The global artificial intelligence in education market is expected to grow with a CAGR of 44.2% during the forecast period. Artificial intelligence (AI) is a machine that has the ability to learn advice, understand and perform similar functions as a human does. AI makes use of mathematics, computer science, engineering, psychology, biology, and various other fields to perform its functions. It can be used in various applications such as education, social media, supply chain logistics, manufacturing and others. The artificial intelligence has been used in the education sector such as identifying the imperfections in classroom, automating grading, providing personalized educational material to students and various such applications. The demand for artificial intelligence is increasing further in the education sector due to the availability of computers, internet connectivity, adaptive learning programs and personalized learning. The market for artificial intelligence in education is growing at a higher CAGR and the growth is further expected to propel in the forecast period.
The market is segmented on the basis of deployment type, component type, technology and application. The deployment type segment is classified into cloud based and on-premises, among which the cloud based deployment mode is expected to grow significantly during the forecast period. The acceptance of cloud based deployment mode is rising owing to the reduced operational costs and ease of deployment. Moreover, natural language processing (NPL) which is classified under the technology is growing at a rapid pace as it is highly useful is analysing the large volumes of data that is generated by the educational software. NPL is a technology that enables computer to understand and speak human languages and helps to answer human queries in natural language. The market is segmented on the basis of regions as North America, Europe, Asia Pacific, Latin America and Middle East Africa. The North America region is dominating the market owing to the adaption of various technologies such as digital learning, machine learning and others in the education sector. In addition, the investment in research and development in this region has accelerated the innovation in technologies. Moreover, Asia Pacific region is expected to grow its market for AI in education owing to growing use of technology and digitization in education sector. The government in this region is also taking initiatives for automation, digitization and use of cloud-based services which will accelerate the market growth.
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The market for artificial intelligence is highly fragmented owing to the presence of multiple national and international players. There are various market players such as IBM, Cognizant, Microsoft, Google, Amazon Web Service, Inc., Blackboard Inc., Century-Tech Ltd., Metaocg Inc., Knewton Inc., Dreambox Learning and others.
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