The global AI in education market has ascended as one of the primary AI application verticals owing to the limitless potential in innovations and ability to accelerate the learning process
Ocean View, DE -- (SBWIRE) -- 06/25/2020 -- The global AI in education market has ascended as one of the primary AI application verticals owing to the limitless potential in innovations and ability to accelerate the learning process. Growing reputation of AI applications has created a platform for facilitating the knowledge acquisition and decision-making systems that support the educational institutions in effecting student development. Continuous improvements in technology and the increasing availability of advanced infrastructure has further propelled the AI in education market.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Amazon Web Services
2. Blackboard Inc.
4. Knewton Inc.
6. Microsoft Corporation
8. Jenzabar Inc.
9. Pixatel System Inc.
Growth Drivers of AI in Education Market: -
1. Increasing venture capital investment in AI and EdTech
2. Exponentially growing digital data
3. Growing integration of ITS in-learning process
4. Increasing parTrillion (USD)ership with education content providers
5. Rising adoption of cloud-based services
The ongoing trends of combining intelligent algorithms and AI in the learning platforms will positively influence the AI in education market 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.
Furthermore, increasing investments in the EdTech and AI technology considering the product reach and the accessibility will stimulate the 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.
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.
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The North American region is estimated to dominate the global 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 market growth. North America held over 60% share in the AI in education market in 2017 and will continue its dominance through 2024.
Some Points From Table Of Content: -
Chapter 5. AI in Education Market, By Model
5.1. Key trends, by model
5.2. Learner model
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Pedagogical model
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Domain model
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 6. AI in Education Market, By Deployment
6.1. Key trends, by deployment
6.2.1. Market estimates and forecast, 2013 - 2024
6.2.2. Market estimates and forecast, by region, 2013 – 2024
6.3.1. Market estimates and forecast, 2013 - 2024
6.3.2. Market estimates and forecast, by region, 2013 – 2024
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