Virtual Classroom Market Size to Grow USD USD 16020 Million by 2027 at a CAGR of 9.2% | Valuates Reports

Virtual Classroom Market

The global Virtual Classroom market size is projected to reach USD 16020 Million by 2027, from USD 8602.8 Million in 2020, at a CAGR of 9.2% during 2021-2027. Key drivers of the virtual classroom market include the rising adoption of augmented and virtual reality solutions in the corporate training and education sector. Continuous technological innovations in virtual classroom infrastructure and the increasing use of mobile applications will fuel the growth of the virtual classroom market during the forecast period.

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Trends Influencing the Global Virtual Classroom Market

Widespread acceptance of AR, VR

The integration of immersive technologies in employee training has revolutionized the corporate sector. For instance, virtual reality will allow employees to interact in real-time within a virtual environment with the online avatars of instructors. Augmented reality will provide enhanced flexibility and better access to relevant information. 3d models of different machines can be recreated so that workers and factory staff can exactly know the operational capacity of the equipment. Employees can put themselves in a real-world simulated environment where they can practice the learning multiple times. Practicing in an online world increases the retention rate drastically more than discussions, meetings, or lectures. It is highly beneficial in medical training where new interns can work on the 3D models of hearts without any risk or harmful consequences. This will boost the growth of the virtual classroom market in the forthcoming years. Organizations are using corporate LMS systems with gamification and introducing reward elements to stimulate the minds of employees and increase their overall engagement rate. The learning gets personalized as per individual needs. Furthermore, AR/VR has huge scope in the education space as virtual tours can be taken while sitting within the confines of the classroom itself. The learning becomes experiential and immersive. It drives self-learning and is a great tool for students with learning disabilities. The use of visual and sensory power makes remote learning engaging and interesting.

Technological advancements

The ubiquitous presence of smartphones and the onslaught of the pandemic have forced educational institutions to adopt digital learning solutions. Virtual classroom platforms are highly effective during emergencies as then teachers and students can quickly access the online content on the go. Education continues uninterrupted. A Digital learning environment offers better flexibility and accessibility. It can empower students to gain access to high-quality education even in geographically inaccessible areas. Moreover, schools can track using various learning analytic tools to monitor the progress of each student or to see whether they are spending time on the learning modules, attending live sessions, or submitting homework. Multiple doubt sessions can be conducted online through instant access. This leads to greater one-to-one interaction between students and teachers. As a result, the demand for the virtual classroom market will expand in the coming years. The streaming of high-quality audio-video solutions with webcams presents clear images and makes the viewing experience intuitive and engaging. One can record the video sessions for later discussions or reviews. Extra videos can be shared instantly with the students to cover certain topics in greater detail. Classroom technology is further boosted by the extensive expansion of telecommunication and IT infrastructure. Schools are investing in robust IT solutions that allow multiple people to log in simultaneously for a seamless and smooth experience.

The advent of Artificial intelligence and Machine learning algorithms

Artificial intelligence is set to change the way the education sector functions. It makes the learning process engaging and immersive. AI solutions can automatically adjust to the learning speeds of each individual student. It reviews past learning habits and recent educational achievements. They can provide suitable courses depending upon the weak parts of learners. This promotes personalization as students can embark on their own journeys which make the experience engaging and interactive. Learning outcomes are boosted significantly. These will drive the growth of the virtual classroom market in the forthcoming years. AI-powered tools and machine learning systems can provide round-the-clock assistance to students in resolving their queries in real-time. It provides the answers instantly and is available 24/7. It promotes a collaborative environment by streamlining redundant administrative tasks freeing up crucial time for teachers so that they can address the gaps students are facing in their learning. Moreover, AI tutors and chatbots can interact with students even outside classrooms or within the comfort of their homes by providing a one-on-one learning environment that can help students to improve their weaknesses.

Lack of awareness and other issues

There is a lack of awareness of virtual learning platforms. There is a huge initial upfront cost that has the be incurred for setting up the right infrastructural support. There is a continuous upgradation and maintenance requirement to match the rapidly changing technology. This will hamper the growth prospects of the virtual classroom market in the upcoming years. Very few teachers and students are aware of the technical intricacies increasing the chances of poor connectivity and usage. Online learning takes away the rush of physical activity and face-to-face interactions as everyone is glued to their desktop or laptop to watch anything they have signed up for.

Virtual Classroom Market Share

Based on type, the cloud-based segment will dominate the virtual classroom market share due to ease of use, cheaper and support for a wide variety of learning tools.

Based on application, the segmentations are IT and telecommunication, and professional services.

Based on region, North America will witness considerable growth due to rising investments in AR, and VR technology, the presence of technological innovative virtual classroom solutions, and widespread acceptance.

Virtual Classroom Market By Type
• Cloud Software
• On-Premise Software

Virtual Classroom Market By Application
• IT & Telecommunication
• Professional Service

Key Companies
• BrainCert
• SAP
• Docebo
• Saba Software
• Skyprep
• Oracle
• Edvance360
• Brainier
• Bluevolt
• Canvas

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