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Artificial Intelligence (Ai) In The Education Sector Market size is set to grow by USD 2.32 billion from 2024-2028, Growing emphasis on customized learning paths using ai boost the market, Technavio

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NEW YORK, Aug. 7, 2024 /PRNewswire/ — The global artificial intelligence (AI) in the education sector market size is estimated to grow by USD 2.32 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 52.65% during the forecast period. Growing emphasis on customized learning paths using AI is driving market growth, with a trend towards increased emphasis on chatbots. However, high cost associated with ai poses a challenge. Key market players include 2U Inc., Alphabet Inc., Amazon.com Inc., Brainly, Carnegie Learning Inc., Century Tech Ltd., Cognii Inc., Cognizant Technology Solutions Corp., DreamBox Learning Inc., Fishtree Inc., International Business Machines Corp., Jenzabar Inc., John Wiley and Sons Inc., Kaltura Inc., LAIX Inc., McGraw Hill LLC, Microsoft Corp., n2y LLC, Pearson Plc, and Quantum Adaptive Learning LLC.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Artificial Intelligence (AI) In The Education Sector Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 52.65%

Market growth 2024-2028

USD 2321.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

37.35

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 43%

Key countries

US, China, UK, Germany, and Canada

Key companies profiled

2U Inc., Alphabet Inc., Amazon.com Inc., Brainly, Carnegie Learning Inc., Century Tech Ltd., Cognii Inc., Cognizant Technology Solutions Corp., DreamBox Learning Inc., Fishtree Inc., International Business Machines Corp., Jenzabar Inc., John Wiley and Sons Inc., Kaltura Inc., LAIX Inc., McGraw Hill LLC, Microsoft Corp., n2y LLC, Pearson Plc, and Quantum Adaptive Learning LLC

Market Driver

Artificial Intelligence (AI) chatbots are revolutionizing the education sector by providing personalized learning experiences for students. Utilizing AI, Machine Learning (ML), and deep learning technologies, these chatbots store, process, and communicate data to students. They perform various functions, including answering queries, assessing and correcting assessments, and facilitating conversations. Georgia Tech’s Jill Watson, an IBM virtual teacher assistant, is an example of this innovation. Chatbots can identify a student’s study pattern and offer customized learning pathways. They can also help students learn at spaced intervals by repeating old lessons at optimal times. The increasing adoption of online learning models will drive the demand for chatbots in education, creating new business opportunities for vendors.

Artificial Intelligence (AI) is revolutionizing various industries, including Education. AI technology, such as machine learning, computer vision, and deep learning, is transforming how we learn. In the Education sector, AI is used for personalized learning, automated grading, and content creation. The IT & telecommunication industry, Retail & e-commerce, BFSI, and Media & Entertainment industries are leading AI adoption. Large enterprises in the Education sector are deploying AI on-premises and in the cloud. AI is used in Sales & Marketing for student engagement, Supply Chain Management for resource allocation, Human Resource Management for recruitment, Finance & Accounting for financial forecasting, Cybersecurity for data protection, and Legal & Compliance for regulatory adherence. Netflix, Amazon, Anthropic, and others use AI for content creation and recommendation. AI market trends include generative AI, big data analytics, robotics, and chatbots. AI tools like ChatGPT and AI art generators are transforming business models. Autonomous AI, algorithms, and machine learning techniques are driving innovation. Data availability and quality are crucial for effective AI implementation.

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Market Challenges

The implementation of Artificial Intelligence (AI) in the education sector faces significant financial barriers. The high cost of developing, procuring, and maintaining AI solutions is a major hindrance to its widespread adoption. Schools and educational institutions require substantial funding to cover the expenses of installing AI software and the ongoing costs of maintenance. The availability of AI solutions is increasing, but the high research and development costs, capital expenditure, and sustainability risks limit their affordability for many public educational institutions. These financial constraints hinder schools from offering students advanced learning environments and resources, and make it challenging for vendors to enter the market. Consequently, the high cost of AI is expected to impede the growth of the global AI market in the education sector.The Artificial Intelligence (AI) market in education is rapidly growing, with AI technologies like Big Data analytics, robotics, and chatbots transforming the sector. Companies like ChatGPT and AI art generators offer innovative solutions, but challenges persist. The technology roadmap includes business models, autonomous AI, algorithms, and machine learning techniques like natural language processing. Data availability and quality are crucial, with potential issues of bias and inaccurate output. Software and service providers offer solutions, while cloud, network, and security providers ensure infrastructure. Ethical and regulatory concerns, privacy issues, and AI-driven automation in customer service are key challenges. Edge AI and edge computing components like deployment mode, enterprise size, business function, and industry vertical are also important considerations. Hardware, software, and the use of supercomputers and quantum computers with deep learning techniques are part of the technology landscape.

