It is no surprise that cloud computing is taking the world by storm (pun not intended). With vastly rising markets around the world due to cloud capabilities, what does this spell for the education market? As of now the global cloud computing in education market stands at around $5 billion and is projected to rise to $12.38 billion by 2019. This is at a compound annual growth rate of 19.9%!
The education sector is seeing a major facelift thanks to revolutinary cloud computing. More time, money, space, etc. is now being saved for students, teachers, and administrators. What is incentivizing educational institutions to allocate more funds for cloud infrastructure is mostly due to stronger methods of communication, faster data recovery, and options for disaster planning. The major cloud computing vendors benefitting will be Salesforce.com, IBM, Cisco, Adobe, and Oracle. These and other vendors are aiding the drive for a cloud-based education sector mostly due to the indispensible requirement to become more technologically advanced. Other reasons include the evolving needs of a more mobile workforce, increased cost-effectiveness, and the ability to have enhanced infrastructure scalability.
Reports from different market research companies are staggering with regards to how large the cloud will grow and how many sectors it will be able to cover. In terms of market size, North America is expected to become the largest market while Europe and Asia-Pacific are seeing ever-increasing market traction.