Dublin, April 19, 2019 (GLOBE NEWSWIRE) -- The "Student Information System Market by Component (Solution and Services (Professional Services and Managed Services)), User Type (K-12 and Higher Education), Deployment Type (Cloud and On-Premises), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global student information system market is expected to grow from USD 5.0 billion in 2018 to USD 9.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period.
Over the past decade, there have been significant changes in the higher education industry. With a lot of funding pressures and increased focus on student success and completion, IT plays a crucial role in delivering key services, enabling digital transformation and providing competitive institutional differentiation. The ability to achieve this is dependent on IT partnering with institutional leadership at a strategic level to meet institutional goals.
SIS provides integrated admissions, enrollment, registration, financial aid, student accounts, and advising information. Given the level of disruption that the higher education industry is currently facing and the rapid shift of preferences of students, institutions have assumed that the requirement for their SIS solution would change profoundly over the next decade. IT departments will have a significant opportunity to lay the groundwork for using technology to deliver innovation, flexibility, and agility, as well as, long-term value to institutions.
In the next few years, an increasing number of institutions will consider the cost of maintaining legacy systems and either upgrade to the next version of existing vendor solutions or replace legacy systems entirely with new vendor offerings. With the continued pressure of tight budgets and the need for differentiation in a competitive market, there is a growing appetite among institutions for upgrading or replacing legacy SIS solutions with modern technology.
With SIS, too much of paperwork could be avoided. Mishandling of data is the biggest concern for many educational institutions; hence, to avoid such misuse, SIS solutions and services are designed according to the regulated guidelines and directives of educational institutions.
The research report also studies the strategic alliances and acquisitions by global and local players in the SIS market. These players have majorly adopted the growth strategies, such as new product launches and product enhancements, to enhance their businesses in the SIS market and cater to the needs of diverse end users across regions.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the Student Information System Market
4.2 Market By Service, 2018
4.3 Market By Type, 2018
4.4 Market By Deployment Type, 2018
5 Market Dynamics
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Focus of Educational Institutions to Improve Education Quality and Customer Satisfaction
5.2.1.2 Widespread Government Initiatives and Technological Advancements in Educational Sector
5.2.1.3 Increasing Awareness Among the Educational Institutions to Improve the Administrative Process
5.2.2 Restraints
5.2.2.1 Lack of Awareness Among Educational Organizations About the Student Information System
5.2.3 Opportunities
5.2.3.1 Increasing Demand Among the Educational Institutions for Improved Connectivity Among Various Stakeholders
5.2.3.2 Advent of IoT and Smart Education
5.2.4 Challenges
5.2.4.1 Integration Issues With Organizations' Internal Processes
5.2.4.2 Lack of Expertise and Infrastructure Among End Users
6 Student Information System Market, By Component
6.1 Introduction
6.2 Solution
6.2.1 Enrollment
6.2.2 Academics
6.2.3 Financial Aid
6.2.3.1 SIS Helps Manage Financial Aid, Scholarships, and Grants Quickly and Efficiently
6.2.4 Billing
6.3 Services
7 Student Information System Market, By Service
7.1 Introduction
7.2 Professional Services
7.2.1 Integration and Implementation Services
7.2.2 Consulting Services
7.2.3 Training, Support, and Maintenance Services
7.3 Managed Services
7.3.1 Managed Services Offering Round-The-Clock Visibility to IT Infrastructure and Providing Security Assessment and Monitoring of Applications, Systems, and Devices
8 Student Information System Market, By Deployment Type
8.1 Introduction
8.2 0n-Premises
8.2.1 On-Premises Deployment Making the Existing Infrastructure Viable, Thereby Eliminating the Costs of Infrastructural Changes
8.3 Cloud
8.3.1 Advantages of Easy Deployment, Hassle-Free Integration, Minimum Cost, and No Requirement for Preliminary Capital for Purchasing the Software Driving the Demand of Cloud Deployment Mode
9 Student Information System Market, By User Type
9.1 Introduction
9.2 K-12
9.2.1 Growing Use of K-12 Student Information System By Teachers, Students, and Parents to Access All Relevant Information Pertaining to A Student's Schooling
9.3 Higher Education
9.3.1 Growing Need to Track Information Such as Grades, Attendance Records, Admissions Information, and Financial Aid to Drive the Demand for SIS in Higher Education Institutes
10 Student Information System Market, By Region
11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.2 Competitive Scenario
12 Company Profiles
- Arth Infosoft
- Campus Management
- ComSpec International
- Ellucian
- Focus School Software
- Foradian Technologies
- Illuminate Education
- Jenzabar
- Oracle
- PowerSchool
- SAP
- Skyward
- Tribal Group
- Unit4
- Workday
For more information about this report visit https://www.researchandmarkets.com/r/c6dl9r
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.