Global Education ERP Market
The Education ERP Market is anticipated to exhibit a compound annual growth rate of 14.2% over the forecast period. Education ERP helps control all aspects of student management, such as tracing students' progress, which is a driving force responsible for the market growth.
Education ERP Market Dynamics
The increasing adoption of ERP systems by several educational institutions has enhanced their functional effectiveness, thus proffering a competitive advantage to enterprises. Cloud-based ERP systems have substituted traditional methods of data management. The ERP systems proffer better data storage, safety, and control. Also, it provides access to administrators to help them in faster and knowledgeable decisions. ERP solutions are increasingly used across several educational institutions leading to a reduced volume of work on administrators as these solutions help control and synchronize several business procedures efficiently. Thus, the increasing elasticity and feasibility for end-users are proffered by the adoption of cloud-based ERP solutions. This is anticipated to elevate the growth of the global education ERP market. Besides this, the accessibility of cloud-based ERP systems and the rising registrations in the higher education industry have proven to be the driving force complementing the market growth.
The evolving demand for mechanized directorates to operate business procedures in academic institutions and the better performance of administrative curriculum has strengthened the market size. However, the evolution of the coronavirus has significantly propelled the market growth because of the lockdown enforced across nations. Thus, the rigorous lockdown norms have persuaded organizations to adopt online learning platforms. For example, BYJU'S, the Indian educational technology company, in 2020, experienced a surge of 150% in the number of new students after announcing free access to its learning app. Moreover, Educational organizations have adopted digital platforms as ERPs, which help manage web portals, fees accounts, staff, and library books.
On the other hand, the increasing accessibility of administrative systems and minimum personalization feasibility are anticipated to restrain the market growth..
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