Accreditation is an ongoing assessment process to ensure that companies or organizations are technically competent, have adequate resources, meet the required standards and are able to maintain the respective markets over a longer period of time. Environment, manufacturing, health and social affairs, trade and finance, agriculture and nutrition, education, aviation & defense and laboratories are prominent areas where accreditation management software is used. The accreditation management software also enables a fully customizable and comprehensive accreditation information management system to be easily integrated into the user’s existing system.
The accreditation management software market was valued at $ 98.79 million in 2019 and is projected to be 252 by 2027 Reaching $ 64 billion.
The scope of accreditation management software is expected to expand as the number of elementary and secondary schools, middle schools, vocational schools, business schools, technical and commercial schools, and educational support service institutions grows. The growth of the education sector contributes to the development of the economy and the development of a skilled workforce. Population growth requires an increase in the capacity of the education sector to meet the growing demand for educational services. Emerging economies like India are attracting investment in the education sector, which is accelerating the adoption of accreditation management software.
The COVID-19 outbreak, which began in Wuhan, China in December 2019, has spread at a rapid pace worldwide. The global factory closings, travel bans and border closings to combat and contain the outbreak have impacted all industries and economies worldwide. In order to control the global spread of the virus, the governments of different countries have taken several measures to promote social distancing. As part of these measures, bans have been imposed on schools, universities, colleges, businesses and factories. This move disrupted the education sector and various business activities. Of course, accreditation is of great importance in all areas. However, university closings would result in less use of accreditation management software, which is used to manage activities such as faculty administration and student administration Schools and universities. This factor is driving the growth of accreditation management software. As regulators encourage compulsory accreditation for all organizations and companies of all sizes, they are likely to drive demand for accreditation management software in the years to come. In addition, the use of cloud-based accreditation management software is expected to fuel market growth. In addition, the growing number of government-backed small businesses is driving the adoption of accreditation software as the Accreditation Associations are created to guide SMEs forward.
Country Scope – US, UK, Canada, Germany, France , Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
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