Artificial Intelligence in Education Market 2019 Emerging Technologies, Global Trends, Segments, Competitive Landscape and Growth by Forecast to 2023
Global Artificial Intelligence in Education Market is expected to reach an approximate market value of USD 2 billion by 2023 growing at a 38% CAGR during the forecast period 2018–2023
Pune, India – June 11, 2019 /MarketersMedia/ —
Artificial Intelligence in Education Market Synopsis
As per a detailed analysis by Market Research Future (MRFR), the global artificial intelligence in education market is anticipated to garner USD 2 billion, registering a CAGR of 38% during the forecast period (2018-2023). The surging adoption of automation technology across the globe is contributing to the growth of the market.
Artificial Intelligence (AI) offer machines with intelligent capabilities like processing, learning, speech recognition, identifying data patterns, and others. AI is tremendously benefiting the education sector with attributes like student engagement, personalized learning, and additional educational support and assessment.
Artificial Intelligence in Education Market sector is in the primitive stage and is anticipated to experience growth prospects in the coming years.
Competitive Dashboard:
The prominent players operating in the global artificial intelligence in education market comprises Microsoft Corporation (US), IBM Corporation (US), Amazon.com, Inc., (US), Google (US), Pearson (UK), Cognizant (US), DreamBox Learning (US), Bridge-U (UK), Jellynote (France), Fishtree (US), Knewton, Inc., (US), Jenzabar, Inc., (US), Querium Corporation. (US), Metacog, Inc., (US), Blackboard, Inc., (US), Century-Tech Ltd (UK), Quantum Adaptive Learning, LLC (US), and Third Space Learning (UK).
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Market Potential and Pitfalls:
With the help of technologies like natural learning and machine learning, artificial intelligence in the education sector helps to monitor a student’s capability and also enhances the learning process. AI focuses on individual monitoring and learning and also assists the students in understanding the topic in depth. It offers customized and interactive software tools which are integrated with virtual and augmented reality deployed on tablets, smartphones, and wearable devices for students. The digital interactive content helps to catalyze a student’s learning process.
This is considered to contribute to the growth of the market across the globe. Artificial intelligence in education also helps to minimize the time required for administrative tasks like admissions and grading. It also helps the institutions to provide equal focus to their students and also plan the lessons as required. The use of AI in education also offers behavior management and helps to understand the behavior pattern with the help of face recognition. Such factors are likely to contribute to the market growth in the coming years. Education institutes across the globe are extensively adopting cloud services to improve the overall experience and productivity, thereby propelling the growth of AI in education. The use of cloud services helps to minimize the cost of ownership for educational institutes, which helps to invest in support and maintenance of the infrastructural developments. Cloud computing also enables the universities and schools to upgrade their infrastructure with advanced technologies without any increase in the capital cost. Such factors are assumed to dictate the growth trajectory of the market.
On the contrary, the lack of technical expertise owing to the complex algorithms along with the integration of AI-based solutions is some of the top concerns likely to vitiate the growth of the market in the foreseeable future.
Artificial Intelligence in Education Market Segmental Analysis:
The global artificial intelligence in the education market has been segmented on the basis of components, deployment, application, and technology.
By mode of deployment, the artificial intelligence in education market is segmented into on-premise and on-cloud. Among these, the on-premise segment is estimated to occupy a major share. The requirement to reduce operating costs and high capital requirements are the top factors likely to trigger the demand for on-premise deployment.
Based on component, the artificial intelligence in education market constitutes of software and services. Among these, the services segment is considered to occupy a significant share during the review period.
The technology segment comprises machine learning and natural learning process (NLP). Among these, the NLP technology is likely to gain prominence as it helps to synthesize students’ data to find out the final output.
Intelligent tutoring systems, content delivery systems, virtual facilitators, chatbot’s, and interactive websites comprise the application segment of artificial intelligence in the education market.
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Regional Frontiers:
Considering the global scenario, the artificial intelligence in education market is dominated by the North American region due to the early adoption of advanced technologies like machine learning, artificial intelligence, digital learning, and others. North America has always been a leading region in advancing technologies and innovations due to high investment in R&D activities in the field of AI technology.
The Asia Pacific region is expanding at a significant rate due to the presence of economies like China, South Korea, and India. The growing initiatives to support automation, digitalization, and surging adoption of cloud-based services in these economies are likely to impact the market growth in this region positively.
Industry Updates:
May 2, 2019: A national artificial intelligence textbook has been recently released in order to promote AI to the students of primary school and younger groups. The textbook will enable the younger generation to have a better understanding of AI and also establish an eco-system for AI education and other AI applications.
Intended Audience:
• Education Institutions
• Software Service Providers
• Organizations, Firms, Enterprises
• Government Bodies and Departments
• Management Universities
• Managed Service Providers
• Professional Service Providers
• Software Developers
• Educational Publishers
• Chanel Partners
• Third-Party providers
• Market Research and Consulting Firms
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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List of Tables
Table1 Global Ai In Education Market, By Country, 2018–2023
Table2 North America: Ai In Education Market, By Country, 2018–2023
Table3 Europe: Ai In Education Market: By Country, 2018–2023
Continued….
List of Figures
Figure 1 Global Ai In Education Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Ai In Education Market
Continued….
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
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Organization: Market Research Future
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Website: https://www.marketresearchfuture.com/reports/artificial-intelligence-education-market-6365
Source: MarketersMedia
Release ID: 522637
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