The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Online School Management Software Market. The growth sectors of the Online School Management Software Market are identified with precision for a better growth perspective.
The school management system market 2020 is observing solid growth across the globe and can achieve a valuation of USD 25.7 Billion by 2025, projects Market Research Future (MRFR). The market size is also touted to expand at a rate of 17.7% between 2019 and 2025 (evaluation period). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been studied in the report, which offers an in-depth analysis post the coronavirus disease outbreak.
Lockdowns have been imposed all over the world to curb the spread of the COVID-19 outbreak, with the pandemic negatively impacting the worldwide school education. SARS-CoV-2, given its unprecedented spread across countries has deeply influenced the education sector. However, the hardest hit has been the countries with high drop-out rates, low resilience to unexpected events and lower learning outcomes. With this, the need for academic management system, financial management and administration management system across schools has risen considerably to manage all the information.
On the bright side, post the onset of the novel coronavirus, governments have come up with online and digital education modes and have also given subsidy to private schools, and more. A number of schools are making extensive use of tools such as Microsoft Teams to conduct online classes. In the given scenario, the deployment of school management systems has increased, as they help make the communication between parents and teachers easier and smoother. With these systems, teachers are able to keep the parents updated regarding the content being covered in online lectures. Educators are able to their provide access to e-notes, quizzes, games, video-based micro-courses and e-books. With the increasing prevalence of online education, it is anticipated that the school management system market can note continuous growth even when the pandemic crisis gets over.
Key Drivers and Main Restraints
With technology-based developments, educational institutions are increasingly using cloud-based services and software that provide advanced accessibility features. Notably, the majority of the mentioned developments have occurred in developed countries like Canada, the US, along with the Central and Western European economies. Therefore, the increasing consumption cloud services can be a significant trend that could enhance the growth of the school management system market in the years to come.
Furthermore, the online school management software market is gaining high prominence, given the shift from traditional ways of teaching to the digital aspects of smart class rooms. The online mode of school management is transforming the education sector, with the surge in the deployment of services and solutions that help manage the workflow and databases.
In June 2020, Rediker Software launched its latest online admissions and enrollment management system called AdmissionsPlus. This system helps streamline all the centralized enrollment requirements, offers a web-based application along with a simplified admissions process for private, independent charter and public schools. The increasing popularity of online portals and cloud-based services has been leveraged by the leading market players who are increasingly launching advanced software and services to cater to the evolving customer needs and demands. These types of product innovations and launches not only boost the company’s profits but also benefit the school management system market to a large extent.
MRFR has listed the leading vendors in the school management system industry, namely Foradian Technologies (India), Oracle Corporation (US), PowerSchool (US), Hobsons (US), Blackboard, Inc (US), Skolaro (India), Capita SIMS (UK), Schoology (US), Jenzabar, Inc (US), Cornerstone (US), Ellucian Company L.P (US), Instructure, Inc (US), Classter (Greece), Knewton, Inc. (US), McGraw-Hill Education (US), and more.
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