USD 46.4 Billion IoT in Education Market to Reach by 2032 | Top Players such as – Rapidsoft, AWS & Huawei

IoT in Education Market is driven by wireless networking technologies, cloud platform adoption & advent of advanced data analytics & data processing solutions.

PORTLAND, PORTLAND, OR, UNITED STATE, November 30, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The USD 46.4 Billion IoT in Education Market to Reach by 2032 | Top Players such as – Rapidsoft, AWS & Huawei.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global IoT in education market was valued at USD 8.7 billion in 2022, and is projected to reach USD 46.4 billion by 2032, growing at a CAGR of 18.6% from 2023 to 2032.

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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.

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.

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By offering, the hardware segment held the highest market share in 2022, accounting of nearly three-fourths of the IoT In education market revenue, and is estimated to maintain its dominance during the forecast period. Increase in adoption of IoT devices in education sector to enhance operation, propels the growth of the hardware segment. However, the software segment is expected to attain the largest CAGR of 21.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, as IoT software helps to reduce the time and costs for the education sector.

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.

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Region-wise, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the IoT In education market revenue. The increase in investment of businesses and government bodies in advanced technologies such as cloud-based services, AI, ML, and IoT to improve customer experience are anticipated to propel the growth of the IoT In education market. However, Asia-Pacific is expected to witness the fastest CAGR of 21.7% from 2023 to 2032. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technology are expected to provide lucrative growth opportunities for the market in this region.

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.

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