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Global K-12 Student Information Systems (SIS) Market Will Reach USD 78,198.13 million by 2024, at 17.25%: Fatpos Global


iCrowdNewswire   Jan 9, 2021  8:00 PM ET

Product Overview

Student Information System (SIS) is a computer system that handles a variety of information about students. Registered staff members may use SIS to access, update, and report on student records. The system also provides the requisite information to a variety of other computer systems. Information such as grades and attendance records are monitored via these platforms. Parents often usually have access to the K-12 SIS, which is a component that separates these resources from higher education SIS. Many K-12 student information systems provide an SMS feature that enables teachers and parents to connect directly. This helps the teacher to keep the parent up-to-date with their child’s social and academic success in the classroom.

Market Highlights

Global K-12 Student Information Systems (SIS)market to surpass USD 78,198.13 million by 2024 from USD 35,291.01 million in 2019 at a CAGR of 17.25% in the coming years, i.e., 2020-24.

The student information market is growing due to the accelerating demand for a robust solution to manage the day-to-day processes of educational institutions. The market is anticipated to grow due to the adoption of digital technologies such as cloud, IoT, analytics, big data which are used to manage various activities of educational institutions.

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Global K-12 Student Information Systems (SIS) Market: Segments

Cloud-Based segment to grow with the highest CAGR during 2020-24

Global K-12 Student Information Systems (SIS)market is segmented by type into Cloud-Based and On-Premise. The cloud-based segment held the largest market share of XX.X% in the year 2019 as it removes difficulties in maintaining data and updating systems by enabling the customers to focus on other important functions due to its reliability, flexibility, and security. Cloud-based SIS offers integrated web report cards and mobile-ready parent and students’ portals. Cloud-based server hosts institutions’ applications are offsite with the help of virtual technology. Owing to all these reasons, the cloud-based segment is anticipated to drive the growth of the market in the coming years.

K-12 Segment to grow with the highest CAGR of XX.X% during 2020-24

Global K-12 Student Information Systems (SIS) market is distributed by application into K-12 and Pre-K. K-12 segment held the largest market share of XX.X% in the year 2019.K-12 is used to refer from kindergarten to 12th grade that indicates the range of years of supported primary and secondary education.

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Market Dynamics

Drivers

Enhanced education quality and customer experience

SIS provides a platform that develops efficient communication among parents, faculties, students, and the authorities that enables the institutions to improve the quality of education. The system maintains a record of students’ details, course subscriptions, and the final results.

Investments in the education sector

Rising investments in the education sector by both private and public organizations are proliferating the growth of the respective market. Besides, extensive research and development activities are also driving the growth of the market.

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Restraint

Low awareness among educational organizations

Dearth of expertise to operate the SIS and lack of proper infrastructure to support the system among end-users is expected to hamper the growth of the global market. Besides, low awareness among educational organizations regarding the student information system is also impacting the global market.

Global K-12 Student Information Systems (SIS)Market: Regions

Global K-12 Student Information Systems (SIS) market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, And Middle East Africa. Global K-12 Student Information Systems Market in North America held the largest market share of XX.X% in the year 2019. North America will continue to dominate the global K-12 Student Information Systems (SIS) market due to the presence of a large number of SIS vendors, the highest rate of adoption of technologies, investments in research and development activities, and availability of technical expertise are contributing to the growth of the market in North America. Additionally, constant efforts by the educational institutions for transforming the management system to offer efficient services are also contributing towards the expansion of the market.

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Top Market Players:

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