Global Virtual Reality (VR) in Education Market Report 2023: Increasing Internet Penetration Drives Growth
Global Virtual Reality in Education Market
Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Virtual Reality In Education Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.
The global virtual reality in education market grew from $8.67 billion in 2022 to $11.95 billion in 2023 at a compound annual growth rate (CAGR) of 37.9%. The virtual reality in education market is expected to grow to $46.14 billion in 2027 at a CAGR of 40.2%.
Major players in the virtual reality in education market are Google, Microsoft Corporation, Facebook Technologies LLC, IBM Corporation, HTC Corporation, Unimersiv, Samsung, Lenovo Group Limited, Sony Corporation, Alchemy Immersive, Avantis Systems Ltd., Veative Labs Pvt. Ltd., VR Education Holdings, Cyberith, Sixense Enterprises Inc and Vuzix, Schell Games.
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The main components of virtual reality in education are hardware, software, and solutions. The hardware component of VR in education involves devices used to project virtual reality content such as head-mounted displays, VR headsets, and projectors. Virtual reality in education can be deployed in the cloud, on-premises, and is applied in areas including residential, academic, and training institutions, among others.
The virtual reality in education market research report is one of a series of new reports that provides virtual reality in education market statistics, including virtual reality in education industry global market size, regional shares, competitors with virtual reality in education market share, detailed virtual reality in education market segments, market trends and opportunities, and any further data you may need to thrive in the virtual reality in the education industry. This virtual reality in education market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The development of Augmented Reality (AR) applications by leveraging the upcoming 5G technology is shaping virtual reality in the education market. With its high-speed network, 5G provides hands-on experience and helps access apps easily, whereas 4G technology struggles with the use of Virtual or Augmented Reality in educational applications.
These robot applications help children to solve learning issues, allowing them to get an education from the comfort of their own homes while also allowing them to access cloud-based material more quickly. For instance, in March 2021, Fisk University, HTC VIVE, T-Mobile, and VictoryXR partnered to launch the first-ever interactive 5 G-enabled VR human cadaver lab for learning delivery to pre-med and biology-related majors.
North America was the largest region in the virtual reality in education market in 2022. The regions covered in the virtual reality in education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the virtual reality in education market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The increasing internet penetration will drive the growth of virtual reality in the education market during the forecast period. The internet plays a crucial role in people's lives today as a large portion of the population's lives are immersed in digital technology. The internet has become an effective platform for conducting virtual courses due to its consistent interface, lower connection cost, and universal appeal.
For instance, according to the Internet World Stats report, global internet users reached 5.1 billion as of March 2021. Furthermore, according to the Techjury report, the global E-learning sector is expected to reach $325 Billion by 2021. Therefore, the increasing internet penetration propels the growth of virtual reality in the education market.
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Virtual Reality In Education Market Characteristics
3. Virtual Reality In Education Market Trends And Strategies
4. Virtual Reality In Education Market - Macro Economic Scenario
4.1 COVID-19 Impact On Virtual Reality In Education Market
4.2 Ukraine-Russia War Impact On Virtual Reality In Education Market
4.3 Impact Of High Inflation On Virtual Reality In Education Market
5. Virtual Reality In Education Market Size And Growth
5.1. Global Virtual Reality In Education Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Virtual Reality In Education Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Virtual Reality In Education Market Segmentation
6.1. Global Virtual Reality In Education Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global Virtual Reality In Education Market, Segmentation By Deployment, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.3. Global Virtual Reality In Education Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Academic And Training Institutions
7. Virtual Reality In Education Market Regional And Country Analysis
7.1. Global Virtual Reality In Education Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Virtual Reality In Education Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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