AR and VR in Education Market Anticipated to Grow at a CAGR of 18.2% During 2022 to 2027 – Report by Market Research Future (MRFR)
Growing Need for Interactive Virtual Field Trips amid Students to Boost ARVR in Education Market Growth
New York, US, June 07, 2022 (GLOBE NEWSWIRE) — ARVR in Education Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “AR and VR in Education Market Analysis by Offering, Deployment Model, Devices – Forecast 2027” valuation is poised to grow at 18.2% CAGR throughout the forecast period (2022–2027).
AR and VR in Education Market Report Scope:
The increasing need for AR and VR in corporate training using connected systems like software-defined kits, head-mounted displays, and gesture recognition systems will offer robust opportunities for the market over the forecast period. Besides, the growing adoption of advanced technology devices and products and rising development in the education sector are also adding augmented and virtual reality in education market growth.
| Report Metric | Details |
| Market Size | USD 12.4 Billion (2020) |
| CAGR | 18.2% |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Deployment Model, Devices and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Sony, Samsung Electronics, HTC, Google, Microsoft, Panasonic, Hitachi, Barco, LG Electronics, Veative Labs, Cisco, Blackboard, Dell, IBM, Saba Software, Oracl, Edvance360 , Electa Communications, BrainCert, SKYPREP, Impero Software, WizIQ, BigBlueButton, Digital Samba, TutorRoom, Eon Reality Inc., Facebook Technologies LLC, and Varjo Technologies Oy |
| Key Market Opportunities | Increasing Need for AR and VR in Corporate Training to offer Robust Opportunities |
| Key Market Drivers | Growing Need for Interactive Virtual Field Trips amid Students to Boost Market Growth |
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Drivers
Growing Need for Interactive Virtual Field Trips amid Students to Boost Market Growth
The growing need for interactive virtual field trips amid students will boost market growth over the forecast period. One of the chief factors fuelling market growth is the rising demand for various virtual field trips especially to museums, with many countries utilizing virtual reality headsets in the classroom or at home. The increasing use of virtual trips allows students to get immersive experience regarding historical events that in turn fuels market growth. Furthermore, virtual trips aid in the creation of one’s own immersive spaces, and personalized virtual experiences are expected to fuel the augmented and virtual reality in education market growth.
Privacy Concerns & Data Security to act as Market Restraint
Privacy concerns and data security caused by poor deployment or integration of augmented reality and virtual reality platforms stifle market growth. AR and VR applications both are utilized for academic purposes and may contain sensitive student data that must be protected in order to avoid data breaches and cyber-attacks. As cloud-based deployment became more popular, security concerns like false data injection, data leak, or unauthorized data access arose, stifling augmented and virtual reality in education market growth.
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Augmented and Virtual Reality in Education Market Segments
The global augmented & virtual reality in education market is bifurcated based on end users, application, deployment model, devices, and offering.
By offering, the hardware segment will lead the augmented and virtual reality in education market over the forecast period.
By deployment model, the cloud segment will dominate the market over the forecast period.
By devices, the mobile computing devices will spearhead the augmented and virtual reality in education market over the forecast period. The increased expectation of mobility and flexible learning, which allows employees and students to access every educational material and administrative work, is driving the adoption of smart devices in education. BYOD is a powerful tool that allows students and school staff to utilize their mobile devices. The BYOD trend in education would engage students, increase staff productivity, and broaden collaboration. Educational institutions, for example, are using tablets and mobile devices to reduce school costs by combining calculators, books, and word processors into a single convenient device.
By application, the augmented & virtual reality in education market is segmented into student recruitment, virtual field trips, e-learning, certifications, corporate learning management, classroom learning, and others.
By end users, the academic segment (higher education) will have lions share in the augmented and virtual reality in education market over the forecast period. Educational institutions and universities are leveraging innovative educational technology developments to engage students, expand their global presence, and avoid campus congestion. As IT spending is used for these processes, the selection & implementation of AR and VR in education are turning into strategic decisions as well as a significant part of the education industry. Higher education can benefit from the time and place convenience that AR and VR in education provide. In higher education, augmented and virtual reality facilitate the best quality education as well as intellectually satisfying learning experiences.
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Augmented and Virtual Reality in Education Market Regional Analysis
North America to Spearhead AR and VR in Education Sector
North America possess the largest market share in the education sector for augmented & virtual reality in education. The United States & Canada are chief contributors to the overall growth of the North American region. Because of the presence of several prominent educational institutions & the quality education they provide, the education industry in North America is always seeking growth. Technological advancements have resulted in an increase in the use of smart education & technologically advanced classrooms both in educational & corporate settings, which aid in the creation of a learning environment that is focused on an individual’s or organization’s learning needs. The main growth drivers of the augmented and virtual reality in education market in this region are the adoption of digital learning and the collaboration of software vendors and educational hardware.
North American organizations such as Google and Facebook are aiming to develop educational games that are based on virtual reality technology, such as 360 Degree Educational Video Viewing & other trainings. It is a primary factor driving market growth. The increased deployment of AR especially in the educational system, combined with technological advancements, is expected to boost market growth in the next ten years. One of the key drivers of growth in the augmented reality in education market is the presence of several global vendors within the region. The latest trends in augmented reality in education in Germany, as well as growing need for augmented reality in higher education in Japan, are supplementing the growth of AR in education in these countries.
AR and VR in Education Market Competitive Analysis
Dominant Key Players on AR/VR in Education Market Covered are:
- Sony
- Samsung Electronics
- HTC
- Microsoft
- Panasonic
- Hitachi
- Barco
- LG Electronics
- Veative Labs
- Cisco
- Blackboard
- Dell
- IBM
- Saba Software
- Oracl
- Edvance360
- Electa Communications
- BrainCert
- SKYPREP
- Impero Software
- WizIQ
- BigBlueButton
- Digital Samba
- TutorRoom
- Eon Reality Inc.
- Facebook Technologies LLC
- Varjo Technologies Oy
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COVID-19 Analysis
Companies are again resuming operations along with adapting with the new normal as they recover from the impact of COVID-19, which had previously resulted in restrictive containment measures like remote working, social distancing, and the closing down of commercial activities, resulting in operational challenges. Furthermore, as a result of COVID, children have begun to learn from home; as a result, several ed-tech investors consider technologies like VR, AR, and AI as future technologies with the potential for changing the future of the education augmented reality market.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
USD 12.4 Billion in 2020
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