The Business Research Company’s Virtual Reality In Education Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, March 2, 2022 /EINPresswire.com/ — The global virtual reality in education market size is expected to increase from $6.37 billion in 2021 to $8.66 billion in 2022 at a compound annual growth rate (CAGR) of 36%. The change in the VR in education market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $32.94 billion in 2026 at a CAGR of 39.7%.
The increasing internet penetration will drive the growth of global virtual reality in education market during the forecast period. The internet plays a crucial role in people’s lives today as a large portion of the population’s lives are immersed in digital technology. The internet has become an effective platform for virtual courses due to its consistent interface, lower connection cost, and universal appeal. For instance, according to the Internet World Stats report, global internet users reached 5.1 billion as of March 2021. Furthermore, according to the Techjury report, the global E-learning sector is expected to reach $325 billion by 2021. Therefore, the increasing internet penetration propels the virtual reality in education market growth.
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Major players covered in the global virtual reality in education industry are Google, Microsoft Corporation, Facebook Technologies LLC, IBM Corporation, HTC Corporation, Unimersiv, Samsung, Lenovo Group Limited, Sony Corporation, Alchemy Immersive, Avantis Systems Ltd, Veative Labs Pvt. Ltd., VR Education Holdings, Cyberith, Sixense Enterprises Inc and Vuzix, Schell Games.
The development of Augmented Reality (AR) applications by leveraging the upcoming 5G technology is shaping the virtual reality in the education market. With its high-speed network, 5G hands-on experience and helps access apps easily, while 4G technology struggles with the use of Virtual or Augmented Reality in educational applications. These robot applications help children to solve learning issues, allowing them to get education from the comfort of their own homes while also allowing them to access cloud-based material more quickly. For instance, in March 2021, Fisk University, HTC VIVE, T-Mobile, and VictoryXR have partnered to launch the first-ever interactive 5G enabled VR human cadaver lab for learning delivery to pre-med and biology-related majors.
TBRC’s global virtual reality in education industry analysis report is segmented by component into hardware, solutions and software, by deployment into cloud, on-premises, by application into residential, academic and training institutions, others.
Virtual Reality In Education Global Market Report 2022- By Component (Hardware, Solutions and Software), By Deployment (Cloud, On-Premises), By Application (Residential, Academic And Training Institutions) – Market Size, Trends, And Global Forecast 2022- 2026 is one of a series of new reports from The Business Research Company that provides a virtual reality in education market overview, virtual reality in education market forecast, virtual reality in education market size and virtual reality in education market growth for the whole market, virtual Reality in education market segments, geographies, virtual reality in education market trends, virtual reality in education market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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