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Segment Overview

This artificial intelligence (ai) in the education sector market report extensively covers market segmentation by

End-user1.1 Higher education1.2 K-12Learning Method2.1 Learner model2.2 Pedagogical model2.3 Domain modelGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Higher education- The global artificial intelligence (AI) market in the education sector is projected to expand at a consistent rate. Universities and colleges worldwide are integrating AI tools to enhance education quality and offer personalized learning experiences. AI solutions, such as IBM’s Watson, are used for automating administrative tasks, reducing costs, and minimizing errors. Grading processes are also being streamlined with AI-driven programs like Gradescope, which allows simultaneous assessment of multiple assignments and provides comprehensive student performance analysis. Federal funding, collaborations, and the growing emphasis on AI-driven virtual assistants and Intelligent Technology Systems (ITS) are key growth drivers for the AI market in education during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Artificial Intelligence (AI) market is witnessing rapid growth, driven by advancements in machine learning and data analytics. In the US education sector, AI’s adoption is transforming learning experiences with personalized education tools, intelligent tutoring systems, and administrative efficiency. The market is projected to expand significantly, with AI enhancing student engagement and outcomes while streamlining educational operations. Key players are investing heavily in AI-driven solutions to address evolving educational needs and improve institutional performance. The sector’s focus on innovative technologies promises continued growth and transformation.

Research Analysis

Artificial Intelligence (AI) is revolutionizing the education sector with its ability to process big data analytics, enhance learning experiences, and automate administrative tasks. AI technologies such as robotics, chatbots, AI art generators, and generative AI tools are transforming teaching and learning. The technology roadmap for AI in education includes the use of algorithms and machine learning techniques like deep learning and natural language processing. Data availability and quality are crucial for effective AI implementation, with potential challenges including bias and inaccurate output. Software providers, service providers, cloud providers, network providers, and security providers are essential partners in this transformation. Computer science education is increasingly focusing on AI algorithms, while supercomputers and quantum computers power advanced research. AI’s business models range from freemium to subscription-based, with autonomous artificial intelligence set to redefine education delivery.

Market Research Overview

The Artificial Intelligence (AI) market in the education sector is experiencing significant growth, driven by advancements in Big Data analytics, robotics, and AI technologies like ChatGPT and AI art generators. The technology roadmap includes generative AI tools, algorithms, machine learning techniques, natural language processing, and deep learning. Business models in the sector vary, with software providers, service providers, cloud providers, network providers, and security providers offering solutions. Autonomous AI and ethical concerns, regulatory issues, and privacy are key considerations. AI-driven automation includes chatbots and virtual assistants for customer service. Edge AI and edge computing are gaining popularity for deployment. The education industry, along with IT & telecommunication, retail & e-commerce, BFSI, and media & entertainment industries, are major adopters. Deployment modes include on-premises and cloud, with large enterprises being the primary consumers. Functions like sales & marketing, supply chain management, human resource management, finance & accounting, cybersecurity, and legal & compliance are also utilizing AI. Hardware, software, and services are essential components of the technology. Supercomputers and quantum computers are powering advanced AI applications. Machine learning techniques, computer vision, and generative AI are transforming education. However, challenges like data availability, data quality, bias, and inaccurate output must be addressed.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userHigher EducationK-12Learning MethodLearner ModelPedagogical ModelDomain ModelGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Orion Innovation Names Brian Bronson Chief Executive Officer

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Technology Industry Executive and Leader to Drive Next Phase of Company Growth

EDISON, N.J., Nov. 15, 2024 /PRNewswire/ — Orion Innovation (“Orion”), a leading digital transformation and product development services firm, today announced the appointment of Brian Bronson as Chief Executive Officer, effective immediately. With over 25 years of leadership experience across global technology sectors, Bronson will lead Orion’s next phase of growth and transformation, focusing on expanding the company’s digital capabilities and market presence. Brian succeeds Raj Patil, who will transition to an advisory role with the company and One Equity Partners.

“Brian’s impressive track record of driving profitable growth and leading large-scale organizational transformation makes him the ideal leader for Orion’s next chapter,” said Carlo Padovano, Partner at One Equity Partners and Lead Director of Orion Innovation. “His deep expertise in product engineering, GenAI adoption, and digital transformation perfectly aligns with our vision for Orion’s future.

On behalf of the Orion Board, I’d like to thank Raj for his leadership and dedication in helping develop Orion into a market leader. Raj will transition to an advisory role with the company and One Equity Partners.”

