Artificial Intelligence in Education - Industry Development and Future Analysis

The AI in education market was sized about USD 2,126 million in 2022, and it will power at a rate of 36.6% in the years to come, to reach USD 25,772 million by 2030.

The solution category held a larger share, of 77.4%, in the recent past and it will continue like this in the years to come. 

This has a lot to do with the increasing requirement for AI academic solutions for enabling educators to mechanize administrative tasks and discover more potentials for improving the efficiency of classroom teaching.

Cloud had a larger share in the past, and it will continue like this in the years to come as well. This is because of the increasing use of cloud platforms for supporting IT modernization and growing focus on reducing the total ownership cost.

Moreover, cloud enables students to improve their knowledge and aids accomplish business processes, resulting in improved pupil engagement and enhanced performance.

Furthermore, AI-empowered teaching solutions installed on a cloud network bid numerous advantages, including developing responses to lessen risk, automated updating of software, around the clock support, reducing cost of IT operations, and disregarding with the requirement for updating internal systems.

As per P&S Intelligence, learning platforms dominated the AI in education market in the past, and it will be like this in the future as well.

This is chiefly ascribed to the increasing preference for distance and online teaching courses, the budding trend of self-learning through online platforms, the evolvement of soft skills of learners, growing emphasis  on the integration of next-gen techs in the education industry, and providing improved teaching platforms. 

Thus, market players are concentrating on the introduction of platforms offering customized teaching services.

North America dominated the industry with a total revenue of USD 887 million, and it will be like this in the future.

This is due to the fact that the it has a sophisticated educational infra, a high emphasis on plummeting the burden on teachers with regards to administrative tasks, enormous spending on EdTech, an increased requirement for personalized learning in classrooms, and a growth in requirement for intelligent solutions for improving students’ performance in the academics. 

Also, more than a few key players are emphasized on academic content in audio, video, and charts, enabled by AI to improve the knowledge of the students.

With the growing emphasis on e-learning and digitization, conversational learning is becoming a vital aspect of education. It is an idea in which content is accessible as a two-way conversation. Teaching like this, makes the procedure more interactive, interesting and easily understandable for students.

It is because of the growing demand for professional services globally, the demand for AI in education will continue to grow in the years to come.