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The Europe - Virtual and Remote Laboratories Market size is estimated to grow at a CAGR of 10.95% between 2022 and 2027 and the size of the market is forecast to increase by USD 489.71 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by Type (remote laboratories and virtual laboratories) and End-user (institutions and individual learners). This report also includes an in-depth analysis of drivers, trends, and challenges.
The increasing need for a cost-effective laboratory model is driving growth in the Europe virtual and remote laboratories market. Learning institutions and learners will save a considerable amount of money by having virtual or remote laboratories. Virtual and remotely installed laboratories are helping students to cope with the costs of study in countries such as Germany and the UK, where there is a significant amount of laboratory content available online that can be reused. For institutions, apart from the upfront costs, the intangible benefits such as improved safety and expanded access to learning are high as faculty can automate administrative tasks and focus on the personalized learning of students.
Moreover, Europe's virtual and remote laboratories are also beneficial for teachers and trainers as it enables them to reach out and deliver knowledge to a wider audience. In addition, teachers may take advantage of a variety of resources for the virtual or distant laboratory modules to be used in class sessions. This makes it easier for the faculty to develop and manage content with a diverse and interactive nature in Europe virtual and remote laboratories, thereby reducing reliance on large publishers. The cost efficiencies that vendors can achieve and the growing number of affordable virtual and remote laboratories that customers can access will further fuel the growth of the market during the forecast period.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cengage Learning Inc. - The company offers Europe virtual and remote laboratories for educators and learners to modify, improve, and practice, often at a fraction of the cost of replicating those experiences in real life, and without the limitations of time and geography.
The Europe virtual and remote laboratories market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the remote laboratories segment will be significant during the forecast period. Remote laboratories enable students and faculties to access equipment or computers through the internet to perform experiments and laboratory tasks without being in the physical presence of the laboratory.
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The remote laboratories segment showed a gradual increase in the market share of USD 257.14 million in 2017 and continued to grow by 2021. These remote laboratory sessions are mainly carried out with the help of software, such as simulation and data analysis software, hardware like mobile phones, electronic circuits, or a combination thereof, and allow students to complete coursework without their physical presence in the laboratory.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The adoption of inquiry-based learning is a primary trend in the Europe virtual and remote laboratories market. In particular, IBL aims at enabling students to learn concepts and develop analytical skills in their area of study. Several Institutions in Europe allow students to perform scientific experiments using virtual and remote laboratories, which are structured, to strengthen their educational skills. Faculty have tools at their disposal to assist them with changing language settings and integrating concept maps. This, in turn, helps to create IBL interconnection with drag-and-drop features.
Moreover, faculties can also acquire knowledge about the best practices followed by other teachers and share them with other teachers through online platforms. Vendors operating in virtual and remote laboratories can easily plug in and share their online laboratories. In order for colleges and students to use the IBL tools in an efficient manner, prototypes and mock demonstrations are being developed. Thus, the adoption of IBL will drive the growth of the Europe virtual and remote laboratories market during the forecast period.
The compliance costs associated with stringent user privacy regulations are a major challenge in Europe's virtual and remote laboratories market. Some end users, such as the financial details for institutions and individually trained students, have been required by a number of Virtual or Remote Laboratory Users to make available sensitive information. With a view to addressing concerns about user privacy and data security, strict legislation is being introduced in Europe. Vendors that provide virtual and remote laboratories in the region are obliged to align their systems and processes to ensure compliance with these regulations.
It is foreseen that this regulation will lead to transparency and full disclosure of the service terms applicable for all web-based services, e.g. a Virtual LMS or Remote Laboratory Solutions as well as Learning Management Systems. By increasing the adoption of encryption tools and technologies in eLearning solutions software and apps, virtual and remote laboratory suppliers are expected to prioritize user safety. However, the incorporation of such tools and technology will lead to higher production costs for virtual and remote laboratories vendors in Europe. Overall, these stringent regulatory measures are expected to impact the growth of the Europe virtual and remote laboratories market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on Europe's virtual and remote laboratories market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Europe Virtual and Remote Laboratories Market Customer Landscape
The Europe virtual and remote laboratories market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Europe Virtual And Remote Laboratories Market Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.95% |
Market growth 2023-2027 |
USD 489.71 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.87 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
A KRUSS Optronic GmbH, Cengage Learning Inc., ERIGrid 2.0, Georg von Holtzbrinck GmbH and Co. KG, International Labmate Ltd., Labster Group ApS, Learning Science Ltd, Merck KGaA, Microsoft Corp., Pearson Plc, Platinum Equity Advisors LLC, PNX Labs GmbH, Roquette Freres SA, Salesforce Inc., Saros Technology Ltd., Schauenburg Service GmbH, The MathWorks Inc., TUV NORD AG, VDE Verband der Elektrotechnik Elektronik Informationstechnik e. V., and Virtual Hacking Labs |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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