Press release
Artificial Intelligence in Education Market Opportunity and Forecast, 2021-2028
Integration of the artificial intelligence in education sector creates revolution through its result driven approach. The applications in solving the issues such as language processing, reasoning, planning, and cognitive modeling increases the demand for the AI in the education sector. In another learning approach, AI can help organize and synthesize content to support content delivery.
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The global AI in education market is attributed to rise in inclusion of intelligent adaptive learning (IAL), rapid development of the IT, cumulative collaboration of vendors and institutions, and the leverage of the available device for learning. Budget constraints, high reliability on IT, and sustainability of the product restrains the promising growth of AI in education market. Growth in adoption of AI powered educational games, rise in trend of AI services through mobile devices, implementation of collaborative learning model, and facilitation of the improved course designing activities pose new opportunities in the market.
However, budget limitations, lack of awareness, and less ICT investment in underdeveloped regions, such as Africa and Middle East, limit the AI in Education market growth Moreover, encouragement from government on improving the quality of education and deployment of various software solutions, for instance, enterprise resource planning and learning management system in developed countries such as the U.S. and UK, are expected to offer ample opportunities for market growth.
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The artificial intelligence in education market is segmented on the basis of end user, educational model, component, and geography. Based on end user, it is bifurcated into higher education and K-12. The educational model is further categorized into learner model, pedagogical model, and domain model. On the basis of component, the market is divided into hardware, software, and services. Further, the software segment includes learning management system, enterprise resource planning, and learning analytics, while the services segment includes managed, professional, and training & support services. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key industry players have introduced various novel solutions in the AI in education market to expand their market presence. For instance, Google Inc. recently acquired an AI software company, DeepMind, from a British startup for half a billion dollars. Companies such as Microsoft Corporation plan to build various tools for educating via AI such as Cortana, which was released in May 2015 by Microsoft. Virtual classroom simulation, AI controlled content, and customized curriculum are the various aspects on which the companies are working on.
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Key Benefits for Stakeholders
This report is an extensive analysis of current and potential market trends in the dynamic global market of AI in education sector.
This study evaluating competitive landscape helps understand the competitive environment across the geographies.
The report contains in depth quantitative analysis of current and future market estimations through 2016-2023, which helps in recognizing the appealing market opportunities.
Extensive analysis of the market is conducted by monitoring the top competitors within the market framework.
Extensive analysis of the global AI in education market size elucidates the current practices for better investment decisions.
Key market players within the Artificial Intelligence in education market are profiled in this report and their strategies are analyzed thoroughly, which helps understand competitive outlook of global talent management tools.
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