The Global Virtual Reality in Education Market Size, which was estimated at USD 3.42 billion in 2022, is expected to increase from that level to USD 28.70 billion by 2030, with a CAGR of 30.7% from 2023 to 2030.
Due to the epidemic and growing demand for immersive experiences, virtual reality technology has gained widespread recognition and acceptance. The adoption of learning experiences at top schools, colleges, and universities has increased as a result of recent technological advancements in this sector of education, which have also given rise to new VR businesses.
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Information about the report:
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Forecast Timeframe: 2023–2030
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The starting year is 2022
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Market Size in 2022 - USD 3.42 billion
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The market size in 2030 will be USD 28.70 billion
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CAGR - 30.7%
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Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Virtual Reality in Education Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money that service providers make when they sell their products to customers. Market share refers to the percentage of the market that is captured by a specific provider or a group of providers. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Virtual Reality in Education Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Application Type Analysis,
In 2022, the segment of higher education dominated the market. Students have seamless learning opportunities thanks to virtual reality. The applications of VR in higher education include student recruitment, fundraising, and immersive learning.
By Component Analysis,
The market's largest market share in 2022 belonged to the hardware segment. Additionally, adoption in the educational sector is anticipated to increase as VR system costs decline and public interest in this cutting-edge technology increases. Additionally, content is anticipated to exhibit the highest CAGR as VR adoption rises, enabling students to access virtual environments where they can interact with immersive content, potentially enhancing learning.
By Analysis,
Due to the ability of this application to simulate real-world work environments, which enables students to practice skills without running the risk of harm or damage, the vocational training segment is expected to experience the highest CAGR growth over the course of the forecast period. This can be especially helpful for training in high-risk or expensive industries like aviation, construction, and healthcare.
By Industry Analysis,
The leading virtual reality in education companies are working to broaden their geographic reach by introducing solutions tailored to particular industries. In order to establish a firm foothold in the area, these players are strategically collaborating and acquiring local players.
List of Key Companies Profiled:
“Google LLC (Alphabet, Inc.) (U.S.), EON Reality (U.S.), Schell Games (U.S.), Avantis Systems Ltd. (U.K.), zSpace, Inc. (U.S.), VRSim, Inc. (U.S.), Veative Group (U.K.), Mursion (U.S.), Immersion VR (U.K.), Unimersiv (U.S.), Alchemy Immersive (U.S.),”
By Region,
The market is fragmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
Due to the region's growing adoption of investments across numerous sectors of applications, North America currently holds the largest market share for virtual reality in education. Players are also concentrating on growing their businesses in order to increase the number of clients they have in the area.
The study report provides a thorough analysis of the “Virtual Reality in Education Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The market for Virtual Reality in Education Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Virtual Reality in Education Market industry will be able to gain the upper hand by using the study as a valuable resource.
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