DUBLIN–(BUSINESS WIRE)–The “Global Cloud Computing in Higher Education Market, By Institute Type, By Application, By Ownership, By Deployment, By Region, Estimation & Forecast, 2017 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The global Cloud Computing in Higher Education market held a market value of USD 2,182.4 Million in 2020 and is forecasted to reach USD 8,779.1 Million by the year 2027. The market is anticipated to register a CAGR of 22% over the projected period.
Cloud computing in higher education assists teachers, administrators, and students in their education related activities. It helps teachers for uploading learning materials, students to access their homeworks, and administrators to easily collaborate with each other and save money on data storage. Increasing adoption of SaaS based cloud platforms in higher education and growing adoption of e-learning is anticipated to boost the market growth. Furthermore, rising IT spending on cloud infrastructure in education coupled with increasing application of quantum computing in education sector is also expected to fuel the market growth.
Despite the driving factors, cybersecurity and data protection risks are estimated to restrain the market growth. Also, lack of compliance to the SLA and legal & jurisdiction issue is estimated to negatively hamper the market growth. Furthermore, rigid design of cloud-based systems is also expected to hinder the market growth during the forecast period.
Increasing adoption of SaaS based cloud platforms in higher education
Adoption of SaaS based cloud platforms have increased in many industries. In the higher education sector, adoption of these platforms increased rapidly during the COVID-19 pandemic. This is because the transition to virtual learning has driven many institutions for reevaluate the longevity of their technology stack. Furthermore, various advantages associated with SaaS based platform are expected to boost the market growth. These benefits include fewer IT demands & constraints on capacity, greater flexibility to meet needs, enhanced collaboration, less down time, data recovery, enhanced security, and predictable monthly expenses. Therefore, increasing adoption of SaaS based cloud platforms in higher education is estimated to fuel the market growth.
Based on region, the global Cloud Computing in Higher Education market is divided into Europe, North America, Asia, Middle East, Africa, and South America.
The North America region is expected to hold the largest market share of around 29% owing to the rising adoption of technologically advanced products in the U.S. and Canada. The Asia Pacific region is anticipated to witness the fastest growth rate of around 26.6% owing to growing awareness regarding cloud computing technologies in the region.
The global Cloud Computing in Higher Education market is segmented the institute type, application, ownership, and deployment.
By Institute Type
- Technical school
- Ivy League Schools (Universities)
- Community Colleges
The technical schools segment is expected to grow at the fastest rate of more than 23% owing to increasing demand for cloud computing in technical schools. The community colleges segment is anticipated to hold a market share of about 16% in 2020.
- Calendar (Scheduling & Planning)
- Identity Access Management
- Content/ Document Storage & Management
- Unified Communication (Email, video conferencing/seminars)
The administration segment is estimated to hold the largest market share of about 44% owing to high usage of cloud computing for administrative purposes such as payments and planning, among others. Within this, the calendar sub segment is expected to surpass a value of USD 287 million by 2025. The content/document storage and management segment is anticipated to witness the fastest growth rate of about 23.5% owing to use of cloud computing services for storage purposes.
- Public Institutes
- Private Institutes
The private institutes segment is anticipated to hold the largest market share owing to increasing funding in private institutes for adoption of cloud computing services. The public institutes segment is expected to grow at the fastest rate owing to growing government initiatives to install cloud computing based education systems in public institutes.
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Community Cloud
The hybrid cloud segment held the largest market share as it allows educational institutes to deploy a system or an application using more than one type of deployment model. The private cloud segment is expected to witness the fastest growth and cross a market value of USD 900 million by 2023.
- Adobe Systems, Inc.
- Alibaba Group
- Cisco Systems, Inc.
- International Business Machines (IBM) Corporation
- Oracle Corporation
- NEC Corporation
- Microsoft Corporation
- VMware, Inc.
- Amazon Web Services, Inc.
- Ellucian Company L.P.
- Dell EMC
For more information about this report visit https://www.researchandmarkets.com/r/kd3ypr