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Artificial Intelligence (AI) in Education Market Size By Component (Solution, Service [Professional Service, Managed Service]), 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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI2639
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Drivers

AI in Education Market size valued at USD 4 billion in 2022 and is anticipated to witness over 10% CAGR from 2023 to 2032, owing to the growing inclination towards personalized learning.
 

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Increasing reliance on technological reinforcement and conventional techniques has rendered traditional education models no longer sufficient to sustain the sector. In order to fulfill the evolving demands of students and educators, edtech startups are transforming and improving the education sphere by disrupting traditional technologies and advancing existing learning methods. As of January 2023, there are 30 EdTech Unicorns worth $89 billion worldwide.
 

Lack of skilled professionals to hamper the industry growth

The lack of skilled professionals is a major factor restricting the adoption of AI across the education industry. The demand-supply gap is widening as the workforce is lagging and needs to adapt to keep up with high-tech advancements. However, governments around the world are recognizing the need for upskilling or reskilling in the realm of AI and are launching numerous projects. For instance, in April 2020, non-profit organizations NASSCOM and MEITY (Ministry of Electronics and Information Technology) launched the FutureSkills PRIME initiative in India to retrain and up-skill IT workers in 10 developing fields, including AI.
 

Growing adoption of IoT devices to propel the smart content segment growth

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On the basis of application, the AI in education market share from the smart content segment is slated to showcase more than 25% CAGR during the forecast timeline. AI smart content creation stimulates the real-life experience of graphical web-based study environments and improves learning experiences using robots, audio & video, and 2D -3D visualization. The surging incorporation of IoT in education and services in order to make the most of this technology while making education more engaging and collaborative is projected to increase the demand for smart content.
 

Government efforts to boost product utilization for higher education end-uses

Authors: Preeti Wadhwani, Shamal Gawande

Frequently Asked Questions (FAQ) :

The global market of artificial intelligence (AI) in education was worth USD 4 billion in 2022 and is set to grow at a 10% CAGR through 2032 driven by the growing inclination toward smart and personalized learning methods.
The higher education end-use segment accounted for more than USD 2 billion in revenue in 2022 and is foreseen to record significant growth through 2032 as a result of the rising use of AI by universities worldwide after the COVID-19 outbreak to bridge learning gaps and accelerate learning, in combination with increased government efforts.
The market for artificial intelligence (AI) in education in Europe is poised to account for more than 15% industry share by 2032 owing to the continually developing AI systems that are boosting data utilization.
Blackboard Inc., IBM Corporation, Amazon Web Services (AWS), Google Inc, IBM Corporation, Knewton, Squirrel AI, and others are some key companies functioning in the industry.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 430
  • Countries covered: 18
  • Pages: 300
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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