Artificial Intelligence in Education Market Report 2021 to 2030 Globally Exploring Sales Volume Revenue and Price by Types

In a recent published report, Kenneth Research has updated the market report for Artificial Intelligence in Education Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Artificial Intelligence in Education Market products.

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In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Artificial Intelligence in Education Market over the period 2019-2026.

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

Market Synopsis

Artificial Intelligence (AI) provides machines with intelligent capabilities such as learning, processing, identifying data patterns, speech recognition, and others. AI benefits the education sector with features such as personalized learning, additional educational support and assessment and student engagement. AI in education is still in a primitive stage which is expected to have many more advancements in the forthcoming years.

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Artificial intelligence in the education sector, with the help of technologies such as machine learning and natural learning, assists in monitoring the students’ capability and enhancing the learning process as per the students requirement. AI in education focuses on individual learning and monitoring which helps the students to understand the topic at their own pace. AI offers interactive and customized software tools integrated with augmented and virtual reality deployed on digital devices such as smartphones, tablets and wearable devices for students of all grades. The digital interactive content accelerates a student’s learning and understanding process. Deploying AI for education will enhance the learning environment with a special focus on implementing experimental and analytical learning, helping students to attain a clear understanding of the concept.

AI in education helps to reduce the time required for administrative tasks such as grading and admissions, which can help the institutions in giving equal focus to individual students and plan the lessons accordingly. The use of AI in the education system will bring opportunities for behavior management, which helps in understanding the behavior pattern of students through face recognition capabilities.A major restraint that lies with AI is integration of AI-based solutions and lack of technical expertise due to complex algorithms.

Industry News

In July 2018, IBM Watson Education has collaborated with Edmodo, a subsidiary of NetDragon Websoft Holdings Limited, to design and develop individualized tools and cognitive library services on Edmondo’s existing learning platform with recommendation feature which will help the educators to understand the need of each student and reduce learning gaps.

Segmentation

The market for AI in education has been broadly segmented into deployment, components, technology, and application.By deployment, the market is segmented into on-premise and on-cloud.By component, the market is segmented into software and services.By technology, the market is segmented into machine learning and natural learning process (NLP).

By application, the market is segmented into intelligent tutoring systems, virtual facilitators, content delivery systems, interactive websites, and chatbot’s among others.

Regional analysis

The market for AI in education is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of AI in education market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

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North America is expected to dominate the market owing to early adoption of technologies such as artificial intelligence, machine learning, digital learning, and others. North America has always been leading in innovations and technological advancements, which can be attributable to high investments in research and developments in the field of AI technology.

Asia-Pacific is expected to grow at a significant pace during the forecast period, fuelled by emerging economies like India, China, and South Korea. Due to increasing government initiatives to support digitalization, automation, and growing adoption of cloud-based services in these countries, the market for AI in education in Asia-Pacific is expected to grow with the highest CAGR.The AI 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.

Key players

The prominent players in the market of AI in education are, IBM Corporation (US), Microsoft Corporation (US), Google (US), Amazon.com, Inc., (US), Cognizant (US), Pearson (UK), Bridge-U (UK), DreamBox Learning (US), Fishtree (US), Jellynote (France), Jenzabar, Inc., (US).

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Other players in the market include Knewton, Inc., (US), Metacog, Inc., (US), Querium Corporation. (US), Century-Tech Ltd (UK), Blackboard, Inc., (US), Third Space Learning (UK), Quantum Adaptive Learning, LLC (US).

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

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