Vancouver, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The global artificial intelligence in the education sector market is forecast to reach a market size of USD 109.63 Billion by 2032 and register a significantly high CAGR, according to a current analysis by Emergen Research. Rising demand for unique and interactive virtual learning courses like game-based courses is a key factor driving growth of the global artificial intelligence in the education sector market, and this is further expected to increase rapidly over the forecast period.
Rising need for better-customized learning experience in the education sector is expected to further stimulate growth of the artificial intelligence in the education sector market during the forecast period. Rising adoption of e-learning solutions and digitization in the education industry is expected to support global artificial intelligence in the education sector market growth going forward.
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Artificial intelligence-driven software is highly vulnerable to cyber-attacks, which is expected to restraint growth of the global artificial intelligence in the education sector market to a certain extent over the forecast period.
Segments Covered in the report.
| Report Details | Outcome |
| The market size in 2019 | USD 1.08 Billion |
| CAGR (2023–2032) | 43.8% |
| The revenue forecast in 2032 | USD 109.63 Billion |
| Base year for estimation | 2019 |
| Historical data | 2016–2018 |
| Forecast period | 2023–2032 |
| Quantitative units | Volume in tons, revenue in USD Billion, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Deployment, Technology, Application, End-use, and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Google LLC, Microsoft Corporation, Amazon Web Services, Inc., International Business Machines Corporation, Cognizant Technology Solutions Corp, Pearson PLC, Nuance Communications Inc., Blackboard Inc., Carnegie Learning, Inc., and Cognii, Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The market for artificial intelligence in the education sector is fragmented, with a substantial number of large- and medium-sized players accounting for a significant revenue share in the global market. Some key players are:
• Google LLC
• Microsoft Corporation
• Amazon Web Services, Inc.
• International Business Machines Corporation
• Cognizant Technology Solutions Corp.
• Pearson PLC
• Nuance Communications Inc.
• Blackboard Inc.
• Carnegie Learning, Inc.
• Cognii, Inc.
Strategic Development
- In September 2020, Carnegie Learning, Inc. announced the acquisition of Scientific Learning Corporation. Through the acquisition, Carnegie Learning will strengthen its education technology portfolio to enhance student learning outcomes.
- In January 2020, Smart Sparrow Pty Limited was acquired by Pearson PLC. The acquisition will significantly boost Pearson's existing adaptive learning capability and further drive the deployment of Pearson's Global Learning Platform (GLP).
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Key Highlights of Report
- Due to considerably high adoption of virtual assistance and cost-effective cloud-hosted learning management systems in educational institutions, the cloud-based segment is projected to register steady growth in terms of revenue share during the forecast period.
- Due to growing demand for enhancing learning experience with personalized courses and allowing for a flexible learning period, the intelligent tutoring system segment is expected to register a substantially high revenue CAGR of 43.9% during the forecast period.
- Rising need for reducing the training gap in workplace learning is resulting in increasing deployment of AI-based solutions commercially, and hence the corporate learning segment is projected to register substantial growth in terms of revenue during the forecast period.
- Rising government emphasis on improving education systems and emergence of digitization in the education sector in countries in Asia Pacific are key factors expected to support revenue growth of the market in the region to a significantly extent during the forecast period.
- In November 2019, Lumerit Education, LLC was acquired by Pearson PLC. This acquisition will strengthen Pearson’s online learning capabilities.
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Emergen Research has segmented the global artificial intelligence in the education sector market on the basis of deployment, technology, application, end-use, and region.
- Deployment Outlook (Revenue, USD Billion; 2023–2032)
- Cloud-based
- On-premises
- Technology Outlook (Revenue, USD Billion; 2023–2032)
- Natural Language Processing
- Deep Learning
- Machine Learning
- Application Outlook (Revenue, USD Billion; 2023–2032)
- Virtual Learning Environment
- Smart Content
- Intelligent Tutoring Systems
- Others
- End-use Outlook (Revenue, USD Billion; 2023–2032)
- K-12 Education
- Higher Education
- Corporate Learning
- Regional Outlook (Revenue, USD Billion; 2023–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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