Selbyville, DE -- (SBWire) -- 03/11/2019 --North America accounted for over 60% share in the AI in Education market. The growth of the market is driven by the increasing investments in EdTech and AI technology. The highly developed education infrastructures and early adoption of the technology in the education sector enhance the market growth. The growing dependence on mobile devices, such as smartphones, tablets, and laptops, to access teaching programs and study materials have given an upsurge to software developers for designing software compatible with these mobile devices, driving the market growth.
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The increasing partnership between the education content developers, publishers, education institutes, and EdTech Companies to develop digital content and provide e-learning services to their students foster the demand. Furthermore, increasing investments in the EdTech and AI technology also supports the growth of AI in Education market. However, the limitation of the ITS system, data safety & security issues, and lack of skilled professionals are the major forces hindering the market growth.
AI in Education Market is projected to surpass USD 6 billion by 2024 due to the growing demand for Intelligent Tutoring System (ITS) by educational institutions. The educational institutes are adopting advanced ITS to offer personalized learning experience and enhance tutoring methods. The integration of intelligent algorithms and AI in the learning platform also promotes the growth of the market. The technology has transformed the classrooms and changed the role of educators in the learning process by providing more user-friendly and sophisticated tools for both educators and students.
The learner model is estimated to account for more than 60% share in the AI in Education market. The demand for the more student-centric learning platforms from higher educational institutions impacts the growth. Moreover, the integration of the adaptive learning technology also augments the demand for the learner model. On the other hand, the domain model is estimated to grow significantly during the forecast period with the CAGR of more than 50%. The market is driven by the need for personalized learning solutions. Due to this, the solution providers are focusing more on developing user-friendly systems with subject knowledge to guide students better.
The virtual facilitators and e-learning platform market is leading the application landscape with about 55% share in the AI in Education market. The growth of the market is credited to the increasing adoption of the online learning platform. The education institutes are focusing more on developing digital content and delivering knowledge through web-based solutions to provide more personalized learning for students. Furthermore, the integration of the virtual facilitators and chatbots in the e-learning platforms to assist students in the learning process also drives the market growth.
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The higher education sector is dominating the market with over 50% share in 2017. These institutes are leveraging the capabilities of the AI for content development, curriculum designing, online learning platforms, and administrative operations. Furthermore, the increasing adoption of the web-based services and smartphones has encouraged the educational institutes to move toward online learning solutions to increase the student base and provide high-quality education.
Asia Pacific AI in Education is estimated to grow substantially with the CAGR of more than 51% during the forecast timeline. The supportive government policies and digitalization activities in the region are driving the market growth. China leads the investments in technology and accounts for 17% of the global external investments in AI. Increasing investment by Chinese players is also one of the major factors driving the growth in the region.
Some of the major vendors that are serving the AI in Education market are Nuance Communication, Microsoft, AWS, IBM, Google, Cognii, Pearson, Jenzabar, Volley.com, Content Technologies, Pixatel Systems, PleIQ, Knewton, Blippar, Blackboard, Century Tech, Quantum Adaptive Learning, and Liulishuo.
Table of Contents:
Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope,
1.1.5. Definition
1.1.6. Methodology and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. AI in Education industry 360ยบ synopsis, 2013 - 2024
2.1.1. Regional trends
2.1.2. Model trends
2.1.3. Deployment trends
2.1.4. Technology trends
2.1.5. Application trends
2.1.6. End-Use trends
Chapter 3. AI in Education Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2013-2024
3.4. Industry ecosystem analysis
3.5. Industry evolution
3.6. Market news
3.7. Features & benefits of AI in education sector
3.8. Technology & innovation landscape
3.8.1. Chatbot
3.8.2. Video analytics
3.8.3. Augmented reality and virtual reality
3.8.4. Education neuroscience
3.9. Use cases
3.10. Market news
3.11. Regulatory landscape
3.11.1. Health Insurance Portability and Accountability Act (HIPAA)
3.11.2. Payment Card Industry Data Security Standard (PCI DSS)
3.11.3. North American Electric Reliability Corp. (NERC) Standards
3.11.4. Federal Information Security Management Act (FISMA)
3.11.5. The Gramma-Leach-Bliley Act (GLB) Act of 1999
3.11.6. Sarbanes-Oxley Act of 2002
3.11.7. The Education Act 2011
3.11.8. Right to Education
3.11.9. Individuals with Disabilities Education Act
3.11.10. No Child Left Behind Act
3.11.11. Children's Internet Protection Act (CIPA)
3.11.12. United Nations Education, Scientific, and Cultural Organization (UNESCO)
3.12. Industry impact forces
3.12.1. Growth drivers
3.12.1.1. Increasing venture capital investment in AI and EdTech
3.12.1.2. Exponentially growing digital data
3.12.1.3. Growing integration of ITS in learning process
3.12.1.4. Increasing partnership with education content providers
3.12.1.5. Rising adoption of cloud-based services
3.12.2. Industry pitfalls & challenges
3.12.2.1. Data safety & security issues
3.12.2.2. Limitation of ITS
3.12.2.3. Lack of skilled professionals
3.13. Growth potential analysis
3.14. Porter's analysis
3.15. PESTEL analysis
Chapter 4. Competitive Landscape
4.1. Introduction
4.2. Major market players, 2017
4.2.1. Google Inc.
4.2.2. Microsoft Corporation
4.2.3. IBM Corporation
4.2.4. Amazon Web Services
4.2.5. Nuance Communication
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Artificial Intelligence (AI) in Education Market Set to Register 45% CAGR During 2018-2024: IBM, Google, Microsoft
The Artificial Intelligence (AI) in Education market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report LLC.