LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global cloud computing market in the K-12 education sector predicts a CAGR of above 27% during the period 2018-2022.
The report segments the global cloud computing market in the K-12 education sector by service, including software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS) and by geography, including, the Americas, EMEA, and APAC. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global cloud computing market in the K-12 education sector, according to Technavio education researchers:
- Reduced cost of ownership: a major market driver
- Integration of IoT with cloud computing: emerging market trend
- The Americas dominated the global cloud computing market in the K-12 education sector market with 44% share in 2017
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Reduced cost of ownership: a major market driver
Cloud services enable K-12 schools to invest reasonably in supporting and maintaining the infrastructure requirements to provide good-quality education. Adopting the cloud for the K-12 sector indicates moving away from a CAPEX model (physical assets that depreciate) to an OPEX model (pay per use). Cloud services are economical for schools that are facing a decline in funding but are willing to invest in cost-effective cloud-based technology to improve learning standards. Cloud computing also brings down the costs incurred in buying, leasing, and maintaining photocopiers and printers, ink cartridges, and paper. Such cost savings allows schools to upgrade their existing infrastructure with the latest technologies without increasing their overall expenditure.
Staff expenses are also reduced when educational institutes adopt cloud computing technology. The costs associated with the maintenance of the existing infrastructure are handled by third-party providers, which reduces the burden of the IT staff. This also proves to be less time consuming for the schools. Cloud computing reduces the overall total cost of ownership and improves staff productivity, thus permitting the higher adoption of cloud computing in the education market.
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Integration of IoT with cloud computing: emerging market trend
The Internet of Things (IoT) and cloud computing have evolved as influential technologies in the education sector. Both these technologies are expected to open new avenues for educational institutes across the world, which will create effective learning environment for students. High adoption of experiential learning can be witnessed among the next-generation students. Integration of cloud computing with IoT helps in resolving challenges such as developing innovative curriculum reflecting radical shifts in the technology and augmenting the learning experience to gain students' interest.
According to a senior analyst at Technavio for research on education technology, “Cloud computing enables the key stakeholders of the education system, which includes students, administrative staff, faculties, and concerned departments, to upload and access assignments, tutorials, and tests from the cloud server. The integration of IoT with the cloud will prepare students for a highly competitive workplace in future.”
Global market opportunities
In terms of regional dominance, the Americas led the global cloud computing market in the K-12 education sector. The rise in the number of K-12 educational institutes using cloud-based solutions, allowing teachers to upload tests, assessments, and research materials that can be accessed and shared by students from the same cloud-based platform are prevalent factors driving the American market.
EMEA had the second highest market share in 2017, and it is expected to accelerate during the forecast period due to the continuous increase in demand for cloud-based solutions in K-12 schools particularly in countries such as Germany, the UK, France, and Italy. In APAC, countries such as China, Australia, and Singapore are driving the market for cloud-based solutions in K-12 education.
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