It isn’t easy to give a precise figure because many factors may affect the price estimation. The cost of the development of a smart education system using IoT may vary depending on the complexity of the features, the choice of the tech stack, desired deadline, budget, whether it’s an MVP or a full-fledged product, and many others. Also, the location of the software vendor may affect the cost of such a solution as well.
For instance, the average hourly rate of the developers from the United States is $80 per hour, the specialists from the countries of Western Europe, like Germany, will cost you approximately $65 per hour, while the software specialists from Eastern Europe, for example from Ukraine, will cost only $35 per hour.