Selbyville, Delaware, July 06, 2022 (GLOBE NEWSWIRE) --
The artificial intelligence (ai) in education market is expected to surpass USD 80 billion by 2030, as reported in a research study by Global Market Insights Inc. The growing emphasis on online learning platforms due to COVID-19 restrictions is driving the AI in education market growth.
Growing investments in AI-based startups are fueling the AI in education market expansion. Investments in the technology are led by digital-native companies and tech giants including Google, Amazon, and Apple. They invest billions of dollars in a wide range of AI applications, ranging from robotics to machine learning, virtual assistance technology, autonomous vehicles, and natural language to computer vision.
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The professional service segment held a market share of around 70% in 2021. As educational institutes are rapidly embracing digital technology solutions, companies are focusing on enhancing the learning experience across coaching institutes. Industry players are also slated to select a professional service partner that can offer expert consulting, maintenance, integration & deployment services and custom offerings including software implementation, test plans & product testing in an institutional environment.
The machine learning technology segment is predicted to grow significantly over the forecast timeline. It captures & maintains the rich content of information coupled with the identification of meaningful patterns and helps in converting it into a structured database for future usage. The technology offers a customizable learning experience, student path prediction, and suggested learning path, identifying weaknesses, and analyzing the areas that require improvement among students.
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K-12 education is anticipated to grow at a CAGR of 45% during 2022 - 2030. New and more critical academic standards are shifting their focus toward measuring students’ problem-solving & critical thinking capabilities and preparing them for higher education & career success.
The smart content segment is projected to witness exponential growth over the forecast period. Digital content platforms are used for their enhanced features to provide an enriched experience for learners and administrator control. The importance of e-learning standards has increased in the past five years, forcing many parties to launch their educational documents online to gather more reviews and new & improved service offerings.
Europe is set to generate a revenue of USD 15 billion in the AI in education market by 2030. European homes have access to fast broadband connections and as the internet penetration increases, the population with access to AI-enabled educational services also rises. These factors are estimated to foster market demand.
Industry participants operating in the market are emphasizing on collaborations with government authorities for accelerating the adoption of advanced learning platforms. For instance, in June 2021, the UK government signed a partnership agreement with IBM to explore and adopt innovative new digital technologies such as Artificial Intelligence (AI) and quantum computing across multiple business sectors. This partnership aimed to enhance productivity, create new skilled jobs, and boost regional & national economic growth.
Some major findings of the AI in education market report include:
- The rising demand for interactive learning experiences complementing the market revenue.
- Growing investments in AI-based startups are another factor propelling the market size.
- The emergence of innovative EdTech startups is enabling consumers to shift toward AI technology-based education.
- Europe accounted substantial market share in 2021 owing to the presence of prominent players and supportive government initiatives.
- Major players operating in the AI in education market are AWS, Blackboard Inc., Blippar, Century Tech Limited, Cerevrum Inc., CheckiO, etc.
- Leaders operating in the market are focusing on developing innovative product launches for advanced online education solutions.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 AI in education industry 360º synopsis, 2018 - 2030
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Deployment model trends
2.6 Technology trends
2.7 Application trends
2.8 End-use trends
Chapter 3 AI in Education Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Impact of Russia-Ukraine war
3.4 AI in education industry ecosystem analysis
3.5 Industry evolution
3.6 Features & benefits of AI in education sector
3.7 Technology & innovation landscape
3.8 Use cases
3.9 Investment portfolio
3.10 Patent analysis
3.11 Regulatory landscape
3.12 Industry impact forces
3.13 Growth potential analysis
3.14 Porter’s analysis
3.15 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
