The global student information system market size to grow from USD 5.0 billion in 2018 to USD 9.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.4 % during the forecast period. The major growth drivers of the market include technological advancements in the education sector and government initiatives.

Lack of expertise and infrastructure among the end users in various regions could affect the growth of the student information system market.

Technological advancements in the education sector and government initiatives is driving the student information market towards growth. Institutions leverage student information system to improve the quality of education while keeping the expenses minimum.

The vendors can capitalize on providing the cloud based solution. The cloud-based solution reduces the overall costs while providing highly flexible and scalable access to solutions. Companies are deploying student information system on cloud to improve mobility and scalability. Security of the student information system is higher in on-premises deployment type; however, cloud-based student information system enables organizations to reduce the costs related to the solution, storage, and technical staff. Due to these advantages, many vendors are switching from on-premises deployment mode to the SaaS-based software.

North America is expected to hold the largest market size and dominate the student information system market from 2018 to 2023. North America has the highest rate of adoption of technologies, such as cloud, IoT, mobility, big data, analytics, and digital transformation. The presence of a large number of student information system solution vendors, continuous advancements in technology, and availability of proficient technical expertise are some of the factors contributing to the growth of the market in North America. APAC is expected to provide lucrative opportunities for the student information system vendors, as the education institutions in APAC have started implementating the digital solutions to improve the operational efficiency.

15 major vendors offer student information system solution and services across the globe, and they are SAP (Germany), Oracle (US), Ellucian (US), Workday (US), Jenzabar (US), Unit4 (Netherlands), Skyward (US), Arth Infosoft (India), Tribal Group (UK), Campus Management (US), PowerSchool (US), Foradian Technologies (India), Illuminate Education (US), ComSpec International (US), and Focus School Software (US).