AR and VR in Education Market to Cross USD 30.7 Billion by 2031 Owing to Surging Demand for Interactive Learning Experiences

The AR And VR In Education Market is Driven by remarkable Increase, with a projected market size of USD 30.7 Billion at CAGR of 26.4 % by 2031. This phenomenal growth can be attributed to the increasing demand for interactive learning experiences that Improve the student engagement, comprehension, and career preparedness. Technological advancements in AR and VR are paving the way for immersive learning environments that transcend the limitations of traditional textbooks and lectures.

Revolutionizing Education Through Technology

The Complex concepts often pose a challenge for traditional learning methods. AR and VR bridge this gap by creating immersive and interactive experiences that promote visual learning. Students can interact with 3D models, explore historical periods, or delve into the human body in a way that textbooks simply cannot replicate. This fosters deeper comprehension and knowledge retention. AR and VR technologies prepare students for the future by simulating real-world scenarios and fostering practical skills. For example, VR can immerse students in virtual labs for safe and efficient science experiments or transport them to construction sites, allowing them to visualize architectural designs and construction processes. This practical application of knowledge equips students with valuable skills for their chosen career paths. The Pandemic has significantly impacted education, accelerating the adoption of virtual reality for remote learning. VR allows students to participate in interactive simulations and collaborate with peers in virtual classrooms, regardless of their physical location. This flexibility and accessibility have Driven the widespread acceptance of VR as a powerful educational tool.

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Top Companies Featured in AR and VR in Education Market Report:

• Sony Group Corporation (Japan)
• HTC Corporation (Taiwan)
• Meta (US)
• Google (US)
• Microsoft (US)
• Panasonic Holdings Corporation (Japan)
• Vuzix (US)
• Cornerstone OnDemand
• (US)
• Anthology Inc. (US)
• Lenovo (Hong Kong)

AR and VR in Education Industry Segmentation as Follows:

By Offering, Based on Offering the Hardware segment dominates the market with holding Highest share of Revenue, encompassing head-mounted displays, VR goggles, controllers, and other peripherals necessary to deliver immersive AR/VR experiences.

By End-Use, in terms of End use the Academic institutions segment Dominates Market, including K-12 schools and higher education institutions, are expected to hold the highest CAGR. This is due to their growing focus on incorporating innovative technologies for a more engaging and flexible learning environment.

Recent Developments Shaping the Market

• January 2023: HTC Corporation launched the VIVE XR Elite headset, a versatile device combining Mixed Reality (MR) and VR capabilities, catering to education, gaming, and professional applications.
• January 2023: Panasonic partnered with Biel Glasses to develop smart glasses designed to assist visually impaired individuals, potentially increasing their access to educational resources.
• March 2022: Google acquired Raxium, a leader in MicroLED display technology, signifying its commitment to developing AR headset technology for the education sector.

Impact of Global Challenges

The Russia-Ukraine war and potential economic slowdown pose potential challenges to the market’s growth. Gowing costs of raw materials could impact hardware production and affordability. The economic downturns might lead to budget cuts in educational institutions, potentially hindering their adoption of AR/VR technologies. the long-term benefits of AR and VR in education, integrates with government initiatives promoting technological integration in classrooms, are expected to mitigate these challenges.

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North America Leads the Regional Landscape

North America currently Dominates the global AR and VR in education market. This dominance can be attributed to Advanced technological infrastructure facilitates the development and implementation of AR/VR solutions. Significant investments in research and development fuel continuous innovation in the field. A high level of awareness and acceptance of AR/VR technologies among educators and students creates a strong foundation for market growth.

Key Takeaways:

• The report explores recent advancements in AR and VR technologies, including the launch of versatile headsets and partnerships for developing assistive smart glasses. These advancements highlight the continuous innovation shaping the market.
• The report acknowledges potential challenges Such as supply chain disruptions and economic downturns. it emphasizes the long-term benefits of AR and VR in education, coupled with government initiatives promoting technology integration, which are expected to propel market growth.
• The AR and VR in education market is experiencing a significant expansion driven by the demand for interactive and engaging learning experiences.
• Hardware dominates the market, while academic institutions are expected to be the leading end-use segment.

Major Key Points from Table of Content

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. AR and VR in Education Market Segmentation, By Offerings
9. AR and VR in Education Market Segmentation, By Devices Type
10. AR and VR in Education Market Segmentation, By Service
11. AR and VR in Education Market Segmentation, By Deployment
12. AR and VR in Education Market Segmentation, By Application
13. AR and VR in Education Market Segmentation, By End Use
14. Regional Analysis
15. Company Profile
16. Competitive Landscape
17. USE Cases and Best Practices
18. Conclusion

Continued….

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