IoT in Education Market Scope
Internet of Things (IoT) is a fast growing network of a variety of different connected things. Use of IoT in academics is like a new wave of change that has brought new opportunities and possibilities for the enhancement of both teaching and learning process and educational institutions’ infrastructure. Technology in education has played an important role in connecting and educating the students. IoT technology has an important impact on education sector. Rise in demand of IoT solutions, rise in government expenditure on IoT technologies are the key factors fueling the market growth
According to AMA, the Global IoT in Education market is expected to see growth rate of 20.3%The major players are exploring the market in new regions by adopting mergers & acquisitions, expansions, new service launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions worldwide to avail competitive advantage through combined synergies Research Analyst at AMA estimates that Germany Vendors will contribute to the maximum growth of Global IoT in Education market throughout the predicted period.
Hitachi Ltd. (Japan), IBM Corporation (United States), SAP SE (Germany), Oracle (United States), Educomp Solutions (India), Cisco Systems Inc. (United States), Samsung Electronics Co. Ltd (South Korea), Pearson PLC (United Kingdom), Promethean Inc. (United States) and Tata Interactive Systems (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Ericsson (Sweden), SenseGiz (United States), Smart Technologies (Canada) and Construkts Inc. (United States).
Segmentation Overview
The study have segmented the market of Global IoT in Education market by Type (Hardware, Software and Services), by Application (Learning Management System, Lecture Capture Solution, Big Data Analytics and Academic Devices) and Region with country level break-up. On the basis of Type, Hardware are dominating the market in the year 2023 where as Software stood as second largest market share.
On the basis of application, Learning Management System segment is dominating the market in the year 2023 where as Academic Devices segment stood as second largest market.
On the basis of geography, the market of IoT in Education has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Trend:
Growing Demand of IoT Solutions and Increase in Government Expenditure on IoT Technologies
Market Growth Drivers:
Increasing Demand of Connected Devices in the Education Sector, Rising Adoption of E-Learning Worldwide and Availability of IoT Solutions and Applications
Challenges:
Reluctance of Adopting New Technologies by Educational Sector
Restraints:
Lack of Resources and Infrastructure in Developing Economies and Rise in Concern for Data Security and Privacy Due to Increasing Cyber Attacks on Educational Institutes
Opportunities:
Probable Growth Opportunities for System Integrators and Diminishing Cost of Connectivity and Connected Devices
Market Leaders and their Expansionary Development Strategies
In June , 2021 Hitachi Vantara, the digital infrastructure, data management, and digital solutions subsidiary of Hitachi Ltd. (TSE: 6501), acquired data management innovator Io-Tahoe, a subsidiary of the UK energy company Centrica. Founded in 2017, Io-Tahoe brings together data engineering, science, and analytics on an open, unified platform, enabling data teams to collaborate and innovate faster.
In May 2022, Hitachi Energy announced the launch of Lumada Inspection Insights, its end-to-end portfolio of digital solutions for inspection & monitoring of critical assets.
The Federal Information Security Modernization Act (FISMA) requires each federal agency to establish, document, implement and monitor information security programs for their assorted ICT systems
Key Target Audience
IoT Solution Provider, Suppliers of IoT Solutions, Educational Institutions, Governmental Bodies and Research Organizations
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.