The Artificial Intelligence in Education market is estimated at US$2.022 billion for the year 2019. The growing adoption of artificial intelligence in the education sector due to the ability of these solutions to enhance the learning experience is one of the key factors which is anticipated to propel its adoption across the globe for education purposes. The proliferation of smart devices and the rapidly growing trend for digitalization across numerous sectors is also propelling the demand for artificial intelligence solutions in the education sector. Artificial intelligence majorly uses deep learning, machine learning, and advanced analytics especially for monitoring the learning process of the learner such as the marks obtained and speed of a particular individual among others. Also, these solutions offer a personalized learning experience and high-quality education and also helps the learners to enhance pre-existing knowledge and learning.
The growth of the market is also anticipated to be driven by the growth in the use of multilingual translators which are integrated with AI technology. Furthermore, the artificial intelligence solutions also give customizable learning experience depending on the requirements of the end-user, student path prediction, suggestion of learning path, identification of weakness, and also help the learners to analyze their areas for improvement and help them to improve their capabilities. However, the less availability of skilled workforce, high investment costs coupled with the growth in the risk of data security on account of a surge in the number of cyber-attacks is one of the major factors which is anticipated to hamper the growth of the artificial intelligence in the education market. The integration of AI-empowered educational games is also projected to boost the adoption of these solutions across the K-12 education segment, as the learning for the students become highly interactive and further helps the teachers also to uplift the learning experience of the students. In addition, the integration of AI in the education sector has revolutionized the overall learning experience across all the learning areas through its result-driven approach.
Furthermore, the use of artificial intelligence in education can also be used for automating the basic activities in the education sector which includes grading and assessment purpose among others. This, in turn, leads to saving the teachers time to stay more focused on the quality of education of the professional development of the students. The use of these solutions enables the learners to attain the ultimate academic success through the help of smart content. The global artificial intelligence in the education market has been segmented on the basis of offering, technology, end-use, and geography. On the basis of offering the market has been classified into solutions and services. By technology, the market has been segmented into deep learning, machine learning, and natural language processing. By end-user, the segmentation has been done on the basis of academic learning and corporate learning.
Services are projected to show good growth opportunities
By offering, the market has been segmented into solutions and services. The services segment is estimated to show decent growth opportunities during the forecast period and beyond on account of the rising awareness among education providers regarding the adoption of AI technology for providing high-quality education. Furthermore, the growing trend of professional training services is also leading to the high adoption of AI-powered solutions for corporate learning purposes which also supports the growth of this segment during the next five years.
Corporate learning expected to grow substantially over the forecast period
The corporate learning segment is anticipated to show decent growth over the forecast period on account of the growing adoption of these solutions by corporate companies in order to enhance the skills of their employees with an aim to meet the growing competition. Thus, to enhance the skills of the employees, key players investing heavily to develop new platforms and courses so as to attract big companies and expand their competitive edge in the market. Furthermore, big giants at the global level are adopting AI solutions for corporate learning to equip the global workforce with the skills and knowledge to succeed in the rapidly changing economy further shows the growth potential of artificial intelligence in the education market for the corporate learning segment.
The academic learning segment is projected to hold a decent share in the market owing to the high adoption of these solutions across the school level for enhancing the education quality and for building the careers of the students. Also, the use of AI techniques for learning purposes helps the students to focus more on self-development.
North America expected to hold a substantial market share
Geographically, the global market has been segmented into North America, South America, Europe, Middle East and Africa and the Asia Pacific. North America is projected to hold a noteworthy share in the market on account of well-established infrastructure and early adoption of technology. Furthermore, the presence of a state-of-art education system also bolsters the growth of the market in the North American region. The Asia Pacific region is projected to show robust growth over the next five years on account of the rising adoption of AI-based solutions across the major developing countries such as China and Indonesia among others. The education system in China is one of the most reputed systems across the globe, on the other hand, it is also the most challenging and competitive one. Moreover, India has one of the largest education sectors in the world. Thus, the presence of well-established education systems of the country is expected to supplement the growth of the market during the next five years.
Prominent key market players in the artificial intelligence in education market include IBM Corporation, Cognizant, Google LLC, Microsoft Corporation, and Amazon Web Services among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.
Major players in the artificial intelligence in education market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.