Dublin, Nov. 18, 2024 (GLOBE NEWSWIRE) — The “Artificial Intelligence in Education Market – Forecasts from 2024 to 2029” report has been added to ResearchAndMarkets.com’s offering.
Artificial intelligence in the education market is worth US$10.248 billion in 2024. It is projected to exhibit a remarkable CAGR of 33.51%, reaching a market value of US$43.467 billion by 2029.
AI-based solutions and services have various applications in education. These range from delivering knowledge to customizing learning experiences for each student based on their performance. Additionally, AI can be used to strategically deploy adaptive tutorial systems, improving learning solutions and adding better value for both educators and students in the education domain. AI mostly works on deep learning, machine learning, and analytics. Moreover, these solutions provide an interactive learning experience for every learner, guarantee the quality of education, and support learners in advancing their current knowledge and skills.
The market for AI in education is highly fragmented, with most industry players leading with innovations. Key players are expanding their presence in regional and global markets and adopting all strategies to acquire a large portion of the market. These market players include IBM, Microsoft, and Google, among others.
The rise of digital technology, marked by the use of smart devices and digitization across all verticals, is a fundamental driver for this diversification in AI-based education. Furthermore, AI solutions provide individualized learning experiences to meet the requirements of each user. They anticipate students’ paths, proffer learning trajectories, pinpoint weaknesses, and leave learners to evaluate their areas in need of improvement. This helps in augmenting student capabilities, which are expected to foster AI in the education market’s growth over the forecast period.
ARTIFICIAL INTELLIGENCE IN EDUCATION MARKETDRIVERS:
Increasing investment in AI is anticipated to drive the growth of global AI in the education market.
AI-based Learning platforms are directly related to the investment in AI in the education sector. Its investment helps make education much more advanced and personalized, which is necessary with increasingly effective individualism in learning. AI is changing the way people learn using AI-driven learning platforms. The AI-driven educational platforms will start to remake education, create lifelong learning possibilities, and prove to be the positive growing potential of AI in education.
These efforts include increasing the commitments by countries to bolster the future AI workforce, consistent with a report from Niti Aayog National Strategy for Artificial Intelligence. For example, the UK has set a target to deliver more than 1,000 government-supported PhD researchers by 2025andhasannounced Turing fellowships for early AI researchers. China, meanwhile, initiated a university project in April 2018 that ran for five years and educated at least 500 teachers and 5,000 students on AI tech. Further, national governments and corporations are realizing how important AI is and actively investing in its potential.
Artificial Intelligence In Education Market Geographical Outlook:
The North American region is expected to hold a significant artificial intelligence in education market share.
The demand for artificial intelligence in the education market in the North American region is driven by increased investments in AI and EdTech by the public and commercial sectors, along with high edutainment penetration. Further, technological innovation also contributes to promoting the demand for AI in education worldwide. The application of AI in education increases the learning standard for academics and instructors. It offers better accessibility, coaching, automatic grading and administration, and ease of process, amongst other benefits.
Moreover, countries in North America, especially the United States, are increasingly utilizing smart content in schools and educational institutions due to its capability to give insights about learning platforms, which are vital for the teaching sector. The demand for AI-supported, personalized education solutions further accentuates this growth. These solutions assist in understanding students more profoundly, their interests, educational background, and future academic goals, which makes them unable to provide personalized services.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 117 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $10.25 billion |
| Forecasted Market Value (USD) by 2029 | $43.47 billion |
| Compound Annual Growth Rate | 33.5% |
| Regions Covered | Global |
Report Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments)
Some of the key companies profiled in this Artificial Intelligence in Education Market report include:
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- NVIDIA Corporation
- People.ai Inc
- Cisco Systems
- Verint Systems
- Salesforce
- Siemens AG
Market Segmentation:
The Artificial Intelligence In Education market is segmented and analyzed as below:
By Technology
- Deep Learning
- Machine Learning
- Natural Language Processing
- Computer Vision
By Deployment
By Solution
By End-User
- Automotives
- Communications
- Manufacturing
- Healthcare
- Others
By Geography
- North America
- South America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/2ph07y
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- Artificial Intelligence in Education Market
