The virtual reality market size in education sector is expected to post a CAGR of over 59% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global virtual reality market in education sector 2018-2022 (Graphic: Business Wire)
The increased affordability of VR gear is one of the major drivers of the virtual reality market growth in the education sector. Recent developments in technology and economies of scale have significantly reduced the cost of VR gear. Many companies providing VR headgear at premium prices have cut their prices and also developed commercial versions of their products. The advent of VR cardboard by Google and Samsung VR gear headsets, which are compatible with smartphones, have contributed to the decline in prices. Thus, the emergence of low-priced VR devices will boost the demand for VR content, leading to the growth of the market over the forecast period.
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As per Technavio, the increasing number of social VR spaces will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2018-2022.
Virtual Reality Market In Education Sector: Increasing Number of social VR Spaces
The increasing number of social VR spaces is an emerging trend in this market space. Considering the criticality of the isolation faced by an individual in a VR environment and the possibility of developing motion sickness, many VR vendors are increasingly opting for VR spaces. For instance, Microsoft, through its AltspaceVR, provides various avatars and supports multiplayer sessions that allow students to socialize and interact with other users. The platform also provides a front-row feature wherein the students can be a part of an event as an audience. Facebook has developed its own Facebook Spaces VR platform, most likely to be released in 2019. It is expected to provide features such as virtual clubs and tutoring options for experiential and collaborative learning.
“Other factors such as the advent of 360-degree videos, increasing emphasis on foveated renderings, and the increasing need for experiential learning will have a significant impact on the growth of the virtual reality market value in the education sector over the forecast period,” says a senior analyst at Technavio.
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Virtual Reality Market In Education Sector: Segmentation Analysis
This market research report segments the virtual reality market in education sector by product (VR hardware and virtual reality content) and end-user (higher education sector and K-12 sector) and by geography (the Americas, APAC, and EMEA).
The Americas dominated the global virtual reality market in the front-row education sector, followed by EMEA and APAC. The growth of the market in the Americas can be attributed to several factors such as the increasing emphasis on the applicability of VR in the education market, and the emergence of low-cost affordable VR gear.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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