The AI In Education Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s AI In Education Global Market Report 2024, 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 in the historic period can be attributed to digital learning platforms, personalized learning initiatives, adaptive learning systems, big data and analytics, early ai tutoring systems.
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 growth in the forecast period can be attributed to remote and hybrid learning, ai-enabled assessment tools, growing edtech investments, teacher support systems, teacher support systems. Major trends in the forecast period include ai-powered learning analytics, augmented reality (ar) and virtual reality (vr) in education, ethical ai in education, ai-enhanced language learning, gamification and ai.
The rising number of smartphone users is expected to propel the growth of artificial intelligence (AI) in education market going forward. Smartphone users utilize a cellular phone that contains a computer and other features previously not related to phones, including a web browser, an operating system, and the ability to run software programs. Smartphone users benefit from tailored and adaptable learning experiences incorporating AI technology into educational applications and platforms. Additionally, smartphones enable real-time interaction and engagement, allowing students to communicate seamlessly with AI-powered virtual assistants (tutors), and their widespread adoption expands the reach and impact of AI in education, making high-quality and personalized learning more accessible to a larger population. For Instance, according to the Ericsson Mobility Report 2022 from Ericsson, a Sweden-based networking and telecommunications company, smartphone subscriptions were 6,420 million in 2022 and are predicted to reach 7,740 million subscriptions by 2028. Therefore, the rising number of smartphone users will drive AI in education market.
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The ai in education market covered in this report is segmented
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
Product innovations are a key trend for gaining popularity in artificial intelligence (AI) in the education market. Major companies operating in artificial intelligence (AI) in the education market are focused on innovating advanced solutions to strengthen their position in the market. For instance, in February 2023, Nerdy Inc., a US-based technology platform for live online learning for students, launched two new products, an AI-Generated Lesson Plan Creator and AI-Generated Chat Tutoring, which are integrated with ChatGPT into its full suite of products. ChatGPT is an AI chatbot that uses natural language processing to create human-like conversational dialogue. The product’s AI-generated lesson plan creator can generate a variety of content for Experts, including in-depth suggestions on how a lesson might be structured and how content could be best leveraged, and AI-enabled chat tutoring provides real-time support to consumer learning membership customers 24×7 by providing quick and accurate responses to student questions.
The ai in education market report table of contents includes:
1. Executive Summary
2. AI In Education Market Characteristics
3. AI In Education Market Trends And Strategies
4. AI In Education Market – Macro Economic Scenario
5. Global AI In Education Market Size and Growth
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26. South America AI In Education Market
27. Brazil AI In Education Market
28. Middle East AI In Education Market
29. Africa AI In Education Market
30. AI In Education Market Competitive Landscape And Company Profiles
Top Major Players:
- Alphabet Inc
- Microsoft Corporation
- Amazon Web Services Inc
- IBM Corporation
- Cognizant Technology Solutions Corporation
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