What are Major Factors Driving Growth of Deep Learning Market?

The increasing focus of the education sector on conversational learning, owing to the rapid adoption of e-learning and digital solutions, is facilitating the deployment of artificial intelligence (AI) technology in this sector. In conversational learning content is presented as a two-way conversation, owing to which the learning process becomes more interactive, customized, and interesting for students. To transform the learning process through AI, educators are increasingly deploying chatbots, as they can be programmed as per the requirements of the learner.

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Additionally, the surging need for automating administrative tasks will is expected to drive the AI in education market at an exceptional CAGR of 32.9% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $1.1 billion in 2019, and it will reach $25.7 billion by 2030. Educators usually spend a lot of time grading exams, assessing homework, enrolling students, and defining policies. To reduce time consumption and dedicate their crucial time to teaching, academic institutes are deploying AI solutions to perform such administrative activities.

Globally, the North American AI in education market generated the highest revenue during the historical period (2014–2019), and it will continue this trend throughout the forecast period. This dominance can be credited to the existence of a highly developed educational infrastructure and numerous market players in the region. Moreover, the growing dependence of students on laptops, tablets, and smartphones to access course materials and teaching programs and surging expenditure on EdTech and AI technologies will also augment the market growth in the region.

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Furthermore, the Asia-Pacific (APAC) region is expected to witness a massive rise in the integration of the AI technology in the education sector in the upcoming years. This will be due to ongoing transformation in the education sector, mounting investments being made in EdTech in India and China, and the soaring popularity of smart learning concepts. Due to these developments in the education sector, several startups in the region are focusing on the introduction of interactive learning platforms for the APAC populace.

Therefore, the increasing preference for conversational learning and the rising need to automate administrative tasks will encourage the deployment of AI solutions in the education sector.

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This release was published on openPR.