DUBLIN--(BUSINESS WIRE)--The "IoT in Education Market by Component (Hardware, Solutions & Services), End User (Academic Institutions & Corporates), Application (Learning Management, Classroom Management, Administration Management, Surveillance), Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global IoT in education market size is expected to grow from USD 4.8 billion in 2018 to USD 11.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period.
Major factors driving the IoT in education market include increasing use of connected devices in the education institutions, rapid adoption of eLearning, and availability of cloud-based solution. However, increasing cyber-attacks on education institutions raise the concern for data security and privacy and may hinder the adoption of IoT in education.
The application management solution to record the highest growth rate during the forecast period
Education institutions have been using various applications for enhancing the learning experience and increasing the interaction between educators and students. This, in turn, has significantly increased the demand for the application management solution. The solution helps education institutions to manage their various applications.
Market Dynamics
Drivers
- Increased Use of Connected Devices in the Education Industry
- Rapid Adoption of Elearning
- Availability of Cloud-Based Solutions and Applications
Restraints
- Increasing Cyber-Attacks on Educational Institutes to Raise the Concern for Data Security and Privacy
- Lack of Industry Standard and Interoperability
- Lack of Resources and Infrastructure in Developing Industries
Opportunities
- Gamification of the Educational Industry
- Increasing Expenditure in the Education Industry as A Percentage of GDP
- Potential Growth Opportunities for System Integrators
- Declining Cost of Connectivity and Connected Devices
Challenges
- Inability to Manage Real-Time and Unstructured Data
- Reluctance of Adopting New Technologies By Educational Institutes
Use Cases and Regulatory Implications
Regulatory Implications
- Right to Education
- National Science Education Standards
- International Standard Classification of Education
- European Network for Quality Assurance in Higher Education
- Australian Education Act
- Education Services for Overseas Students Act
- Fundamental Law of Education
- Compulsory Education Law of the People's Republic of China
- South African Schools Act, No. 84 of 1996
- The Education Act 2011
- Every Student Succeeds Act
- Funds for Maintenance and Development of the Fundamental Education and Valorization of Teaching
Companies Mentioned
- Altschool
- Arm
- AWS
- Betterlesson
- Brightbytes
- Brightwheel
- Cisco
- Cuemath
- Echo360
- Edupristine
- Examity
- Freshgrade
- Fullbridge
- Galvanize
- Grammarly
- Grovo
- Huawei
- IBM
- Intel
- Itutorgroup
- Knewton
- Knowre
- Learnzillion
- Littlebits
- Microsoft
- Newsela
- Oracle
- Quizlet
- Samsung
- SAP
- Schoology
- Simplilearn
- Unit4
-
Vitalsource
For more information about this report visit https://www.researchandmarkets.com/research/fbz53k/global_iot_in?w=4
