Technavio, a tech-focused market research firm, has published a new report on the global VR in education sector market, which is expected to account for a revenue of around USD 1,701 million by 2021.
Based on geographical segmentation, Technavio market researchers categorize the global VR in the education sector market into the following key regions: APAC, Europe, North America, and ROW.
Source: Technavio
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Top three contributors for the global VR in education sector market are elaborated below:
VR in education sector market in North America: North America is a pioneer of incorporating technology in the education industry and hence, is the largest consumer of VR. The high awareness among individuals on the benefits of integrating this software in schools and colleges in the US is the fundamental driving force behind the demand for VR from the education sector in this region.
According to Jhansi Mary, a lead analyst at Technavio, specializing in research on education technology, “Being a pioneer in digital content, North America has immense potential to develop VR content for both the K-12 and higher education segments. Several universities in this region, especially ones in the US that teach STEM topics, have begun to explore various ways in which VR can be included as a part of the regular curriculum and learning experience.”
VR in education sector market in Europe: The VR market in the education sector in Europe is expected to grow owing to the rise in the education policies implemented by the European Union (EU) and the ever-increasing number of educational institutions. Blended learning, which is extensively being used in universities, is contributing to the growth of the market in Europe. The incorporation of the latest technologies in the education system is also facilitating the adoption of VR technology in the education industry.
VR in education sector market in APAC: The VR in education sector market in APAC is projected to experience significant growth during the forecast period owing to the increasing digitalization of education in various developing countries. Much of the market’s growth is projected to be concentrated around South Korea, India, and China. Some of the other key factors that have a direct and positive impact on the growth of the market in this region include aggressive government initiatives, growth in market penetration, and the collaboration of vendors with various educational institutions.
The leading vendors operating in the global VR in education sector market are:
- Oculus VR
- Alchemy VR
- Discovery Communications
Other prominent vendors in the market include Cinoptics, EPSON, HTC, Sony, FOVE, LG Electronics, Zebronics, Homido, Mattel, Samsung Electronics, ZEISS, EON Reality, Immersive VR Education, and Unimersiv.
A more detailed analysis is available in the Technavio report titled, ‘Global VR in Education Sector Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Digital Signage Market in Education Sector 2017-2021
- Global K-12 Instruction Material Market 2017-2021
- Global Education Marketing Services Market 2017-2021
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