LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global artificial intelligence market in the education sector to grow at a CAGR of above 43% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the increasing emphasis on chatbots as one of the key emerging trends driving the global artificial intelligence market in the education sector. Chatbots have the ability to perform multiple functions such as answer queries and intelligently converse with students by replying to their emails. Globally, the increasing inclusion of chatbots in schools and colleges, is one of the major factor driving the growth of the market. Research on the applicability of chatbots are creating new opportunities for players in the market due to the increasing scope of chatbots.
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In this report, Technavio analysts highlight the increased adoption of ITS and IAL systems in the education sector as a key factor contributing to the growth of the global artificial intelligence market in the education sector:
Increased adoption of ITS and IAL systems in the education sector
The continuous innovation and increase in the number of ITS is one of the major factors catering to the growth of the market. A typical ITS is being used in many schools and colleges globally as it can interact with students without human intervention. Additionally, ITS can identify the student learning patterns and levels of understanding. Even though these systems are not available at a commercial level, with rapid advances in technology, they are expected to become prominent during the forecast period.
According to a senior analyst at Technavio for education technology, “In a conventional IAL software, the AI software embedded in the content tracks student interactions with the system and collects data that includes the milestones and credits achieved by the students. In terms of feedback, this data is reported to the student, the teachers, and educators. AI entails machine learning algorithms that create patterns from data and provide insights and feedback to teachers. Such insights and feedback allow teachers to identify the gaps in teaching and determine the area in which students are struggling with the subject matter, thereby augmenting the growth of the AI market in the education sector.”
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Global artificial intelligence market in the education sector – segmentation analysis
This market research report segments the global artificial intelligence market in the education sector into the following end-users, including higher education sector and K-12 sector and key regions, including the Americas, APAC, and EMEA.
Of the two major end-users, the higher education sector segment held the largest market share in 2017, accounting for nearly 67% of the market. The market share for this end-user is expected to decrease nearly 2% by 2022. The fastest growing end-user is K-12 sector, which will account for nearly 35% of the total market share by 2022.
The Americas was the leading region for the global artificial intelligence market in the education sector in 2017, accounting for a market share of nearly 50%. By 2022, APAC is expected to register positive growth.
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