Expert Market Research’s new report titled “Global Virtual reality in the education market’ Report and Forecast 2021-2026′, gives an in-depth analysis of the global Virtual Reality in Education market, assessing the market based on its segments such as component type, deployment mode, application and major regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2021-2026)
- Forecast CAGR (2021-2026): 40%.
Previously, due to their high prices, the acceptance of virtual reality systems was low. However, due to rapid technological developments and economies of scale by large corporations, there has been an increase in the acceptance of virtual reality. One of the main drivers for the growth of virtual reality in education is the increasing affordability of virtual reality devices and applications. The industry is driven by the increasing accessibility of VR equipment. In addition, the easy-to-use content creation platform is also expected to fuel the development of the global virtual reality education market in the forecast era. North America held a major share of the virtual reality market in the education industry across the globe. Its dominance is expected to continue during the forecast period. The United States and Canada are the main countries driving demand in this field.
Industry definition and major segments
Virtual reality helps a user interact with a three-dimensional machine-made image or a virtual world. Virtual reality increases student participation. It offers students a new way to learn in the form of a hands-on, interactive and immersive experience, providing exciting new experiences they have never had before.
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On the basis of components, the market can be split as follows:
- The solution
Based on Deployment Mode, the market is split into:
Application Bases, market is segmented into:
- Higher Education
- Professional training
- Health and life sciences
- IT and Telecom
- Retail and e-commerce
- Government and public sector
Regional markets for virtual reality in education include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The many partnerships, such as Queens University of Canada and SimforHealth’s partnership with HTC to open a virtual reality training center for medical students to gain experience in real-time operations in a virtual environment interactive, drive the growth of virtual reality in education in the market. In the virtual environment, HTC Vive can also include a wide range of clinical scenarios. In the years to come, this partnership should make it possible to increase sales of virtual reality in the education sector. The growing number of VR social spaces will have a positive impact on the industry and greatly contribute to its development in the years to come. Virtual reality will replace written manuals, posters, manuals and physical paper models. All of these factors are expected to accelerate the growth of Virtual Reality in Education in the industry.
Main market players
Major market players include Google LLC, IBM Corporation, Samsung Electronics Co Ltd, Lenovo Group Limited, Sony Corp, Avantis Systems Ltd, among others. The report covers market shares, capacities, plant rotations, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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