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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Virtual Reality in Education Market Outlook
The global virtual reality in education market is projected to grow at a CAGR of 40% between 2021 and 2026.
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Increasing Adoption of Technology in Education Industry to Boost the Market Growth
Earlier, because of their expensive cost, acceptance of virtual reality systems was poor. However, due to the rapid technological advancements and economies of scale of major corporations, the acceptance of virtual reality gear has increased. One of the main drivers of virtual reality growth in education is the rising affordability of virtual reality devices and applications. The industry is driven by the rising affordability of VR gear. Furthermore, an easy-to-use content production platform is also expected to fuel the growth of the global market for virtual reality in the education sector in the forecast period. North America had a significant market share of the virtual reality in the education industry worldwide. Throughout the forecast period, it is expected to continue its dominance. The main countries that drive the demand in this region are the U.S. and Canada.
Virtual Reality in Education: Market Segmentation
Virtual reality permits a user to interact with a machine-created three-dimensional image or virtual world. Virtual reality improves the engagement of a pupil. It provides students with a new method of learning as a hands-on, interactive, immersive experience, offering exciting new experiences they could not have experienced before.
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By component, the market is divided into:
- Hardware
- Solution
- Software
Based on deployment mode the market is bifurcated into:
- Cloud
- On-Premises
On the basis of application, the market is segmented into:
- Academic Institutions
- Corporates
Academic institutions are sub-divided on the basis of type into K-12, higher education, vocational training, among others, whereas corporates are sub-divided on the basis of type into healthcare and life sciences, IT and telecom, retail and e-commerce, BFSI, government and public sector, among others.
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Education and Training Programs to Bolster The Virtual Reality in Education Industry
The various collaborations, such as the partnership of Queens University of Canada and SimforHealth with HTC to open a medical students' VR training facility to let them get the experience of real-time operations in an immersive virtual world, is invigorating the market growth of virtual reality in education. In the simulated world, HTC Vive may also provide a wide variety of clinical scenarios. In the coming years, this collaboration is projected to increase sales of virtual reality in the education industry. The rising number of social VR spaces will have a positive impact on the industry and will significantly contribute to its growth over the coming years. Virtual reality can substitute printed manuals, posters, textbooks, and physical paper models. It provides affordable, portable learning materials to help education become more accessible. All these aforementioned factors are expected to foster the market growth of virtual reality in education.
Key Industry Players in the Global Virtual Reality in Education Market
The report gives a detailed analysis of the following key players in the global virtual reality in education market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Google LLC
- IBM Corporation
- Samsung Electronics Co Ltd
- Lenovo Group Limited
- Sony Corp.
- Avantis Systems Ltd
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Mode |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global virtual reality in education market is projected to grow at a CAGR of 40% between 2021 and 2026.
The major drivers of the industry include increasing collaborations, partnerships between key players for delivering education and training programs, and rising affordability of virtual reality devices and applications, which are aiding the market growth.
Advances in technology and the advent of VR cardboard have enabled market players to dramatically reduce the cost of VR gear, which is expected to guide the industry's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading components of virtual reality in education in the market are hardware, solution, and software.
The major deployments modes in the industry are cloud and on-premises.
The significant application segments in the market are academic institutions (K-12, higher education, vocational training, and others) and corporates (healthcare and life sciences, IT and telecom, retail and e-commerce, BFSI, government and public sector, and others).
The major players in the industry are Google LLC, IBM Corporation, Samsung Electronics Co Ltd, Lenovo Group Limited, Sony Corp., and Avantis Systems Ltd, among others.
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