The report “Augmented and Virtual Reality in Education Market by offering type (software, hardware, services), device type, deployment (on-premise, cloud), application, end user (academic institutions, corporates) and Region – Global Forecast to 2028” The global AR and VR in education market was valued at USD 2.9 billion in 2022 and is projected to reach USD 14.2 billion by 2028; it is expected to register a CAGR of 29.6% between 2023 and 2028.
The rise in demand for AR and VR devices is attributed to Enhanced understanding through visualization, transforming corporate training through immersive augmented and virtual reality technologies, advancing education through ongoing innovation and expansion in AR & VR technology, the emergence of advancing personalized learning experiences, and real-world application and career readiness.
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Key Market Players
Sony Group Corporation (Japan), HTC Corporation (Taiwan), Meta (US), Google (US), Microsoft (US), Panasonic Holdings Corporation (Japan), Vuzix (US), Cornerstone OnDemand, Inc. (US), Anthology Inc. (US), Lenovo (Hong Kong) are some of the key players in the AR and VR in education companies.
Browse 190 market data Tables and 63 Figures spread through 239 Pages and in-depth TOC on “Augmented and Virtual Reality in Education Market by offering type (software, hardware, services), device type, deployment (on-premise, cloud), application, end user (academic institutions, corporates) and Region – Global Forecast to 2028”
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Driver: Enhanced understanding through visualization
Visualization of complex concepts serves as a powerful driver for incorporating AR and VR technologies in education. These technologies create immersive and interactive experiences that engage students and promote a deeper understanding of abstract ideas.
The integration of augmented reality (AR) in education has had a significant positive impact, enhancing the learning process in the classroom. One particular area where AR has proven beneficial is in geometry teaching, as it enables the explanation of fundamental operations like perimeters, areas, and diameters. In this section, we will delve into the application of AR in education, exploring its advantages and benefits for students.
Virtual reality (VR) offers immersive experiences in alternate realities that closely resemble the real world. This technology has found applications in education, where it facilitates the learning of complex subjects and fosters cultural connections among students. By leveraging VR, educators can teach the importance of respecting and appreciating cultural diversity, promoting acceptance of differences among students. The interactive nature of virtual reality allows students to engage with diverse environments and experiences, leading to a more inclusive and empathetic learning environment.
SONY GROUP CORPORATION
Sony Group Corporation is a multinational technology and media conglomerate engaged in the development, design, manufacture, offer, and sale of various kinds of electronic equipment, instruments, and devices for consumers and industries. The company operates through its manufacturing facilities, located primarily in Asia. In addition, Sony Group Corporations are engaged in various businesses related to financial services, including life and non-life insurance operations. Moreover, it is involved in network services and advertising agency businesses in Japan.
Sony Group Corporation classifies its business operations under the following reportable segments: Game & Network Services, Music, Pictures, Entertainment, Technology & Services, Imaging & Sensing Solutions, and Financial Services. The company offers AR and VR through its Game & Network Services, Entertainment, Technology & Services, and Imaging & Sensing Solutions segment.
North America is expected to hold the largest share of the AR and VR in the education market during the forecast period.
North America held the largest share of the AR and VR in education market in 2028. The education industry always seeks growth in North America, due to the presence of many prominent educational institutions and the quality education provided by them. Technological advancements have led to the rise in the adoption of smart education and technologically advanced classrooms in educational and corporate setups, which help to create a learning environment that is focused on an individual’s or organization’s learning needs. The US and Canada are the top contributing countries to the virtual classroom market in this region. These countries have established economies, which empower them to strongly invest in R&D activities. Moreover, the startup culture in North America is growing rapidly in comparison to the other regions. The rapid digitalization across industry verticals, the increasing adoption of smart connected devices, and the rising technological advancements have further fueled the growth of the education sector in this region.
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