AI in Education Market Statistics – Key Trends & Figures For 2024

Kate Sukhanova, Senior Statistics Contributor, Techreport.com

Artificial Intelligence (AI) is revolutionizing the education sector, impacting various areas such as personalized learning, grading assistance, and curriculum generation. The AI in education market, valued at $2.5 billion in 2022, is projected to surpass $80 billion by 2032, driven by rapid advancements in generative AI, natural language processing (NLP), and machine learning (ML).

Key Statistics:

  • Market Growth: AI in education is forecast to grow at a CAGR of 43.3%, reaching $88.2 billion by 2032.

  • Personalized Learning: Expected to grow from $5.2 billion in 2022 to $48.7 billion by 2030.

  • Student Impact: 73% of students report better understanding, and 63% study more efficiently with AI tools.

Market Segments:

  1. Personalized Learning: AI tailors lesson plans based on individual student needs, enhancing differentiated learning.

  2. Automated Assessments: AI reduces educators' administrative burdens by automating grading and other tasks.

  3. Learning Accessibility: AI tools, such as text-to-speech, aid students with disabilities, improving inclusivity.

  4. Curriculum Generation: AI helps in creating and adapting curricula, making it easier for educators to plan lessons.

Demographics and Opinions:

  • General Sentiment: 37% of men and 27% of women see AI's impact on education as positive.

  • Teaching AI Skills: Over half of the surveyed men (53%) and women (51%) believe schools should teach AI usage.

Key Players in EdTech AI:

  1. Riiid: Known for AI tutoring solutions, with significant user engagement and substantial funding.

  2. Elsa: Focuses on AI-driven language learning, helping non-native speakers improve their pronunciation.

  3. Amira: Provides intelligent reading assistance, catering to students' diverse reading abilities.

  4. Cognii: Offers NLP-centered solutions for K-12 and higher education, focusing on assessments and adaptive learning.

Future Trends:

  • Immersive Learning: Integration of AI with augmented reality (AR) and virtual reality (VR) to create interactive learning experiences.

  • Data-Driven Decision Making: AI analytics will help educators make informed decisions based on comprehensive student data.

  • AI Skills Development: Increasing emphasis on teaching AI skills to prepare students for future job markets.

Ashantha KaluarachchiAI, Education