Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global AI in Education Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The recent market research report on the global artificial intelligence (AI) in education market reveals a robust growth trajectory for the industry, with an anticipated jump from $2.85 billion in 2022 to $3.99 billion in 2023. This significant increase correlates with a compound annual growth rate (CAGR) of 39.7%, despite the economic challenges brought on by the Russia-Ukraine conflict and its subsequent global impacts.
As per the detailed report, the market is expected to maintain a strong momentum, potentially hitting a market value of $15 billion by 2027, growing at a CAGR of 39.3%. Factors contributing to the market's expansion include the increasing penetration of smartphones, which has fundamentally transformed the educational experience by integrating AI into educational applications and platforms.
Accelerating Growth in the Asia-Pacific Region
While North America historically stood as the largest region in the AI in education market, the Asia-Pacific region is rapidly ascending the ranks, forecasted to be the fastest-growing segment in the coming years. This shift signals a widespread adoption of AI in educational infrastructures across diverse geographical landscapes.
Innovation at the Forefront of Market Expansion
The report highlights that continuous product innovations remain a driving force in the market's burgeoning popularity. AI solutions are innovatively improving learning experiences and operational efficiencies. A highlighted innovation includes AI-Generated Lesson Plan Creators and AI-Generated Chat Tutoring services that use advanced natural language processing for real-time, 24/7 student support.
With in-depth regional analysis and coverage of notable market participants, the research delves into various components of AI across educational sectors. The report offers comprehensive insight on the implications of AI solutions and services in K–12 education, higher education, and corporate training environments.
Key Players Shaping the Industry
The leading industry players include prominent tech giants and specialized education technology firms that are at the forefront of delivering personalized learning experiences, AI-driven learning management systems, smart content delivery, and efficient administrative functions.
The Landscape of AI in Education
- Advanced AI solutions and services are vital in offering customized educational processes and learning platforms.
- Deployment in cloud-based and on-premises infrastructures caters to a wide array of applications.
- The growing sophistication of AI-driven tutoring systems, risk management, and intelligent content adaptation.
- Integration of VR and AR technologies enhance interactive learning environments.
A selection of companies mentioned in this report includes
- 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
For more information about this report visit https://www.researchandmarkets.com/r/vx8ccj
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