“I’m honored to take on this role and excited about the tremendous opportunities ahead for Orion,” said Bronson. “The company has built an impressive foundation with a blue-chip roster of clients, a global delivery platform, and a talented team with deep domain and engineering expertise. I look forward to working closely with our employees, clients, and partners as we deliver transformative solutions to our clients, drive innovation, and scale our capabilities.”

Before joining Orion, Brian served as EVP of US Telecom, Media, and Entertainment at Capgemini. Additionally, he led the integration and execution of Capgemini’s global engineering services business across the Americas and Asia. This included driving growth in many industries leveraging innovative capabilities tied to 5G, connectivity, and software product engineering. Previously, as President & CEO of Radisys, a leading provider of open telecom solutions, he led the company’s strategic transformation from a hardware company to a provider of cutting-edge software and enabling technologies for the telecom, technology, and medical industries. This transformation culminated in the sale of Radisys to Reliance Industries in 2018, marking a successful exit for the company.

About Orion Innovation

Orion Innovation (“Orion”) is a leading digital transformation and product development services firm. Rooted in engineering and design thinking, along with a unique combination of agility, scale, and maturity, its team of approximately 6,400 associates helps Fortune 1000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in North America, EMEA, India and Latin America, Orion serves clients across Telecom, Media & Technology, Sports & Entertainment, Professional Services, Financial Services, and Healthcare industries. For more information, visit www.orioninc.com

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

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Morrison Securities launches one of Australia’s first plug-and-play global trading to 15 countries with ViewTrade

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Equities clearing business Morrison Securities (“Morrison”) is launching one of Australia’s first plug-and-play global trading to 15 countries with trading technology provider ViewTrade.

This will mean Morrison’s 38,000+ active clients trading $30 billion annually will only need to go through KYC once and then will be provided unprecedented rapid global trading access.

Morrison will now also offer enhanced global equity and options trading, fixed income, ETFs, seamlessly integrate domestic and global trading, and choice between fully disclosed or omnibus operating models.

ViewTrade has calculated that implementation of solutions like this across all of Australia’s global trading could generate efficiencies of nearly $240 million annually.

A business the size of Morisson launching this solution is a watershed moment for enhancing global opportunities for Australia’s wealth management sector, according to ViewTrade.

Nigel Singh, CEO of ViewTrade International Australia, said: “We are excited to work with Morrison Securities. Together, we are unlocking a world of investment opportunities for Australians. By accessing global markets, firms can offer their clients more diversified portfolios, reducing risk and protecting wealth. This benefits both domestic and international clients. We invite other firms to join us in this partnership and unlock the potential of global market access.”

William Slack, CEO of Morrison Securities, said: “We’ve designed a solution that integrates global market access into our domestic offering for a superior customer experience. With our combined expertise, we’re confident in delivering an efficient, scalable solution tailored to the specific needs of our clients.”

Laksh Gangwani, Chief Revenue Officer – APAC and Middle East at ViewTrade, added: “We are thrilled about the partnership with Morrison Securities as they launch one of Australia’s first plug-and-play global trading solutions to 15 countries. Morrison’s integrated approach to technology, compliance, and operations is enabling investors to complete KYC once, while accessing multiple markets and asset classes with ease. This will ensure Australian investors can build diversified international portfolios with ease.”

ViewTrade (www.viewtrade.com) is a global leader in investment and trading infrastructure solutions that power cross-border investing for financial services firms throughout the world. ViewTrade provides the technology, support, and brokerage services that business innovators need to launch or enhance retail investing experiences. For more than 20 years, ViewTrade has partnered with over 300 clients – from technology startups to large banks, brokers and advisors – to deliver innovative investment solutions and exceptional customer service.

Morrison Securities (https://www.morrisonsecurities.com/) Established in 1985, Morrison Securities is an Australian Broking firm specialising in trading, execution, and clearing services tailored to advisory firms and wholesale clients. They partner with firms to navigate operational challenges and help them realise their full potential. Their comprehensive suite of solutions covers seamless international market access, advanced equities and options trading, capital raising and DVP settlement services, integrated APIs, and stock lending. With a platform-agnostic approach and enterprise-level client service, they prioritise operational excellence and long-term partnerships.

 

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SOURCE ViewTrade

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Australia’s least-favourite chores just got easier with Roborock’s Black Friday & Cyber Monday deals

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Roborock, the global best-selling robot vacuum brand[i], is thrilled to announce its exclusive deals for Black Friday and Cyber Monday 2024.

Starting from 21 November to 4 December 2024, Roborock is offering significant discounts on a wide range of popular models, with savings of up to $700 – including popular models such as the S8 MaxV Ultra, Qrevo MaxV, Q8 Max+, Qrevo Master, Qrevo S, and Flexi Pro.

