Allied Market Research published a report, titled “IoT In education Market by Offering (Hardware, Software, and Service), Application (Learning Management System, Classroom Management, Administration Management, and Others), End-User (K-12, Higher Education, and Corporate): Global Opportunity Analysis and Industry Forecast, 2023-2032″.
The report claims the IoT In education industry generated $8.7 billion in 2022, and is projected to reach at $46.4 billion by 2032, witnessing a CAGR of 18.6% from 2023 to 2032.
Prime determinants of growth
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.
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