LONDON--(BUSINESS WIRE)--Technavio has been monitoring the role of technology in the education market since 2016, tracing all the latest developments that have been impacting the market. The global information and communications technology services in education market is poised to grow by USD 18.84 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 4% during the forecast period.
“The changing demand for educational technology delivery and the intensifying competition among market players are factors which are encouraging educational institutes across the developing and developed regions to outsource application development services to third-party IT service providers. This is likely to boost the adoption of information and communications technology services from IT outsourcing service providers, which will boost market growth”, says a research analyst from Technavio.
The market is driven by the rising investments towards developing ICT infrastructure. In addition, the increasing emphasis on cloud computing is anticipated to further boost the growth of the information and communications technology services in the education market.
Governments across the world, including developed and developing countries, are increasingly focusing on developing advanced ICT infrastructure across colleges and schools. They are increasingly investing in the development of enhanced infrastructure due to the rise in technological advancements in the education sector. Several initiatives are also being taken by governments to help students efficiently use ICT. Thus, the rising investments in developing ICT infrastructure will drive the growth of the ICT services in education market during the forecast market.
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Five Major ICT Service Providers in the Education Market:
Adobe is one of the most popular technology companies in the world, which under three business segments: digital media, digital experience, and publishing. The company provides Creative Cloud for education, that offers industry-leading solutions to students and teachers, schools and universities, and educational institutions. It also offers various services such as marketing cloud and document cloud.
Cisco Systems is another leading company which operates under various segments, namely infrastructure platforms, applications, security, and other products and services. The company offers various ICT services in the education segment, including enabling anywhere learning, facilitating faculty research, infrastructure services, and updating campus networks.
Fujitsu provides information technology solutions under two categories: ubiquitous solutions, and device solutions. The company provides various educational technology solutions to schools and universities. These solutions enable the intelligent blending of educational technology with the curriculum by providing high-tech classrooms.
Gaia Technologies offers various ICT services such as managed ICT services, CPD and training services, integration solutions for improved workflows, ICT support, and cloud computing and hosted services. The company provides a comprehensive suite of ICT solutions to schools and colleges by incorporating robust technical solutions, support and training, innovative design, reliable end-user devices, and various managed ICT services.
IBM is one of the largest technology providers in the world. Through its IBM Watson cognitive solutions, the company offers various technology services and cloud platforms, cognitive solutions, and other services such as servers, storage, and software. It also offers personalized learning to students.
Technavio has segmented the information and communications technology services in the education market based on the end-user and region.
Information and Communications Technology Services in Education End-User Outlook (Revenue, USD Million, 2019 - 2023)
- Higher education
Information and communications technology services in Education Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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