A report by MarketsandMarkets has revealed the education-based cloud computing market is accelerating at an amazing pace, with researchers predicting a compound annual growth rate (CAGR) of 20.8 per cent between 2015 and 2020.
The research firm said the market will grow from $5.83bn in 2015 to $15.02bn by 2020, with the US continuing to demonstrate the biggest gains and Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America breaking out of the nascent stage.
"Cloud services in [the] education sector enable efficient management of business processes and effective knowledge delivery to students," MarketsandMarkets said. "This results in higher student engagement, better collaboration among stakeholders, and improved student performance."
The report explained that every educational establishment, from nurseries to primary schools, secondary schools, colleges and universities are using the latest IT technology to centrally manage their processes, whether admissions and registrations, student management, faculty management, course management, and/or library management.
Adoption of cloud computing technologies has brought massive benefits to the education sector, with improved collaboration between students and tutors and the establishment as a whole, a better learning experience, which in turn fosters innovation and higher levels of student success.
Using these collaborative cloud technologies across devices has also meant students and teachers can communicate more effectively, tracking performance, sharing notes, administration emails and receiving assignments.
It seems the biggest growth area for cloud computing in education is the adoption of public cloud services, although it will continue to be segmented across Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS).
"There is a 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 [the] education sector," MarketsandMarkets continued.
