Virtual Reality Market size in the Education Sector to grow by USD 16.12 billion from 2021 to 2026, Driven by the increased affordability of VR gear – Technavio

NEW YORK, March 30, 2023 /PRNewswire/ — The size of the global virtual reality market in education sector is estimated to increase by USD 16.12 billion from 2021 to 2026. The market’s growth momentum will progress at a CAGR of 59.28% during the forecast period. A key factor fueling the growth of 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 major barrier to the expansion of the market. However, because of the recent developments in technology and the economies of major companies, the cost of VR gear has been reduced significantly. Various companies providing VR headgear at premium prices have cut their prices and developed commercial versions of the headset. The emergence of low-priced VR devices has increased the market for VR content, especially for 360-degree video content-producing companies. Hence, the reduced prices are anticipated to encourage educational institutes to adopt VR headsets, which will increase the demand for the market during the forecast period. Discover some insights on market size (2021 to 2026) before buying the full report – Request a sample report

Virtual Reality Market in Education Sector – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on 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 market share growth in the education sector by the VR hardware segment will be significant for the global market growth 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 with major factor catering to the growth of the market being the increasing affordability of VR hardware. Because of the low cost of VR cardboard, many companies such as Oculus VR and HTC reduced their VR headset prices.

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Virtual reality market in education sector – Vendor Analysis
Vendor Landscape – The global virtual reality market in education sector is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer virtual reality in education sector in the market are 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. and others.

Vendor Offerings –

• Alchemy VR Ltd. – The company offers virtual reality and graphic animation through its VFX studio.
• Alphabet Inc. – The company offers virtual reality software such as Cardboard and Earth VR.
• Avantis Systems Ltd. – The company offers virtual reality products such as ClassVR Premium Headset and ClassVR Standard Headset.
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Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global virtual reality market in education sector.

• North America is estimated to account for 34% of the global market growth during the forecast period. The US is the key market for virtual reality in the education sector in the region. Market growth in this region is estimated to be faster than the growth of the market in South America. The growing 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.

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Virtual Reality Market in Education Sector – Market Dynamics

Key Trends – 

The rising number of social VR spaces is a virtual reality market trend in the education sector that is expected to have a positive impact during the forecast period. In a virtual environment, the quality of learning might reduce, as collaborative learning plays an effective role in effective and efficient learning. In order to overcome this challenge, many VR vendors are providing platforms that enable collaborative learning in the VR environment. This results 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. Thus, the increasing number of social VR spaces will drive the growth of the global virtual reality market in the education sector during the forecast period.

Major challenges – 

The lack of content will be a key challenge for the virtual reality market in the education sector. Even though there is high availability of VR gear and VR hardware, the VR industry lacks the availability of VR content. This can be attributed to factors such as the lack of VR developers in the market. VR headsets are now being sold at an increasingly attractive price. There is increased pressure on content makers for immersive and diversified content, which will remain the mainstay for mass consumption. Various companies provide VR content creation platforms to educators and teachers. Currently, 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. Hence, 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.

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What are the key data covered in this Virtual Reality Market in Education Sector report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the virtual reality market in the education sector between 2022 and 2026
• Precise estimation of the size of the virtual reality market in the education sector and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the virtual reality market 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 about vendors
• Comprehensive analysis of factors that will challenge the growth of the virtual reality market in the education sector vendors

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Related Reports:

The virtual reality (VR) in the gaming market is estimated to grow at a CAGR of 28.39% between 2022 and 2027. The size of the market is forecasted to increase by USD 17,853.41 million. The introduction of digital downloading in gaming consoles is notably driving the market growth.

The AR VR smart glasses market is estimated to grow at a CAGR of 13.8% between 2022 and 2027. The size of the market is forecasted to increase by USD 7,297.59 million. The emergence of simultaneous localization and mapping (SLAM) technology is the key trend in the global augmented reality and virtual reality smart glasses market.

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Table of Contents  

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 18: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 24: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments
• Exhibit 25: Chart on Product – Market share 2021-2026 (%)
• Exhibit 26: Data Table on Product – Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 27: Chart on Comparison by Product
• Exhibit 28: Data Table on Comparison by Product

• 5.3 VR hardware – Market size and forecast 2021-2026 
• Exhibit 29: Chart on VR hardware – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on VR hardware – Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on VR hardware – Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on VR hardware – Year-over-year growth 2021-2026 (%)

• 5.4 VR content – Market size and forecast 2021-2026 
• Exhibit 33: Chart on VR content – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on VR content – Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on VR content – Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on VR content – Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Product 
• Exhibit 37: Market opportunity by Product ($ million)

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 38: Chart on End-user – Market share 2021-2026 (%)
• Exhibit 39: Data Table on End-user – Market share 2021-2026 (%)

• 6.2 Comparison by End-user 
• Exhibit 40: Chart on Comparison by End-user
• Exhibit 41: Data Table on Comparison by End-user

