IoT in Education Market Set to Surge to $46.4 Billion by 2032 at a 18.6% CAGR

The global IoT in Education Market was valued at $8.7 billion in 2022, and is projected to reach $46.4 billion by 2032, growing at a CAGR of 18.6% from 2023 to 2032. The growth of the IoT in Education Market is majorly driven by development of wireless networking technologies, increase in cloud platform adoption, and advent of advanced data analytics & data processing. However, data security & privacy concerns and high implementation & maintenance cost of IoT devices restrain the growth of the market globally. Furthermore, reduction in the cost of connected devices and IoT traction among education sector is expected to create lucrative opportunities for the expansion of the IoT in education market, globally.

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By end user, the higher education segment held the highest market share in 2022, accounting for nearly half of the IoT In education market revenue, and is estimated to maintain its dominance during the forecast period. Higher educational institutions play a pivotal role in shaping the integration of the Internet of Things (IoT) in education. Through research, development, and innovative practices, universities and colleges have been influential in leveraging IoT technology to enhance the educational experience. However, the K-12 segment is projected to attain the highest CAGR of 20.7% from 2023 to 2032. The growing emphasis on incorporating immersive technologies such as augmented reality (AR) and virtual reality (VR) to create more interactive and engaging learning experiences for K-12.

With the advent of new technologies and the emergence of tech-savvy generations, education is becoming more fast-paced. In addition, to cater to the needs of these students, IoT-enabled education solutions are key, which range from interactive displays, digital boards, language labs, and tablets to school security applications. The IoT is transforming the education sector and enabling educational institutions to become Wi-Fi-enabled smart learning environments. Wi-Fi and sensor technologies can now be used to enable complete integration, intercommunication, and synchronization processes in new smart systems. However, enhancing internet accessibility at the grassroots level has always been challenging, but with the IoT in education, can transform classrooms at a greater level, increasing the ease of use of technology even in rural areas. These factors are expected to propel the IoT in education industry growth.

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Based on application, the classroom management segment held the highest market share in 2022, accounting for two-fifths of the IoT In education market revenue, and is estimated to maintain its dominance during the forecast period. IoT plays a pivotal role in improving classroom management by introducing innovative technologies that enhance the learning environment. IoT devices, such as sensors and smart equipment, are strategically deployed in classrooms to streamline various aspects of management. However, the learning management system segment is projected to attain the highest CAGR of 21.8% from 2023 to 2032. Growth in adoption of learning management system (LMS) solution is to streamline and enhance the administration, delivery, and management of educational content and training programs.

Based on the application, the classroom management segment dominated the IoT in education market size in 2022 and is expected to continue this trend during the forecast period. IoT plays a pivotal role in improving classroom management by introducing innovative technologies that enhance the learning environment. IoT devices, such as sensors and smart equipment, are strategically deployed in classrooms to streamline various aspects of management. These devices can automatically adjust lighting, temperature, and air quality, ensuring a comfortable and conducive setting for students. However, the learning management system segment is expected to witness the highest Internet of Things (IoT) in education market growth in the upcoming year. Growth in adoption of learning management system (LMS) solution is to streamline and enhance the administration, delivery, and management of educational content and training programs. It serves as a centralized platform where educators or administrators can create, organize, and distribute learning materials, enroll students or trainees, track their progress, assess their performance, and facilitate communication.

The key players profiled in this report include

Google LLC
SAP SE
IBM Corporation
Cisco Systems Inc.
Amazon Web Services, Inc.
Oracle Corporation
Huawei Technologies Co. Ltd.
Microsoft Corporation
Intel Corporation
Rapidsoft Technologies Pvt. Ltd.

The report provides a detailed analysis of these key players in the IoT In education market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Regional Analysis:

Region-wise, North America dominated the market share in 2022 for the IoT in education market. The adoption of IoT in education growing steadily to meet increasing demands from today's businesses to enhance their business process and improve the customer experience will provide lucrative opportunities for the market in this region. However, Asia-Pacific is expected to exhibit the highest Internet of Things (IoT) in education market growth during the forecast period. This is attributed to the increase in penetration of advanced technology such as AI/ML big data and others, which is particularly fueling regional market growth. In addition, surge in digitalization toward business operation, is projected to provide lucrative growth opportunities for the market in Asia-Pacific region.

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Moreover, in the era of the evolution of EdTech and the increasing role of e-learning, this is a significant advantage, which is providing a collaborative educational process. Such numerous factors for IoT in education sector to grow in the forecast period as more and more businesses adopt such digital trends. For instance, in January 2022, RAKwireless Technology Co., Ltd. (RAK), a pioneer in LPWA end-to-end solutions and IoT technology provider, partnered with One Planet Education Network to provide OPEN-RAK Do-It-Yourself (DIY) STEM Lab Sensor Wisblock kits to students. This partnership mission is to bridge the digital divide by providing students everywhere with easy-to-use kits that teach students the real-life applications of IoT, with students deploying in their local communities for sustainable community development applications. Such enhanced developments are expected to provide lucrative opportunities for IoT in education market forecast.

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