The current Augmented And Virtual Reality In Education Market valuation is estimated at USD 20.1 billion. The market is expected to register a healthy CAGR of 16.2% from 2023 to 2033. The market is likely to reach a valuation of USD 90 billion by 2033.
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2023) | USD 20.1 billion |
| Anticipated Forecast Value (2033) | USD 90 billion |
| Estimated Growth (2023 to 2033) | 16.2% CAGR |
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Augmented and Virtual Reality in Education Market Soars Amidst Pandemic-induced Changes
With the continuous innovation and expansion of augmented reality (AR) and virtual reality (VR) technology, education is taking a giant leap forward. The visualization and practical application of AR and VR concepts enhance students' understanding and engagement levels. Additionally, incorporating these technologies in education ensures that students have the necessary skills and knowledge to excel in their future careers.
The augmented and virtual reality market in education has grown significantly in recent years. Many educational institutions are now utilizing AR and VR technologies to offer their students immersive and interactive learning experiences. Technological advancements have facilitated this expansion, including user-friendly hardware that is more readily available.
Advances in AR and VR open new doors in the Education market
Virtual reality technology has gained widespread recognition and acceptance during the pandemic. Recent technological advancements in the education sector have led to the emergence of VR businesses and an increased adoption of learning experiences at leading schools, colleges, and universities.
Virtual reality has become an essential tool in the education sector. It allows students to immerse themselves in an interactive experience while learning complex topics. Students can interact with 3D simulations and objects by entering a realistic virtual world, making decisions, and communicating with others. The impact of these applications has led to a surge in demand for virtual reality in education.
In recent years, the education sector’s augmented reality (AR) and virtual reality (VR) market has experienced rapid expansion. The way students study and interact with content has changed significantly due to AR and VR technologies in educational settings.
The primary focus of research and development efforts is the creation of educational simulations, programs, and virtual environments that cater to different subjects and learning styles.
However, there is still a need for evidence-based research to demonstrate how well AR and VR can improve learning outcomes, and problems with cost and technology limitations persist. Nevertheless, the market is still developing rapidly, thanks to continued investments, partnerships between technology companies and academic institutions, and the creation of standards and regulations to ensure quality and accessibility.
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2022) | USD 17 billion |
| Final Value (2023) | USD 20.1 million |
| Estimated Growth (2018 to 2022) | 20.7% CAGR |
Principal Consultant
The market for augmented and virtual reality in education is classified by deployment mode into two categories, namely cloud and on-premises, whereas, in terms of application, the market is segmented as K-12, higher education, and vocational training.
The cloud segment holds the leading share among the deployment mode segment in the global augmented and virtual reality in education market. Cloud deployment offers augmented and virtual reality solutions in education using cloud-based infrastructure and services. Scalability, flexibility, and accessibility are some benefits of cloud-based deployment.
Educational institutions can access AR/VR applications and materials through online browsers or specialized applications, eliminating expensive on-site infrastructure requirements. Educational institutions widely use cloud deployment for seamless upgrades, maintenance, and data storage.
Virtual and augmented reality have become valuable tools in K-12 education, enabling teachers to engage students more effectively and help them retain knowledge. As the cost of virtual reality systems continues to decrease and public interest in this technology grows, there is an anticipated increase in the adoption of VR systems in the education sector.
This sensation is expected to be conducted by various factors, including the ability of VR technology to offer immersive and engaging educational experiences that can help enhance student learning outcomes.
The use of VR systems in education is anticipated to grow in the coming years as educators continue to explore new ways of integrating technology into the classroom and leveraging its benefits to support student learning and development.
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The North American market is experiencing growth due to the increasing demand for innovative learning solutions and the availability of funding from both government and private organizations. The need for creative education and distance learning drives the development.
| Region | North America |
|---|---|
| Value Share in 2023 | 4.7% |
In 2022, VR devices held the leading AR and VR education market share. AR and VR learning device providers are anticipated to create lucrative growth opportunities by expanding product launches in the coming decade. Using immersive augmented and virtual reality technologies to transform corporate training will also likely create profitable opportunities for the players of AR and VR education.
