Navigating the Augmented and Virtual Reality in Education Market Share Landscape

With a compound annual growth rate (CAGR) of 29.6%, the AR and VR in Education Market Size is expected to rise from its estimated USD 3.8 billion in 2023 to USD 14.2 billion by 2028.

Pune, 09/05/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

Due to the growing integration of immersive technologies in educational settings, the global Augmented Reality (AR) and Virtual Reality (VR) in Education Market Size has experienced tremendous expansion in recent years. Estimated to be worth USD 3.8 billion in 2023, the market is expected to grow at a phenomenal Compound Annual Growth Rate (CAGR) of 29.6% to reach USD 14.2 billion by 2028. This significant development trend highlights how AR and VR technologies are increasingly being used to improve educational outcomes, engage students, and enhance learning experiences. The market is anticipated to continue growing as more educators realise how AR and VR can revolutionise traditional teaching methods. This growth will be fueled by factors like technological advancements, the growing accessibility of cost-effective VR headsets, and the rising demand for immersive learning solutions in educational institutions around the world.

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A number of critical variables are propelling the adoption of Augmented Reality (AR) and Virtual Reality (VR) devices across multiple sectors, contributing to the recent spike in demand for these gadgets. First of all, by enabling more visual comprehension, AR and VR technologies let users engage in more immersive and captivating interactions with digital information. By providing realistic simulations and hands-on experiences, these immersive technologies are revolutionising established training approaches in the corporate training space and improving learning outcomes and retention rates. Education is also advancing as a result of continuous innovation and growth in AR and VR technology, which teachers are using to create dynamic and engaging learning environments. Additionally, as AR and VR provide adaptive learning paths and customised material delivery, the rise of personalised learning experiences catered to specific student needs is transforming education. Finally, the integration of AR and VR into educational curricula is being driven by the emphasis on real-world application and career preparedness, which equips students with relevant skills and experiences for the workplace and helps them prepare for future employment prospects. As augmented reality and virtual reality spread throughout many sectors, they will never cease to amaze us with how revolutionary they can be in improving education and getting people ready for the digital age.

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

With a bigger market share, the software sector became the industry leader in the AR and VR for education in 2028. The expansion of software-based AR and VR solutions in educational settings can be linked to a number of factors, which in turn have driven this growth trajectory. First off, continuous technological development and cost cutting have made AR and VR technologies much more accessible and affordable. Educational institutions are using these technologies more frequently to improve student learning and improve curricula as they become more widely available. Additionally, the entry hurdles for educators have decreased due to the availability of user-friendly software tools and platforms, making it easier and more efficient for them to generate and distribute AR and VR material. Furthermore, traditional learning approaches have changed as a result of the growing acceptance and incorporation of AR and VR technology into educational environments, encouraging higher levels of student involvement and interaction. All things considered, the expansion of the software market highlights how revolutionary AR and VR have the power to be in redefining education and the way that learning will evolve in the future.

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

With a bigger market share, the cloud deployment category became the main player in the AR and VR for education market in 2028. The adoption of cloud-based solutions in educational settings can be linked to multiple factors, which are responsible for this increase. First of all, cloud deployment provides flexibility and scalability, making it simple for educational institutions to expand their AR and VR projects to meet evolving demands. Furthermore, by doing away with the requirement for on-premises hardware and maintenance, cloud-based solutions lower infrastructure costs and are therefore more affordable for educational institutions. Additionally, cloud deployment makes learning possible anywhere, at any time, by giving students access to AR and VR materials from any internet-connected device. Furthermore, cloud-based solutions improve learning outcomes by facilitating student and teacher collaboration and content sharing. Furthermore, centralised updates and management simplify the administration of AR and VR systems, guaranteeing smooth upkeep and functioning. Cloud deployments' improved security features and data privacy safeguards make them even more appealing to educational institutions. Augmented and virtual reality (AR) and VR content can be easily integrated into current educational workflows through integration with learning management systems (LMS). Last but not least, continuing innovation and updates guarantee that cloud-based AR and VR solutions stay at the forefront of educational technology, propelling further improvements in methods for both instruction and learning. All things considered, the expansion of the cloud deployment market highlights how crucial it is to changing education and influencing the direction of immersive learning in the future.

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

Projectors and displays took the lead in the AR and VR market in 2028, gaining a greater portion of the market. The remarkable developments in display technology that have transformed the visual experience of AR and VR content are responsible for this growth. Users may now enjoy more realistic and engaging AR and VR experiences thanks to the combination of higher resolution displays, better colour reproduction, and faster refresh rates. Consequently, there has been a sharp increase in the market for premium projectors and other display equipment that can produce these improved images. These developments have improved AR and VR content quality overall and broadened the industries and applications in which immersive technology can be successfully applied. Projectors and displays with cutting-edge technology are propelling the adoption and integration of AR and VR across a range of sectors, from education and training to entertainment and gaming, opening the door for creative and immersive experiences in the digital age.

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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. Because of the region's concentration of well-known educational institutions and dedication to providing high-quality education, the education sector in North America is still expanding significantly. Education has changed significantly as a result of technology breakthroughs, which have paved the way for the widespread adoption of smart education solutions and high-tech classrooms in both corporate and educational settings. These cutting-edge learning settings are designed to satisfy the unique learning requirements of both organisations and students, resulting in a more customised and interesting learning process. As major players in the North American virtual classroom sector, the US and Canada distinguish themselves by using their developed economies to fund significant R&D expenditures. Furthermore, the region's thriving startup culture is spurring quick innovation, which is further advancing the field of educational technology. The continued digitalization of many industry verticals and the rising use of smart, connected devices have made it possible for the education sector to flourish in North America and established it as a pioneer in reshaping education through the use of technology.

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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