The internet of things (IoT) is an emerging paradigm of educational applications and innovative technology in the current era. While capabilities are increasing day by day, there are still many limitations and challenges to utilizing these technologies within E-Learning in higher educational institutes (HEIs). The IoT is well-implemented in the United States of America (USA), United Kingdom (UK), Japan, and China but not in developing countries, including Saudi Arabia, Malaysia, Pakistan, Bangladesh, etc. Few studies have investigated the adoption of IoT in E-Learning within developing countries. Therefore, this research aims to examine the factors influencing IoT adoption for E-Learning to be utilized in HEIs. Further, an adoption model is proposed for IoT-based E-Learning in the contexts of developing countries and provides recommendations for enhancing the IoT adoption for E-Learning in HEIs. The IoT-based E-Learning model categorizes these influencing factors into four groups: individual, organizational, environmental, and technological. Influencing factors are compared along with a detailed description in order to determine which factors should be prioritized for efficient IoT-based E-Learning in HEIs. We identify the privacy (27%), infrastructure readiness (24%), financial constraints (24%), ease of use (20%), support of faculty (18%), interaction (15%), attitude (14%), and network and data security (14%), as the significant E-Learning influencing factors on IoT adoption in HEIs. These findings from the researcher's perspective will show that the national culture has a significant role in the individual, organizational, technological, and environmental behavior toward using new technology in developing countries.