Artificial Intelligence Education Market

AI technology is strengthening and raising the experience and knowledge of teachers and pupils, will market growth

Vendors of AI technology are creating electrical gadgets with AI capabilities by creating sophisticated learning systems that enhance learning procedures. To survive in a cutthroat world, educational institutions must provide the finest learning environment. For instance, Century Intelligent Learning created a classroom employing AI technology that allows professors to create academic curricula online, allowing students to access their curricula whenever they choose. Moreover, based on the aptitude test results that the student administered, AI technology is utilized to spot knowledge gaps and suggest courses for them to study. AI technology examines these questions to determine the pupils' strengths and shortcomings.

The instructors' and students' experience and knowledge are improved through AI-enabled educational products and services. Teachers and parents may better understand their students' performance using these products and services.

The education sector is being digitally transformed, increasing demand for on-premise AI. In 2022, the on-premise sector of Artificial Intelligence in the Education market reached a valuation of over USD 3 billion. The use of an on-premises AI model has increased due to the digital revolution in the education industry since it can successfully engage students and boost income through new conversational channels. Also, many academic institutions are investing in upskilling their students to stay up with the rapidly changing digital Technology. Thus, driving the Artificial Intelligence in Education market revenue.

The Global Artificial Intelligence in Education Market Industry experiences a surge in the adoption of e-learning platforms, driven by the need for flexible and accessible education solutions. As educational institutions increasingly integrate AI technologies into their curricula, the market is projected to reach 4.7 USD Billion in 2024. This shift allows for personalized learning experiences, catering to diverse student needs. For instance, platforms utilizing AI algorithms can analyze student performance data to tailor educational content, enhancing engagement and retention. The growing preference for online learning environments indicates a robust trajectory for the industry, suggesting that the demand for AI-driven educational tools will continue to rise.

By Region, the study provides AI in education market insights into North America, Europe, Asia-Pacific and the Rest of the World. North American Artificial Intelligence in the Education market area will dominate this market. This is attributable to the Region's early embrace of cutting-edge technologies. Also, a strong educational system, particularly in the United States and Canada, is projected to fuel market expansion. The market is expanding due to the increasing use of sophisticated tutoring systems, chatbots, and other tools for higher-quality education, as well as better learning tactics that use deep learning and machine learning approaches.

Further, the major countries studied in the AI in education market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: ARTIFICIAL INTELLIGENCE IN EDUCATION MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Due to the Region's highly established educational infrastructure, Europe Artificial Intelligence in the Education market is predicted to have considerable development in industry. Over the projected period, rising digitalization initiatives and AI investments are also anticipated to promote market expansion. Further, Germany's Artificial Intelligence in the Education market held the largest market share, and the UK Artificial Intelligence in the Education market was the fastest-growing market in the European Region.

Due to the increasing need for digitization and government efforts like e-governance in India towards Digital India, the Asia Pacific Artificial Intelligence in the Education market is predicted to have significant development. Furthermore, to help students become the leading innovators of the AI revolution, the Indian government is supporting the use of Technology in teaching in schools and colleges. Aside from that, the worldwide artificial Intelligence in education market is anticipated to grow throughout the forecast period, 2019–2026, due to the Indian government's Digital India project, which aims to increase the rate of digital literacy in various technologies, including AI.

Moreover, China's Artificial Intelligence in the Education market held the largest market share, and India's Artificial Intelligence in the Education market was the fastest-growing market in the Asia-Pacific region.

Leading industry companies are investing significantly in R&D to broaden their product offerings, which will spur further expansion of Artificial Intelligence in the Education market. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. Artificial Intelligence in the Education industry must offer products at reasonable prices to grow and thrive in a more cutthroat and competitive environment.

One of the primary business strategies manufacturers employ in Artificial Intelligence in the Education industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. Some of the biggest medical benefits in recent years have come from Artificial Intelligence in the Education sector. Major players in the Artificial Intelligence in Education market, including IBM Corporation (US), Microsoft Corporation (US), Google (US), com Inc. (US), Cognizant (US), Pearson (UK), Bridge-U (UK), DreamBox Learning (US), Fishtree (US), Jellynote (France), Jenzabar Inc. (US)., and others, are attempting to increase market demand by investing in research and development operations.

With its headquarters in Armonk, New York, and operations in more than 175 nations, the International Business Machines Corporation, sometimes known as Big Blue, is an American global technology company. SXiQ, an Australian provider of digital transformation services focused on cloud platforms, cloud apps, and cloud cybersecurity, was acquired by IBM Corporation in November 2021. The acquisition is anticipated to improve IBM Consulting's capacity to update technological infrastructure and cloud-based applications in New Zealand and Australia.

K–12 education services for math, literacy and ELA, foreign languages, and applied sciences are offered by Carnegie Learning, Inc. Pittsburgh, Pennsylvania's Union Trust Building is home to Carnegie Learning, Inc. At a price of USD 15 million, Carnegie Learning Inc., a top provider of K–12 education solutions, bought Scientific Learning Company in September 2020. This purchase aims to improve learning outcomes and boost the company's portfolio of educational technologies.