AI in education – soon a global market value of 6 billion dollars?

Selbyville (Delaware) | Nowhere else in the world than in the USA is there a larger market for artificial intelligence in education. This is the conclusion reached by the market research company “Global Market Insights”. According to a new market analysis conducted there, 60% of all global sales of AI educational products can currently be allocated to the American market. Universities currently generate over 50 percent of global sales in the AI product sector in education, as stated by Global Market Insights. Global Market Insights expects the growth of the global market as a whole described above to be further boosted by rising investments and to exceed the USD 6 billion threshold by 2024. Exorbitant growth will be brought about by the forecast of Global Market Insights, the use of AI in the Asia-Pacific region, where sales are expected to grow by an average of 51% annually until 2024. Government investments in digitization, especially in China, would contribute to this.

Reasons for the growth, according to “Global Market Insights”, include increased use in educational institutions which, for example, increasingly use tutorial systems characterized by artificial intelligence, so-called adaptive learning systems, and thus want to make personalized and individual learning possible. But also, in an improved acceptance of technology-based learning in general, which goes hand in hand with society’s greater dependence on smartphones, tablets and laptops in everyday life.

But growth-inhibiting factors are also named in the forecast of “Global Market Insights”. Every IT system, for example, has its limitations. In addition, data security issues inevitably arise when the system is used. In addition, the AI education industry is also affected by the shortage of skilled workers following the analysis of “Global Market Insights”, which limits growth and change.

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