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Technavio’s market research analysts estimate the virtual and remote laboratories market in the US to grow at a high CAGR of more than 36% by 2020. The concept of virtual and remote laboratories has led to cross-institutional cooperation, where students of one university can access virtual and remote laboratories of other educational institutions. Virtual and remote laboratories provide a cost-efficient learning method, encouraging institutions to support distance education. It gives students the option to record their laboratory experiments and observations so that they can use it as a reference in the future. Institutions with limited expenditure will increase their usage of remote laboratories in the coming years, thereby contributing to the market’s growth.
One of the latest trends gaining prominence in the market is the integration of learning management systems (LMS) with virtual and remote laboratories. This combination plans, implements, and evaluates the learning processes, thereby helping instructors to offer a holistic e-learning program to their students. For instance, UNEDLabs is a network of virtual and remote laboratories integrated with LMS features. It uses a booking system to control the accessibility of remote laboratories. With more institutions capitalizing on their LMS to offer better effective virtual and remote laboratory experiences, the growth prospects for this market is expected to increase during the forecast period.
At present, the remote laboratories segment dominates the market, accounting for more than 55% of the overall market share. Remote laboratories have come out to be a viable solution for institutions who have restricted budgets but want to deliver quality education. Though the adoption of these laboratories in educational institutions in the US is in its nascent stage, however, the market is expecting their high implementation in the coming years.
The institutions are the largest end-users of the virtual and remote laboratories market in the US and is expected to grow at a high CAGR of more than 38% by 2020. Much of this market’s growth comes from the customized offerings provided by market vendors at subsidized rates, especially for the institutional buyers. For instance, there are separate packages available for online institutions, brick and mortar institutions, and institutions offering blended learning solutions. Rapid growth in online learning market will propel institutions to have developed in-house virtual laboratories for efficient performance of students and faculty in the coming years.
It is an emerging market which is expected to grow significantly over the next four years because of the growing Internet penetration and advances in the education technology market. Key vendors in the market are offering e-learning modules, e-books, and web-based offerings, to broaden their consumer base and deliver a better experience. Competition in this market is expected to intensify during the forecast period with the increase in the number of start-ups.
Key vendors in the market are -
The other prominent vendors in the virtual and remote laboratories market in the US include Cengage Learning, John Wiley & Sons, Houghton Mifflin Harcourt, LabsLand, Pearson Education, and Smart Science Education.
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A virtual laboratory is an interactive environment that helps to create and conduct simulated experiments. Such laboratories allow students to create information on the Internet by collecting it from the physical world. Since these laboratories can be accessed remotely with the help of a computer, students can carry out real-time experiments from any location. This technology fosters the flexibility of laboratory education and introduces students to the new paradigm of remote experimentation. Vendors like Scholastic, Labicom, Technet Virtual Labs, and Pearson are some of the key players in this market space.
This region-based report, virtual and remote laboratories market in the US, is part of Technavio’s education portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as education technology, K12 and higher education, and school and college essentials. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-users
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Other prominent vendors
PART 16: Appendix
PART 17: Explore Technavio
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