The Cloud storage market for education Industry was valued at US$0.889 billion in 2017 and is projected to expand at a CAGR of 28.41% over the forecast period to reach US$3.986 billion by 2023. Educational institutions around the world are increasingly adopting cloud technology for different processes including admission, collaboration, teaching, and learning. According to a UNESCO Institute for Information Technologies in Education report, the global demand for primary and higher education through the cloud is projected to be doubled by 2025. An upsurge in the number of students, both in schools and colleges, who own personal connected devices including smartphones, laptops, and portable game consoles and burgeoning concept of Bring Your Own Device (BYOD) among teachers are driving the demand for cloud storage solutions in the educational institutions. School administrations across various regions are also using mobile devices to provide access to curriculum content from home which is leading to high rate of adoption of virtualization technologies in the global education sector so as to present educationally valid content on a broad range of mobile devices. With cloud storage, sharing of resources, collaboration with other teachers and students, and tracking changes become easy for both the teacher and student. Thus, the market for cloud storage is increasingly gaining traction in the education sector owing to the advantages offered by the cloud storage solution and increasing incorporation of smart devices in the curriculum.
By solution, the cloud storage market for education industry is segmented as primary and backup storage. The market for backup storage is expected to witness an impressive growth as enterprises continue to drift towards cloud for backing up their critical data and IT environment to ensure business continuity.
By Deployment Model
By deployment model, the cloud storage market for education industry is segmented as public, private and hybrid cloud. Education sector is majorly using public cloud model as pay-per-use model to reduce the total cost of ownership by eliminating the need of expensive hardware.
By services, the cloud storage market for education industry is segmented as integration, consulting and others. All these services are provided to the customers by the cloud storage solution provider so as to help businesses to boost their productivity in an efficient manner.
By Enterprise size
By enterprise size, the cloud storage market for education industry is segmented as large and small and medium-sized business (SMB). SMB are expected to show a steady growth in the market owing to the funding they are receiving to provide SaaS models by the educational sector.
Geographically, the cloud storage market for education industry is segmented as North America, Europe, Middle East & Africa, Asia-Pacific and South America. North America holds a significant share in the market owing to the government encouraging cloud adoption in a number of sectors. For instance, in 2011, the U.S. government instituted CloudFirst Policy to accelerate the pace of cloud adoption by requiring agencies to evaluate and adopt safe and secure cloud computing options before making any new investments. Asia Pacific is expected to witness the fastest growth rate over the projected period owing to the increasing digitization and increasing penetration of internet in this region.
The cloud storage market for education is competitive owing to the increasing adoption of cloud storage solutions in the education sector .The key players include Amazon Web Services, Inc., Microsoft, IBM, Google, Hewlett Packard Enterprise Development LP, FUJITSU, RACKSPACE US, Inc and INSIGHT among others.
The cloud storage market for education industry has been analyzed through following segments: