AI in Education Market Size, Trends, Latest Insights, Analysis and Forecast 2024-2031

Artificial intelligence (AI) in the education market is anticipated to grow at a significant CAGR of 16.6% during the forecast period (2024-2031). The market growth is attributed to the growing investments made by both public and commercial sectors in EdTech and AI. The growing popularity of edutainment with the advancement in technology such as natural language processing (NLP) deep learning and machine learning globally, further aids the market growth. The machine-learning systems and algorithms are highly integrated with personalized learning systems, automated assessments, facial recognition systems, chatbots (social media sites), and predictive analytics tools to enhance the education level of students. According to the Artificial Intelligence Index Report 2022, the number of new AI PhDs who went abroad upon graduation increased from 19 in 2019 to 32 in 2020 which depicts the high demand for AI in education sector.

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Different service providers are coming up with novel AI-related products or services that link to different learning platforms. Furthermore, there is a growing need for AI in education owing to the growing popularity of online learning for skill development. In response to the growing number of AI-backed industrial applications, EdTech companies have teamed with universities to introduce new training formats for talent in the AI sector that better correspond with the latest industry shifts and development trends.

Recent Development

• In May 2024, The Wharton School of the University of Pennsylvania announced a major investment to drastically scale its research and teaching capabilities in the areas of artificial intelligence and data science. Under the umbrella of the new Wharton AI & Analytics Initiative, the interdisciplinary endeavor encompasses curricular enhancements, investments to advance new research, the collaboration between industry and academia, and open-source resources to help shape the direction of generative AI.

• In May 2024, Microsoft announced the investment of €4 billion ($4.33 billion) in cloud and AI infrastructure, AI skilling, and French Tech acceleration, aiming to train 1 million people and support 2,500 AI start-ups by 2027. Microsoft Corp. and its partners - government institutions, training services partners, non-profit organizations, universities, and higher-education organizations - will launch new training programs focused on building AI fluency for everyone.

• In September 2023, IBM Corp. announced a commitment to train two million learners in AI by the end of 2026, with a focus on underrepresented communities. To achieve this goal at a global scale, IBM is expanding AI education collaborations with universities globally, collaborating with partners to deliver AI training to adult learners, and launching new generative AI coursework through IBM SkillsBuild.

Global AI in Education Market Report Segment

By Component

• Solutions
• Services

By Deployment

• On-Premises
• Cloud

By Technology

• Natural Language Processing (NLP)
• Deep Learning and Machine Learning

By Vertical Industry

• Learning Platform & Virtual Facilitators
• Intelligent Tutoring System (ITS)
• Smart Content
• Fraud and Risk Management
• Educational Diagnosis and Assessment
• Student-Initiated Learning
• Intelligent Computer-Assisted Instruction
• Others (Education Data Management, Job Recommendation, and Training and Development)

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AI in Education Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• ALEKS Corp.
• Amira Learning Inc.
• Avishkaar
• BirdBrain Technologies
• Carnegie Learning, Inc.
• Century-Tech Ltd.
• Codingal
• Cognii, Inc.
• Dreambox Learning, Inc.
• EDBLOX, Inc. (Elevate K-12)
• Guild Education, Inc.
• HowNow

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