European countries such as the United Kingdom, France, and Germany are known for their education systems worldwide. In such a scenario, the requirement for augmented and virtual reality platforms in the country is likely to experience an upsurge in recent times. Augmented and virtual reality products and platforms mainly find prominent applications in these sectors.
| Region | Europe |
|---|---|
| Value Share in 2023 | 4.0% |
Personalized education curriculum, gaining momentum worldwide, is another driver of customized and personalized knowledge systems designed for individual students. As personalized education curriculum continues to gain momentum in Europe, the prospects for growth in the augmented and virtual reality market are very high.
The United States is predicted to be one of the leading VR markets globally, with many companies advancing the technology based in the country. The region's high level of exposure to technology and the prevalence of smart devices have helped establish a strong VR market. Additionally, the United States is emerging in terms of startups that are focused on developing innovative VR technologies for various industries.
| Country | The United States |
|---|---|
| Value Share in 2023 | 3.5% |
The Asia Pacific region is expected to experience a rapid growth rate during the forecast period due to the local companies' availability of virtual reality devices in China. Furthermore, integrating fifth-generation (5G) technology with VR is one of the key drivers of market growth in the region. As a result, many countries are investing in VR and Metaverse, boosting the demand for virtual reality in education.
| Country | China |
|---|---|
| Value Share in 2023 | 3.1% |
The availability of VR devices and the integration of 5G technology with VR contribute to the rising demand for VR in China. As a result, the demand for VR in education is also rising.
Japan's regulatory framework is more streamlined than other developed nations, allowing for more innovations like these. The Japanese market has been actively developing augmented reality platforms featuring popular characters from manga and anime, driving the demand for AR and VR devices in the educational market.
| Country | Japan |
|---|---|
| Value Share in 2023 | 1.9% |
South Korea's leading position in the regional augmented and virtual reality market stems from its robust ecosystem of universities, research institutions, and tech companies focused on augmented and virtual reality advancements.
The market for augmented and virtual reality in South Korea is expected to exhibit significant growth in the upcoming decade, from 2023 to 2033, with a CAGR of 16.9%. For the branding of the AR and VR platforms in the market, the influencers have represented several companies to boost the platform's market.
| Country | South Korea |
|---|---|
| Value Share in 2023 | 1.1% |
The education sector in the United Kingdom has been going through a sensational transformation in recent decades. The market welcomes breakthroughs, including virtual reality products such as personalized education plans, virtual labs, practical workshops, etc.
| Country | United Kingdom |
|---|---|
| Value Share in 2023 | 0.6% |
The competitive landscape encompasses notable players' market ranking, new service or product launches, partnerships, business expansions, and acquisitions within the past five years. The market is characterized by the presence of several regional and local providers, both domestic and international, who are continuously striving to gain a significant global market share.
Notably, the education market's global augmented and virtual reality comprises several regional and local providers. These providers and several domestic, regional, and international players are actively expanding their market share. These players have made significant strides in the augmented and virtual reality education market by leveraging their core competencies and exploring new opportunities.
Recent Developments in the Augmented and Virtual Reality in Education Market
The market is expected to reach nearly USD 20.1 billion in 2023.
The Japan crop micronutrient market is expected to register a 1.9% CAGR from 2023 to 2033.
The demand for AR and VR in education is expected to grow at 3.1% by 2033 in China.
The United States is expected to dominate the market with a share of 3.5%.
Avantis Systems Ltd, Blippar.Com Limited, and DAQRI LLC are leading firms in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Offering 5.1. Solutions 5.2. Services 5.3. Hardware 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode 6.1. Cloud 6.2. On-Premises 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. K-12 7.2. Higher Education 7.3. Vocational Training 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Veative Group 18.2. Schell Games 18.3. Google LLC 18.4. Avantis Systems Ltd. 18.5. Immersion VR 18.6. EON Reality 18.7. Alchemy Immersive 18.8. Mursion 18.9. Unimersiv 18.10. zSpace 18.11. VRSim 19. Assumptions & Acronyms Used 20. Research Methodology
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Augmented and Virtual Reality in Education Market
