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Virtual Reality In Education Market Size, Growth, Share Analysis And Developments 2024-2033
Virtual Reality In Education Market
The Business Research Company offers in-depth market insights through Virtual Reality In Education Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The virtual reality in education market size has grown exponentially in recent years. It will grow from $11.8 billion in 2023 to $16.42 billion in 2024 at a compound annual growth rate (CAGR) of 39.2%. The growth in the historic period can be attributed to increasing adoption of online education, growing demand for interactive and personalized learning experiences, rising adoption of virtual learning environments, growing adoption of vr to replace physical learning materials, increased accessibility and mobility of education.
The virtual reality in education market size is expected to see exponential growth in the next few years. It will grow to $61.55 billion in 2028 at a compound annual growth rate (CAGR) of 39.1%. The growth in the forecast period can be attributed to increasing internet penetration rates, rising demand for immersive learning experiences, growing adoption of vr in k-12, higher education, and vocational training, continuous investments in research and development, growing investment in vr educational content development. Major trends in the forecast period include collaborative vr environments for group learning, use of vr for skill-based training and simulation, integration of gamification elements in vr education, development of vr educational analytics for performance tracking, integration of augmented reality (ar) with virtual reality in education.
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Market Segmentation:
The virtual reality in education market covered in this report is segmented -
1) By Component: Hardware, Solutions and Software
2) By Deployment: Cloud, On-Premises
3) By Application: Residential, Academic And Training Institutions, Other Applications
Major Driver - Expanding Internet Penetration To Boost Virtual Reality In Education Market
The increasing internet penetration will drive the growth of virtual reality in the education market during the forecast period. The internet plays a crucial role in people's lives today as a large portion of the population's lives are immersed in digital technology. The internet has become an effective platform for conducting virtual courses due to its consistent interface, lower connection cost, and universal appeal. For instance, according to the Internet World Stats report, global internet users reached 5.1 billion as of March 2021. Furthermore, according to the Techjury report, the global E-learning sector is expected to reach $325 Billion by 2021. Therefore, the increasing internet penetration propels the virtual reality in the education market growth.
Competitive Landscape:
Major companies operating in the virtual reality in education market report are Google LLC, Microsoft Corporation, Facebook Technologies LLC, International Business Machines Corporation, HTC Corporation, Unimersiv, SamsungSamsung Electronics Co Ltd, Lenovo Limited, Sony Corporation, Alchemy Immersive, Avantis Systems Ltd., Veative Labs Pvt. Ltd., VR Education Holdings plc, Cyberith Gmbh, Sixense Enterprises Inc., Vuzix Corporation, Schell Games LLC, Panasonic Holdings Corporation, Cornerstone OnDemand Inc., Blippar Limited, EON. Reality Inc., Treeview Co. Ltd., YORD Ltd., Immersive VR Education Limited, ThingLink Incorporated, Nearpod Inc., Oust Labs Pvt. Ltd., Filament Games LLC, Foundry 10, eXp World Technologies LLC
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Top Trend - Leveraging 5G Technology To Enhance Augmented Reality In Education
The development of Augmented Reality (AR) applications by leveraging the upcoming 5G technology is shaping virtual reality in the education market. With its high-speed network, 5G provides hands-on experience and helps access apps easily, whereas 4G technology struggles with the use of Virtual or Augmented Reality in educational applications. These robot applications help children to solve learning issues, allowing them to get an education from the comfort of their own homes while also allowing them to access cloud-based material more quickly. For instance, in March 2021, Fisk University, HTC VIVE, T-Mobile, and VictoryXR partnered to launch the first-ever interactive 5 G-enabled VR human cadaver lab for learning delivery to pre-med and biology-related majors.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Virtual Reality In Education Market Characteristics
3. Virtual Reality In Education Market Trends And Strategies
4. Virtual Reality In Education Market - Macro Economic Scenario
5. Virtual Reality In Education Market Size And Growth
…..
27. Virtual Reality In Education Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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