Cloud Computing in Education Market Worth 15.02 Billion USD by 2020
PUNE, India, December 3, 2015 /PRNewswire/ --
According to a new market research report "Cloud Computing in Education Market by Service Model (SaaS, PaaS, and IaaS), Deployment Model (Private Cloud, Public Cloud, Hybrid Cloud, and Community Cloud), User Type (K-12 and Higher Education) & by Region - Global Forecast to 2020", published by MarketsandMarkets, The market is estimated to grow from USD 5.83 Billion in 2015 to USD 15.02 Billion by 2020, at an estimated compound annual growth rate (CAGR) of 20.8% from 2015 to 2020.
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The market is estimated to grow from USD 5.83 Billion in 2015 to USD 15.02 Billion by 2020, at an estimated compound annual growth rate (CAGR) of 20.8% from 2015 to 2020. Cloud services in education sector enable efficient management of business processes and effective knowledge delivery to students. This results in higher student engagement, better collaboration among stakeholders, and improved student performance. Growing need for a centralized system for the management of academic processes and competition among academic institutions are the driving forces of the Cloud Computing in Education Market.
Need for centralized system for the management of academic processes
Nowadays, every academic institution, from kindergarten to graduation institutes, are employing latest IT technologies and services to centrally manage their various business processes, such as admissions and registrations, student management, faculty management, course management, and library management. Adoption of cloud computing technologies has resulted in a number of benefits to the academic institutions, such as improved collaboration between student and institute, better learning and innovation, higher student success, higher administrative efficiency, better knowledge sharing, and improved consultancy to students. These days, academic institutions allow network connectivity to the mobile devices connectivity with cloud enables students and teachers to receive administrative emails, track their performance, use online resources and share notes, assignments and projects.
The North America region is expected to contribute the maximum market share to the overall Cloud Computing in Education Market
This market is in the nascent stage in Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America, as cloud technology in these regions have immense scope for enhancement. Moreover, there is huge return on investment in the cloud computing market as opportunities for augmented performance are always increasing, hence educational institutes and government organizations across all the regions continue to visualize more effectively about the need for cloud-based solutions and services in education sector.
The major vendors in the Cloud Computing in Education Market include Adobe Systems, Cisco Systems, IBM, Oracle, Microsoft, NEC, NetApp, VMware, Amazon Web Services, and Ellucian. A detailed analysis on key industry players is done to provide insights about their businesses, products and services, key strategies, and recent developments associated with the Cloud Computing in Education Market.
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The public cloud deployment model is expected to play a key role in the Cloud Computing in Education Market.
The Cloud Computing in Education Market has been segmented into service model, deployment model, user type, and region. The service model is further segmented into Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS). The deployment models are private cloud, public cloud, hybrid cloud, and community cloud. User type is segmented into K-12 and higher education. Furthermore, the report classifies the market according to the regions of North America, Europe, APAC, MEA, and Latin America.
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