IMARC Group, a leading market research company, has recently releases report titled, “AI in Education Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global AI in education market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the AI in education market?
The global AI in education market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.9 Billion by 2028, exhibiting a growth rate (CAGR) of 40.70% during 2023-2028.
What is AI in education?
Artificial Intelligence (AI) in education refers to using advanced technologies that mimic human intelligence to enhance learning processes, adapt instruction, and provide personalized experiences. AI in education offers personalized learning by analyzing individual students’ strengths, weaknesses, and learning styles. AI algorithms can customize educational content to meet each student’s specific needs, which fosters better engagement and comprehension, ultimately improving learning outcomes. It offers intelligent assessment tools to evaluate student performance more accurately and provide timely feedback to students and educators, which aids in identifying areas that require more attention, enabling targeted interventions for enhanced understanding. It also contributes to administrative tasks within educational institutions with automated administrative processes, such as enrollment, scheduling, record-keeping, streamlining operations, and allowing educators to focus more on teaching. Additionally, AI-driven predictive analytics assist in identifying students at risk of dropping out, enabling institutions to offer timely support.
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What are the growth prospects and trends in the AI in education industry?
AI in education is primarily driven by the integration of artificial intelligence (AI) in the education sector. In addition, the widespread adoption of AI in education enhances the learning process through personalized education, thus influencing market growth. AI-powered educational tools can analyze students’ learning patterns and preferences, allowing educators to tailor content and pace to individual needs. This personalization improves student engagement and leads to better comprehension and retention of the material. Moreover, educational institutions generate an immense volume of data related to student performance, attendance, and behavior, representing another major growth-inducing factor. AI algorithms can shift through this data to identify patterns and trends that might go unnoticed. This data-driven approach enables educators to make informed decisions, implement timely interventions, and develop strategies for improving learning outcomes with AI’s ability to process and analyze vast amounts of data. Besides this, the advent of AI-powered virtual assistants and chatbots is transforming administrative processes in educational institutions, thus accelerating market growth. These AI tools can handle routine administrative tasks such as answering inquiries, providing information about courses, and assisting with enrollment procedures which reduces the administrative burden on staff and ensures students receive prompt and accurate responses to their queries, contributing to a positive overall experience. Along with this, the integration of AI into education requires significant investment in terms of financial resources and training, where educators need to be adequately trained to effectively use AI tools and interpret the insights generated, thus propelling the market growth. Furthermore, AI-driven assessment tools can evaluate student responses more holistically, considering factors such as critical thinking, problem-solving, and creativity, thus creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Solutions
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Technology:
- Deep Learning and Machine Learning
- Natural Language Processing (NLP)
Breakup by Application:
- Virtual Facilitators and Learning Environments
- Intelligent Tutoring Systems (ITS)
- Content Delivery Systems
- Fraud and Risk Management
- Student-initiated learning
- Others
Breakup by End User:
- K-12 Education
- Higher Education
- Corporate Training and Learning
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Blackboard Inc.
- Cognii Inc.
- eGain Corporation
- Google LLC (Alphabet Inc.)
- International Business Machines Corporation
- Microsoft Corporation
- QlikTech International AB
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