The Educational ERP software market will be valued at approximately 15 billion US dollars globally by 2024 according to a research report from Global Market Insights Inc. It is estimated to grow at a Compound Annual Growth Rate (CAGR) of approximately 15% from 2016 to 2024.
An increasing trend of schools aspiring to be ‘tech aware’ and comfortable with technology in order to attract students further increases the client base in the United States as well as internationally- especially in Asia and the Middle East. As school enrollment continues to expand and acceptance of automated systems for administrative applications increases, the ERP market for schools is poised to benefit from a confluence of technological advancement and greater affordability.
The past few years have considerably lowered up-front costs and softened the curve in terms of ease of use of ERP systems. The ability to migrate hardware to the cloud means a significant number of schools can more easily afford deployments. This affordability combined with the security, simplification and centralization that an ERP system brings to administrative tasks are key drivers for the growth of educational ERP system deployments.
The major vendors benefiting from this trend are Oracle, Netsuite, Ellucian, Jenzabar, Unit4 as well as other vendors such as SAP, Infor, Microsoft and Blackbaud.