LONDON, 24 Feb. 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s Virtual Reality in Education Market Research Report, increasing internet penetration will drive the growth of virtual reality in the education market. education during the forecast period. The internet plays a crucial role in people’s lives today, as a large part of people’s lives are immersed in digital technology. The internet has become an effective platform for delivering virtual lessons due to its consistent interface, low connection cost, and universal appeal.
For example, according to the Internet World Stats report, global Internet users reached 5.1 billion in March 2021. Also, according to the Techjury report, the global online learning industry is expected to reach $325 billion by 2021 penetration is propelling the growth of virtual reality in the education market.
The size of the global virtual reality in education market is expected to grow from $6.37 billion in 2021 to $8.66 billion in 2022 at a compound annual growth rate (CAGR) of 36%. The development of virtual reality in the education market growth is mainly due to the stabilization of the production of the companies after meeting the demand which increased exponentially during the COVID-19 pandemic in 2020. The market should reach $32.94 billion in 2026 at CAGR of 39.7%.
Demand for a sample of the world virtual reality in education market report
The development of Augmented Reality (AR) applications by leveraging the upcoming 5G technology is shaping the market according to TBRC’s Virtual Reality in Education industry analysis. With its high-speed network, 5G provides a convenient experience and easy access to applications, while 4G technology struggles with the use of virtual or augmented reality in educational applications. These robotic apps help kids solve learning problems, allowing them to get an education from the comfort of their own home while giving them faster access to cloud-based materials. For example, in March 2021, Fisk University, HTC VIVE, T-Mobile, and VictoryXR teamed up to launch the first-ever 5G-enabled interactive VR human cadaver lab for learning training for pre-medical and related majors. to biology.
Major Virtual Reality Players in Education Market are Google, Microsoft Corporation, Facebook Technologies LLC, IBM Corporation, HTC Corporation, Unimersiv, Samsung, Lenovo Group Limited, Sony Corporation, Alchemy Immersive, Avantis Systems Ltd, Veative Labs Pvt. Ltd., VR Education Holdings, Cyberith, Sixense Enterprises Inc and Vuzix, Schell Games.
The global Virtual Reality in Education market research report is segmented by Component into Hardware, Solutions and Software; by deployment in the cloud, on premises; by application in residential, academic and training institutions, others.
According to TBRC’s Virtual Reality in Education Market Snapshot, in 2021, North America was the greater region on the market. Regions covered in the Virtual Reality in Education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Global Virtual Reality in Education Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provide insights into the Virtual Reality market in Education, Virtual Reality in Education market size and forecast Market size and growth for the overall market, Virtual Reality in Education market segments and geographies, Virtual Reality in Education Market Trends, Virtual Reality in Education Market Drivers, Virtual Reality in Education Market Constraints, Virtual Reality in Education Market Competitor Revenues , profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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