Asia Pacific is estimated to be the most lucrative region for AI in education market. The market is estimated to grow 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 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. The finance ministry of India invested USD 474 million in their Digital India initiative to improve the digital literacy rate in various technologies, such as AI, and providing the internet to rural India.
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The use of the adaptive learning technology by the market vendors to create student-focused learning platforms is the main factor for the growth of AI in education market. The technology is used for developing digital programming and modifying it as per the learners’ requirements to track their progress.
The learner model is estimated to account for more than 60% share in the AI in Education market. 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 market is driven by the need for personalized learning solutions. Due to this, the solution providers are focusing more on developing user-friendly systems with subject knowledge to guide students better.
AI in 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 is major factor augmenting its demand. It assists 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.
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AI in education market is very competitive due to multinational companies and start-ups. Google, Microsoft, AWS, IBM, Nuance Communication, Knewton, Cognii, Luilishuo, PLEIQ, Sofia Labs, and Brainly are the leading market players. Merger & acquisitions are the major strategies used by the players to gain inorganic growth and acquire technical expertise and patents. For instance, in October 2016, Blackboard acquired Fronteer Ltd. to strengthen its position in the market.
Some Points From Table Of Content: –
Chapter 5. AI in Education Market, By Model
5.1. Key trends, by model
5.2. Learner model
5.2.1. Market estimates and forecast, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Pedagogical model
5.3.1. Market estimates and forecast, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Domain model
5.4.1. Market estimates and forecast, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 6. AI in Education Market, By Deployment
6.1. Key trends, by deployment
6.2.1. Market estimates and forecast, 2013 – 2024
6.2.2. Market estimates and forecast, by region, 2013 – 2024
6.3.1. Market estimates and forecast, 2013 – 2024
6.3.2. AI in education market estimates and forecast, by region, 2013 – 2024
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