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(I-SoftwareNews.Com, November 22, 2018 ) The report "AI in Education Market by Technology (Deep Learning and ML, NLP), Application (Virtual Facilitators and Learning Environments, ITS, CDS, Fraud and Risk Management), Component (Solutions, Services), Deployment, End-User, and Region - Global Forecast to 2023", MarketsandMarkets forecasts the global Artificial Intelligence (AI) in education market to grow from USD 537.3 Million in 2018 to USD 3,683.5 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 47.0% during the forecast period. The AI technology is playing a crucial role in enhancing and improving teachers’ and students’ knowledge. Additionally, the increasing adoption of the AI technology for various applications in the education sector and growing need for multilingual translators integrated with the AI technology are expected to drive the growth of the AI in education market.
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On the basis of deployment modes, the AI in education market is classified into cloud and on-premises. Among deployment modes, the cloud deployment mode is expected to have the larger market size during the forecast period. The adoption of the cloud deployment mode is growing, due to various reasons such as cost-effectiveness, the ease of deployment, and reduced operational cost.
In the Asia Pacific (APAC) region, the growing use of digital technology and increasing government support toward the education sector are expected to contribute to the growth of the AI in education market. Moreover, governments in this region are also investing in AI-powered technologies to enhance the quality of education delivered to students.
The AI in education market report encompasses the competitive landscape and company profiles of the key vendors based on their product offerings and business strategies. Major AI in education vendors include IBM (US), Microsoft (US), Bridge-U (UK), DreamBox Learning (US), Fishtree (US), Jellynote (France), Jenzabar (US), Knewton (US), Metacog (US), Querium Corporation (US), Google (US), AWS (US), Cognizant (US), Carnegie Learning (US), Century-Tech (UK), Cognii (US), Elemental Path (US), Liulishuo (China), Nuance Communications (US), Osmo (US), Pearson (UK), Third Space Learning (UK), Quantum Adaptive Learning (US), ALEKS (US), and Blackboard (US).
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MarketsandMarkets
Mr. Shelly Singh
1-888-600-6441
sales@marketsandmarkets.com
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