AI in Education Market Is Booming Worldwide | Top key Players Like Blippar, Century Tech Limited, Cerevrum, CheckiO, Pearson PLC, Volley.com, Trueshelf, Sofia Labs LLC, Knewton, Amazon Web Services, Blackboard

The AI in education market is characterized by a massive demand for virtual classrooms and tutors, owing to their cost-effectiveness and efficient delivery methods. Educational establishments are collaborating with EdTech (educational technology) companies to develop degree programs on virtual platforms and also a multitude of open courses to encouraging free education.

Evidently, the AI in education market is exceedingly delivering positive outcomes while bridging the gaps between learning and teaching. E-learning platforms infused with virtual and augmented reality technologies have contributed heavily to the market growth. The learning platform and virtual facilitators application held 55% of the total revenue in 2017. These applications have provided effective support to learning and knowledge transfer outside the classrooms, across all grades and socio-economic levels, minimizing the dependency of students on parents and teachers who can only be available for limited periods of time.

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The Israel-based behavior analytics market player, Fortscale Security Ltd., has recently raised close to USD 7 million in its most recent funding round, primarily led by the Valor Capital Group and Evolution Equity Partners, and supported by Swarth, UST Global, Intel Capital, CME ventures, and Blumberg Capital. The totally accumulated capital of around USD 23 million apparently would help Fortscale further scale up its behavioral analytics platform.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Amazon Web Services
2. Blackboard Inc.
3. Blippar
4. Century Tech Limited
5. Cerevrum Inc.
6. CheckiO
7. Pearson PLC
8. Volley.com
9. TrueshelfInc.
10. Sofia Labs LLC
11. Querium Corporation
12. Knewton Inc.
13. Cognii Inc.
14. Elemental Path

Higher education sector to retain top position across the end-use segment of AI in education market Evidently, the integration of AI in teaching methodologies of the institutes imparting higher education has facilitated implementation of a more rigorous and enhanced academic standards in the recent years. The complex and intricate tasks such as counselling career path options to students, administrative management, formulating personalized learning frameworks, and provisioning of smart classrooms has been made easier with the aid of AI.

With an aim to enhance the affordability and quality of education for all, it has been observed that several leading firms partaking in AI in education market have been collaborating with schools, educational content publishers, universities, and online training platforms in the past few years. The recent partnership effected between Colorado State University (CSU) and Cognii Inc. is a significant instance that aptly depicts the transformation being brought about by AI in education industry across the global learning scenario. Regarded as one of the foremost public research university in the U.S., the faculty at CSU would work hand in hand with Cognii to build a new learning and assessment experience by deploying the Virtual Learning Assistant (VLA) technology.

Elaborating further, the VLA technology of Cognii utilizes Natural Language Processing and conversational AI technologies to engage students through a smart tutoring system. It further assesses open response answers of the students with a qualitative natural language feedback that trains them to attain conceptual expertise. It is quite imperative to mention that the VLA has been predominantly formulated to enhance the learning outcomes and knowledge retention abilities of the students, facilitate high-quality personalized education at a wider scale, and improve the productivity of instructors.

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