERP market in 2023
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