Higher Education CRM Software Market Size, Share, Growth, and Industry Analysis, By Type (Cloud-based and On-premises), By Application (Universities, Training Organizations and Others), Regional Insights, and Forecast To 2031

Updated On: 20 November 2023

HIGHER EDUCATION CRM SOFTWARE MARKET REPORT OVERVIEW

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global higher education CRM software market size was USD 2110.34 million in 2022 and market is projected to touch USD 7755.42 million by 2031 at CAGR 15.56%.

CRM software for higher education helps schools and universities manage their interactions with present and potential students. It may keep track of information about pupils, including their contact details, academic background, and interests. This data can be used to better target marketing campaigns or to make tailored suggestions for each student. CRM software for higher education may also have tools for handling financial aid applications, monitoring scholarships, and keeping track of enrollment status.

The rising demand for customer relationship management (CRM) software among colleges and training organizations is responsible for the market's expansion. During the forecast period, North America is anticipated to command the worldwide higher education CRM software market in terms of revenue, followed by Europe and Asia Pacific.

COVID-19 Impact: Disruption of Supply Chain to Hinder Market Growth

The COVID-19 crisis has altered business practises across all industries and geographies for years in just a few short months. A recent McKinsey Global Survey of executives revealed that their organisations had sped up the digitalization of their internal processes and supply-chain interactions by three to four years. Additionally, their portfolios' proportion of digital or digitally enabled products has increased startlingly by seven years. The majority of respondents claim that their organisations have put in place, if not permanent solutions, then far quicker than they had anticipated before the crisis in order to satisfy many of the additional demands placed upon them.

LATEST TRENDS

"Rise In Universities to Provide Impetus to the Market"

Government entities, non-profits, and research organisations are included in the other sector. With a revenue share of more than 60%, the category representing higher education institutions led the global market. This is caused by the rise in universities around the world. Higher Education CRM Software market expansion is anticipated to be fuelled by an increase in the need for trained workers on the international market. In the near future, this market is expected to increase due to the rising acceptance of cloud-based Higher Education CRM Software among educational institutions.

HIGHER EDUCATION CRM SOFTWARE MARKET SEGMENTATION

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• By Type

Based on type market is classified as cloud-based and on-premises.

• By Application

Based on application market is classified as universities, training organizations and others.

DRIVING FACTORS

"Cloud-Based CRM Software to Augment Market Growth"

Higher education institutions no longer need to install and maintain complex software on their own servers in order to access and manage their data remotely thanks to cloud-based CRM software. With the use of this kind of software, student and alumni data can be managed centrally, interactions with outside contacts can be tracked, and communications with past, present, and future students can be managed. Additionally, it has the ability to interact with other business systems, learning management systems, and student information systems. Higher education institutions' own servers and hardware are used to administer and deploy on-premises CRM software. Institutions may have more control and flexibility over their data and processes if they choose CRM software that enables them to store and manage data on their own systems.

"Increase Demand for Higher Education CRM Software to Propel Market Growth"

Over the next few years, it is anticipated that the popularity of BYOD (Bring Your Own Device) and CYOP (Choose Your Own Platform) rules among colleges and universities would increase demand for Higher Education CRM Software solutions. During the projected period, participants in this market should benefit financially from the increased demand for student retention and engagement solutions. Universities are among the biggest spenders on student services like admissions counselling, financial aid services, managing student employment and volunteerism, and academic support services, among other things that improve students' experiences at a university level.

RESTRAINING FACTORS

"Increased Tuition Costs to Impede Market Growth"

One of the main issues impeding the expansion of the higher education market is the increase in tuition costs. Potential clients, like students, are starting to become disinterested due to the increase in the expense of higher education. Compared to public universities, private institutions have significantly expensive tuition fees. The value and advantages of a college degree are not sufficiently weighed against the cost increase. For instance, during the past few years, private, non-profit, four-year institutions' average tuition has climbed dramatically. The overall number of students enrolling in colleges has decreased as a result of this.

HIGHER EDUCATION CRM SOFTWARE MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market Due to Cutting-Edge Technologies"

With a revenue, North America dominated the global higher education CRM software market. Regional expansion is anticipated to be fuelled by the abundance of colleges and training facilities as well as the high rate of adoption of cutting-edge technologies. Additionally, rising public and private player investments are predicted to fuel market expansion. As a result of growing government measures to increase access and quality in institutions providing higher education, North America is anticipated to have significant growth throughout the forecast period. The demand for learning management systems in this area will also be boosted by rising student emphasis on employability skills, increased awareness of employment options after graduation, and other factors.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• amoCRM (U.S.)
• HubSpot (U.S.)
• FreeAgent CRM (U.K.)
• Zoho (India)
• Jenzabar (U.S.)
• Campus Management (U.S.)
• Blackbaud (U.S.)
• Thryv (U.S.)
• Salesforce (U.S.)
• Oracle (U.S.)
• Ellucian (U.S.)

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.