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 growth factors for the IoT in education market include an increasing use of connected devices in education institutions, rapid adoption of eLearning, and availability of cloud-based solution.
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). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations and new product launches, to further expand their presence in the IoT in education market. Partnerships and new product launches have been the most followed strategies by major players from 2016 to 2018, which helped them innovate their offerings and broaden their customer base.
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IBM is a major player in the IoT in education market. The company has entered the IoT in education market with the introduction of its Watson platform. This platform offers a wide range of solutions and services that cater to various education institutions and business applications. The platform is a fully managed, cloud-hosted service that makes it simple to derive value from IoT devices. It is a platform that can provide hub for organizations, platform providers, and other participants in the IoT marketplace. In June 2018, IBM partnered with Edmodo, a US-based educational technology company; and Scholastic, a US-based publication company, to provide them with IBM’s Watson Education platform for developed and improved academic performance.
Huawei is another top player in the IoT in education market. Huawei’s Smart Campus solution for education leverages advanced ICT architecture to develop smart campuses and bring great convenience, flexibility, and efficiency to campus life with robust features. Huawei uses Advanced Metering Infrastructure (AMI) to monitor power consumption in key campus areas and systems. The Smart Campus Solution for education also easily integrates with office automation systems to monitor device power consumption, provide inductive switch control, and limit excessive power consumption. In November 2018, Huawei’s cloud division launched a new blockchain service for users, globally. Huawei Cloud is now focused on developing its blockchain platform to offer significant advantages, such as flexibility, efficiency, cost-effective, and robust security for academic institutions.
IoT in Education Market by Component (Hardware, Solutions & Services), End User (Academic Institutions & Corporates), Application (Learning Management, Classroom Management, Administration Management & Surveillance), and Region - Global Forecast to 2023
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