The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for global cloud computing in higher education market from US$ 2,693.5 Million in 2021 to US$ 15,180.1 Million by 2030. The market is anticipated to grow at a CAGR of 22% during the forecast period 2022-2030.
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Cloud computing in higher education provides an online platform for educational institutes through various applications and subscription models. In this era of technology, employing latest IT technologies and services in higher education assists teachers, administrators and students in their education related activities. Cloud computing in higher education centrally manages the various business processes such as student and course management, helps teachers in uploading learning materials, students to access their homework, administrators to easily collaborate with each other and library management among others. Cloud computing segment is gaining majority of the spenders from high income group as well as skilled share of people from around the world.
On the basis of institute type, the technical schools are estimated to hold the highest market share in 2021 and is also expected to project the highest CAGR over the forecast period owing to increasing demand for cloud computing in technical schools. Moreover, based on ownership, private institutes segment is anticipated to hold the largest market share owing to increasing funding in private institutes for adoption of cloud computing services. Whereas, the public institutes segment is expected to grow at the highest CAGR over forecast period. Furthermore, in terms of application, administration application holds a major share in the cloud computing in higher education in 2021. Whereas, unified communication is expected to project the highest CAGR over the forecast period due to increasing trend of e-learning. In addition to this, by deployment, the hybrid cloud segment held the largest market share in 2021.
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Market Dynamics and Trends
Drivers
The increasing adoption of SaaS based cloud platforms in higher education, increasing adoption of e-learning, increasing IT spending on cloud infrastructure in education and increasing application of quantum computing in education sector will boost the global cloud computing in higher education market during the forecast period. Software-as-a-Service (SaaS) is a type of delivery model of cloud computing. In the higher education sector, SaaS applications include hosting various management systems for educational institutes and managing other activities. Moreover, higher education industry witnesses an increased adoption of e-learning due to its easy accessibility and high effectiveness. Users such as drop-outs, transfer learners, full-time employees are increasingly relying on e-learning trainings and education to upgrade their skills. Furthermore, higher education institutes are rapidly moving towards cloud-based services to save an intensive IT infrastructure cost and boost efficiency of operations.
Restraints
Cybersecurity and data protection risks, lack of compliance to the SLAÂ and legal and jurisdiction issues is a restraining factor which inhibits the growth of the market during the forecast period. Issues related to data privacy pose threats in interest to mitigation of higher education institutions to the cloud. There are federal regulations for higher education institutes along with state and local laws to manage information security in the education environment. Moreover, the level of complexity in the cloud is high, which usually complies with several service providers and thus makes it hard for users to make changes or intervene. Also, the cloud computing industry faces various legal and jurisdiction issues that can run into years due to regional laws.
Cloud Computing in Higher Education Market Country Wise Insights
- North America Cloud Computing in Higher Education Market-
US holds the major share in terms of revenue in the North America cloud computing in higher education market in 2021 and is also projected to grow with the highest CAGR during the forecast period. Moreover, in terms of institute type, technical schools hold the largest market share in 2021.
- Europe Cloud Computing in Higher Education Market-
Western Europe is expected to project the highest CAGR in the Europe cloud computing in higher education market during forecast period. Wherein, Germany held the major share in the Europe market in 2021 because there is high focus on innovations obtained from research & development and technology adoption in the region.
- Asia Pacific Cloud Computing in Higher Education Market-
India is the highest share holder region in the Asia Pacific cloud computing in higher education market in 2021 and is expected to project the highest CAGR during the forecast period owing to potential growth opportunities, as end users such as schools and universities are turning toward cloud services in order to offer high quality services that help users to collaborate, share and track multiple versions of a document.
- South America Cloud Computing in Higher Education Market-
Brazil is projected to grow with the highest CAGR in the South America cloud computing in higher education market over the forecast period. Furthermore, based on ownership, private institutes segment holds the major share in 2021 in the South America cloud computing in higher education market owing to increasing funding in private institutes for adoption of cloud computing services.
- Middle East Cloud Computing in Higher Education Market-
Egypt is the highest share holder region in 2021 and UAE is projected to grow with the highest CAGR during the forecast period. Moreover, in terms of application, administration holds a major share in the cloud computing in higher education in 2021. Whereas, unified communication is expected to project the highest CAGR over the forecast period due to increasing trend of e-learning.
- Africa Cloud Computing in Higher Education Market-
South Africa is the highest share holder region in the Africa cloud computing in higher education market in 2021. Furthermore, by deployment, the private cloud segment is expected to witness the highest CAGR during forecast period due to the security benefits provided by the private deployment of the cloud.
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