Accreditation Management Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Deployment Type (Cloud and On-Premises); Enterprise Size (SMEs and Large Enterprises)
In terms of revenue, the global accreditation management software market was valued at US$ 98.79 million in 2019 and is projected to reach US$ 252.64 million by 2027; it is expected to grow at a CAGR of 13.1% during 2020-2027. Accreditation management software help institutes, associations, universities, and government bodies in processes such as validation, assessment, feedback, outcome tracking, and international accreditation activities. Growing population and increasing number of schools and universities worldwide are boosting the education sector, thereby driving the growth of the accreditation management software market. Regulatory bodies are mandating accreditation for all organizations and enterprises of different sizes, which is stimulating the demand for accreditation management software. Moreover, the growing number of small businesses, backed by governments, is also contributing toward the use of accreditation software as accreditation associations are established to direct SMEs toward progress.
The accreditation management software markethas been segmented on the basis of deployment type, enterprise size, and geography. Based on deployment type,the market is segmented into cloud and on-premises. Based on enterprise size, the accreditation management software market is segmented into SMEs and large enterprises. In terms of geography, the global market is segmented into North America, Europe, AsiaPacific, the Middle East and Africa, and South America.
The well-established accreditation management software market players include Armature, Compwalk, Dossier Solutions, Liaison International, Liaison International, Qualtrax, Softtech Health, LLC, Spol, and Wizehive.
Impact of COVID-19 Pandemic on Accreditation Management Software Market
The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace around the globe. As of June 2020, the US, Italy, Spain, Germany, China, France, Iran, India, and the UK are among the worst-affected countries in terms of confirmed cases and reported deaths. Many countries have imposed lockdown, including schools, universities, colleges, companies, and factories in it. This step has disrupted the education and corporate sectors, and accreditation is highly important these sectors. Thus, the shutdown of several sectors has resulted in the reduced demand for accreditation management software.
The global accreditation management software marketsize has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the accreditation management software market with respects to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically participate in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the accreditation management software market.
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