Education Enterprise Resource Planning (ERP) Market Explores New Growth Opportunities from 2018 to 2024
Date: 2018-10-01   Author: Ronak Bora  Category: #technology

Education Enterprise Resource Planning (ERP) Market Explores New Growth Opportunities from 2018 to 2024

Based on the user type, The Global Education Enterprise Resource Planning (ERP) market can be categorized into kindergarten, k-12, and higher education. The higher education segment could account for the key industry share. The consistent growth in primary education and rising adoption of e-learning approaches in primary classrooms is likely to catalyze education ERP market demand.

Education Enterprise Resource Planning Market size is estimated to be valued around USD 15 billion by 2024, growing at a CAGR of around 15% from 2016 to 2024.

The education industry is predicted to outsource the complex management process to third party vendors owing to the rising focus on their core competencies by offering high-quality education; this is likely to offer potential growth avenues over the next eight years. Furthermore, these systems are user-friendly and effectively manages the student information system, admission & enrollment system, payroll, placement management, accounting, transport management, etc. Moreover, the need for critical data security among institutions will further contribute towards the education ERP management market growth from 2016 to 2024.

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The U.S. education ERP market is anticipated to witness a considerable growth due to the high prevalence of unconventional infrastructure and universities across the region.

 The Asia Pacific education ERP market size is anticipated to experience a substantial growth from 2016 to 2024. The growth can be attributed to the rising significance of video-based learning in various economies such as India, China, and Japan. In addition, the escalating prominence of sophisticated systems may catapult the regional growth over the forecast timeline

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The ERP system helps in monitoring business resources, such as cash, raw materials, manufacturing capacity, and track position of purchase demands and payroll. The rising demand for administrative applications accompanied by the increasing acceptance of automated system has made the transmission of information exceptionally flexible and sophisticated for end users. These systems enable the integration of numerous functions of an organization in real time to sustain and manage databases efficiently. In educational institutions, these systems are used to govern the admission status & manage the employee payroll. Furthermore, the need to secure organizations’ vital data may fuel the education ERP market growth from 2016 to 2024.

 Factors, such as increased availability of administrative systems and negligible customization feasibility, may hamper the education ERP market share. The high cost of implementation accompanied by difficulty in integration with existing internal systems may negatively impact the industry growth from 2016 to 2024.

 Key players operating in the education ERP market share include Netsuite, Ellucian, Jenzabar, Unit4, Oracle Corporation, and Epicor Software. Other companies include blackbaud, SAP, Infor, advanced business solutions, and Microsoft. In April 2016, Ellucian launched Banner Finance 9.0, a higher education financial management system. This software is likely to assist colleges and universities in managing financial transactions effectively.

 



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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