The Enterprise Resource Planning for Schools Market was valued at USD 8.05 billion in 2020 and is expected to reach USD 19.82 billion by 2026 and grow at a CAGR of 16.2% over the forecast period (2021-2026). Enterprise resource planning (ERP) for schools is the integrated management of core business processes, which are often in real-time and are mediated by software and technology. ERP is usually referred to as a category of business-management software, typically a suite of integrated applications that an organization can use to collect, store, manage, and interpret data from various business activities.
- Cloud computing in education has transformed the classroom experience. NetApp's Cloud Volumes ONTAP allows education institutions and solution providers to reap all the advantages of cloud computing in education, such as scalability and elasticity, while supporting complex infrastructures, containing storage costs, and protecting highly sensitive data from loss or corruption.
- Real-time data analytics is a key driver for the market. Data Analytics allows school management to measure, monitor, and respond in real-time to faculty, students, and parents. IMS Caliper Analytics is the world's first interoperability specification for educational clickstream analytics created by the education community where Learning Information Services (LIS) is used to populate other systems, such as Learning Management Systems, Library Management Systems, and Learning Object Repositories.
- Consistent data availability across the school business for faster decision making is driving the market. MyClassCampus is a Mobile App and web-based platform for schools, colleges, and educational organizations for quick, organized, and effective communication and resource sharing with all the stakeholders. It can be a one-click tool for institutes to manage all the student records and data in organized and easy to access form, which can help the school business run effectively.
- Schools are embracing new technologies, smart tools, and international pedagogies to facilitate better learning outcomes for children. Although technological development in academic institutions has progressed rapidly, the same is not reflected in the administrative domain in schools, and most of the work is still carried out manually. However, for a school to develop comprehensively, its administrative and academic wings should evolve at a similar pace.
- An increasing number of institutions are making the switch to a cloud-based ERP system, a trend that will continue over the next year. Cloud-based systems offer the benefits institutions are looking for, including enhanced security, better scalability, and increased support. Furthermore, the market is likely to grow due to schools' remote workings due to the outbreak of COVID-19. For instance, MasterSoft, an ERP provider in India, has helped over 100 institutions to go live on Microsoft Teams and manage online Admissions & Fee Collection effortlessly in India.
Key Market Trends
Education Software/ Application in Academics is Driving the Market Demand
- Nowadays, the education sector worldwide is developing and expanding quite rapidly, with Education software solutions streamlining and managing student information efficiently and automating processes for the stakeholders.
- A timetable management system enables the creation of both automatic and manual timetables. It guarantees timely updates on faculty substitution and assists in superior management of resources, rooms, and faculty.
- Grades and exam operation system provides the ability to conduct online examinations, consider the student performance, generate report cards, differentiate book management, hold mass competitive and entrance exams in schools, and provide the students with the results through the software system.
- Hostel management module software aids in reservation and arrangement of rooms for teacher accommodations and student hostels. It helps track visitor records and student outings, thus ensuring discipline. It also assists in controlling room facilities, room shifting and interchanging processes, and other important logistic support.
- MasterSoft provides comprehensive modules for school operation. For instance, LIB-Man is a cloud-based, fully integrated, user-friendly, multi-user package for computerization of all the Library's in-house operations. This Library Software is easy to use and powerful. Lib-Man is embedded with Multi-lingual Fonts, QR Code & Bar Code fonts with RFID integration for automation. It also supports smartphone app for book searches in school.
North America to Hold a Significant Share
- North America holds significant market share due to increased demand for managing various academic processes. The adoption of ERP solutions in educational institutions has enabled administrators to manage their business processes, such as student billing, registration, and enrolments, effectively in this region.
- For instance, Ellucian software unites the entire institution with a versatile higher education ERP, to make processes more effective and keep faculty, students, and staff informed in North America. Its unique integration model to bring the institution's data together provides answers to the complex questions and access curriculum data in real-time easily.
- BigSIS is a cloud-based student information system for private schools across North America. It offers integrated modules for managing admissions, enrollments, grade books, and more. It provides an integrated email system that helps teachers to communicate student progress to parents.
- Moreover, a built-in calendar feature helps both teachers and students keep track of their class schedules. The solution also offers modules for accepting donations, accepting online applications for school events, sharing volunteer opportunities with parents, etc.
The enterprise resource planning for schools market is fragmented as local and global players are competing by coming with innovations through the R & D process. Players adopt strategies like product innovation, expansions, and partnerships to stay ahead of the competition and expand their market reach. Some of the recent developments in the market are:
- May 2019 - SAP SE announced the launch of Project Embrace, a collaboration program with Microsoft Azure, Amazon Web Services (AWS), and Google Cloud. Embrace is designed to put the customer's move to SAP S/4HANA in the cloud in the language and context of their primary industry, by recommending the platform, software, services, and infrastructure from SAP as the preferred hyper-scaler and service partner.
- April 2019 - Oracle extended the artificial intelligence (AI) capabilities within Oracle Enterprise Resource Planning (ERP) Cloud and Oracle Enterprise Performance Management (EPM) Cloud. The latest machine learning-based innovations include an expense reporting assistant, project management digital assistant, and advanced financial controls, which will help in institutions for better control and management.
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