Virtual reality enables a user to communicate with a three-dimensional image or virtual world created by a machine. Virtual reality increases a student’s engagement. As a hands-on, engaging, immersive experience, it presents students with a new form of learning, providing exciting new opportunities they could not have encountered before. The virtual reality in education market in Asia Pacific is expected to expand at the highest CAGR during the forecast period. China, India, and Japan are some of the major countries which drive the market in this region. Rising demand for advanced education programs in India, China, and Japan is likely to augment the market in the Asia Pacific region.
The effect of Corona virus has directly affected the development of the market. As a consequence of the corona virus lockout, the majority of classrooms, colleges and educational institutions closed, which directly hindered the demand for VR in the education sector.Earlier, adoption of virtual reality devices was low due to their prohibitive cost. However, adoption of virtual reality gear has improved owing to technical advances and economies of scale of major businesses. The growing affordability of virtual reality devices and applications is one of the key drivers of development for virtual reality in the education field.
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The production of consumer models of VR headphones, such as VR Cardboard by Google and GearVR by Samsung, which are integrated with smartphones, results in reduced price. In comparison, companies such as Oculus, HTC, and Sony have reduced the price of their VR devices. Affordability of VR hardware, combined with the emergence of easy-to-use content production tools, is projected to accelrate the VR market in the eduction sector .
North America Led the Global Market in 2019
- Based on region, the global virtual reality in education market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America held a dominant share of the global virtual reality in education market in 2019. It is expected to continue its dominance throughout the forecast period. The U.S. and Canada are the major countries that drive the market in this region. Enhanced focus on the effectiveness of VR in the education industry, along with the advent of low-cost, reliable VR hardware, is expected to substantially fuel the growth of the virtual reality in education market in this region over the projected period.
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Key Players Operating in the Global Market
Key players operating in the global virtual reality in education market are listed below:
- Alchemy Immersive
- Avantis Systems Ltd.
- EON Reality Inc.
- Facebook Technologies, LLC.
- HTC Corporation
- Schell Games
- Veative Labs
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