Artificial Intelligence Market in the Education Sector to Grow by USD 1,100.07 million from 2022 to 2027 | North America is estimated to account for 43% of the growth of the global market - Technavio
NEW YORK, Nov. 6, 2023 /PRNewswire/ -- The artificial intelligence market in the education sector is estimated to increase by USD 1,100.07 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 41.14% during the forecast period. By geography, the global artificial intelligence market in the education sector is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global artificial intelligence market in the education sector. North America is estimated to account for 43% of the growth of the global market during the forecast period. Factors such as advancement in technology and simultaneous implementation of technology in the education sector are significantly contributing to the global artificial intelligence market in the education sector in North America. Some of the key countries which are significantly contributing to the market growth in North America include the US and Canada, with their increasing implementation of AI in the education sector. Additionally, In the US, there is increasing research on AI by several universities, such as Stanford University and Duke University, which is positively impacting the market. Hence, such factors are expected to drive market growth in the region during the forecast period. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report -Request a sample report
Artificial Intelligence Market In The Education Sector – Vendor Analysis
Vendor Landscape - The global artificial intelligence market in the education sector is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer artificial intelligence in the education sector in the market are 2U Inc., Alphabet Inc., Amazon.com Inc., Brainly, Carnegie Learning Inc., Century Tech Ltd., Cognii Inc., Cognizant Technology Solutions Corp., DreamBox Learning Inc., Fishtree Inc., International Business Machines Corp., Jenzabar Inc., John Wiley and Sons Inc., Kaltura Inc., LAIX Inc., McGraw Hill LLC, Microsoft Corp., n2y LLC, Pearson Plc, and Quantum Adaptive Learning LLC and others.
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Vendor Offerings -
- 2U Inc: The company offers artificial intelligence in the education sector through its subsidiary Querium.
- Alphabet Inc: The company offers artificial intelligence in the education sector such as iSchoolConnect.
- Century Tech Ltd: The company offers artificial intelligence in the education sector such as Century AI.
- For details on the vendor and its offerings – Request a sample report
Artificial Intelligence Market in the Education Sector - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on End-user (Higher education and K-12), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the higher education segment is significant during the forecast period. There is increasing adoption of tools across colleges and universities that enhance the quality of education and ensure that students are offered an experiential learning environment. Hence, in order to offer experiential learning environments, there is an increase in the adoption of AI solutions such as Watson by IBM across universities to automate different administrative tasks at a lower cost and with fewer errors. Furthermore, there is rising adoption of AI virtual assistants that can tutor and guide students as well as teachers. Hence, such factors are expected to drive market growth during the forecast period.
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Artificial Intelligence Market in the Education Sector – Market Dynamics
Leading Drivers -
The increasing emphasis on customized learning paths using AI drives the market growth during the forecast period. There is an increasing focus on ML technologies by teachers in order to collect student data to extract actionable insights into students' performance and thereby make informed decisions. Machine learning is widely used to generate personalized learning pathways for students. ML algorithms collect various student data to assess the academic areas where a student might be facing challenges and assist him/her by offering customized materials and different exercises and lessons to help the student succeed. Additionally, other AI applications utilize deep learning and Natural Language Generation (NLG) to generate and deliver customized content. There is increasing adoption of AI-based content delivery by several companies. hence, such factors are expected to drive market growth during the forecast period.
Key Trends -
The increased emphasis on chatbots is a primary trend in the market during the forecast period. There is a growing popularity for the use of chatbots across schools and universities. Chatbots utilize advanced artificial intelligence, machine learning, and deep learning technologies in addition to storing, processing, and exchanging information with students. There is an increasing adoption of chatbots in schools and colleges as they are able to perform different tasks, such as talking to students and replying to questions. Additionally, it is significantly used for evaluating and correcting assessments made by students. Besides these features, one of the main advantages of chatbots is that it helps to identify the study pattern of each student and assist teachers in providing personalized learning to students. Hence, such factors are expected to drive market growth during the forecast period.
Major challenges -
The high cost of implementation of AI may impede market growth during the forecast period. The implementation and maintenance of AI software across schools and colleges are very expensive. Hence, the installation of such software needs significant funding and investments, and high research on its applicability. Additionally, there is a decline in state and local government funding for such initiatives, which negatively impacts the market. Therefore the high cost of implementation of AI hinders schools from offering students with better learning environments and resources. Furthermore, factors such as high R&D costs related to the development of AI solutions, high capital expenditure, and the risk of product sustainability hinder market growth during the forecast period.
What are the key data covered in this Artificial Intelligence Market In The Education Sector report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the artificial intelligence market in the education sector between 2023 and 2027
- Precise estimation of the artificial intelligence market size in the education sector and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the artificial intelligence market in the education sector across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of the artificial intelligence market vendors in the education sector
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-User
7 Market Segmentation by Learning Method
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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