AR And VR In Education Market To Hit USD 22.42 Billion By 2030 Owing To Increasing Digitalization Of Education


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AR and VR in Education Market

AR and VR in Education Market Size, Share, Growth, Trend, Global Industry Overview and Regional Analysis, Forecast 2023 - 2030

AUSTIN, TEXAS, UNITED STATES, February 13, 2024 /EINPresswire / -- Market Report Scope & Overview

The AR and VR in Education Market , valued at USD 2.8 billion in 2022, is poised for remarkable growth. Projections indicate a substantial expansion, reaching USD 22.42 billion by 2030. This growth is underpinned by an impressive Compound Annual Growth Rate (CAGR) of 29.7% over the forecast period from 2023 to 2030.

Augmented Reality (AR) and Virtual Reality (VR) have emerged as transformative technologies in the education sector, revolutionizing traditional learning methods. AR supplements the real-world environment with digital elements, while VR immerses users into a simulated environment. In education, these technologies offer unparalleled opportunities to enhance engagement, interactivity, and understanding. The scope of AR and VR in education market extends across various disciplines, providing immersive experiences that cater to diverse learning styles. From virtual field trips that transport students to historical landmarks to interactive simulations that enable hands-on experiments, AR and VR redefine the educational landscape.

One of the key advantages of integrating AR and VR in education is the ability to cater to individualized learning needs. These technologies enable personalized and adaptive learning experiences, allowing students to progress at their own pace. The visual and interactive nature of AR and VR content enhances comprehension and retention, making complex concepts more accessible. The main pointers of AR and VR in education market encompass the adaptability of these technologies across subjects, their capacity for individualized learning, and the enhancement of comprehension through interactive experiences.

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Key Players Covered in AR and VR in Education market report 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).

Immersive Technologies Propel Student Engagement and Personalized Learning Amid Global Shift Towards Digitalization

AR and VR technologies provide students with immersive simulations and interactive content, fostering a deeper understanding of complex subjects. The ability to visualize abstract concepts in three-dimensional spaces enhances comprehension and retention. The global trend towards digitalization in education has created a conducive environment for AR and VR integration. Institutions are embracing technology-driven teaching methods to engage students and keep pace with evolving educational paradigms. AR and VR enable personalized learning experiences, catering to individual learning styles. Ongoing advancements in AR and VR technologies, including improved hardware and software capabilities, are driving AR and VR in education market.

Implementing AR and VR in educational settings requires robust technical infrastructure, including high-speed internet, powerful devices, and suitable software. Overcoming technical challenges and ensuring compatibility with existing systems can pose obstacles for institutions. AR and VR technologies offer the potential for global collaboration in education, transcending geographical boundaries. Virtual classrooms, international collaborations, and cross-cultural learning experiences could redefine the concept of a traditional classroom. Beyond traditional classrooms, AR and VR present opportunities for professional development and training. All these factors influences the AR and VR in education market growth.

Regional Analysis

A comprehensive regional analysis of the AR and VR in education market reveals varying degrees of adoption and growth across different geographical locations. Developed regions such as North America and Europe lead in terms of technological infrastructure and awareness, while emerging economies in Asia-Pacific show potential for rapid expansion. Factors such as government initiatives, technological infrastructure, and cultural acceptance influence the regional dynamics of AR and VR integration in education. Understanding these variations is crucial for stakeholders to tailor strategies that align with the specific needs and challenges of each region, ensuring a more effective and widespread implementation of AR and VR technologies in the global education landscape.

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AR and VR in Education Market Segmentation as Follows:

By Offerings
.Software
.Hardware
oSensors
oControllers
oCameras
oProjectors and Displays
oOthers (Integrated Circuits)
.Services
oManaged Services
oProfessional Services

By Devices Type
.Interactive Whiteboards
.Mobile Computing Devices
.Virtual Reality Devices
oHead Mounted Displays
oGesture Tracing Device
oHead Up Displays
oHandheld Devices
.Projectors & Display Walls
.Others (Security & video cameras and attendance tracking system)

By Service
.Professional Services
.Managed Services

By Deployment
.On-Premise
.Cloud

By Application
.Classroom Learning
.Corporate Learning Management
.Certifications
.E-Learning
.Virtual Field Trips
.Student Recruitment
.Others

By End Use
.Academic Institutions
oK-12 Education
oHigher Education
.Corporates
oHealthcare & Life Science
oRetail & E-commerce
oTelecommunication & IT
oBanking, Financial Services, And Insurance
oManufacturing
oGovernment & Public Sector

Segmentation by Region:
.North America
.Europe
.Asia-Pacific
.The Middle East & Africa
.Latin America

Impact of Recession

The ongoing recession has introduced both challenges and opportunities for the AR and VR in education market. On one hand, budget constraints in educational institutions may hinder investments in AR and VR technologies. On the other hand, the recession has accelerated the shift towards online and remote learning, creating a demand for innovative and engaging educational tools. As educational institutions seek cost-effective solutions, AR and VR may offer a viable alternative to traditional methods, providing a bridge between physical and virtual classrooms. The adaptability of these technologies to various economic scenarios will play a pivotal role in determining their impact on the education market during this recession.

Impact of Russia-Ukraine War

The Russia-Ukraine war has global implications, and its impact on the AR and VR in education market is nuanced. The geopolitical uncertainties may disrupt the supply chain of AR and VR hardware, affecting availability and pricing. Additionally, economic ramifications and shifting priorities may influence funding for educational technology initiatives. However, the crisis could also stimulate a renewed focus on international collaboration in education, fostering a shared commitment to leveraging technology for global learning. The extent of the impact depends on geopolitical developments, economic resilience, and the ability of the education sector to adapt to changing circumstances.

Conclusion

The SNS Insider report on the AR and VR in education market provides a comprehensive analysis covering market trends, key players, technological advancements, and regional dynamics. The report delves into the current state of AR and VR adoption in education, offering insights into market drivers, challenges, and opportunities. SNS Insider explores the impact of economic factors and geopolitical events on the market, providing a holistic view that aids stakeholders in making informed decisions.

Table of Content – Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. AR and VR in Education Market Segmentation, By Devices Type
9. AR and VR in Education Market Segmentation, By Service
10. AR and VR in Education Market Segmentation, By Deployment
11. AR and VR in Education Market Segmentation, By Application
12. AR and VR in Education Market Segmentation, By End Use
13. Regional Analysis
14. Company Profile
15. Competitive Landscape
16. USE Cases and Best Practices
17. Conclusion

Continued....

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