Global Artificial Intelligence In The Education Sector Expected To Reach $17 Billion By 2027
June 22, 2022 at 08:30 AM EDT
Palm Beach, FL – June 22, 2022 – FinancialNewsMedia.com News Commentary – Global artificial intelligence in the education sector market revenue is expected to increase significantly during the next several years due to increasing demand for real-time progress monitoring of learners/students, and efficient analysis solutions in the education and corporate learning industry. Increasing demand for unique and interactive virtual learning courses is expected to further fuel global artificial intelligence in the education sector market growth going ahead. Rising need for better-customized learning experience is further projected to augment growth of the global artificial intelligence in the education sector market. Increasing demand for Artificial Intelligence (AI) technology to simplify institutions’ administrative activities is expected to propel growth of the global artificial intelligence in the education sector market in the coming years. A report from Emergen Research projected that the global artificial intelligence in the education sector market is expected to reach USD 17.83 Billion by 2027, and register a CAGR of 43.8% during the forecast period. The report said: “In terms of revenue, the on-premises segment is projected to reach a market size of 12.73 USD Billion by 2027. On the basis of deployment, the global artificial intelligence in the education sector market is segmented into cloud-based and on-premises. On-premises segment is expected to account for the largest market share in the global artificial intelligence in the education sector market during the forecast period due to rising adoption of on-premise based AI solutions in universities and educational institutions to reduce cyber-attacks and data leakage. Cloud-based segment is expected to register steady growth in terms of revenue during the forecast period owing to significantly high application of virtual assistance and cost-effective cloud-hosted learning management systems in educational institutes globally.” Active Tech Companies in the markets today include: Amesite Inc. (NASDAQ: AMST), Microsoft Corporation (NASDAQ: MSFT), 2U, Inc. (NASDAQ: TWOU), Blackbaud (NASDAQ: BLKB), PowerSchool (NYSE: PWSC).
Emergen Research continued: “By end-use, the higher education segment is projected to expand at a high CAGR of 43.9% during the forecast period. On the basis of end-use, the global artificial intelligence in the education sector market is segmented into K-12 education, higher education, and corporate learning. Higher education segment is expected to account for the largest market share during the forecast period due to increasing adoption of AI in colleges and universities to improve the admission process. Colleges and universities can offer customized experiences for students by automating various processes related to administration during admissions. AI can be used to assist with immigration processes, student accommodation allocation, and course registration, among others. Corporate learning segment is expected to register significant growth in terms of revenue during the forecast period due to increasing demand to reduce training gap in corporate learnings; artificial intelligence enables instructors to track and evaluate trainee’s progress continually. Besides, AI can offer unique learning methods like game-based courses, which is expected to further augment revenue growth of this segment during the forecast period.”
Amesite Inc. (NASDAQ: AMST) BREAKING NEWS: Amesite Launches V5 Platform, Enabling Every Business, University and Museum to Deliver or Sell AI-Powered, Branded eLearning – Amesite Inc., a leading artificial intelligence software company offering a cloud-based learning platform and content creation services for business, university, non-profit, and government agency learning and upskilling, announces the expansion of its capabilities to serve larger entities, with the launch of Version 5.0 of its AI-driven online learning platform.
“According to the Department of Labor, there are more than 65,000 medium and large companies with over 250 employees in the U.S. Our platform is now an out-of-the-box solution for the enterprises that are onboarding, training, and upskilling large numbers of workers,” commented Dr. Ann Marie Sastry, founder, and CEO of Amesite. “Our larger customers have told us their needs and we listened – and now we’re delighted to be able to offer our proven, advanced features to the biggest markets in ed-tech.”
Version 5.0 of the Amesite Learning Community EnvironmentSM (LCE SM) delivers features and service attributes that offer scalability, security, flexibility and the ability to sell learning products:
The company aims to serve the incredible need for U.S. and Global upskilling. According to Statista, the U.S. workplace training industry was valued at approximately $165 billion in 2020. Global Market Insights expects eLearning revenue to reach $1T by 2028. CONTINUED… Read this full release for Amesite at: https://ir.amesite.com/
Other recent developments in the tech industry include:
Microsoft Corporation (NASDAQ: MSFT) was recently joined by Toronto Mayor John Tory to celebrate the official opening of its new Canadian headquarters and significant investments the company has made over the past four years across Canada. This news also coincides with the launch of new research from EY about Microsoft’s impact on the Canadian economy.
“Microsoft has been deeply rooted in Canada for nearly 40 years and our commitment to help grow Canada’s innovation economy has never been stronger,” said Kevin Peesker, President of Microsoft Canada. “With the launch of our new headquarters, official opening of our Data Innovation Centre of Excellence and expansion of our regional presence, even more organizations of all sizes and sectors can leverage the power of cloud and data to accelerate their organization’s growth and drive new economic opportunity for Canada.”
edX, a leading global online learning platform from 2U, Inc. (NASDAQ: TWOU), and the University of Maryland’s A. James Clark School of Engineering – ranked twelfth in the country in online engineering programs – recently announced the launch of a new Master of Professional Studies (MPS) in Product Management. This new degree from UMD, launched in partnership with edX, is one of the first fully-online product management graduate degrees available from an accredited non-profit college or university, and is offered at approximately $25,000.
Product management – named a top 10 ‘Best Job in America for 2022’ by Glassdoor – is a growing in-demand profession, with 24 percent annual growth in job openings and high earning potential. Following the success of its Product Management Professional Certificate program on edX, which has enrolled over 60,000 learners since it started in May 2020, UMD decided to develop and launch this competitively priced degree program with edX.
Blackbaud (NASDAQ: BLKB), the world’s leading cloud software company powering social good, recently announced the launch of Prospect Insights—a new software tool within Blackbaud Raiser’s Edge NXT® that enables social good professionals to access actionable, AI-powered insights to drive more major giving.
“Intelligent software is a necessary component of modern fundraising,” said Carrie Cobb, chief data officer, Blackbaud. “Social good organizations rely on major gifts, yet many have limited resources on staff to mine through multiple data sources and identify potential donors. Prospect Insights elivers that intelligence, inside of Raiser’s Edge NXT, to automate, simplify and improve the process and outcomes for the organization.”
PowerSchool (NYSE: PWSC), the leading provider of cloud-based software for K-12 education in North America, recently announced the School District of Newberry County (SDNC) in South Carolina has expanded their use of PowerSchool solutions to make more data-informed educational decisions. SDNC recently selected PowerSchool’s Unified Classroom® Performance Matters as its student assessment software solution after years of benefiting from PowerSchool Student Information System (SIS), PowerSchool’s Unified Classroom®Schoology Learning, and PowerSchool Enrollment. Upon completion of implementation, SDNC plans to leverage their PowerSchool solutions to offer more personalized and data-driven instruction to its students.
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