The accreditation management software market in North America is expected to grow from US$ 33.9 million in 2019 to US$ 79.1 million by 2027; it is expected to grow at a CAGR of 11.8% from 2020 to 2027.
The software helps institutes, associations, universities, and government bodies in processes such as validation, assessment, feedback, outcome tracking, and international accreditation activities. The growing education sector is supporting the growth of the accreditation management software market in North America. However, the increasing number of cyberattacks limits the market growth in this region. The growing popularity of cloud-based solutions serves as a key opportunity for the companies to secure a strong position in the market. The US held a large share of the accreditation management software market in North America, followed by Canada and Mexico. However, the market in Canada is expected to grow at the highest CAGR during 2020–2027. In terms of enterprise size, the large enterprises segment held a greater share of the market in 2019.
Due to the rapidly rising number of COVID-19 cases across North America, especially in the US—schools, universities, academic institutions, private and public companies, and so on, have been shut down to contain the infection. This is would continue to slow down the growth of the accreditation management software market in this region, in the short term.
Based on the deployment type, the accreditation management software market is segmented into on-premises and cloud. The cloud segment dominated the North America accreditation management software market based on deployment type in 2019. The technology sector has been increasingly witnessing a rise in the cloud-based deployment of the software since the recent times. This is mainly attributed to the fact that the cloud-based deployment requires less time and with reduced cost of deployment.
The overall North America accreditation management software market size 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 accreditation management software market. The process also serves the purpose of obtaining an overview and forecast for the North America accreditation management software market with respect to all the segments pertaining to the region. 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 involved in this process include industry expert such as VPs, business development managers, accreditation management software market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America accreditation management software market. Armature Solutions Corporation; NextLOGiK; Creatrix Campus; Dossier Solutions; Liaison International; Openwater; Qualtrax, Inc.; SoftTech Health, LLC; WizeHive, Inc.; and SPOL are among the players operating in the market in North America.