The forecast is done by summation of popular solutions such as financial management, transport management, Student Information System(SIS), Human Resource (HR)/ payroll, placement management, enrollment and admissions.
As we have already mentioned, the growth of Educational ERP is still in its infant stage. A lot of educational institutes lack the funds to implement the ERP solution. For example, it is in growth stage in the Middle East, Asia-Pacific, Latin America. The reason behind the slow adoption is that most of the K-12 schools really are not ready to change to technological growth.
So, why there is an overall growth of educational ERP? The answer lies in the benefits of installing the ERP solution. The returns are huge and no school wants to miss out the opportunity to take a big leap with the ERP.
Another reason why the ERP school adoption is slowing down is the availability of new administrative systems. Insufficient funds are also one reason why schools are not ready to adopt the ERPs. There is also a projection in the decline of the educational ERP in developed countries such as UK, Canada and US.
With so many negatives, the market will grow from USD 6.40 billion in 2015 to 14.22 billion by 2020. The numbers are presented by MarketsandMarkets. The CAGR during the forecast period is around 17.3%.
The forecast is done with various assumptions including the market size and the impact of exchange rates in a long run.
How does the report help new entrants/market?
There are many ways the reports can help you to see the future. New entrants can really make the most out of the reports. Let's discuss them below.
- The reports easily showcase where the Educational ERP market is moving towards. The report is ideal to know the challenges, restraints, key market drivers and opportunities for both new entrants and established ERP vendors.
- Getting to know the whole market with segmentation according to reports, applications can be done using the report. Revenue predictions are also helpful to understand how the subsegments add value to the whole market. Learning about the market from the perspective of users and regions is also a great idea.
- With the report, the current and new players can understand their position in the market much better. This can help them to execute the business process much better.