The new report by Expert Market Research titled, 'Global Virtual Reality in Education Market Report and Forecast 2021-2026', gives an in-depth analysis of the global virtual reality in education market, assessing the market based on its segments like component, deployment mode, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 40%
Innovative advances in educational technologies are being leveraged by colleges and educational institutions to engage students, extend their reach internationally. The implementation of smart devices in education is due to the growing requirement of accessibility and flexible learning, which allows students and staff to access both teaching materials and administrative work. The enlarged and computer-generated reality in instruction encourages the best quality training, alongside mentally fulfilling learning encounters in advanced education. The incremental transition from a conventional learning environment to a virtual classroom, like online cameras, microphones, or other technologies, would stimulate market development.
Industry Definition and Major Segments
Virtual reality makes it possible for a user to interact with a three-dimensional image or virtual world generated by a computer. Virtual reality strengthens a student's involvement. As a hands-on, interactive, immersive environment, it provides students with a new way of learning, providing exciting new opportunities they could not have encountered before.
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By component, the market is divided into:
Based on deployment mode the market is bifurcated into:
On the basis of application, the market is segmented into:
- Academic Institutions
- Higher Education
- Vocational Training
- Healthcare and Life Sciences
- IT and Telecom
- Retail and E-commerce
- Government and Public Sector
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Some of the factors driving the growth of the market are the broad adoption of virtual reality for corporate training and development, ongoing innovation in VR technology, increased involvement and engagement in learning, demand for customised learning experiences, and the use of connected devices in virtual reality in education. In addition, the awareness of the advantages of the interactive learning environment, such as flexible timetables, more human transparency, mobility, student-cantered learning, and others, would fuel market development. The lower costs associated with the development of classroom facilities would reinforce the market's growth.
Key Market Players
The major players in the market are Google LLC, IBM Corporation, Samsung Electronics Co Ltd, Lenovo Group Limited, Sony Corp, and Avantis Systems Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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