Admission Management Software Market Number Of National Public And Private Upper Secondary Schools In Japan 2018 To
Admission Management Software Market Global Admission Software Management Market Growth Rate By Region 2023 2028
Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Admission Management Software Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The global Admission Management Software Market is witnessing significant growth, with projections indicating an increase from USD 1.23 billion in 2023 to USD 1.89 billion by 2028, following a compound annual growth rate (CAGR) of 9.05% during the forecast period. The growth is primarily fueled by the escalating complexities of the admissions administration process in the wake of rising student applications across education sectors, including schools, colleges, and universities, and the need for streamlined operations.
This surge in demand is largely due to the challenges faced by academic institutions in manually handling the admissions processes within tight timelines, which has become increasingly arduous due to the voluminous data management involved. The admission management software market is responding with innovations and technological advancements to meet these needs effectively.
Key Market Developments and Trends:
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With record-breaking numbers of applications submitted to universities such as Cornell, educational institutions are seeking sophisticated admission management tools to handle the increasing demand efficiently.
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Schools are leveraging platforms like SchoolAdmin to integrate billing, registration, and admissions into one seamless system, reducing the complexity and enhancing the efficiency of the admissions process.
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Admission management software is becoming significantly integrated with student management systems, ERP systems, and school accounting modules, bolstering market growth through enhanced operational efficiencies.
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However, the market faces potential challenges such as the implications of rising inflation rates and global conflicts, which could negatively impact education budgets and student enrolment.
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The COVID-19 pandemic has emphasized the importance of digitization in the education sector, subsequently boosting the adoption of online admission management systems.
Opportunities within the School Segment:
The school segment shows promise with extensive opportunities anticipated due to a steady increase in school applications. Real-time assessment of applicants' potential is becoming a crucial factor for primary and secondary schools, which admission management software can facilitate. National and international projections of student enrollment growth, such as the expected 1.6 percent increase in US enrolments between 2016 and 2028, further underscore the expanding market potential.