• 6.3 Higher education – Market size and forecast 2021-2026 
• Exhibit 42: Chart on Higher education – Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Higher education – Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Higher education – Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Higher education – Year-over-year growth 2021-2026 (%)

• 6.4 K-12 – Market size and forecast 2021-2026 
• Exhibit 46: Chart on K-12 – Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on K-12 – Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on K-12 – Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on K-12 – Year-over-year growth 2021-2026 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 52: Chart on Market share by geography 2021-2026 (%)
• Exhibit 53: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 54: Chart on Geographic comparison
• Exhibit 55: Data Table on Geographic comparison

• 8.3 North America – Market size and forecast 2021-2026 
• Exhibit 56: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 57: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 58: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 59: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 8.4 Europe – Market size and forecast 2021-2026 
• Exhibit 60: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 62: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 63: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 8.5 APAC – Market size and forecast 2021-2026 
• Exhibit 64: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 66: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 67: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 8.6 South America – Market size and forecast 2021-2026 
• Exhibit 68: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa – Market size and forecast 2021-2026 
• Exhibit 72: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 8.8 US – Market size and forecast 2021-2026 
• Exhibit 76: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on US – Year-over-year growth 2021-2026 (%)

• 8.9 UK – Market size and forecast 2021-2026 
• Exhibit 80: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 8.10 Germany – Market size and forecast 2021-2026 
• Exhibit 84: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 8.11 China – Market size and forecast 2021-2026 
• Exhibit 88: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on China – Year-over-year growth 2021-2026 (%)

• 8.12 Australia – Market size and forecast 2021-2026 
• Exhibit 92: Chart on Australia – Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on Australia – Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on Australia – Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on Australia – Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography 
• Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 97: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 99: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 100: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 101: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 102: Matrix on vendor position and classification

• 11.3 Alchemy VR Ltd
• Exhibit 103: Alchemy VR Ltd – Overview
• Exhibit 104: Alchemy VR Ltd – Product / Service
• Exhibit 105: Alchemy VR Ltd – Key offerings

• 11.4 Alphabet Inc.
• Exhibit 106: Alphabet Inc. – Overview
• Exhibit 107: Alphabet Inc. – Business segments
• Exhibit 108: Alphabet Inc. – Key news
• Exhibit 109: Alphabet Inc. – Key offerings
• Exhibit 110: Alphabet Inc. – Segment focus

• 11.5 Avantis Systems Ltd.
• Exhibit 111: Avantis Systems Ltd. – Overview
• Exhibit 112: Avantis Systems Ltd. – Product / Service
• Exhibit 113: Avantis Systems Ltd. – Key offerings

• 11.6 Eon Reality Inc.
• Exhibit 114: Eon Reality Inc. – Overview
• Exhibit 115: Eon Reality Inc. – Product / Service
• Exhibit 116: Eon Reality Inc. – Key offerings

• 11.7 HTC Corp.
• Exhibit 117: HTC Corp. – Overview
• Exhibit 118: HTC Corp. – Product / Service
• Exhibit 119: HTC Corp. – Key offerings

• 11.8 Lenovo Group Ltd.
• Exhibit 120: Lenovo Group Ltd. – Overview
• Exhibit 121: Lenovo Group Ltd. – Business segments
• Exhibit 122: Lenovo Group Ltd. – Key offerings
• Exhibit 123: Lenovo Group Ltd. – Segment focus

• 11.9 Meta Platforms Inc.
• Exhibit 124: Meta Platforms Inc. – Overview
• Exhibit 125: Meta Platforms Inc. – Business segments
• Exhibit 126: Meta Platforms Inc. – Key news
• Exhibit 127: Meta Platforms Inc. – Key offerings
• Exhibit 128: Meta Platforms Inc. – Segment focus

• 11.10 Microsoft Corp
• Exhibit 129: Microsoft Corp – Overview
• Exhibit 130: Microsoft Corp – Business segments
• Exhibit 131: Microsoft Corp – Key news
• Exhibit 132: Microsoft Corp – Key offerings
• Exhibit 133: Microsoft Corp – Segment focus

• 11.11 Sony Group Corp
• Exhibit 134: Sony Group Corp – Overview
• Exhibit 135: Sony Group Corp – Business segments
• Exhibit 136: Sony Group Corp – Key offerings
• Exhibit 137: Sony Group Corp – Segment focus

• 11.12 Virtalis Holdings Ltd. 
• Exhibit 138: Virtalis Holdings Ltd. – Overview
• Exhibit 139: Virtalis Holdings Ltd. – Product / Service
• Exhibit 140: Virtalis Holdings Ltd. – Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 141: Inclusions checklist
• Exhibit 142: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 143: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 144: Research methodology
• Exhibit 145: Validation techniques employed for market sizing
• Exhibit 146: Information sources

• 12.5 List of abbreviations 
• Exhibit 147: List of abbreviations

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