IoT in Education Market Expected to Reach $46.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “IoT in Education Market," The iot in education market was valued at $8.7 billion in 2022, and is estimated to reach $46.4 billion by 2032, growing at a CAGR of 18.6% from 2023 to 2032.

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.

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.

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.

The pandemic has highlighted the necessity of digital solutions in the education sector. Post-COVID, there are increased opportunities for cloud-based solution and IoT-based technology in sectors. The IoT has gained attention from educators and school administrators globally due to its potential in the education system. As it has capacity to connect devices, machines, and other objects to a shared network. In addition, IoT in education sectors can facilitate learning system in new and exciting ways.

Furthermore, IoT in education can provide school administrators with more accurate data about everything from student performance to class attendance. This data can be employed to identify areas that need improvement and create strategies for ensuring maximum learning outcomes. In addition, it provides an extra layer of security in monitoring and preventing unauthorized access to educational resources. With the sensors, cameras, and other devices connected to an IoT network, educational institute can secure their premises effectively and keep track of the building. Furthermore, the Internet of Things allows remote access to all materials and online lessons.

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.

Key Findings of the Study

• By offering, the hardware segment accounted for the largest IoT in education market share in 2022.
• By application, the classroom management segment accounted for the largest IoT in education market share in 2022.
• Depending on end-user, the higher education segment accounted for the largest IoT in education market share in 2022.
• Region wise, North America generated the highest revenue in 2022.

The key players operating in the IoT in education market analysis 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 players have adopted various strategies to increase their market penetration and strengthen their position in the IoT in education industry.