Alumni Management Software Market: Trends, Size, Share and Growth
A strong alumni network is the source of recognition and pride for educational institutes. The alumni network is an important factor considered by students while selecting universities, colleges, and schools. Alumni management software solutions help educational institutes manage the large database of students, contact information, their e-mail addresses, and other details. Graduating from an educational institute with a strong alumni base provides students an already built network of professionals. Every year, thousands of students graduate from schools, colleges, universities, and postgraduate research and professional programs. This makes networking with an alumni in a traditional manner time consuming and difficult. The alumni management software allows an institute to manage its entire Alma base on a single platform. The solution provides a platform for alumni to find, connect, and network with each other for social and professional reasons.
The alumni management software can also be synced with social networking sites such as LinkedIn and Facebook. This helps institutes to keep track of job or location changes of their alumni. Various events, such as chapter meets, homecomings, and reunions, can be created and managed on the platform. Targeted communication over e-mail or phone can also be conducted with the help of alumni management software for a specific batch or course. Analysis tools of the software provide insights pertaining to who opened the link in the mail communicated or what part of the link the alumni are most interested in. The software also enables institutions to raise funds for scholarships and other educational campaigns. Moreover, it improves campaign performance through efficient constituent engagement and workflow management.
Rise in the number of alumni associations and increase in demand for an efficient alumni network program are anticipated to drive the alumni management software market during the forecast period. Availability of solutions at affordable prices from market players is likely to further fuel the market in the coming years. Colleges and institutions are focusing on building an efficient alumni network program to attract better future candidates.
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Some of the major college alumni associations are Columbia University, Boston University Alumni Council, Harvard University, Dartmouth University, and Stanford University. However, the availability of open source alumni management software is expected to hinder the market during the forecast period. A major trend observed in the market is the integration of alumni management software with CRM solutions. This integration helps an institute to get a 360 degree view of student interactions, from alumni relations to recruitment. Alumni can also be reached through preferred communication channels such as SMS text, e-mail, web portals, phone, or print.
The global alumni management software market can be segmented based on deployment, end-use, institute size, and geography. In terms of deployment, the alumni management software market can be bifurcated into on-premise and cloud-based. The cloud-based segment is projected to be propelled by advantages of cloud-based software and significant adoption of cloud computing technologies by various end-users, including educational institutions. Based on end-use, the alumni management solution market can be categorized into schools and colleges, universities, and educational foundations. In terms of institute size, the alumni management software market can be classified into small- and medium- sized institutes and large institutes.
Based on geography, the global alumni management software market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe are expected to constitute a significant share of the alumni management software market from 2018 to 2026. Strong awareness about the solutions and presence of a number of strong Alma associations in the region are likely to fuel the market in the coming years.
Prominent players operating in the global alumni management software market include Almabase, Inc., Alumnee, Creatrix Campus, Campus Management Corp, Ellucian Company L.P., EverTrue, Inc., Fonteva, Inc., Hivebrite, IntraWorlds GmbH, and MemberPlanet, LLC