IoT in Education Market by Component (Hardware, Solutions & Services), End User (Academic Institutions & Corporates), Application (Learning Management, Classroom Management, Administration Management & Surveillance), and Region - Global Forecast to 2023
Increasing use of connected devices in education institutions to drive the IoT in education market
The global IoT in education market size is expected to grow from USD 4.8 billion in 2018 to USD 11.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period. Major factors driving the IoT in education market include increasing use of connected devices in the education institutions, rapid adoption of eLearning, and availability of cloud-based solution. However, increasing cyber-attacks on education institutions raise the concern for data security and privacy and may hinder the adoption of IoT in education.
The application management solution to record the highest growth rate during the forecast period
Education institutions have been using various applications for enhancing the learning experience and increasing the interaction between educators and students. This, in turn, has significantly increased the demand for the application management solution. The solution helps education institutions to manage their various applications. The goal of the application management solution is to optimize cost and feasibility in a way that developers and commercial clientele can face when developing applications that need to collect, manage, and begin the interpretation of data generated by a wide range of connected endpoints. Education institutions are rapidly incorporating various applications for seamless operations and management that would spur the demand for the application management solution.
Deployment and integration service to hold the largest market size during the forecast period
The deployment and integration services segment is expected to grow at the highest CAGR during the forecast period. Deployment and integration services are important, as large volumes of information generated by IoT devices must be integrated with the existing systems, which require exact level of system integrators and system enablers to deploy and integrate IoT services and solutions.
Asia Pacific (APAC) to grow at the highest rate during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period, due to the robust adoption of IoT technologies in the Chinese and Indian education institutions, the combination of high-growth, developing economies, and the mass adoption of IoT technologies across education applications. The major APAC economies, such as China, Japan, Singapore, and India, are modernizing traditional education infrastructure.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the education and IoT marketplace.
By company type: Tier 1 – 38%, Tier 2 – 41%, and Tier 3 – 21%
By designation: C-level – 40%, D-level – 28%, and Others – 32%
By region: North America – 33%, APAC – 32%, Europe– 22%, and RoW- 13%
Major vendors covered in the IoT in education market include Google (US), Amazon Web Services (US), IBM (US), Microsoft (US), Oracle (US), Intel (US), Cisco (US), SAP (Germany), Huawei (China), Arm (UK), Unit4 (Netherlands), and Samsung (South Korea). The study includes an in-depth competitive analysis of these key players in the IoT in education market, with their company profiles, recent developments, and key market strategies.
The market study covers the IoT in education market size across segments. It aims at estimating the market size and the growth potential of this market across segments, such as solution, services, end user, application, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report will help market leaders/new entrants in the IoT in education market with information on the closest approximations of the revenue numbers for the overall IoT in education market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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