The global Internet of Things (IoT) in Education market will grow from $4.8 billion in 2018 to $11.3 billion by 2023, a CAGR of 18.8%, according to new research.
The MarketsandMarkets report attributes the growth to an increase in the use of connected devices in educational institutions, growth in distance learning and eLearning, along with the availability of cloud-based solutions.
Network Management is expected to hold the largest market size during the forecast period, managing the infrastructure consisting of multivendor network elements and enhancing operational efficiency, which in turn reduces downtime.
Network management solution also offers various benefits, such as access to experts, routine monitoring, optimised operations, and cost-effectiveness, prevents business disruptions, increases productivity, and minimises security risks.
The deployment and integration services segment is expected to grow at the highest CAGR during the forecast period.
The reports says such 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.
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 digitalisation 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.
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).