Market Overview:
The global Augmented and Virtual Reality in Education Market size was valued at USD 12.4 billion in 2020 and it is projected to register or cagr of 18.2% during 2020-2027 or Augmented reality as Digital Elements. Sociology offers a life view that is open by using the camera on a smartphone examples of an Augmented reality experience. Using a smartphone’s camera, augmented reality adds digital components to a live view.
Snapchat glasses and the video game Pokémon Go are two examples of augmented reality experiences. Virtual reality suggests a wholly engrossing experience that blocks out the outside world. Future applications for virtual reality and augmented reality include gaming, marketing, e-commerce, education, and many other industries. Both technologies are renowned for their enhanced experiences that combine a virtual and physical environment with improved, three-dimensional images.
One of the main drivers propelling its market expansion is the rising demand for virtual field trips to museums, with many nations using virtual reality headgear in the classroom or at home. The growing popularity of virtual vacations gives students the chance to experience historical events firsthand, which in turn is helping to drive the market’s expansion. Additionally, the ability to create one’s own immersive settings and create customized virtual experiences is another aspect that is anticipated to propel the expansion of the global market.
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Key Players
· Dell
· IBM
· Saba Software
· Oracle
· Edvance360
· Microsoft
· Panasonic
· Hitachi
Market Segmentation
Based on offering, devices, deployment type, application and end users, and location, the global market for augmented and virtual reality in education has been divided into segments.
The market for augmented and virtual reality in education market has been divided into solutions, hardware, and services based on the offerings. During the forecast period, the hardware sector is anticipated to hold a higher proportion of the market for augmented and virtual reality in education.
The market for augmented and virtual reality in education has been divided into cloud and on-premises based on deployment models. Over the course of the forecast period, the cloud sector of the market for augmented and virtual reality in the education market is anticipated to grow at the fastest CAGR. This is ascribed to its affordability, scalability, accessibility, ease of setup, and ease of usage.
The market for augmented and virtual reality in education has been segmented based on the type of equipment used: interactive whiteboards, portable computers, head mounted displays, gesture tracking devices, head up displays, handheld devices, projectors & display walls, and others.
The market for augmented and virtual reality in education market has been segmented into classroom learning, corporate learning management, certifications, e-learning, virtual field excursions, student recruiting, and others based on the application.
The market for augmented and virtual reality in education market has been segmented based on end users into academic (k–12 and higher education) and corporate (telecommunications and it, healthcare and life sciences, retail and ecommerce, banking, financial services, and insurance, manufacturing, government, and public sector)
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Regional Outlook
North America, Europe, Asia-Pacific, the Middle East and Africa, and South America have all been the subject of regional analyses for the worldwide market for augmented and virtual reality in education. During the projection period, the North American market is anticipated to maintain its dominance in terms of revenue share. Additionally, the Asia-Pacific market for augmented and virtual reality in education market is anticipated to develop at the greatest CAGR throughout the forecast period.
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