IoT In Education Market Research, 2032
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 Internet of Things (IoT) is changing dynamically in the field of education system. The adoption of digital solution is not just making education omnipresent but also it is making traditional education systems, more efficient and effective. Smartphones and tablets in digital classrooms are being used by students for almost all age groups. The rise of mobile technology and the IoT allows education system to improve the safety of their campuses, keep track of key resources, and enhance access to information in the learning environment. Teachers/Professor can even use this technology to create smart lesson plans, rather than the traditional plans.
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 Internet of Things (IoT) in education market. Furthermore, reduction in the cost of connected devices and IoT traction among industries is expected to create lucrative opportunities for the expansion of the Internet of Things (IoT) in education market globally.
Also, the advancement in artificial intelligence (AI), augmented and virtual reality (AR/VR) which has the potential to mimic human thought and improve decision-making in challenging circumstances. These numerous beneficial factors are expected to fuel the IoT in education market 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 growth
The IoT in education market is segmented into Offering, Application and End-User.
The IoT in education market is segmented into offering, application, end-user, and region. The report provides information on various offering including hardware, software and service. In addition, it is categorized by different application such as learning management system, classroom management, administration management and others. The details of the end-user namely K-12, higher education and corporate are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
On the basis of offering, the global IoT in education market share was dominated by the hardware segment in 2022 and is expected to maintain its dominance in the upcoming years, increase in adoption of IoT devices in education sector to enhance operation, propel the growth of the hardware segment. However, the software segment is expected to witness the highest growth, as IoT software help to reduce the time and costs for education sector.
By region, North America dominated the market share in 2022 for the IoT in education market. The increasing investment in advanced technologies such as cloud-based services, AI, ML, business analytics solution and IoT to improve businesses and the customer experience is anticipated to propel the growth of the IoT in education market. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technologies are expected to provide lucrative growth opportunities for the market in this region. For instance, in July 2021, Huawei Technologies Co. Ltd. enhanced its IoT in education services by enabling innovative teaching methodologies, inclusive educational resources, improved research capabilities, and optimized management approaches.
COVID-19 Impact Analysis
The IoT in education market has witnessed significant growth in the past few years; due to the outbreak of the COVID-19 pandemic. However, in 2020, schools and educational institute around the world closed or halted in person instruction to mitigate the spread of the novel coronavirus. Caught in the middle of the year, teachers and students were forced into crisis mode and leaned heavily on the IoT to facilitate the shift to structured remote learning.
However, the pandemic laid bare many of the harsh realities of inequality in education. While video conferencing platforms like Zoom and other technologies such as virtual and augmented reality became household tools for some students, teachers and others particularly for low-income students that struggled with basic needs such as a reliable internet connection. As a result, EdTech companies and startups started to develop services and applications to be used in the classroom. For instance, startup such as Ideapaint dove headlong into the IoT by developing an app called Bounce with the goal of bringing more of the educational experience online. These numerous technology in educational start-ups are expected to provide lucrative opportunities for market growth during the forecast period.
Top Impacting Factors
Advent of advanced data analytics and data processing:
Emergence of various data analytics and data processing tools such as big data analytics, data science, Hadoop is driving the implementation of IoT in educator sector. Big data analytics consists of huge volume of heterogeneous data in structured, semi-structured, & unstructured forms. In case of IoT, connected devices are important components in IoT platform, which generate a massive amount of data that requires tracking in real-time. To achieve this goal, the use of data analytics and data processing has increased considerably. Moreover, big data analytics tools leverage IoT for easy functioning. When the complete IoT system acts as a data generated source, the role of big data in IoT becomes essential. Big data analytics is an emerging tool for analyzing data created by connected devices in IoT that assists to take the lead to improve decision-making. Furthermore, rise in awareness about real-time data and product lifecycle data in academics & education system is increasing, which is anticipated to boost the growth of the IoT in education market forecast.
The market players operating in the IoT in education market are Google LLC, SAP SE, IBM Corporation, Cisco Systems Inc., Amazon Web Services, Inc., Oracle Corporation, Huawei Technologies Co. Ltd., Microsoft Corporation, Intel Corporation and Rapidsoft Technologies Pvt. Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the IoT in education industry globally.
Recent Collaboration in the IoT In education Market
In October 2023, IBM and the Ministry of Electronics and Information Technology India collaborated to advance and accelerate AI, IoT, semiconductor, and quantum innovation for academic, startup, and innovation ecosystems.
In August 2023, OCI collaborated with the Ministry of Education in India to provide its enhanced IoT educational resources to millions of additional students, teachers, and collaborators across India.
In October 2022, Intel collaborated with CBSE and NITI Aayog to launch a program that integrates artificial intelligence and IoT across the school curriculum for classes VI to X.
Recent Product Launch in the IoT In education Market
In August 2021, Microsoft Corporation launched the education Innovation Summit to bring together education influencers and ministers across India to facilitate a dialogue on education transformation in the country, using AI, IoT technology to create a future forward and equitable learning ecosystem.
Key Benefits for Stakeholders
- The study provides an in-depth IoT In education market analysis along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the IoT In education market size is provided in the report.
- The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the IoT In education industry.
- The quantitative analysis of the global IoT In education market for the period 2022–2032 is provided to determine the IoT In education market potential.
IoT in Education Market Report Highlights
Market Size By 2032
USD 46.4 billion
CAGR of 18.6%
2022 - 2032
Key Market Players
Oracle Corporation, Rapidsoft Technologies Pvt. Ltd., Google LLC, Intel Corporation, Microsoft Corporation, Huawei Technologies Co. Ltd., Cisco Systems Inc., IBM Corporation, SAP SE, Amazon Web Services, Inc.
As the IoT in education industry continues to evolve, CXOs are evaluating the opportunities and challenges regarding this emerging technology. The IoT has the potential to transform the current educational system. As per experts analysis, IoT applications in educational settings could be a paradigm shift as it offer a broad range of services to school, administrators, teachers, students and others. However, by using a systematic model to analyze education, conceptions of achievement, issues, and solutions, the educational system can truly embrace this paradigm shift.
Moreover, using the IoT paradigm, everything from distributing exercises to grading papers will be automated and streamlined. Interactive content will soon become standard, and smart screens and whiteboards could indeed enhance learning while also involving more students in the educational process. Better and more long-lasting learning can be achieved through the visualization of challenging abstract concepts and quick access to new information via touch or click. Such factors are expected to provide lucrative opportunities for market growth during the forecast period.
Furthermore, technology helps in making education accessible for every student and is also beneficial for those who have special needs. The Internet of Things enables schools to improve campus safety, track key resources, and improve access to information in the learning environment.
However, IoT in education solutions requires significant investment in infrastructure, data analytics capabilities, and expertise, which can limit the global adoption of market. Furthermore, there are enormous opportunities for adopting educational kits for the learners. Making use of education kits speeds up the learning process and the realization of the potential of IoT. Increasing awareness and knowledge of IoT across disciplines could lead to the development of new smart things.