AI refers to the theory and development of computer systems with the capability of performing repetitive tasks that require human intelligence. In the AI in education market, AI-enabled solutions and services perform various functions, such as knowledge delivery, grading and grouping of students on a performance basis, and intelligent tutorial systems to improve the learning experience of students and teachers.
AI technologies such as deep learning, machine learning, and NLP are applied to education and training software to improve performance and learning experience. AI technologies are implemented as per educational models such as the learner model, pedagogical model, and domain model to improve educational systems for better knowledge delivery and assessment.
The global AI in education market is projected to reach USD 3.68 billion by 2023, at a CAGR of 47% during the forecast period 2018 till 2023.
Natural language processing (NLP) technology is expected to grow at a higher CAGR during the forecast period:
The NLP technology is expected to grow at a higher Compound annual growth rate (CAGR) compared to machine learning and deep learning technology type, during the forecast period. This high growth is attributed to the growing demand for virtual support in K-12 schools and universities, coupled with rising investments in advance technology by educational institutes. Furthermore, in the education industry, the utilization of NLP technology is increasing to help read the information stored in the digital format and understand the human languages from various data sets.
The virtual facilitators and learning environments application is projected to have the largest market size by 2023:
The virtual facilitators and learning environments application is also referred to as the digital education learning technology. VLEs include knowledge delivery, academic mapping and planning of students, students’ engagement and administration, and real-time communication and collaboration. The AI-enabled virtual facilitator acts as instructor support, a mentor for students, and a multilingual translator. These AI-enabled facilitators and environments satisfy individuals’ learning requirements of independent educational programs and home-based education. Additionally, virtual environments enable students to solve complicated real-time social problems using multiple disciplines and principles related to social development. Virtual facilitators and learning environments use simulation, games, and AI technology to encourage students and enhance their learning experience to gain and improve their knowledge level.
AI in Education Market:
Services component is expected to grow at a higher CAGR during the forecast period, as the demand for AI-enabled solutions and services has increased in educational enterprises due to the growing government support and technological advancements.
APAC is expected to grow at the highest CAGR during the forecast period. This is attributed to a huge number of end-users utilizing education devices, thus leading to the increased demand for more AI-enabled solutions and services.
Global AI in Education Market (2020-2026) | Know About Brand Players: Google, IBM, Pearson, Microsoft, AWS:
AI in Education Market research report provides various levels of analysis such as industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the AI in Education market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The AI in Education market report elaborates insights on the Market Diversification (Exhaustive information about new products, untapped regions, and recent developments), Competitive Assessment (In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the AI in Education market).
Market segmentation based on the Key Players, Types & Applications:
AI in Education Market on the basis of Product Type:
- Deep Learning and Machine Learning
- Natural Language Processing (NLP)
AI in Education Market on the basis of Applications:
- Educational Institutes
- Educational Publishers
Top Key Players in AI in Education market:
- Nuance Communications
- QuantumAdaptive Learning
- Third Space Learning
This report brings together multiple data sources to provide a comprehensive overview of AI in Education and its analysis are as follows :
- Market Environment: Includes sector size, market size, and growth analysis by segmentation.
- High-potential Countries’ Analysis: Indicates changing share of value consumption in the various segments & sub-segments across high-potential countries globally. The report also provides analysis of market assessment, economic development, socio-demographic, governance indicators, and technological infrastructure.
- Country Deep Dive: Provides the overview, demographic analysis, and key trends across high potential countries.
- Competitive Environment: Provides an overview of leading key players, besides analyzing the growth of private labels in the region.
- Distribution Analysis: Provides analysis of the leading distribution channels.
- Challenges and Future Outlook: Provides the challenges and future outlook pertaining to AI in Education
Industrial Analysis of AI in Education Market:
Reasons to Buy AI in Education market Report:
- Manufacturing and retailers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This AI in Education market report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region.
- The AI in Education market report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape, and demographic analysis, that can help companies gain insight into the country-specific nuances.
- The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region than can help companies in revenue expansion.
- To gain competitive intelligence about leading companies in the sector in the region with information about their market share and growth rates.
Driver: AI technology enhancing and improving teachers’ and students’ experience and knowledge level:
AI technology vendors are developing AI-enabled electronic devices by designing advanced learning programs that improve learning processes. Educational institutes need to offer the best learning experience to sustain in the competitive world. For instance, Century Intelligent Learning developed a classroom using the AI technology that enables teachers to develop academic syllabus online, so that students can access their syllabus at any time. Additionally, the AI technology is used to identify loopholes in knowledge and recommend students subjects that he/she should choose, depending on the results of the aptitude test given by him/her. These questions are analyzed by AI technology to find the strengths and weaknesses of students. AI-enabled solutions and services for the education sector improve teachers as well as students’ experience and knowledge level. These solutions and services help teachers and parents understand their learners’ performance.
Restraint: Slow digitalization rate affecting the adoption of the AI technology in emerging economies:
Due to the lack of funds for the basic requirements of IT infrastructures in developing countries, AI-enabled deployments are completely dependent on available IT infrastructures, data, and Internet of Things (IoT) devices for capturing instances to generate accurate results. AI technological developments, cloud infrastructures, big data, and organized data filing play a vital role in the successful utilization of AI platforms in the education sector. Furthermore, the implementation of AI-enabled solutions in the education sector comprises online as well as offline environments to produce an effective outcome. The technical adaptability is witnessed greatly in developed countries; however, the emerging economies are expected to witness slow growth rate in terms of digitalization, thereby resulting in the slow growth rate of the AI in education market.
Opportunity: Growing demand for AI technology to enhance education systems:
Nowadays, classroom sizes are rapidly increasing, as a result, interactions between students and teachers are limited. AI technology is useful to analyze a huge number of data points for analyzing the performance of students. AI technology is transforming traditional educational processes by improving relationships between corporations and educational institutes. This technology sophisticates the processes of educational institutes.
AI tools are developed using AI platforms for institutes and universities. These tools enable them to gain expertise in solving students’ academic requirements and problems. This software would be able to provide the improved performance and productivity of students over the years. All these factors are expected to fuel a rise in the demand for intelligent business processes, which in turn, act as opportunities for the growth of the global AI in the education market.
Challenge: Lack of appropriateness of AI-enabled assessment processes:
Assessment processes include various types of questions such as true/false, fill in the blanks, multiple-choice questions, short answers, and essays. AI-enabled assessment software is unable to properly assess descriptive answers for each student, as these answers require logical thinking, situational judgment, and content accuracy. Currently, the solutions are undergoing improvements to provide accurate results. The key to cater to this challenge would be to recognize the nature of disorders, the level of AI technology to select appropriate assessments and the training tools for desired outcomes.