AI in Education Market to Garner USD 25,772 Million Revenue in 2030, Says P&S Intelligence

NEW YORK, Jan. 12, 2023 /PRNewswire/ -- The AI in education market size was USD 2,126 million in 2022, and it is projected to rise at a 36.6% CAGR from 2022 to 2030, to reach USD 25,772 million in 2030.

The growing investments in AI technology, rising demand for personalized AI-based education, and increasing requirements for automating administrative tasks fuel the industry growth, according to P&S Intelligence.

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Further, the pandemic has fueled digitalization, with the emergence of virtual reality, chatbots, learning management systems, and coursework assigning, in turn, improving educational processes.

Furthermore, several service providers are developing various AI-based solutions and services for academic institutes. For instance, numerous tech companies have partnered with universities and colleges to introduce advanced training modules on AI.

Rising Adoption of Solutions due to Automation of Administrative Tasks

• The solution category had a substantial share, of 77.4%, in 2022, and it is also projected to retain its position in the near future. It is ascribed to the growing demand for AI academic solutions to facilitate educators with automating administrative tasks and exploring opportunities for improving classroom teaching.
• Moreover, the penetration of smartphones, augmentation in internet connectivity, and surge in the count of government initiatives, along with the growing acceptance of digital payments, propel the category.

Increasing Usage of Cloud Platforms due to Reduced Cost

• The cloud category holds the larger share, and it is projected to follow the same trend in the near future. It is ascribed to the rising usage of cloud platforms that support IT modernization and the rising focus on ownership cost reduction.
• Furthermore, AI-powered teaching solutions deployed on cloud provide various benefits, such as the elimination of risks, automated software updation, 24x7 support, cost savings on IT expenditure, and no requirement for internal system updation.
• This technology facilitates learners in extracting any document from any smart device. It also provides access to learners on STEAM programs and saves time, as teachers are not required to update systems on a regular basis.

Rising Popularity of Online and Distance Education Driving Demand for Learning Platforms

Learning platforms have the largest share, and they are projected to retain the same position in the near future. It is attributed to the growing preference for online and distance teaching courses by pupils and professionals.

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North America Leads the Way in Providing AI-Driven Education

North America generated the highest value, of $887 million, and it is projected to retain the position in the years to come. It is ascribed to the advanced educational infrastructure, increasing focus on decreasing the burden of administrative tasks on teachers, and surging EdTech expenditure.

AI in Education Market Report Coverage

By Component

• Solution
• Hardware
• Software tools and platforms
• Service
• Professional
• Managed

By Deployment

• Cloud
• On-Premises

By Technology

• Natural Language Processing (NLP)
• Machine Learning (ML)

By Application

• Content Delivery Systems
• Learning Platforms
• Virtual Facilitators
• Intelligent Tutoring Systems

By End Use

• K–12 Education
• Higher Education
• Academic Research
• Corporate Training

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• South Africa
• U.A.E.
• Saudi Arabia

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence