Virtual Reality in Education Market Growth & Trends | 2024 To 2033 Key Players Google LLC, Microsoft Corporation, Facebook Technologies LLC, International Business Machines Corporation

The Business Research Company recently released a comprehensive report on the Global Virtual Reality In Education Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 Drivers and Trends:

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.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

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

Virtual Reality In Education Market 2024 Key Insights:

• 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%.
• Expanding Internet Penetration To Boost Virtual Reality In Education Market
• Leveraging 5G Technology To Enhance Augmented Reality In Education
• North America was the largest region in the virtual reality in education market in 2023

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