Artificial Intelligence (AI) in Education Market 2021 : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2027

Which factors will propel North America Artificial intelligence (AI) in education market growth over 2018-2024?

Artificial intelligence (AI) in education market trends have been witnessing immense traction leveraging the enhanced way of learning provided by the digital content. Growing demand for Intelligent Tutoring System (ITS) among educational institutions will positively impact the market growth. The educational institutes such as schools, colleges and private coaching centers have been increasingly adopting advanced ITS solutions to provide personalized learning experience to the students. According to a research report by Global Market Insights, Inc., Artificial Intelligence (AI) in Education Market size is projected to exceed USD 6 billion by 2024.

The ongoing trends of combining intelligent algorithms and AI in the learning platforms will positively influence the industry growth throughout the study timeframe. Apart from transforming the learning experience in the classrooms, the technology has also changed the role of educators by offering more user-friendly and sophisticated teaching tools. The increasing collaborations between the market participants including content developers, publishers, EdTech Companies and education institutes to enhance the digital content will boost the product penetration.

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Furthermore, increasing investments in the EdTech and AI technology considering the product reach and the accessibility will stimulate the artificial intelligence (AI) in education market outlook. However, some of the limitation like the lack of skilled professionals and compromised data security of the ITS system can hinder the market growth over the forecast timeframe. Though considering its advantages, it may not be incorrect to state that the hindrances are not adequate to stop the proliferation of artificial intelligence in educational market.

How will the learner model account for a substantial share in the Artificial intelligence (AI) in education market?

There has been huge demand for the student-centric learning platforms among the educational institutes which will drive the learner model. In addition, shifting preferences for adaptive learning technology will foster the segmental share. Owing to widespread applicability, the learner model is presumed to hold over 60% of the AI in Education market share by 2024.

On the other hand, the growing need for personalized learning solutions will drive the demand for domain model. Moreover, the solution providers are looking to develop tailor made user-friendly systems focusing on the specific subject as per user requirements. Owing to this, the domain model is forecast to grow at a CAGR of more than 50% through 2024.
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How will the integration of different technologies augment the Artificial intelligence (AI) in education market share?

From a technology perspective, AI in Education market is divided into machine learning, deep learning, natural language processing. Each of them influences the different phases of product development which will drive the industry trends. The natural language processing (NLP) technology accounted for 65% revenue share in 2017 owing to significant usage in planning and designing of digital curriculum.

The NLP technology aids in the process of the content development & e-learning and is widely deployed into the virtual assistance system to analyze and convert the audio and text of the end-users. The deep learning technology is estimated to exhibit a CAGR of more than 50% during the study timeframe. The rising adoption of intelligent algorithms in the EdTech solution will propel deep learning technology demand.

How will the North America Artificial intelligence (AI) in education market fare over 2018-2024?

The North American region is estimated to dominate the global AI in education market owing to increasing investments in EdTech and AI technology. The country is the early adopter of new technologies and pre-existence of highly developed educational infrastructures will further foster the regional growth. Growing prevalence of handheld devices such as tabs and smartphones in the educational systems will further augment the artificial intelligence (AI) in education market growth. North America held over 60% share in the AI in education market in 2017 and will continue its dominance through 2024.