IoT in Education Market expected to gain $11.3 billion by 2023

According to a new market research report "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" published by MarketsandMarkets™, the IoT in education market size 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 growth factors for the IoT in education market include an increasing use of connected devices in the education institutions, rapid adoption of eLearning, and availability of cloud-based solution.

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Network Management to hold the largest market size during the forecast period

A network management solution deployed in education institutions manages an infrastructure that consists of multivendor network elements. The solution enhances the operational efficiency and reduces downtime. It receives and processes events from network elements, like various devices in the network. Events from servers and other critical resources can also be forwarded to a network management solution. Network management solution also offers various benefits, such as access to experts, routine monitoring, optimized operations, and cost-effectiveness, prevents business disruptions, increases productivity, and minimizes security risks.

Increasing demand for connected devices in academics to drive deployment and integration services segment

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 the huge 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. Deployment and integration service providers help institutions to develop a connected environment by integrating IoT devices and solutions with the educational environment. The deployment and integration service providers collect customer requirements, and then install, integrate, test, and rollout the IoT solutions.

North America to hold the largest market size during the forecast period

In the market by region, North America is expected to hold the largest market size during the forecast period. The region is one of the largest contributors to the global IoT space, as it is technologically developed. Moreover, the startup culture in North America is growing rapidly. The rapid digitalization across industry verticals, the increasing adoption of smart connected devices, and the technological advancements would fuel the growth of IoT in education market in North America.

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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).

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