AR and VR in Education Market Surging with 29.6% CAGR: Insights and Trends

The AR and VR in Education Market Size is projected to increase from an estimated USD 3.8 billion in 2023 to USD 14.2 billion by 2028, with a compound annual growth rate (CAGR) of 29.6%.

Pune, 05/07/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

The report “Augmented and Virtual Reality in Education Market by Offering Type (Software, Hardware, Services), Device Type, Deployment (On-premise, Cloud), Application, End User (Academic Institutions, Corporates) and Region – Global Forecast to 2028” offers a comprehensive analysis of the rapidly expanding AR and VR education sector. With a valuation of USD 3.8 billion in 2023, this market is poised for significant growth, projected to reach USD 14.2 billion by 2028 at a remarkable CAGR of 29.6%.

This surge is fueled by increasing adoption across academic institutions and corporate training environments, where immersive technologies are enhancing learning experiences and driving improved outcomes. The report delves into market dynamics, examining offering types such as software, hardware, and services, alongside device types, deployment models (on-premise and cloud), and applications. These insights provide valuable guidance for stakeholders aiming to capitalize on the transformative potential of AR and VR in education, shaping the future of learning globally.

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The rising demand for AR and VR devices is driven by their transformative impact on learning and training environments, offering enhanced visualization and immersive experiences. In corporate settings, these technologies are revolutionizing traditional training methods by providing interactive simulations that significantly improve skill retention and practical application. Meanwhile, within educational settings, continuous innovation and expansion in AR and VR are fostering personalized learning experiences. Students can engage with intricate subjects through realistic simulations and interactive content, thereby deepening understanding and preparing them for real-world applications and career readiness. As a result, AR and VR have become essential tools in both modern education and professional development, reshaping how knowledge is acquired and applied across various disciplines and industries.

By Offering Type, Augmented and Virtual Reality in Education Industry for Software Segment to account larger market share in the forecasted year.

In 2028, the software segment stands as a dominant force in the AR and VR education market, driven by substantial technological advancements and cost efficiencies. These advancements have made AR and VR technologies more accessible and affordable, empowering educational institutions to integrate these solutions seamlessly into their curricula. The proliferation of user-friendly software tools and platforms has significantly reduced barriers to entry for educators, facilitating the creation of innovative AR and VR content. This trend underscores the increasing adoption and integration of immersive technologies within educational settings, which are revolutionizing traditional learning methods. By enhancing engagement and interactivity, AR and VR are enriching the educational experience, providing students with immersive learning opportunities that foster deeper understanding and retention of complex concepts. As these technologies continue to evolve, their impact on education is poised to grow, shaping a future where immersive learning becomes integral to academic development and exploration.

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By Deployment, Augmented and Virtual Reality in Education Industry for Cloud to account for a larger market share in the forecasted year.

By 2028, the cloud deployment segment has emerged as the leader in the AR and VR education market, leveraging its scalability and flexibility to claim the largest market share. This deployment model offers inherent advantages by reducing infrastructure costs, thereby enhancing accessibility to advanced educational technologies. The cloud facilitates anytime, anywhere learning, enabling seamless collaboration and content sharing among students and educators. Centralized management capabilities and automatic updates ensure heightened security and data privacy, while integration with learning management systems streamlines educational processes. Continuous innovation and regular updates further enhance the cloud's appeal, solidifying its position as the preferred deployment option for AR and VR in education. This trend highlights the growing reliance on cloud-based solutions to drive educational transformation, fostering immersive and interactive learning environments that cater to the diverse needs of modern students and educators alike.

By Device Type, Augmented and Virtual Reality in Education Industry for Projectors & Displays to account for a larger market share in the forecasted year.

In 2028, projectors and displays have emerged as the dominant market share holders in AR and VR for education, propelled by significant advancements in display technology. Innovations such as high-resolution displays, enhanced color reproduction, and faster refresh rates have markedly elevated the visual fidelity of AR and VR content. These improvements contribute to more realistic and immersive educational experiences, driving the demand for state-of-the-art projectors and display devices. Educational institutions are increasingly prioritizing investments in high-quality visual equipment to deliver superior AR and VR experiences. This strategic approach not only enriches learning environments but also enhances student engagement and comprehension. By integrating top-tier projectors and displays, educators can effectively leverage immersive technologies to facilitate interactive learning experiences that promote deeper understanding and retention of educational concepts.

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By Region, Augmented and Virtual Reality in Education Industry for North America is expected to hold the largest share during the forecast period.

In 2028, North America remains at the forefront of the AR and VR in education industry, boasting the largest market share driven by its robust educational landscape and cutting-edge technological advancements. The region is home to numerous prestigious educational institutions that continuously innovate through the adoption of smart education and technologically advanced classrooms. These innovations create personalized learning environments tailored to the diverse needs of individuals and organizations alike.

The United States and Canada play pivotal roles in the virtual classroom market, leveraging their strong economies and substantial investments in research and development. Both countries benefit from a vibrant startup culture that accelerates digitalization across various sectors, including education. The increasing adoption of smart connected devices and ongoing technological advancements have significantly boosted the growth of the education sector in North America.

Overall, North America's leadership in AR and VR education is underscored by its commitment to advancing educational technologies, fostering interactive learning experiences, and preparing students for the digital age. This strategic focus on innovation continues to propel the region forward as a global leader in leveraging immersive technologies to enhance educational outcomes.

Augmented and Virtual Reality in Education Companies

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).