The standard version is used for R&D and project work while the academic version is used for lab experimentation and teaching. 

The standard version is available as components which users can choose and assemble ( 

The academic version ( is available as a single product and includes all the technologies given.

The main difference between the two versions is the availability of protocol source code, packet & event tracing and external interfacing (MATLAB, LabVIEW, SUMO, Wireshark etc) interfacing in the standard version. 

Please see for a detailed comparison table.