Market Highlights
Artificial intelligence in education market is witnessing substantial developments. The market size is rising continually due to the rising digitization in education sectors worldwide. There is a rise in demand from staffing sectors pushing institutes to train their students in artificial intelligence, which fosters the growth of the market.
Besides, increasing demand for AI-powered training technologies substantiates market growth. Recent COVID-19 disruptions accelerated the digital transformation, which further encouraged education systems to consider online education to ensure continuity during quarantines. Institutions of all sizes and types experimented with various ways to increase access to online courses and digital content, which positively impacted the market growth.
Additionally, steps taken by governments worldwide to use artificial intelligence for education transformation are expected to boost the size of the market. According to Market Research Future (MRFR), the global artificial intelligence in education market is poised to create a valuation of approximately USD 2 billion by 2023, registering a massive CAGR of38% CAGR throughout the forecast period (2017-2023).
The market is witnessing rising numbers of collaborations across the world aiming to enhance the quality of online education and provide access to classes powered by cutting-edge technologies and artificial intelligence. Moreover, notable technology providers offering AI technology for education and training verticals are major factors influencing the market growth.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7310
Segmentation:
The AI in education market forecast is segmented into components, technology, deployment, application, and region. The component segment is sub-segmented into software and services. The technology segment is sub-segmented into machine learning (ML) and natural learning process (NLP).
The deployment segment is sub-segmented into on-premise and on-cloud. The application segment is sub-segmented into virtual facilitators, intelligent tutoring systems, content delivery systems, chatbots, interactive websites, and others. By regions, the market is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Global AI in Education Market - Regional Analysis
North America leads the global artificial intelligence in education market. Factors such as the presence of major technology providers and well-developed technology development centers in the region substantiate the market growth. Besides, increasing investment in research and development of AI technologies and digitization in the education market drives regional market growth.
Advancements in AI, ML, and DL technologies, positively impact the market growth. Moreover, the increase in demand for intelligent chatbots and virtual assistants boosts growth in the regional market.
Europe derives the second-largest share in the global artificial intelligence in education market. The early adoption of technological advancements such as cloud technology, artificial intelligence, and machine learning and the majority of AI solution providers in the region act as a major tailwind for the growth of the market. Additionally, the growing economy in the region pushes the market growth, boosting the funding required in studies of emerging technologies.
Asia Pacific artificial intelligence in the education market is growing rapidly. Factors such as the proliferation of digitization in education sectors drive the growth of the regional market. Moreover, increased adoption of cloud-based technologies and favorable government policies to support digitization and automation boost the growth of the regional market.
Furthermore, substantial investments transpired by key players for the development of AI platforms create substantial market opportunities. India and China are major markets for AI technologies in the region. The rising penetration of digital technologies in the learning & education sectors in China, India, and Japan positively impacts the market growth.
Artificial Intelligence in Education Market - Competitive Analysis
Highly competitive, the AI in education market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, innovation, and brand reinforcement. They make substantial investments to drive their research & development activities and expansion plans.
Major Players:
Players leading the AI in education market include Microsoft Corporation (US), IBM Corporation (US), Google (US), Cognizant (US), Amazon.com, Inc., (US), Pearson (UK), DreamBox Learning (US), Bridge-U (UK), Fishtree (US), Jenzabar, Inc., (US), Jellynote (France), Metacog, Inc., (US), Knewton, Inc., (US), Querium Corporation (US), Blackboard, Inc., (US), Century-Tech Ltd (UK), Third Space Learning (UK), and Quantum Adaptive Learning, LLC (US), among others.
Industry/Innovation/Related News:
MAR 09, 2021 --- Indian Institutes of Technology Bombay (IIT) launched a technocrat center for applied artificial intelligence – TCA2I. The new research center would foster collaboration between industry and academia in applied AI. IIT would be setting up such research centers and new schools across the country to cater to the rising demand for qualified workforces in the area.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/artificial-intelligence-in-workspace-market-7310
AI in Workspace Market Analysis Research, By Components (Hardware, Software, Services), Technology (Machine Learning, Image Recognition, Speech R ecognition, Context Aware Computing), Vertical (Automotive, BFSI, Healthcare) – Global Forecast Till 2027
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
