The Market Forecast for Generative AI is remarkable in its predicted growth.
On June 1, 2023, Bloomberg published an article entitled "Generative AI to Become a $1.3 Trillion Market by 2032, Research Finds".
The article, found HERE, suggests the potential growth could reach 42% over the coming decade, with generative AI accounting for 10% of tech company spending, and generating $280 billion of software revenue alone.
Generative AI is predicted to be particularly significant in the fields of life sciences and Education.
This assessment bodes well for companies such as Eduaide.Ai as they seek to provide services to the education sector. If Bloomberg is correct, and they are far from the only economic analysts who are making these predictions, the opportunity for Eduaide.Ai is vast.
There is robust competition for Eduaide.Ai as similar tools sprout up.
Eduaide.Ai is not the only company offering content creation services for educators. The competition includes Fetchy, MagicSchool, Diffit, and more. Differences between the companies include price variation, services offered, and partnerships. Eduaide has some work to do as some of the competition offers add-ons, connections with Google products, and so forth.
One notable competitive advantage that Eduaide.Ai has is pricing. Eduaide is both transparent and affordable. While Diffit does not post pricing on its website, Eduaide.Ai is clear and simple with its pricing. MagicSchool lists pricing for its Plus subscription, however, it is a notably higher monthly cost than Eduaide.Ai.
Eduaide.Ai also has the opportunity to set itself apart from competitors with its offerings. In addition to lesson plans, Eduaide.Ai is offering unit planning, assessment tools, feedback generators, report card comments, etc. This robust offering makes it unique from some of its competitors.
A Market Comparison - Eduaide.Ai vs. MagicSchool.Ai
Data supplied by similarweb.com
Total Visits Nov/23-Jan/24
Monthly Trend Nov/23-Jan/24
A market comparison of Eduaide.Ai and MagicSchool.Ai reveals that MagicSchool is significantly ahead of Eduaide.Ai in terms of total visits, duration of visits, pages viewed per visit, and limiting the bounce rate. Pages viewed per visit may be a deceiving statistic as this may be accounted for by a lesser need to visit additional pages to complete the task using Eduaide.Ai. Overall, this comparison indicates that MagicSchool.Ai currently has a greater share of the market than does Eduaide.Ai. Interestingly, similarweb.com also indicates that Eduaide.Ai has a greater market share in Canada than it does in the United States. These are early days, and neither tool has garnered mass users yet.
Financial statements have proven to be elusive, an indication that the Eduaide.Ai is not yet ready to share this information. I could not discover how many users are paying for the Pro upgrade, and will be watching for further information to emerge.