Global Artificial Intelligence in Education Market: Introduction
Education is one of the fastest growing industry verticals adopting artificial intelligence. This is due to the growing advancement in artificial intelligence and machine learning across the globe in various industries. AI can respond to ambiguous real-world inputs probabilistically, which is one of its critical features in the education industry. The major application of artificial intelligence in education includes analytics; bots; robotic process automation (RPA); and report generation.
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Global Artificial Intelligence in Education Market – Dynamics
Increasing Preference for Personalized Educational Services
Customer preference varies widely in the current market scenario of education. Artificial intelligence has helped educational institutes and students to customize and personalize the service according to the needs of the end-user. AI has helped educational institutions to develop skills and testing systems in education.
Unawareness and Poor System Infrastructure
Fastest growing regions such as South America and Asia Pacific face strong technological and digital gaps within the education industry. The level of awareness in the education industry with regards to AI is comparatively low in countries such as India and other Asian countries. The network infrastructure to efficiently run artificial intelligence in the education industry at a remote location is not very effective. Thus, unawareness about artificial intelligence in education and poor network infrastructure is hampering the growth of the market.
North America to Dominate the Global Artificial Intelligence in Education Market
In terms of region, the global artificial intelligence in education market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the artificial intelligence in education market during the forecast period due to its strong dominance in artificial intelligence across the globe.
COVID-19 Impact on the Global Artificial Intelligence in Education Market
The COVID-19 pandemic is expected to moderately impact the global artificial intelligence in education market for a short-term period. The lockdown has resulted in total shutdown of educational institutes, which has led to low investment in artificial intelligence at educational centers.
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Global Artificial Intelligence in Education Market – Competition Landscape
- In July 2020, University of Florida has announced a US$ 70 Mn partnership with NVIDIA for a new AI supercomputer based on NVIDIA DGX SuperPOD architecture. An additional US $20 Mn investment has created an AI-centric data center that houses the world’s fastest AI supercomputer in higher education.
Cognii, Inc. was founded in year 2013 and is headquartered in San Francisco, US. Cognii, Inc. is a leading provider of artificial intelligence based educational technology. The company offers assessment technology to evaluate answers for online learning platforms.
Global Artificial Intelligence in Education Market: Segmentation
The global artificial intelligence in education market can be segmented based on:
Global Artificial Intelligence in Education Market, by Component
Based on component, the global artificial intelligence in education market can be divided into:
Global Artificial Intelligence in Education Market, by Application
In terms of application, the global artificial intelligence in education market can be segregated into:
- Robotic Process Automation (RPA)
- Reporting & Compliance
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.