The Insight PartnersAccording to our latest market study on "Funeral Home Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Deployment Type (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), and Geography" the market was valued US$ 277.91 million in 2019 and is expected to reach US$ 818.55 million by 2027; it is estimated to grow at a CAGR of 14.6% during 2020–2027.
Funeral home software enables scheduling of funeral sessions and communication with clients. The customers are offered a portal through which they can request services and give details about the deceased. The customer can be an individual who knows of his/her sudden demise in the near future or any of the family members. Increase in funeral home software usage in cemeteries, crematories, mortuaries, and funeral homes is one of the major factors driving the market growth during the forecast period. Funeral home software helps in resource scheduling, work order management, credit card payment processing, custom form generation, and case note creation.
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COVID–19 Impact on Funeral Home Software Market
North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies, presence of a large funeral home corporations, and high purchasing power, especially in developed countries such as the US and Canada. At present, the US is the world's worst-affected country due to the COVID-19 outbreak. The US is a prominent market for funeral home software. The huge increase in the number of confirmed cases and reported deaths in the country has propelled the demand for advanced funeral home software solutions. The North America region is home to many chain funeral home corporations, and thus the impact of COVID-19 outbreak is anticipated to be positive in the current scenario.
The funeral home software market is segmented into five major regions North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America is expected to offer multiple growth opportunities to market vendors during the forecast period, owing to increasing number of market players and digital solutions for funerals. The US, Canada, and Mexico are among the key markets for funeral home software. APAC is anticipated to grow at the highest CAGR during the forecast period. The market growth in APAC is mainly driven by the rising awareness about the software and increasing smartphone and internet penetration.
Strategic Insights
The market players present in the funeral home software market are mainly focusing toward the development of advanced and efficient products. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world the company maintain its brand name globally.
• In 2020, Front Runner Professional released their new virtual identification tool, EasyID. The tool uses email technology to provide a secure portal to verify the identity of the remains.
• In 2019, CTV Software Pty Ltd announced the release of flagship funeral home software, Spirare. Version 4.0. The new features include a new dashboard with shortcuts, quick case creation button, and google calendar integration, among others.
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