Virtual Reality Market in Education Sector by Product. End-user, and Geography - Forecast and Analysis 2022-2026

The virtual reality market share in the education sector is expected to increase by USD 16.12 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 59.28%.

This virtual reality market the in education sector research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers virtual reality market segmentation in the education sector by product (VR hardware and VR content), end-user (higher education and K-12), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The virtual reality market the in education sector report also offers information on several market vendors, including Alchemy VR Ltd, Alphabet Inc., Avantis Systems Ltd., Curiscope Ltd., Eon Reality Inc., fotonVR, HTC Corp., Lenovo Group Ltd., Meta Platforms Inc., Microsoft Corp, Nearpod Inc., RedboxVR, Samsung Electronics Co. Ltd., Sony Group Corp, Unimersiv, Veative Labs, VictoryXR Inc., Virtalis Holdings Ltd., VR Owl Solutions BV, and zSpace Inc. among others.

What will the Virtual Reality Market Size in Education Sector be During the Forecast Period?

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Virtual Reality (VR) in Education Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increased affordability of VR gear is notably driving the virtual reality market growth in the education sector, although factors such as lack of content may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the virtual reality industry in the education sector. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key VR in Education Market Driver

One of the key factors driving growth in the virtual reality market in the education sector is the increased affordability of VR gear. Initially, VR hardware products were extremely expensive to purchase, which was a big barrier to the expansion of the market. However, owing to the recent developments in technology and the economies of scale possessed by major companies, the cost of VR gear has been reduced by a significant figure. Many companies providing VR headgear at premium prices have cut their prices and developed commercial versions of the headset. This advent of VR cardboard by Google and Samsung VR gear compatible with smartphones is the major factor contributing to the decline in prices. The emergence of low-priced VR devices has also increased the market for VR content, especially for 360-degree video content-producing companies. Decreasing prices of VR headsets is anticipated to encourage educational institutes to adopt them.

Key VR in Education Market Trend

The increasing number of social VR spaces is a virtual reality market trend in the education sector that is expected to have a positive impact in the coming years. In a virtual environment, users are isolated from the real physical world and are subjected to a virtual environment. This might bring down the quality of learning, as collaborative learning plays an effective role in effective and efficient learning. To overcome this challenge, many VR vendors are providing platforms that enable collaborative learning in the VR environment. This has resulted in the growth of social VR spaces, wherein the students can communicate and connect with other students. Major vendors such as Microsoft and Facebook are increasingly emphasizing the incorporation of virtual spaces. Hence, an increasing number of social VR spaces will drive the growth of the global virtual reality market in the education sector during the forecast period.

Key VR in Education Market Challenge

The lack of content will be a major challenge for the virtual reality market in the education sector during the forecast period. Though there is high availability of VR gear and VR hardware, the VR industry lacks the availability of VR content. This is primarily due to the lack of VR developers in the market. With VR headsets now being sold at an increasingly attractive price, there is increased pressure on the content makers for immersive and diversified content, which will remain the mainstay for mass consumption. There are various companies that provide VR content creation platforms to educators and teachers. However, both teachers and educators lack the ability and technology know-how to work with it. At present, most institutions, especially in APAC, are facing challenges in the conversion and application of curriculum-based content into digital formats owing to the low technology literacy among educators. This, further coupled with the extent of additional costs involved, also plays a significant role in hampering the overall digitization process as institutions run on stringent budgets. Therefore, lack of content can become a major challenge for the growth of the global virtual reality market in the education sector during the forecast period.

This virtual reality in education market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global virtual reality market in the education sector as a part of the global technology hardware, storage, and peripherals market within the global information technology market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the virtual reality market in the education sector during the forecast period.

Who are the Major Virtual Reality Market Vendors in Education Sector?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Alchemy VR Ltd
• Alphabet Inc.
• Avantis Systems Ltd.
• Curiscope Ltd.
• Eon Reality Inc.
• fotonVR
• HTC Corp.
• Lenovo Group Ltd.
• Meta Platforms Inc.
• Microsoft Corp
• Nearpod Inc.
• RedboxVR
• Samsung Electronics Co. Ltd.
• Sony Group Corp
• Unimersiv
• Veative Labs
• VictoryXR Inc.
• Virtalis Holdings Ltd.
• VR Owl Solutions BV
• zSpace Inc.

 

This statistical study of virtual reality in the education market encompasses successful business strategies deployed by the key vendors. The VR in the education market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• alchemyimmersive.com - The company offers virtual reality and graphic animation through its VFX studio.

• alchemyimmersive.com - Under the unified segment, the company provides complete production across a range of platforms such as iOS, Magic Leap, and Oculus, including creative development, real-time engine development, asset creation, post-production, and 360 films.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The virtual reality in education market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Virtual Reality (VR) in Education Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the VR in the education market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Virtual Reality (VR) in Education Market?

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34% of the market’s growth will originate from North America during the forecast period. The US is the key market for virtual reality in the education sector in North America. Market growth in this region will be faster than the growth of the market in the South American regions.

The increased emphasis on the applicability of VR in the education market, along with the emergence of low-cost affordable VR gear will facilitate the virtual reality market growth in the education sector in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVD-19 in 2020 severely affected the growth of the education sector in North America. To contain the spread of the pandemic, strict lockdowns were imposed in the US, Canada, and Mexico, which led to the shutdown of various sectors, including education. However, with the removal of lockdown in the second half of 2020 due to large-scale vaccination drives and the growing preference for practical knowledge and online education, the regional VR in the education market is expected to grow during the forecast period.

What are the Revenue-generating Product Segments in the Virtual Reality (VR) in Education Market?

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The virtual reality market share growth in the education sector by the VR hardware segment will be significant during the forecast period. The global virtual reality hardware market in the education sector is expected to record a rapid growth rate during the forecast period. The major factor catering to the growth of the market is the increasing affordability of VR hardware. Owing to the low cost of VR cardboard, many companies such as Oculus VR and HTC reduced their VR headset prices.

This report provides an accurate prediction of the contribution of all the segments to the growth of the VR in education market size and actionable market insights on post COVID-19 impact on each segment.

 

Virtual Reality Market Scope in Education Sector
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 59.28%
Market growth 2022-2026	$ 16.12 billion
Market structure	Fragmented
YoY growth (%)	59.17
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 34%
Key consumer countries	US, China, Australia, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Alchemy VR Ltd, Alphabet Inc., Avantis Systems Ltd., Curiscope Ltd., Eon Reality Inc., fotonVR, HTC Corp., Lenovo Group Ltd., Meta Platforms Inc., Microsoft Corp, Nearpod Inc., RedboxVR, Samsung Electronics Co. Ltd., Sony Group Corp, Unimersiv, Veative Labs, VictoryXR Inc., Virtalis Holdings Ltd., VR Owl Solutions BV, and zSpace Inc.
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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What are the Key Data Covered in this Virtual Reality (VR) in Education Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the virtual reality market growth in the education sector during the next five years
• Precise estimation of the virtual reality market size in the education sector and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the virtual reality industry in the education sector across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the virtual reality market vendors in the education sector 

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