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Metaverse In Education Market Size, Strategies, Industry Opportunities, Trends And Forecast To 2033
Metaverse In Education Market Analysis
The Business Research Company's Metaverse In Education Global Market Report 2024 identifies increasing demand for virtual learning as the major driver for the metaverse in education market's growth in the forecast period. Virtual learning is an educational environment where learners participate in a digitally based curriculum and are instructed by professors who deliver lectures online via video or audio. The metaverse in education helps improve the quality of education in virtual learning environments by leveraging virtual and augmented reality technologies.
The metaverse in education market size has grown exponentially in recent years. It will grow from $8.11 billion in 2023 to $11.34 billion in 2024 at a compound annual growth rate (CAGR) of 39.8%. The growth in the historic period can be attributed to growing demand for immersive learning experiences, growing support from governments and educational institutions, increase in industry training and deployment in the education sector, increased demand for e-learning.
The metaverse in education market size is expected to see exponential growth in the next few years. It will grow to $43.35 billion in 2028 at a compound annual growth rate (CAGR) of 39.8%. The growth in the forecast period can be attributed to growing number of start-ups focusing on developing metaverse platforms, rising interest in self-regulation skills, globalization of education, rapid use of virtual technologies in the education sector. Major trends in the forecast period include increased access to technology, expanding acceptance of the metaverse and its tools, rising spending on metaverse-related learning, ai-powered personalization, virtual libraries and archives, creating virtual classrooms.
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Major competitors in the metaverse in education market are Microsoft Corporation, Meta Platforms Inc., Baidu Inc., Epic Games Inc., Roblox, Arizona State University, Rec Room, Linden Lab, Labster.
A key trend in the metaverse in education market includes leading companies in education metaverse embrace mixed reality for advanced solutions. Major companies operating in the metaverse in the education market are focused on developing advanced solutions, such as mixed reality to sustain their position in the market. Mixed reality is an immersive technology that combines physical and digital elements to interact with each other. For instance, in November 2021, Microsoft Corporation, a US-based technology company, launched Microsoft Mesh. The new feature combines Microsoft Teams' productivity tools with the mixed-reality capabilities of Microsoft Mesh, which enables people in various physical locations to participate in collaborative and shared holographic experiences. Mesh expands on current Teams capabilities like together mode and presenter mode, which enhance collaboration and immersion in distant and hybrid meetings. The users of Mesh for Teams can enter virtual environments with their unique, customized avatars to experience the virtual meetings that lead to innovation.
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The metaverse in education market is segmented -
1) By Component: Hardware, Software, Professional Services
2) By Deployment: Cloud, On-Premise
3) By Application: Learning, Skill Development, Educational Apps, Self-Regulation Skills, Cultural Understanding, Other Applications
4) By End-User: K-12, Higher Education, Corporate Training
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the metaverse in education market.
The Business Research Company's "Global Metaverse In Education Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Metaverse In Education Market Include:
1. Executive Summary
2. Metaverse In Education Market Characteristics
3. Metaverse In Education Market Trends And Strategies
4. Metaverse In Education Market - Macro Economic Scenario
5. Global Metaverse In Education Market Size and Growth
……..
32. Global Metaverse In Education Market Competitive Benchmarking
33. Global Metaverse In Education Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Metaverse In Education Market
35. Metaverse In Education Market Future Outlook and Potential Analysis
36. Appendix
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