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Edutainment Market Report 2024 - Edutainment Market Trends, Growth, And Opportunities
Edutainment Market
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According to The Business Research Company's, The edutainment market size has grown rapidly in recent years. It will grow from $6.31 billion in 2023 to $7.32 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to shift in learning paradigm, globalization of education, educational tv programs and channels, cognitive development emphasis, influence of early childhood education.
The edutainment market size is expected to see rapid growth in the next few years. It will grow to $13.42 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to accessibility and inclusivity, parental involvement in learning, government support for edutainment, continuous learning culture, inclusion of social learning features. Major trends in the forecast period include virtual and augmented reality edutainment, gamification in education, educational apps and platforms, artificial intelligence (AI) in learning, collaborations with content creators.
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Market Drivers and Trends:
Increased adoption of edutainment globally is expected to propel the growth of the edutainment market during the forecast period. The concept of combining entertainment with education offers children an interactive learning environment. Edutainment presents a great advantage to the learning process as it places intellectually stimulating learning concepts. Children are expected to be curious seekers such as playing their favorite character or visiting their dream place, instilling 'happy energy' and confidence in them. According to Jing's Culture & Commerce 2021 report, a US-based technology trends publishing company, before COVID-19, museums spent $2 billion globally on education-based activities every year. Institutions provided more than 18 million hours for targeted education annually, including guided tours, staff visits, school outreach, and professional growth for teachers. Increasing adoption of edutainment globally is expected to drive the growth of the edutainment market.
Virtual Reality (VR) is the emerging technology in the edutainment market that provides students with a memorable and immersive experience that feels real by creating a 360-degree digital learning environment. Virtual reality is a computer-generated 3D setting that covers a user and reacts to an individual's actions, usually through immersive head-mounted displays. For instance, in March 2021, the 3D virtual simulation tool by Virtual Medical Coaching Ltd. was introduced to radiography students. This technology taught students through a complete process of learning anatomy, radiographic positioning, and pathology. Student feedback reveals that 3D virtual radiography simulation is a useful pedagogical tool in radiography education.
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Major Key Players of the Market:
Reliance Jio Infocomm Limited, Majid Al Futtaim Group, Mattel Play Town, Merlin Entertainments, Pororo Parks, Kidzania, CoComelon, Plabo, Brightcove Inc., Meraas, Kaltura Inc., Tata Sons Private Limited, Kramer Electronics and LEGOLAND Discovery Center, EON Reality Inc., Gardaland, TRIOTECH, LEGOLAND Discovery Center, ConveGenius, Lamsa, SoapBox Labs, Kidz Holding S.A.L, CurioCity, Little Explorers, Vinci Interactive Inc, Kukua, Jellyvision Lab Inc., Kindercity, Emme, UAB Educatus, KneoMedia, Totter's Otterville, Grey Sim
Edutainment Market 2024 Key Insights:
• The edutainment market size is expected to see rapid growth in the next few years. It will grow to $13.42 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%.
• Global Growth Driven By Rising Adoption Of Interactive Learning Experiences
• The Impact Of Virtual Reality In Edutainment For Immersive Learning Experiences
• North America was the largest region in the edutainment market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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