Cloud computing has become the buzzword for many industries today. It is a system of using a dedicated network of remote servers on the internet. Rapid rise in demand for the cloud computing, revolution in the global information technology market and tremendous advancements in the global education sector are creating strong business prospects for the global cloud computing market. the market is aiming at impressive growth in the coming few years, mainly because of the rapid adoption of technology and growth in education sector of the emerging markets like Asia Pacific, Latin America, Africa, and Middle East. Technological advancements in the existing systems in the industry are also set to create steady growth prospects for the market.
Scope of Research for Education Cloud Computing Market
Researchers segment the global market into different types of service models, deployment models, users and geographic regions. The service models include software-as-a-service (SaaS), infrastructure-as-a-service (ISaaS) and platform-as-a-service (PaaS). The deployment models include hybrid, public and community cloud. Basic end-users in the market include high education institutes and K-12 schools. On the basis of the geographic regions, the global cloud computing in education market is divided into North America, Latin America, Middle East and Africa, Asia Pacific and Europe. Analysis of all these segments provides details about the growth trends, future opportunities, challenges and competitive outlook for the existing players and potential smaller players.
Drivers & Restraints
As per the expert analysis, the global cloud computing in education market is driven by four vital drivers. These drivers include rising costs flexibility, evolving needs of the education sector driven by mobile workforce, enhanced scalability of infrastructure and strong demand for technologically sound educational systems across the world. Major restraints for the market include concerns about legal, regulatory and data security and lack of trust by the educational institutes. Despite these restraints, researchers expect easy deployment and improved business models to create ample opportunities in this market during the next few years to come.
As per the market research reports, the global cloud computing market is expected to be driven at a steady CAGR of over 19% from 2014 to 2019. At the estimated compound annual growth rate, the industry is expected to become worth more than 12.38 billion by the end of the year 2019. As of 2014, the industry was securely poised at estimated $5.5 billion. North America and other developed regions like Europe are expected to drive this market at steady rate. Awareness and government efforts from emerging regions are expected to create steady rise in demand for the industry in these regions. This is considered to be a vital driver for business expansions and mergers.