Virtual Reality Market In Education Sector to grow at a CAGR of 84.3% during 2024-2028
The Virtual Reality Market In Education Sector is expected to grow at a CAGR of 84.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 47.28 billion. In the education sector, Virtual Reality (VR) technology offers immersive learning experiences by transporting users into a virtual environment. However, the isolation of users from the physical world raises concerns regarding the effectiveness of collaborative learning. To mitigate this challenge, VR vendors have introduced platforms enabling real-time communication and collaboration among students within the virtual space. These social VR spaces foster interactive learning experiences, enhancing the educational value of VR technology. Despite the potential benefits, the use of VR in education necessitates addressing concerns such as user isolation and motion sickness, which vendors are continuously addressing through technological advancements.
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Technavio analysts predict that the VR hardware subsegment will lead the Product segment during 2024 and 2028 The global virtual reality market in the education sector is experiencing significant growth, particularly in the VR hardware segment. This expansion is driven by the increasing affordability of VR hardware, with vendors such as Oculus VR reducing prices due to the popularity of cost-effective options like VR Cardboard. Initially, VR headsets were primarily used for content development and gaming. However, the commercial application of VR is leading to the release of VR devices specifically designed for educational purposes. The VR hardware segment offers a high potential for market growth, as it addresses the challenges of cost and quality for immersive learning experiences, providing educators with a range of budget-friendly and premium VR equipment options.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Virtual Reality Market In Education Sector include:
There are several factors that are causing the market to flourish increased affordability of virtual reality (vr) gear
Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report
The Virtual Reality (VR) market in the education sector is experiencing rapid growth as colleges, universities, and training institutions embrace this technology to enhance academic and corporate learning experiences. VR offers personalized learning environments that cater to various learning styles and needs, including those with Attention Deficit Disorders. VR headsets and head-mounted displays are becoming commonplace in K-12 learning, providing immersive experiences that make complex concepts easier to understand. Telecom companies and managed services providers offer cloud-based VR solutions, allowing institutions to access VR software and content without the need for on-premises infrastructure. VR technology is also being used in corporate training, with machine learning and artificial intelligence powering 3D simulations and generative AI for customized training programs. XR technology, which includes VR, augmented reality, and mixed reality, is revolutionizing the education sector, offering new opportunities for innovative and effective learning experiences.
In the education sector, virtual reality (VR) market operations encompass various inputs such as capital investments, human resources in the form of teachers and lecturers, instructional materials, and digital classroom platforms. Pitching and profiling are crucial operations, enabling firms to comprehend the unique business needs of the education industry and clients, thereby proposing superior value propositions. Networking and brand building are also essential, attracting top talent and generating favorable referrals. The resourcing and communicating operations optimize workflows, reducing resource consumption while enhancing project management, resource planning, client engagement, and communication, ultimately increasing perceived value and client satisfaction.
The Virtual Reality Market In Education Sector is experiencing significant growth, fueled by the increased affordability of virtual reality (vr) gear. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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