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AI benefits the education sector with features such as personalized learning, additional educational support and assessment and student engagement. AI in education is still in a primitive stage which is expected to have many more advancements in the forthcoming years…
Artificial Intelligence (AI) provides machines with intelligent capabilities such as learning, processing, identifying data patterns, speech recognition, and others. AI benefits the education sector with features such as personalized learning, additional educational support and assessment and student engagement. AI in education is still in a primitive stage which is expected to have many more advancements in the forthcoming years.
Artificial Intelligence in Education Market in the education sector, with the help of technologies such as machine learning and natural learning, assists in monitoring the students’ capability and enhancing the learning process as per the students requirement.
AI in education focuses on individual learning and monitoring which helps the students to understand the topic at their own pace. AI offers interactive and customized software tools integrated with augmented and virtual reality deployed on digital devices such as smartphones, tablets and wearable devices for students of all grades. The digital interactive content accelerates a student’s learning and understanding process. Deploying AI for education will enhance the learning environment with a special focus on implementing experimental and analytical learning, helping students to attain a clear understanding of the concept.
AI in education helps to reduce the time required for administrative tasks such as grading and admissions, which can help the institutions in giving equal focus to individual students and plan the lessons accordingly. The use of AI in the education system will bring opportunities for behavior management, which helps in understanding the behavior pattern of students through face recognition capabilities.
A major restraint that lies with AI is integration of AI-based solutions and lack of technical expertise due to complex algorithms.
Major Key Players
The prominent players in the market of AI in education are, IBM Corporation (US), Microsoft Corporation (US), Google (US), Amazon.com, Inc., (US), Cognizant (US), Pearson (UK), Bridge-U (UK), DreamBox Learning (US), Fishtree (US), Jellynote (France), Jenzabar, Inc., (US).
Other players in the market include Knewton, Inc., (US), Metacog, Inc., (US), Querium Corporation. (US), Century-Tech Ltd (UK), Blackboard, Inc., (US), Third Space Learning (UK), Quantum Adaptive Learning, LLC (US).
Industry News
In July 2018, IBM Watson Education has collaborated with Edmodo, a subsidiary of NetDragon Websoft Holdings Limited, to design and develop individualized tools and cognitive library services on Edmondo’s existing learning platform with recommendation feature which will help the educators to understand the need of each student and reduce learning gaps.
Segmentation
The market for AI in education has been broadly segmented into deployment, components, technology, and application.
- By deployment, the market is segmented into on-premise and on-cloud.
- By component, the market is segmented into software and services.
- By technology, the market is segmented into machine learning and natural learning process (NLP).
- By application, the market is segmented into intelligent tutoring systems, virtual facilitators, content delivery systems, interactive websites, and chatbot’s among others.
Regional Analysis
The market for AI in education is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of AI in education market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the market owing to early adoption of technologies such as artificial intelligence, machine learning, digital learning, and others. North America has always been leading in innovations and technological advancements, which can be attributable to high investments in research and developments in the field of AI technology.
Asia-Pacific is expected to grow at a significant pace during the forecast period, fuelled by emerging economies like India, China, and South Korea. Due to increasing government initiatives to support digitalization, automation, and growing adoption of cloud-based services in these countries, the market for AI in education in Asia-Pacific is expected to grow with the highest CAGR.
The AI in education market is expected to reach an approximate market value of USD 2 billion by 2023 growing at a 38% CAGR during the forecast period 2018-2023.
Source: MarketWatch
