Artificial Intelligence in Education Market Size to Reach USD 23.82 Billion, With an 38.00% CAGR by 2030 – Report by Market Research Future (MRFR)
Research Reports
Aug 25, 2023
Market Overview:
The valuation of the Artificial Intelligence in Education Market reached USD 2.5 billion in 2022. This dynamic industry is set to experience substantial growth, with projections indicating a surge from USD 3.45 billion in 2023 to a remarkable USD 23.82 billion by 2030. This upward trajectory is driven by a robust compound annual growth rate (CAGR) of 38.00% forecasted for the period from 2023 to 2030. The increased adoption of AI services by educational institutions, a growing emphasis on the efficient utilization of digital resources, and the widespread digital transformation across the industry collectively serve as pivotal factors propelling the expansion of the AI in education market.
Key Players:
Eminent industry players profiled in the artificial intelligence in education market report include:
- IBM Corporation (US)
- Microsoft Corporation (US)
- Google (US)
- Cognizant (US)
- Pearson (UK)
- Bridge-U (UK)
- DreamBox Learning (US)
- Fishtree (US)
- Jellynote (France)
- Jenzabar Inc. (US)
Click Here to Get Sample Premium Report
Scope of the Report – Artificial Intelligence in Education Market:
|
Report Metrics |
Details |
|
Market Size by 2030 |
USD 23.82 Billion |
|
CAGR during 2023-2030 |
38.00% |
|
Base Year |
2022 |
|
Forecast |
2023-2030 |
Market Segmentation
The worldwide AI in education market is categorized into segments based on its components, deployment methods, technology utilization, and application areas.
In the realm of applications, content delivery systems are poised to take the lead throughout the forecast period.
Regarding technology, machine learning is set to assert its dominance in the market during the forecast period.
When it comes to deployment types, on-cloud solutions are expected to lead the market over the forecast period.
In terms of components, services are projected to hold the largest market share throughout the forecast period.
Buy Now Premium Research Report – Get Comprehensive Market Insights.
Drivers
Increasing Demand for Intelligent Educational Resources Driving Market Expansion
A notable trend shaping the AI in education market is the growing preference for smart educational content. Educational institutions, including schools, are increasingly favoring intelligent materials due to their ability to enhance educators’ understanding of learning platforms, a pivotal component of the teaching process. Smart digital content platforms, which incorporate gamification techniques, are gaining popularity for providing interactive learning resources that create engaging and immersive learning environments. To empower students with opportunities for practice, personalized content solutions, and real-time feedback based on their performance, businesses are placing greater emphasis on the provision of intelligent digital educational content solutions.
Opportunities
Expanding Opportunities Fueled by the Increasing Demand for AI-Driven Personalized Education
The market is witnessing remarkable growth due to the escalating demand for personalized educational solutions powered by AI. These solutions facilitate the creation of tailored learning experiences by leveraging insights into students’ interests, educational backgrounds, and academic goals. Moreover, students can not only receive continuous progress feedback throughout their educational journey but also customize courses to align with their specific learning needs.
COVID-19 Analysis
The COVID-19 outbreak presented a number of challenges for businesses and organizations, including educational institutions like colleges and universities. To stop the virus from spreading, governments all over the world instituted social isolation laws and lockdowns. As a result, all educational levels—from elementary to universities—moved totally towards online learning management system. Around 1,000 million students across the globe will be affected by the closure of HEIs in 185 countries in April 2020, according to UNESCO. The epidemic hastened digitalization in academic institutions, which has positively impacted industry growth. Demand for the online learning systems has increased globally as a result of the COVID-19 epidemic. The COVID-19 outbreak changed how educational institutions functioned and affected the rules guiding how learners interact with teachers and one another. The rising acceptance of online education is preparing the next generation for job online. Both educators & students must adapt, discover new channels of communication, and exploit already-present but underutilized resources. The use of online learning is rising as a result of COVID-19, creating an opportunity to introduce cutting-edge AI tools such as chatbots & text-to-speech in the classroom. AI in education has benefited from the expanding development of the interactive e-learning systems and the COVID-19.
Browse In-depth Market Research Report (100 Pages, Charts, Tables, Figures) Artificial Intelligence in Education Market – https://www.marketresearchfuture.com/reports/artificial-intelligence-education-market-6365
Regional Analysis
North America to Command Artificial Intelligence in Education Market
In the year 2021, North America held a dominant market share of approximately 35.0%, firmly establishing its leadership in the industry. This regional market’s supremacy can be attributed to several factors, including the presence of leading organizations dedicated to developing cutting-edge AI solutions and services, robust technological infrastructure, and a substantial user base actively utilizing educational technology for AI-driven learning. A noteworthy example of this commitment is IBM Corporation’s announcement in October 2021 to skill up 30 million individuals in new competencies through over 170 partnerships with businesses and academia by 2030. This initiative not only aims to bridge the expanding skills gap but also aims to democratize opportunities and equip future generations of workers with the knowledge and skills required to shape a better world.
In 2022, North America recorded impressive sales of $887 million, and this trend is anticipated to continue in the coming years. This enduring success can be attributed to North America’s well-established educational infrastructure, a strong emphasis on alleviating administrative burdens for educators, substantial investments in educational technology, a growing demand for intelligent solutions to enhance students’ academic performance, and an increasing preference for personalized learning within educational settings. Furthermore, key industry players are increasingly focusing on enhancing academic content, encompassing audio, video, and interactive charts, all infused with AI-driven enhancements to enrich students’ learning experiences.
Related Reports:
Cognitive Computing Technology Market – The Cognitive Computing Technology Market is expected to reach USD 156.26 billion by 2030 at 28.27% CAGR during the forecast period 2020-2030
Storage in Big Data Market – The Storage in Big Data Market is projected to reach USD 21.4 billion by 2032 at 16.26% CAGR during the forecast period 2023-2032
Industrial Vision Market – The Storage in Big Data Market is anticipated to reach USD 17.71 billion by 2030 at 8.50% CAGR during the forecast period 2023-2032
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Also, we are launching “Wantstats” the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, regional and segment analysis. Stay informed and make data-driven decisions with Wantstats.
Contact Information:
Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
Tags:
PR-Wirein, Extended Distribution, Reportedtimes, Research Newswire, English