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.
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.
In recent years, the education sector has preferred natural language processing (NLP) over other AI technologies, such as image processing, machine learning, video recognition, and cognitive computing, due to the burgeoning demand for a natural language conversational experience among learners and educators. NLP assists students in writing assignments and teachers in assessing and analyzing as it aids in processing text and speech in an electronic format from discussions and chats on learning portals.
The application segment of the AI in education market is classified into virtual facilitators, learning platforms, intelligent tutoring systems, content delivery systems, and others, such as chatbots and interactive websites. Among these, the learning platforms category accounted for the largest market share in 2019, due to the rising preference for distance and online education courses by students and working professionals, increasing adoption of advanced technologies in the education sector, and surging popularity of the trend of self-learning through online platforms.
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.
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.
According to research report "AI in Education Market by Technology (Deep Learning and ML, NLP), Application (Virtual Facilitators and Learning Environments, ITS, CDS, Fraud and Risk Management), Component (Solutions, Services), Deployment, End-User, and Region - Global Forecast to 2023", MarketsandMarkets forecasts the global Artificial Intelligence (AI) in education market to grow from USD 537.3 Million in 2018 to USD 3,683.5 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 47.0% during the forecast period.The AI technology is playing a crucial role in enhancing and improving teachers’ and students’ knowledge.
Additionally, the increasing adoption of the AI technology for various applications in the education sector and growing need for multilingual translators integrated with the AI technology are expected to drive the growth of the AI in education market.Browse and in-depth TOC on "AI in Education Market - Global Forecast to 2023"84 - Tables 55 - Figures 151 – PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200371366The Natural Language Processing (NLP) technology segment is expected to grow at a higher CAGR during the forecast period.In the education sector, the Natural Language Processing (NLP) technology is playing a crucial role to synthesize the educational data for generating the final output.
As a result, the use of the NLP technology in educational applications is growing at a rapid pace.
This technology helps in analyzing large volumes of data generated by education software.The cloud deployment mode is expected to have the larger market size during the forecast period.On the basis of deployment modes, the AI in education market is classified into cloud and on-premises.
Among deployment modes, the cloud deployment mode is expected to have the larger market size during the forecast period.
The adoption of the cloud deployment mode is growing, due to various reasons such as cost-effectiveness, the ease of deployment, and reduced operational cost.The educational institutes end-user segment is expected to have the largest market size during the forecast period.The AI technology is a leading trend in the education sector, as it can be easily integrated with educational systems for a better learning experience.
According to research report "AI in Education Market by Technology (Deep Learning and ML, NLP), Application (Virtual Facilitators and Learning Environments, ITS, CDS, Fraud and Risk Management), Component (Solutions, Services), Deployment, End-User, and Region - Global Forecast to 2023", MarketsandMarkets forecasts the global Artificial Intelligence (AI) in education market to grow from USD 537.3 Million in 2018 to USD 3,683.5 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 47.0% during the forecast period.
Additionally, the increasing adoption of the AI technology for various applications in the education sector and growing need for multilingual translators integrated with the AI technology are expected to drive the growth of the AI in education market.
Download PDF Brochure: https://www.marketsandmarkets.com/Market-Reports/ai-in-education-market-200371366.html Browse 84 market data Tables and 55 Figures spread through 151 Pages and in-depth TOC on "AI in Education Market - Global Forecast to 2023"The Natural Language Processing (NLP) technology segment is expected to grow at a higher CAGR during the forecast period.In the education sector, the Natural Language Processing (NLP) technology is playing a crucial role to synthesize the educational data for generating the final output.
This technology helps in analyzing large volumes of data generated by education software.The cloud deployment mode is expected to have the larger market size during the forecast period.On the basis of deployment modes, the AI in education market is classified into cloud and on-premises.
Moreover, governments in this region are also investing in AI-powered technologies to enhance the quality of education delivered to students.The AI in education market report encompasses the competitive landscape and company profiles of the key vendors based on their product offerings and business strategies.
Major AI in education vendors include IBM (US), Microsoft (US), Bridge-U (UK), DreamBox Learning (US), Fishtree (US), Jellynote (France), Jenzabar (US), Knewton (US), Metacog (US), Querium Corporation (US), Google (US), AWS (US), Cognizant (US), Carnegie Learning (US), Century-Tech (UK), Cognii (US), Elemental Path (US), Liulishuo (China), Nuance Communications (US), Osmo (US), Pearson (UK), Third Space Learning (UK), Quantum Adaptive Learning (US), ALEKS (US), and Blackboard (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
