NEW YORK, March 08, 2018 (GLOBE NEWSWIRE) -- Global Education Enterprise Resource Planning (ERP) Software Market is expected to grow progressively from USD 5,752.3 Million in 2017 to USD 7,518.9 Million in 2024, at a CAGR of 4.0 % from 2018 to 2024. The factors driving the growth of the education ERP software market are need for operational efficiency and transparency in education sector and adoption of cloud and mobile applications. Huge growth potential in developing economies due to rapid change in the education and business models is also impelling the growth of education ERP software market. Expansion of customer base for education ERP software further fuels the demand of education ERP software market across the globe during the forecast period. Moreover, emerging trend of education ERP hybrid development gives the market a shift towards adoption of education ERP software. The factors that may hinder the growth of the global education ERP software market are a higher cost of education ERP software, and availability of open source application.
The global Education ERP market is a software package solution used for managing and maintaining all the resources for smooth functioning in the education sector. Education ERP is used to maintain students & employees records to manage inventory, library, examination, admissions & placements.
The global education ERP software market is segmented by deployment (on-premises deployment and cloud deployment), by function (admin, human resource (HR), finance, admission status management, inventory management, reception dashboard, student healthcare management, library management, hostel and transportation, placement cell, teacher dashboard, and others), by end-user (kindergarten, K-12, and higher education), by component type (solution and service).
Key players profiled in the global education ERP software market are Microsoft Corporation, SAP, Oracle, International Business Machine (IBM), FIS Global, Syspro, Sage Group PLC, NetSuite Inc., U-blox, Blackbaud, Inc., Dell Inc., Epicor Software Corporation, Jenzabar, Inc., Ellucian, Inc., Unit4 N.V, Foradian Technologies Pvt Ltd, and Infor, Inc.
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Key Findings of the Global Education Enterprise Resource Planning (ERP) Software Market Report:
- The education ERP software Market is expected to reach USD 7,518.9 Million by 2024 at CAGR of 4.0%
- On the basis of deployment:
- On-premises is the leading segment in 2017, and cloud deployment segment is expected to be the fastest growing market during the forecast period
- On the basis of function:
- Admin segment is the leading segment in 2017, and finance segment is expected to be the fastest growing market during the forecast period
- On the basis of component type:
- Solution segment is the leading segment in 2017, and service segment is expected to be the fastest growing market segment during the forecast period
- Among the various end-user segments, the higher education segment is expected to register highest growth rate during the forecast period
- Asia-Pacific region is expected to be the fastest growing market in the global education ERP software market owing to the expansion of customer base for education ERP software users and emerging trend of education ERP hybrid development
- North America is accounted to hold the major share of the global education ERP software market, owing to increasing need for quality education, and need for operational efficiency & transparency in the education sector
Global Education Enterprise Resource Planning (ERP) Software Market– A complete Package Solution for Managing & Maintaining Educational Institution’s Resources
The education ERP software solution finds its application in maintaining students & employees records to manage inventory, library, examination, admissions & placements. Education ERP is a subset of ERP solutions available in the market. The ERP market plays a key role not only in corporate decision-making processes but in global transactions too. Large organizations typically purchase ERP software with broad applicability, including corporate fields such as accounting, finance, and human resources (HR) management, and sales and purchasing management. Smaller clients, however, buy limited-scope resource planning software for operating needs.
Global Education Enterprise Resource Planning (ERP) Software Market - Regional Insight
Geographically, the global ERP software market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to hold the major share in the global education ERP software market during the forecast period. The major factor driving the growth of the North American education ERP software market is increasing need for quality education and need for operational efficiency & transparency in the education sector. However, Asia-Pacific region is expected to be the fastest growing market of the global education ERP software market during the forecast period. The factors propelling the growth of the education ERP software market in the Asia-Pacific region are expanding customer base for education ERP software users and emerging trend of education ERP hybrid development. Furthermore, the rapid change in educational & business models also fuels the Asia-Pacific education ERP software market.
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