Student Information System Market Growing at a CAGR 14.9% | Key Player Oracle, Workday, Ellucian, PowerSchool, Jenzabar

Oracle (US), Workday (US), Ellucian (US), PowerSchool (US), Jenzabar (US), Skyward (US), Tribal Group (UK), Illuminate Education (US), Arth Infosoft (India), and Focus School Software (US).
Student Information System Market by Component (Solutions (Enrollment, Academics, Financial Aid, and Billing) and Professional Services), End User (K-12 and Higher Education), Deployment Mode and Region – Global Forecast to 2027

The global student information system market size is estimated to be USD 10.2 billion in 2022 and is projected to reach USD 20.5 billion by 2027, at a CAGR of 14.9% during the forecast period. The need to streamline administration processes and rising adoption of cloud-based systems are the key factors driving market growth.

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By Component, Solutions segment to hold the larger market size during the forecast period

The solutions segment is estimated to account for a higher market share in the Student Information System market. SIS solutions are further divided into enrollment, academics, financial aid, and billing. These solutions deliver a better student experience, reorganizes internal business processes, and create learning communities that make a difference in the education industry. SIS solution is gaining traction due to the increasing demand from educational institutions to automate critical student information to better help manage, store, and track the information.

By Deployment Mode, Cloud segment to grow at the higher CAGR during the forecast period

The cloud segment is expected to have the higher CAGR growth during the forecast period. The cloud-based SIS solutions are a cost-effective and efficient way of managing big data issues across institutions. The need for enhanced security, easy deployment, ease of maintenance, scalability, enhanced collaboration, and cost-effectiveness is expected to boost the adoption of cloud-based SIS solutions and services.

The key market players that dominate the Student information system market include Oracle (US), Workday (US), Ellucian (US), PowerSchool (US), Jenzabar (US), Skyward (US), Tribal Group (UK), Illuminate Education (US), Arth Infosoft (India), and Focus School Software (US). These players have adopted various strategies such as new product launches and enhancements, partnerships, collaborations, and acquisitions to grow in the Student information system market.

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Oracle is one of the major providers of enterprise software, computer hardware products, and cloud services. In the student information system market, Oracle offers Oracle Student Cloud, which offers a comprehensive approach to managing the student lifecycle, communications, and relationships, from recruiting through alumni and donor management. In October 2019, Oracle collaborated with the Pennsylvania State University to support their β€œOne Penn State 2025” strategic vision. Oracle SFP Cloud would help to transform education delivery, focusing on student engagement and support, and reduce the cost of education.

Workday is a leading provider of enterprise cloud applications for finance, HR, and planning. In the student information system market, Workday offers Workday Student. Key benefits of Workday Student include engaging students throughout their journey and providing mobile experiences, enabling students to plan courses and understand academic eligibility and progress, and empowering students, faculty, and staff through self-service and a user-friendly interface. In May 2020, Workday partnered with Microsoft to enable its Workday Adaptive Planning application to run on the Microsoft Azure cloud.

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