Global AI-Based Learning Market Surges to Nearly $4 Billion by 2024
According to Metaari, AI-based Learning is now a mainstream learning product in developed economies and rapidly gaining adoption in developing economies, particularly in countries in Southeast Asia like Myanmar, Thailand, and Vietnam.
SEATTLE, Mar. 11, 2019 /PRNewswire-PRWeb/ -- The five-year compound annual growth rate (CAGR) for the global AI-based Learning market is a robust 28.4% and revenues will reach just under $4 billion by 2024, according to a new report from Metaari called "The 2019-2024 Global AI-based Learning Market". There is now high demand in all six buying segments tracked by Metaari.
This is an evidence-based quantitative report. This report identifies over 1,100 AI-based Learning developers competing in the 122 countries tracked by Metaari. The vast majority are startups that have launched in the last 2-3 years.
The report is 342 pages and has 23 tables and 12 charts. The Organizational License for this report is $2,475.00 USD. To obtain the free Executive Overview, email: research(at)metaari(dot)com
There are at eight major catalysts driving the global AI-based Learning Market including true personalized learning, the spike in private investment going to startups, the extraordinary innovations being made in the healthcare verticals, the growing use of AIs for therapy (for both physical and mental conditions), the increase in the use of intelligent tutors, and the high demand for AI-based Learning in the corporate segments. The top catalyst driving the market is that the barriers-to-entry for startups are now quite low.
There are four sections in this report: an overview of the global market conditions, an analysis of the major catalysts driving the market, a demand side-analysis, and a supply-side analysis. The supply-side analysis provides revenue forecasts for three types of commercial AI-based products and services: pretrained retail packaged content and models sold or licensed by the unit, custom development services, and authoring tools and platforms.
The demand-side analysis breaks out five-year revenues forecasts for seven international regions: Africa, Asia Pacific, Eastern Europe, the Middle East, Latin America, North America, and Western Europe.
"In the 2019 market, revenues for AI-based Learning are heavily concentrated in North America and the Asia Pacific," comments Chief Researcher Sam S. Adkins. "In 2019, North America accounted for 29% of all revenues followed by Asia Pacific at 20%. This will pivot by 2024 with Asia Pacific generating 26% of all revenues and North America falling to 16%."
Forecast are further broken out by six buying segments: consumers, PreK-12 schools, tertiary & higher education institutions, federal government agencies, provincial/state/prefecture & local government agencies, and corporations & businesses.
"The flood of startups entering the market will reach a saturation point where consolidation will increase," adds Adkins. "It is significant that very large education companies are now buying AI-based Learning companies essentially 'buying their way in' and validating the market. Further proof of validation of the AI-based Learning market is the establishment of formal AI groups inside education companies like Pearson, Course Hero, and China's Squirrel AI Learning."
About Metaari
Metaari (formerly Ambient Insight) is an ethics-based quantitative market research firm that identifies revenue opportunities for advanced learning technology suppliers. We track the learning technology markets in 122 countries. We have the most complete view of the international learning technology market in the industry. Metaari focusses solely on advanced learning technology research on products that utilize psychometrics, neuroscience, game mechanics, robotics, cognitive computing, artificial intelligence, virtual reality, and augmented reality.
SOURCE Metaari
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