The worldwide market for augmented and virtual reality (AR/VR) in education is currently experiencing a significant surge. This growth can be attributed to the increasing demand for immersive learning experiences and the rise of online studies. Major tech companies like Sony, Samsung, HTC, Google, and Microsoft are competing fiercely for dominance in this industry. This article aims to explore the dynamic landscape of the AR/VR in education market by delving into its applications, deployment models, and projected growth.
AR and VR technologies have revolutionized education by providing students with interactive and engaging learning experiences. Augmented reality involves overlaying digital components onto the real world using smartphone cameras, creating an interactive learning environment. Virtual reality immerses learners in a completely virtual world, cutting off external distractions. These transformative technologies have not only impacted education but have also found applications in gaming, marketing, e-commerce, and various other industries.
The AR/VR in education market is driven by various factors and has different segments focused on offering, deployment, devices, application, end-users, and regions. The offering segment includes hardware components like sensors, controllers, cameras, and VR headsets, as well as software services like managed services and professional services. The application segment encompasses classroom learning, corporate learning, e-learning, virtual field trips, student recruitment, and more.
In terms of deployment models, AR/VR in education offers flexibility and accessibility through cloud-based or on-premises solutions. The devices segment includes interactive whiteboards, mobile computing devices, head-mounted displays, gesture tracing devices, projectors, display walls, and more.
The global AR/VR in education market reached a value of US$ 14.1 billion in 2021. However, it is projected to witness exponential growth, reaching US$ 65.1 billion by 2030. This translates to a compound annual growth rate (CAGR) of 16.2% during the study period, highlighting the immense potential of this market.
The demand for interactive virtual field trips drives market growth. These immersive experiences allow students to explore historical events and distant locations without leaving the classroom or their homes. Furthermore, the increasing popularity of online studies, coupled with rising disposable incomes, presents lucrative opportunities for industry expansion.
China dominates the AR/VR in education market, capturing almost 45% of the global market share. The country has experienced remarkable growth since 2010 and leads as a top exporter in various sectors of the industry. However, industry giants like Sony, Samsung, HTC, Google, Microsoft, and others are competing fiercely to secure a significant market share.
In conclusion, the global AR/VR in education market is witnessing rapid expansion due to the growing demand for immersive learning experiences and the rise of online studies. These technologies have also found applications in gaming, marketing, e-commerce, and various other industries, reshaping the educational landscape. The market’s segmentation, deployment models, and device offerings cater to diverse learning environments and preferences, ensuring widespread adoption.
As the industry grows, competition among players intensifies, with China leading in market share. The projected market size of US$ 65.1 billion by 2030 indicates substantial growth potential. Investors, policymakers, industry professionals, and stakeholders must closely monitor this market to harness the opportunities presented by AR and VR in education.
To summarize, the global AR/VR in education market offers immense potential for transforming the way students learn and interact with educational content. With technological advancements and increasing adoption, AR/VR is poised to revolutionize the education industry, providing immersive and engaging experiences for learners worldwide. The future of education is immersive, interactive, and limitless, thanks to augmented and virtual reality.