Trending News: AI in Education Market Size, Share, Trends, Growth, Analysis, Research
Global AI in Education Market: Key Highlights
- According to the new market research report “AI in Education Market by Deployment (Cloud and On-premise), By Component (Solution and Services), by Model (Domain Model, Pedagogical Model, and Student Model), by Technology (Machine Learning, Natural Language Processing (NLP) and Deep Learning), Application (Smart Content, Intelligent Tutoring Systems, Virtual Facilitators, Chat Campus, Personalized learning and Others), End-User( Education Institutes, Corporates, and Universities), by Region (North America, Asia Pacific, Europe, Middle East, and Africa, South America) — Global Forecast (2019 to 2027)”, the global AI in Education Market is estimated to reach USD 4.7 Billion by 2027 at a CAGR of around 45.9% during the review period.
- Rising smart content demand for digitized textbooks to a customized interface will improve the performance of the user with an easier way, which will increase the demand for the market.
- However, lack of awareness is a major issue for AI in the education market in the forecast period.
Global AI in Education Market: Key Market Dynamics
- The increasing demand for robots will help to enhance the features and techniques which will lead to an increase the market growth.
- High-cost issues are one of the major restraining factors which may hinder the market growth in the forecast period.
- The adoption of an e-learning platform which helps the student to explore the topics in-depth and solve the complex problems which are projected to enhanced market growth.
- Growing Adoption for Chatbot can help to respond to the user’s unique personality and concerns which will help to increase the adoption of AI in the education market in the forecast period.
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Global AI in Education Market: Regional Overview
According to the Economic and Social Commission for Asia and the Pacific (ESCAP), the government in the Asia-Pacific region has taking incentives for developing and implementing innovative policies for the AI development in the region. In 2017, China has launched the next-generation Artificial Intelligence development plan which includes research and development, industries, education, and talent development. According to the International Institute of communication, China AI industry has valued USD 3.5 billion by 67% in the same year.
Hence, the growing adoption and demand for artificial intelligence in the region will lead to enhance the market demand in the forecast period.
According to the European Commission, the region is one of the leading edge in Artificial Intelligence (AI) and robotics market. In 2017, the European Commission and 1200 start-up in the region have aims to enhance the public and private investment in Artificial Intelligence in the European Union (EU) to be USD 23.6 Billion by the end of 2020. Also under the research and innovation program Horizon 2020, the commission has increased its annual investment in AI by 70%.
Therefore, the investment and growing demand for artificial intelligence and new emerging technologies in the region will be projected to lead the demand for the market in the forecast period.
Global AI in Education Market: Key Players Overview
Microsoft is a multinational technology company that develops, manufactures, licenses, support and sells computer software. The company is the leading developer of personal computer software systems and applications. In education, AI is transforming and enhancing the learning experience by accelerating, innovation across the institutes. Moreover, in 2019 The Central Board of Secondary Education (CBSE) has announced that it will conduct a capacity building program for teachers in association with Microsoft India which will be focused to integrate cloud-powered technology in K12 teaching.
Pearson is a world-leading company, where the product and services are being used in millions of teachers and learners globally. It is a British owned publishing and assessment service to schools and corporations. The company is improving the artificial intelligence and personalized learning also help people make progress in their lives through learning. In 2019, Pearson announced the launch of Aida Calculus which was the first AI application for the students.
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