According to Goldstein Research, “Growing global digitalization and rapidly changing technologies fostering the growth of fastest evolving artificial intelligence technology." Artificial intelligence will help the education sector by enhancing the conventional teaching process in schools and universities. In future, AI technology does not substitute for teachers but compliment them, showcasing huge opportunity for the education system to dynamically include technology rather than passively accepting the internet as the modern encyclopaedia.
The global artificial intelligence in education sector market is segmented based on technology, by AI based educational model and by services. AI based educational model is further bifurcated into Learner model, Pedagogical model and Domain model. In 2016, the learner model dominated the AI in education sector market for more than 58% of the total market share. The rising numbers of startups are focusing on designing content-based products and services for the education sector which will drive the growth of learner model segment. Additionally, various AI technology vendors are embedding adaptive learning technology to support smart learning options for students.
Europe is the largest region for artificial intelligence in education sector market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. Europe artificial intelligence in education sector market is expected to expand at an impressive CAGR of more than 50.0% by 2024. In Europe, United Kingdom leads the strongest position in AI ecosystem with approximately 121 AI firms in U.K, with London as the largest hub. AI companies from U.K, Germany and France account for over 50% of the total European AI ecosystem. Rising number of start-ups in Europe is anticipated to drive the market over the forecast period.
Adaptive Learning: Major Trend
In education sector, adaptive learning has emerged as growing trend with more than 40 companies such as Knewton and DreamBox Learning, already has marketing adaptive learning system to schools in North America, Europe and Asia. Adapting learning systems helps the students by capturing the conventional classroom teaching by capturing information about each student's learning and accordingly crafting custom lesson plans based on individual student's knowledge and progress. For instance, at Arizona State University, an adaptive learning program is helping students who are struggling with remedial maths and students passed rate has improved from 66% to 75% and dropout rates declined by 7%.
“Global Artificial Intelligence in Education Sector Market Outlook 2024” contains detailed overview of the global artificial intelligence in education sector market in terms of market segmentation by technology type, by AI based educational models and by services.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Artificial Intelligence in Education Sector Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as IBM Corp, Cognizant, Nuance Communications, Quantum Adaptive Learning, ALEKS, Blackboard, Dream Box Learning, Jenzabar etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global artificial intelligence in education sector market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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