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Augmented and Virtual Reality in Education Market worth $14.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

28 Jul, 2023, 15:15 GMT

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CHICAGO, July 28, 2023 /PRNewswire/ -- The global AR and VR in education market was valued at USD 2.9 billion in 2022 and is projected to reach USD 14.2 billion by 2028; it is expected to register a CAGR of 29.6% between 2023 and 2028 according to a new report by MarketsandMarkets™. The rise in demand for AR and VR devices is attributed to Enhanced understanding through visualization, transforming corporate training through immersive augmented and virtual reality technologies, advancing education through ongoing innovation and expansion in AR & VR technology, the emergence of advancing personalized learning experiences, and real-world application and career readiness.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203811025

Browse in-depth TOC on "Augmented and Virtual Reality in Education Market" 
130 – Tables
60 – Figures
250 – Pages

Augmented and Virtual Reality in Education Market Report Scope:

Report Coverage

Details

Market Revenue in 2022

$2.9 billion

Estimated Value by 2028

$14.2 billion

Growth Rate

Poised to grow at a CAGR of 29.6%

Market Size Available for

2019–2028

Forecast Period

2022–2028

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Offering Type, device type, deployment, application, end user and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Inadequate infrastructure and technical support

Key Market Opportunities

Immersive Collaboration and Communication

Key Market Drivers

Enhanced understanding through visualization


By offering type: software segment to account larger market share in the forecasted year.

The software segment accounted for the larger market share in 2028. The growth of software AR and VR in education is supported by technological advancements and cost reductions. As technology advances, it becomes more accessible and affordable, allowing educational institutions to integrate AR and VR solutions into their curricula. The availability of user-friendly software tools and platforms also reduces the barriers to entry for educators and encourages the development of AR and VR content. Also, the increasing adoption and integration of AR and VR technologies into educational settings, transforming traditional learning methods and enhancing the overall educational experience.

By deployment: cloud to account for a larger market share in the forecasted year.

The cloud deployment accounted for the larger market share in 2028. The growth of the cloud deployment segment in AR and VR for education is driven by factors such as scalability and flexibility, reduced infrastructure costs, accessibility and anytime, anywhere learning, collaboration and content sharing, centralized management and updates, enhanced security, and data privacy, integration with learning management systems, and continuous innovation and updates.

By device type: projectors & displays device type to account for a larger market share in the forecasted year.

The projectors & displays accounted for the larger market share in 2028. The advancements in display technology have greatly contributed to the growth of projectors and display devices in AR and VR. High-resolution displays, improved color reproduction, and faster refresh rates have enhanced the visual quality of AR and VR content, creating more realistic and immersive experiences. This has increased the demand for high-quality projectors and display devices capable of delivering these enhanced visuals.

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North America is expected to hold the largest share of the AR and VR in the education market during the forecast period.

North America held the largest share of the AR and VR in education industry in 2028. The education industry always seeks growth in North America, due to the presence of many prominent educational institutions and the quality education provided by them. Technological advancements have led to the rise in the adoption of smart education and technologically advanced classrooms in educational and corporate setups, which help to create a learning environment that is focused on an individual's or organization's learning needs. The US and Canada are the top contributing countries to the virtual classroom market in this region. These countries have established economies, which empower them to strongly invest in R&D activities. Moreover, the startup culture in North America is growing rapidly in comparison to the other regions. The rapid digitalization across industry verticals, the increasing adoption of smart connected devices, and the rising technological advancements have further fueled the growth of the education sector in this region.

The key players in the AR and VR in education companies are Sony Group Corporation (Japan), HTC Corporation (Taiwan), Meta (US), Google (US), Microsoft (US), Panasonic Holdings Corporation (Japan), Vuzix (US), Cornerstone OnDemand, Inc. (US), Anthology Inc. (US), Lenovo (Hong Kong).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027

Interactive Projector Market by Technology (DLP, LCD), Projection Distance (Ultra short throw, short throw, and standard throw), Dimension (2D, and 3D), Application (Education, Corporate, and Government), Resolution, and Region - Global Forecast to 2022

AR and VR Display Market by Device Type (AR HMDs, VR HMDs, AR HUDs, VR Projectors), Technology, Display Technology (LCD, OLED, Micro-LED), Application (Consumer, Commercial, Enterprise, Healthcare, Aerospace & Defense) & Region - Global Forecast to 2028

Augmented and Virtual Reality in Healthcare Market by Offering (Hardware and Software), Device Type, End User, Application (Patient Care Management, Medical Training & Education, Pharmacy Management, Surgery), and Geography - Global Forecast to 2023

Human Augmentation Market by Product Type (Wearable Devices, Virtual Reality Devices, Augmented Reality Devices, Exoskeletons, Intelligent Virtual Assistants), Functionality, Application, & Geography (2021-2026)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/virtual-classroom-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/virtual-classroom.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg 

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