Which region accounted for the highest share in the AI in education market?

Posted on 2023-05-30 by researchinsights in Education, Industrial, Technology // 0 Comments

San Francisco, Calif., USA, May 30 2023 — /EPR Network/ —

AI In Education Industry Overview

The global AI in education market size was valued at USD 1.82 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 36.0% from 2022 to 2030. Factors such as increasing investments in AI and EdTech by private as well as public sectors and the increasing penetration of edutainment are driving the demand for Artificial Intelligence (AI) in education. Additionally, the advancement in technology is fueling the demand for AI in education around the world.

The COVID-19 pandemic severely impacted industries across the world. However, the market witnessed a significant rise in the demand for innovative AI-based education solutions during the pandemic. According to a survey published by the University Professional and Continuing Education Association in 2021, 51% of the faculty in the U.S. are more confident about online education than they were before the outbreak. In May 2020, Jenzabar, Inc., a technology innovator for higher education, announced the launch of the Jenzabar Unity platform to improve operational efficiency and reduce technical barriers associated across campus with the help of iPaas integration.

Gather more insights about the market drivers, restraints, and growth of the Global AI In Education Market

The AI in education component involves providing a better experience to the students, teachers, and educators. Various service providers are innovating different solutions or services for AI in education that connect to various education platforms. Additionally, the increasing adoption of online education for the development of skills is boosting the demand for AI in education.

Moreover, the demand for AI in education is high due to the pandemic but the lack of skilled professionals is restraining the market growth. In 2021, tech companies partnered with universities for introducing new training formats for talent in the AI field to better align with the development trends and newest industry shifts as there is an increase in AI-backed industry applications.

Browse through Grand View Research’s Next Generation Technologies Industry Related Reports

Technical and Vocational Education Market – The global technical and vocational education market size was valued at USD 622.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.

Education Technology Market – The global education technology market size was valued at USD 123.40 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2023 to 2030.

AI In Education Market Segmentation

Grand View Research has segmented the global AI in education market based on component, deployment, technology, application, end-use, and region:

AI In Education Component Outlook (Revenue, USD Million, 2017 – 2030)

Solutions
Services

AI In Education Deployment Outlook (Revenue, USD Million, 2017 – 2030)

Cloud
On-premises

AI In Education Technology Outlook (Revenue, USD Million, 2017 – 2030)

Natural Language Processing (NLP)
Machine Learning

AI In Education Application Outlook (Revenue, USD Million, 2017 – 2030)

Learning Platform & Virtual Facilitators
Intelligent Tutoring System (ITS)
Smart content
Fraud and Risk Management
Others

AI In Education End-use Outlook (Revenue, USD Million, 2017 – 2030)

K-12 Education
Higher Education
Corporate Training & Learning

AI In Education Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Market Share Insights:

November 2021: IBM Corporation announced the acquisition of SXiQ, a digital transformation services company based in Australia that specializes in cloud platforms, cloud applications, and cloud cybersecurity. The acquisition is expected to increase IBM Consulting’s capabilities in New Zealand and Australia to modernize technology infrastructure and applications in the cloud.

October 2021: IBM corporation announced to provide 30 million people with new skills with more than 170 industry and academic partnerships by 2030, which would help to fill the growing skills gap, democratize opportunity, and give new generations of employees the skills they needed to build a better future.

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