AI-based eLearning is booming

AI based eLearningHong Kong | No matter who anyone listens to regarding the market outlook for AI-based eLearning solutions, they all agree that the corresponding market value will increase significantly in the coming years. In a recent market study, the Chinese analyst QY Reports, for example, assumes that AI-based eLearning solutions are likely to grow by 14% per annum between 2019 and 2025. Other market researchers such as Technavio from Canada even assume annual growth of 28 % in the forecast period 2019 to 2023.

Not only the growth dynamics, but also the market value, is assessed differently by different analysts. Global Market Insights, for example, assumes that an annual market value for AI-based eLearning of 6 billion US Dollars should be achieved in 2024. If one considers that the global eLearning market is expected to amount to approximately 300 billion US Dollars per year by then, it becomes clear that AI-based eLearning is booming but is still only a small segment of the overall market.

The reasons for the market growth are numerous. Technavio, for example, assumes that the increased integration of AI-based eLearning in companies and a more targeted promotion of the workforce are primarily responsible for the growth. The US market researcher Global Market Insights, on the other hand, sees educational institutions and the associated state investments as the main reason for growth in the coming years. According to the market researchers, the North American market and the APAC market will be particularly exciting in the coming years in terms of the corresponding market development. For example, Global Market Insights assumes that the market in the APAC region is currently growing at an annual rate of 51 % up to 2024, which is partly due to government investment by the Chinese government. On the other hand, many market researchers admit that the US market has the largest market share to date. Technavio also assumes that 71% of market growth in the coming years up to 2023 will come from North America, as the industry giants Microsoft, IBM and Google are based here.

Image: © Sergy Nivens –