Title: Artificial Intelligence (AI) in Education Market 2021 – 2027 | Key Developments Factors and Demand Forecast
1Artificial Intelligence (AI) in Education Market
to 2027 - Opportunity Analysis Growth Forecast
Report
- Digitization and smart technological tools, like
artificial intelligence (AI), have been foraying
in almost every industrial sector over the past
few years. Educational sector is no exception.
There has been a considerable rise in the
application of AI in education on account of the
advanced features and benefits offered by the
technology. This is opening lucrative growth
opportunities for artificial intelligence in
education market. According to Global Market
Insights, Inc., the market size is estimated to
surpass USD 20 billion by 2027. - Rising integration of Intelligent Tutoring System
(ITS) in the learning process has significantly
improved the learning styles of students,
providing personalized tutoring and high-quality
education, thus positively influencing the
industry landscape.
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2- AI based education applications are majorly used
for higher education, K-12 education and
corporate training. However, K-12 segment is
witnessing higher adoption rate. In 2020, the
segment had held a sizeable market share of over
30. This can be ascribed to the increasing
transitions in academic standards and growing
inclination towards measuring students critical
thinking and problem-solving capabilities,
preparing them for higher education and
successful career. AI software tools, in this
regard, help in understanding the student
requirements at every stage of learning and
preparing the learning course as per the
students strengths and weaknesses.
- In terms of component, service segment to witness
a notable CAGR of 40 through 2027, owing to the
heightened adoption of cloud computing services
which is impelling the demand for managed
services. Besides, emergence of
Platform-as-a-Service and Software-as-a-Service
is contributing to the segmental growth.
- With regards to the technology, machine learning
is gaining increased prominence owing to the
advantages associated with it such as it helps to
understand the educational patterns and suggest
variations in teaching methodologies. It also
facilitates unbiased grading system and feedback
mechanism for teachers as well as students.
Meanwhile, machine learning boasts of the ability
to collect and maintain the rich content of
information, determine meaningful patterns within
the information and convert it into a structured
database for later use.
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4- With regards to deployment, cloud segment is
amassing high popularity and is expected to
record a robust CAGR of over 50 through 2027.
This is majorly due to the rising application of
cloud services, reduction in the ownership cost
for educational institutes and helping them in
investing in infrastructural developments
required for high quality of education.
- Speaking of the regional outlook, the industry is
observing a meritorious growth across Europe. In
2020, Europe artificial intelligence in education
market had accounted for a significant revenue
share of over 15. The notable market size can be
attributed to the increased penetration of
digitalization and rising investments in AI. The
internet penetration in the region was estimated
to reach around 91 in 2020.
- The global artificial intelligence in education
market is dominated by leading firms such as
Amazon Web Services, Inc., Blackboard Inc.,
Blippar, Century Tech Limited, Cerevrum Inc.,
CheckiO, Pearson PLC, TrueShelf, Querium
Corporation, Knewton., Cognii Inc., Google Inc.,
Microsoft Corporation, Nuance Communication Inc.,
IBM Corporation., Jenzabar Inc., Yuguan
Information Technology LLC, Pixatel Systems,
PleiQ Smart Toys SpA, and Quantum Adaptive
Learning LLC.
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