AI In Education Global Market Report 2024

Artificial intelligence (AI) in education involves the application of AI technologies within the classroom and educational administration to enhance teaching and learning practices and address educational challenges. The primary objective of incorporating artificial intelligence in education is to improve student learning outcomes while automating administrative tasks that traditionally require significant time from teachers and administrators.

The main components of artificial intelligence (AI) in education are categorized into solutions and services. AI solution components utilize artificial intelligence to automate, assist, or customize processes by making predictions based on the user's context or needs. These solutions leverage technologies such as natural language processing (NLP) and machine learning. They can be deployed in both cloud and on-premises infrastructure. AI in education is applied across various applications, including learning platforms and virtual facilitators, intelligent tutoring systems (ITS), smart content, fraud and risk management, among others. These solutions find application in different educational settings, such as K-12 education, higher education, corporate training, and learning.

The artificial intelligence (AI) in education market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence (AI) in education market statistics, including artificial intelligence (AI) in education industry global market size, regional shares, competitors with artificial intelligence (AI) in education market share, detailed artificial intelligence (AI) in education market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) in education industry. This artificial intelligence (AI) in education market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The ai in education market size has grown exponentially in recent years. It will grow from $3.99 billion in 2023 to $5.57 billion in 2024 at a compound annual growth rate (CAGR) of 39.7%. The growth observed in the historical period in the realm of artificial intelligence in education can be attributed to several factors. These include the widespread adoption of digital learning platforms, initiatives promoting personalized learning, the implementation of adaptive learning systems, the utilization of big data and analytics in education, and the early integration of AI tutoring systems. These factors collectively contributed to the advancement and expansion of AI applications in the field of education during the specified historical timeframe.

The ai in education market size is expected to see exponential growth in the next few years. It will grow to $21.13 billion in 2028 at a compound annual growth rate (CAGR) of 39.6%. The anticipated growth in the forecast period for artificial intelligence in education can be attributed to various factors. These include the continued emphasis on remote and hybrid learning models, the rise of AI-enabled assessment tools, increasing investments in educational technology (EdTech), the development of teacher support systems, and the ongoing integration of artificial intelligence in education. Key trends expected during this period encompass the adoption of AI-powered learning analytics, the utilization of augmented reality (AR) and virtual reality (VR) in education, the emphasis on ethical AI practices in education, the enhancement of language learning through AI, and the incorporation of gamification strategies alongside artificial intelligence in educational settings.

The expanding user base of smartphones is anticipated to be a driving force behind the growth of artificial intelligence (AI) in the education sector. Smartphone users access multifunctional cellular devices equipped with computing capabilities, a web browser, an operating system, and the capacity to run various software programs. Leveraging AI technology within educational applications and platforms tailors learning experiences to suit individual needs. Moreover, smartphones facilitate real-time interaction and engagement, enabling seamless communication between students and AI-powered virtual assistants (tutors). The widespread adoption of smartphones amplifies the reach and impact of AI in education, fostering accessible and personalized learning experiences for a broader population. For instance, as per the Ericsson Mobility Report 2022 by Ericsson, a networking and telecommunications company based in Sweden, smartphone subscriptions reached 6,420 million in 2022 and are projected to grow to 7,740 million subscriptions by 2028. Thus, the rising number of smartphone users is set to propel the AI in education market.

The escalating uptake of online education is poised to fuel the expansion of artificial intelligence (AI) in the education sector. Online education, synonymous with e-learning or virtual learning, involves delivering educational content and instruction through the internet or digital technologies. Integrating AI technologies into online learning platforms enhances the overall educational experience. For instance, in 2021, as revealed in a survey published by the University Professional and Continuing Education Association, a UK-based online and professional education association, 51% of faculty members in the U.S. expressed increased confidence in online education compared to pre-pandemic levels. Consequently, the growing adoption of online education is expected to drive the AI in education market.

Product innovation emerges as a pivotal trend driving market traction in the realm of artificial intelligence (AI) within the education sector. Major industry players are intensively focused on pioneering advanced solutions to fortify their market presence. For instance, in February 2023, Nerdy Inc., a US-based platform for live online learning, introduced two groundbreaking products such as an AI-Generated Lesson Plan Creator and AI-Generated Chat Tutoring, both seamlessly integrated with ChatGPT across its suite of offerings. Leveraging ChatGPT, an AI chatbot employing natural language processing for human-such as conversational dialogue, the AI-generated lesson plan creator generates diverse content for experts, providing comprehensive suggestions on structuring lessons and maximizing content utilization. Simultaneously, AI-enabled chat tutoring delivers real-time support to consumer learning membership customers 24x7, delivering prompt and accurate responses to student queries.

Strategic partnerships represent a prominent trend gaining traction within the AI in education sector. Major market players are actively forging alliances to fortify their market positions. For instance, in July 2021, The Central Board of Secondary Education (CBSE), a national-level education board in India, collaborated with Intel Corporation, a US-based technology company, to launch the AI learning platform named AI Students Community (AISC). This collaboration aims to unite students from both CBSE and non-CBSE schools, enabling them to learn from Intel's AI-certified experts, fostering a collaborative learning environment.

In September 2021, Pearson Education Limited, a prominent UK-based education publishing and assessment service provider, successfully acquired Faethm Pty Ltd. for $75.1 million. This strategic acquisition aims to leverage Faethm's analytics capabilities in conjunction with Pearson's learning solutions. The integration of Faethm's workforce AI and predictive analytics platform, delivered through Software as a Service (SaaS), is expected to assist businesses of all sizes in understanding their required skills and developing them. This acquisition aligns with Pearson's overarching strategy to support learners in developing their skills at every stage, spanning from school to the professional realm. Faethm Pty Ltd., the acquired company, is based in Australia and specializes in providing a SaaS platform for professional short-course curricula based on workforce AI and predictive analytics.

Major companies operating in the ai in education market report are Alphabet Inc., Microsoft Corporation, Amazon Web Services Inc., IBM Corporation, Cognizant Technology Solutions Corporation, Harbinger Group, Pearson plc, Nuance Communications Inc., McGraw Hill Education Inc., Blackboard Inc., Coursera Inc., Duolingo Inc., D2L Corporation, Age of Learning Inc., Jenzabar Inc., Netex Knowledge Factory S.A., Carnegie Learning Inc., DreamBox Learning Inc., Third Space Learning, Kadenze Inc., Knewton Inc., BridgeU Ltd., Century-Tech Limited, Cognii Inc., Fishtree Ltd., Prazas Learning Inc., Wooclap SA, YiXue Squirrel AI Learning Inc., Jellynote, Querium Corporation

North America was the largest region in the artificial intelligence (AI) in education market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai in education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the ai in education market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The artificial intelligence (AI) in education market includes revenues earned by providing personalized learning, administrative tasks, tutoring, learning management systems, grading, and assessment. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in the education market also includes sales of smart boards, tablets, voice-controlled assistants, sensors, cameras, virtual reality (VR), and augmented reality (AR) devices which are used in providing AI in education services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

AI In Education Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on ai in education market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for ai in education ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ai in education market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Component: Solutions; Services
• 2) By Technology: Natural Language Processing (NLP); Machine Learning
• 3) By Deployment: Cloud; On-Premises
• 4) By Application: Learning Platform And Virtual Facilitators; Intelligent Tutoring System (ITS); Smart Content; Fraud And Risk Management; Other Applications
• 5) By End-User: K-12 Education; Higher Education; Corporate Training And Learning
• Companies Mentioned: Alphabet Inc.; Microsoft Corporation; Amazon Web Services Inc.; IBM Corporation; Cognizant Technology Solutions Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.