AI Market in Education Sector to witness over 45% growth to 2024
SELLBYVILLE, Del., July 18, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. " Artificial Intelligence (AI) Market in Education Sector 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 AI market in Education sector. The technology has transformed the classrooms and changed the role of educators in the learning process by providing more user-friendly and sophisticated tools.
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 artificial intelligence market in Education sector. However, the limitation of the ITS system, data safety & security issues, and lack of skilled professionals are the major forces hindering the market growth.
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The learner model is estimated to account for more than 60% share in the AI market in Education sector. 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 artificial intelligence market in Education sector is driven by the need for personalized learning solutions.
The Natural Language Processing (NLP) technology held more than 65% share of the revenue in 2017. The technology is widely used in the planning and designing of digital curriculum. It also assists in the process of the content development and e-learning. Furthermore, the technology is also widely adopted in the virtual assistance system to analyze the voice and text of the users. The deep learning technology is anticipated to grow at 50% CAGR to 2024.
The virtual facilitators and e-learning platform market is leading the application landscape with about 55% share in the AI market in Education sector. 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 artificial intelligence market in Education sector.
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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.
North America accounted for over 60% share in the AI market in Education sector. 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 AI market growth in Education sector. 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 size of artificial intelligence market in Education sector.
Asia Pacific AI market in Education sector 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 share of artificial intelligence market in Education sector. China leads the investments in technology and accounts for 17% of the global external investments in AI.
Buy this industry insights spread across 270 pages with 258 market data tables & 44 figures & charts from the report, "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" in detail along with the table of contents:
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Chapter 8. AI in Education Market, By Application
8.1. Key trends, by application
8.2. Learning platform & virtual facilitators
8.2.1. Market estimates and forecast, 2013 - 2024
8.2.2. Market estimates and forecast, by region, 2013 – 2024
8.3. Intelligent tutoring system
8.3.1. Market estimates and forecast, 2013 - 2024
8.3.2. Market estimates and forecast, by region, 2013 – 2024
8.4. Smart content
8.4.1. Market estimates and forecast, 2013 - 2024
8.4.2. Market estimates and forecast, by region, 2013 – 2024
8.5. Fraud and risk management
8.5.1. Market estimates and forecast, 2013 - 2024
8.5.2. Market estimates and forecast, by region, 2013 – 2024
8.6. Others
8.6.1. Market estimates and forecast, 2013 - 2024
8.6.2. Market estimates and forecast, by region, 2013 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/artificial-intelligence-ai-in-education-market
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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