What are the Historical Developments and Current Growth Metrics of the Virtual Reality In Education Market?
The virtual reality in education market has seen considerable growth due to a variety of factors.
• The market size for virtual reality in education has seen exceptional growth in recent years. It is projected to expand from a value of $16.13 billion in 2024 to reach $22.26 billion in 2025, increasing at a compound annual growth rate (CAGR) of 38.0%.
The historical growth can be linked to the rising uptake of online education, an increase in demand for interactive and customized learning experiences, a surge in the implementation of virtual learning settings, an escalation in the use of VR to substitute physical learning assets, and the improving accessibility and mobility in education.
What Does Future Hold for The Virtual Reality In Education Market Size?
The virtual reality in education market is expected to maintain its strong growth trajectory in upcoming years.
• The educational virtual reality market is predicted to experience significant expansion in the coming years, potentially reaching $86.96 billion by 2029 with a CAGR of 40.6%.
This expected surge during the forecast period may be due to enhanced internet access worldwide, an increasing demand for more engaging learning experiences, the wider acceptance of VR in k-12, tertiary education, and vocational training programs, alongside continual investment in research and progress. Increased capital in the development of VR educational content also contributes to this growth. Predicted trends for the forecast period encompass the creation of VR platforms enabling group study, the utilization of VR for specialized training and simulations, the inclusion of game-like elements within VR education, the creation of VR based educational analytics for tracking student performance, and the combination of augmented reality (AR) with virtual reality in the educational sector.
What Are The Key Drivers Fueling Growth In The Virtual Reality In Education Market?
The growth of the virtual reality in the education market will be fueled by the rising internet penetration during the projected period. The internet, which has become deeply ingrained in the daily lives of a major part of the population, is a critical component. Its steady interface, reduced connection cost, and global appeal make it an ideal platform for running virtual courses. As revealed by the Government of Canada in 2023, high-speed Internet coverage in Canada is expected to cover 98% of inhabitants by 2026, with complete nationwide coverage predicted by 2030. In addition, data from the International Telecommunication Union (ITU), a Switzerland-based information and communication technologies agency, showed in 2022 that 5.1 billion people used the internet globally, equivalent to 65% of the population. By 2023, this number climbed to 5.4 billion, equating to 67% of global internet penetration. This surge in internet penetration drives the expansion of the virtual reality in the education market.
What Are The Principal Market Segments In The Global Virtual Reality In Education Industry?
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
Subsegments:
1) By Hardware: VR Headsets, Motion Tracking Devices, Input Devices
2) By Solutions: VR Learning Platforms, Content Creation Tools, Training Simulations
3) By Software: Educational VR Applications, Curriculum Integration Software, Assessment And Evaluation Tools
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Which Emerging Market Trends Are Altering The Virtual Reality In Education Sector?
Advancements in Augmented Reality (AR) applications powered by the impending 5G technology are revolutionizing the education market through virtual reality. 5G technology, with its high-speed network, offers a more immersive experience and simplifies access to applications compared to its 4G counterpart, which struggles with virtual or augmented reality in educational contexts. These interactive applications aid children in overcoming learning challenges, enabling them to pursue education from their homes while ensuring faster access to cloud-based resources. For example, National University, a private institution based in the US, plans to inaugurate a virtual reality campus in June 2023. The innovative virtual campus will use both virtual and augmented reality to add value to teaching, learning, and student involvement for specific programs that commence this year. The platform will empower online students to tour the campus, participate in classes, engage with fellow students and educators, and get involved in activities as they would in a physical environment.
Who Are the Key Players in the Virtual Reality In Education Market?
Major companies operating in the virtual reality in education market include:
• 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
What are the Regional Insights into the Virtual Reality In Education Market?
North America was the largest region in the virtual reality in education market in 2024.The regions covered in the virtual reality in education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
