The global K-12 Student Information Systems (SIS) market size was US$ 35,291.01 million in 2021. The global Student Information Systems (SIS) market is forecast to grow to US$ 9,21,19.1 million by 2030 by registering a compound annual growth rate (CAGR) of 21.5% during the forecast period from 2022 to 2030.
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By giving parents, teachers, students, and the authorities a platform for effective communication, SIS helps institutions raise the standard of education. The system keeps a record of the information about each student, their course subscriptions, and the results.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
The rapidly growing education sector will primarily drive the growth of the K-12 Student Information Systems (SIS) market during the study period.
Public and private entities are increasing their spending in the education sector, which is projected to accelerate the market growth during the study period.
The growing innovations in this sector will also contribute to market growth. For instance, Alma Technologies, one of the prominent industry players, announced that the firm added graduation tracking to its student information system platform in 2020. Thus, such advancements are expected to be beneficial for the K-12 Student Information Systems (SIS) market during the study period.
Growing government spending in the education sector is expected to contribute to the market growth during the study timeframe. On the flip side, low awareness among educational organizations about K-12 Student Information Systems (SIS) may limit the growth of the market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic severely declined the growth of the education sector as various schools were closed. The growth of the market is hampered by the strict lockdown that remained for longer than a year. However, the demand for Student Information Systems (SIS) increased as most people preferred online education as a beneficial platform to take knowledge without compromising safety. Schools also started adopting Student Information Systems (SIS) to cater to the demands of patients and students. Thus, the COVID-19 pandemic was beneficial for Student Information Systems (SIS) market.
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Regional Analysis
North America dominated the Student Information Systems (SIS) market and is forecast to hold dominance throughout the forecast period. It is attributed to the existence of a large number of SIS vendors and the growing rate of adoption of technologies. Moreover, rising investments in research and development activities are expected to be beneficial for the overall Student Information Systems (SIS) market. The market will experience a considerable increase as a result of the availability of technical know-how. Additionally, ongoing attempts by educational institutions to modernize the management system and provide effective services are also assisting in the market’s growth.
Competitors in the Market
? Illuminate Education, Inc.
? Alma
? Boardingware
? Campus Labs Platform
? Ellucian
? FACTS
? Gradelink
? NaviGate Prepared
? PowerSchool Group LLC
? Skyward
? Other Prominent Players
Market Segmentation
The global K-12 Student Information Systems (SIS) market segmentation focuses on Type, Technology, and Region.
By Type
? Cloud-Based
? On-Premise
By Technology
? K-12
? Pre-K
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By Regional Outlook
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
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