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Artificial Intelligence in Education Market in APAC to register a phenomenal CAGR of 51% over 2018-2024

Author : Ronak Bora | Published Date : 2019-04-08 

Asia Pacific is estimated to be the most lucrative region for Artificial Intelligence in Education Market. 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.

China leads the investments in technology and accounts for 17% of the global external investments in AI. Increasing investment by Chinese players is also one of the major factors driving the growth in the region. 

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North America accounted for over 60% share in the Artificial Intelligence in Education Market. The growth of the market is driven by the increasing investments in EdTech and AI technology. The highly developed education infrastructures and early adoption of the technology in the education sector enhance the market growth. The growing dependence on mobile devices, such as smartphones, tablets, and laptops, to access teaching programs and study materials have given an upsurge to software developers for designing software compatible with these mobile devices, driving the market growth.

The increasing partnership between the education content developers, publishers, education institutes, and EdTech Companies to develop digital content and provide e-learning services to their students foster the demand. Furthermore, increasing investments in the EdTech and AI technology also supports the growth of Artificial Intelligence in Education Market. However, the limitation of the ITS system, data safety & security issues, and lack of skilled professionals are the major forces hindering the market growth.

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 Artificial Intelligence in Education 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.

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The virtual facilitators and e-learning platform market is leading the application landscape with about 55% share in the Artificial Intelligence in Education Market. The growth of the market is credited to the increasing adoption of the online learning platform. The education institutes are focusing more on developing digital content and delivering knowledge through web-based solutions to provide more personalized learning for students. Furthermore, the integration of the virtual facilitators and chatbots in the e-learning platforms to assist students in the learning process also drives the market growth.

Artificial Intelligence in Education Market is projected to surpass USD 6 billion by 2024 due to the growing demand for Intelligent Tutoring System (ITS) by educational institutions. The educational institutes are adopting advanced ITS to offer personalized learning experience and enhance tutoring methods. The integration of intelligent algorithms and AI in the learning platform also promotes the growth of the market. The technology has transformed the classrooms and changed the role of educators in the learning process by providing more user-friendly and sophisticated tools for both educators and students.

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Some of the major vendors that are serving the Artificial Intelligence in Education Market are Nuance Communication, Microsoft, AWS, IBM, Google, Cognii, Pearson, Jenzabar, Volley.com, Content Technologies, Pixatel Systems, PleIQ, Knewton, Blippar, Blackboard, Century Tech, Quantum Adaptive Learning, and Liulishuo.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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