London (UK), June 2018 - Artificial intelligence (AI) in education market size is set to surpass US$6 billion by 2024, according to a new research report by Global Market Insights, Inc. AI in the education market is driven by the integration of the intelligent tutoring system (ITS) in the learning process. ITS is one of the advanced applications of AI aimed at providing immediate and personalized feedback and instructions to learners without the intervention of a human tutor. The numerous benefits offered by the system are a major factor augmenting its demand.
ITSs assist students in improving their learning styles, offering personalized tutoring and high-quality education by gauging their pre-existing knowledge and learning. The platform collects data points and employs machine learning and predictive models to determine individual knowledge and skill levels and analyze the performance. It also provides students immediate feedback for improvement.
However, the high cost of deployment and lack of skilled workforce are the factors hindering the growth of AI in the education market. These systems are expensive to develop and implement, and the timeframe required for their development of these systems is long, limiting their implementation in the real world. Moreover, the risk of data leakage and security also restrain its market growth.
The new report provides key industry insights spread across 270 pages with 258 market data tables and 44 figures and charts, and includes a detailed table of contents. The work’s name clearly identifies its contents: "Artificial Intelligence (AI) in Education Market Size By Model (Learner, Pedagogical, Domain), By Deployment (On-Premise, Cloud), By Technology (Machine Learning, Deep Learning, Natural Language Processing (NLP)), By Application (Learning Platform & Virtual Facilitators, Intelligent Tutoring System (ITS), Smart Content, Fraud & Risk Management), By End-Use (Higher Education, K-12 Education, Corporate Learning), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Australia, China, India, Japan, South Korea, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024".
AI assists in improving the quality of education by addressing the learning challenges faced in the past, including planning, reasoning, language processing, and cognitive modeling. Various benefits offered by the acceptance of AI in education sector include tutoring grading, immediate feedback on course quality, personalization in education, and instant feedback to students. The aim of AI is to be a virtual facilitator for the learning domain and to create virtual human-like qualities that can think, react, act, and interact in a natural way using verbal and non-verbal communication.
The domain model in AI in the education market is estimated to grow at a substantial rate, with over 50% CAGR during the forecast period. The domain model represents the knowledge of the subject, expertise, and the relationship among different parts of the subject matter. It assists in improving the domain-specific knowledge, especially in the areas of science, technology, math, and engineering. AI in education systems usually gathers a huge amount of student data, which is computed to enhance the domain model. This helps in offering more personalized and efficient support, while refining and testing students’ understanding of the process of learning and teaching.
The deep learning model for AI in the education market is anticipated to grow at a CAGR of 52% during the forecast timespan. The technology helps in protecting the teaching profession, with tasks such as developing soft skills amongst students, cultivating pupils, and assisting instructors to train students and motivate them for better educational results. The technology also offers a collaborative learning methodology between teachers and students, and a wider environment with strong social and team-related skills. The advent of technology has hindered deep learning in schools.
The Asia Pacific region is forecast to be the most lucrative region for AI in the education market, with growth at a CAGR of over 51%. The digitalization and supportive government initiatives in the region have a noteworthy impact on the growth of the market. For instance, in 2015, the Japanese government launched the Japan Revitalization Strategy, which focuses on the development of advanced robots equipped with AI and machine learning technology.
Similarly, the Indian government is also promoting the use of technology education in schools and universities, shaping students into foremost innovators of the AI revolution. India’s Finance Ministry invested USD 474 million in its Digital India initiative to improve the digital literacy rate in various technologies, such as AI, and provide internet access to rural areas of the country.
The key players in AI in the education market are IBM, AWS, Microsoft, Google, Nuance, Century Tech, Blackboard, Pearson, Cognii, Volley.com, Blippar, Knewton, Jenzabar, Content Technologies, PLEIQ, Luilishuo, Pixatel System, and Quantum Adaptive Learning.
The AI in education market research report includes in-depth coverage of the industry with estimates, forecasting revenue in US$ from 2013 to 2024, for the following segments:
AI in the education market by model
- leaner model
- pedagogical model
- domain model
AI in the education market by deployment
AI in the education market by technology
- machine learning
- deep learning
- natural language processing
AI in the education market by application
- learning platform and virtual facilitators
- intelligent tutoring system (ITS)
- smart content
- fraud and risk management
AI in the education market by end use
- higher education
- k-12 education
- corporate training
The above information has been provided for the following regions and countries:
- North America - the U.S., Canada
- Europe - the UK, Germany, France, Spain, Italy
- Asia Pacific - Australia, China, India, Japan, South Korea
- Latin America - Brazil, Mexico
- MEA - GCC, South Africa