In a recent survey conducted across Australia, Roborock found that 27% of Australians would happily skip cleaning their floors forever, with many Aussies also admitting to neglecting high-maintenance tasks such as vacuuming, mopping, and appliance cleaning. With these cleaning challenges in mind, Roborock is offering unbeatable savings on popular models across Black Friday and Cyber Monday, with savings of up to $700.

The deals are available at Robrock Australia’s Official Online Store, Roborock’s Amazon storefront and all authorised retailers.

 Black Friday & Cyber Monday Deals

S8 MaxV Ultra – (SAVE $700) – MSRP $2,999 / Promo: $2,299The S8 MaxV Ultra is the company’s most powerful one-stop cleaning solution, combining the company’s most sophisticated deep cleaning technology with user-friendly features. The model introduces a unique robotic arm and an extra mop that efficiently cleans challenging areas with complete corner cleaning capabilities. Newly launched.Qrevo Master – (SAVE $700) – MSRP $2,699 / Promo: $1,999Newly launched and the most advanced model in the mid-range Qrevo series, the Qrevo Master is built for those who seek top-of-the-line cleaning technology at a mid-range price point. With high-powered suction, deep corner cleaning capabilities, and complete self-maintenance features, it’s designed to tackle the toughest cleaning challenges effortlessly.

Qrevo MaxV – (SAVE $700) – MSRP $2,199 / Promo: $1,499Offers users a complete hands-free floor cleaning experience at the mid-range price point, taking both vacuuming and mopping off your plate while combining powerful cleaning functions, self-maintenance capabilities, and intelligent features such – as pet recognition from flagship models – into one convenient cleaning package.

Qrevo S – (SAVE $400) – MSRP $1,499 / Promo: $1,099Newly launched, the Qrevo S is ideal for those looking for their first robot vacuum that excels at both vacuuming and mopping with self-maintenance features. It blends cleaning performance with a streamlined design for everyday cleaning.

Q8 Max+ – (SAVE $500) – MSRP $1,299 / Promo: $799The Q8 Max+ delivers high-performance cleaning with enhanced navigation and automatic dirt disposal. It’s equipped with powerful suction and a flagship roller brush system making it perfect for homes with mainly hard floors, ensuring a deep and thorough clean.

Flexi Pro – (SAVE $300) – MSRP $999 / Promo: $699 (Available starting 14th November)The Flexi Pro is a versatile handheld vacuum option designed for deep floor cleaning and tight spaces. Capable of handling both wet and dry messes, and the ability to clean itself after every clean-up, the Flexi Pro tackles all types of messes with ease.

According to Roborock’s recent survey, garages are the dirtiest spaces in Australian homes, with 46% of respondents admitting they need more attention. Other problem areas include bathrooms (41%), kitchens (38%), and even kids’ playrooms (32%). Given the demands of busy lives, it’s easy to see why some chores fall through the cracks.

With these exclusive Black Friday and Cyber Monday offers, Roborock makes it easier than ever for Aussies to maintain a clean and comfortable home – without the hassle. Whether it’s tackling neglected garages, high-traffic kitchens, or hard-to-reach corners in the bathroom, Roborock’s innovative products are ready to take on the task.

For more information on Roborock products, please visit https://au.roborock.com  

-ENDS-

Notes to Editors: 

The Roborock survey was conducted by TGM Research and involved 1,028 nationally representative respondents across Australia. The survey aimed to understand the cleaning habits, preferences, and challenges faced by Australians ahead of the launch of Roborock’s Qrevo Master, Qrevo S and H5. 

About Roborock     

Roborock is a leading smart cleaning brand renowned for its intelligent cleaning solutions. With a steadfast dedication to becoming a global leading smart appliance player, Roborock enriches liveswith its innovative line of robotic, cordless, wet/dry vacuum cleaners, and washer-dryers. Rooted in a user-centric approach, our R&D-driven solutions cater to diverse cleaning needs in over 15 million homes across 170+ countries.  Headquartered in Beijing and with strategic subsidiaries in key markets, including the United States, Japan, the Netherlands, Poland, Germany, and South Korea, Roborock is dedicated to elevating its market presence worldwide. For more information, visit https://au.roborock.com/.    

[i] [1] The data comes from Euromonitor International (Shanghai) Co., Ltd. The sales figures of robotic vacuum cleaners worldwide in the first three quarters of 2023 (in RMB hundred million) were used for calculation. Roborock ranks first in the industry. Robotic vacuum cleaner refers to vacuum cleaners that automatically move around rooms using sensors to clean floors. The research was completed in February 2024.

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SOURCE Roborock

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