Technavio's latest market research report on the global virtual reality market in the education sector provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global virtual reality market in education sector from 2018-2022. (Graphic: Business Wire)
According to Technavio analysts, the global virtual reality market in the education sector will grow at a CAGR of over 59% during the forecast period. The increasing need for experiential learning is a major factor driving the market's growth.
With VR, a student can enter a simulated virtual environment, thereby limiting the extent of contact to the physical environment. This technology of VR has proved to be successful in schools, colleges, and museums. The VR technology provides a good medium for experiential learning and enables a student to easily interact with the objects created in the simulated environment and work in collaboration with each other in complex scenarios.
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In this report, Technavio highlights the increasing number of social VR spaces as one of the key emerging trends driving the global virtual reality market in the education sector:
Increasing number of social VR spaces
In a virtual environment, the users are secluded from the physical world, and they are subjected to a virtual environment. It is expected to bring down the quality of learning as collaborative learning plays an effective role in effective and efficient learning. VR manufacturers are providing platforms that enable collaborative learning in the VR environment to overcome this challenge. This led to the growth of social VR spaces, wherein the students can communicate and connect with other students. VR vendors are increasingly opting for VR spaces considering the criticality of the isolation faced by an individual in a VR and the possibility of developing motion sickness.
"Major players in the market are emphasizing on the incorporation of virtual spaces. Companies are also providing various avatars which supports multiplayer sessions that allow the students to socialize and interact with other users. Such advancements also provide a front row feature wherein the students can be a part of an event or audience and other small groups. Such technological features and advancements are expected to drive the market in the forecast period," says a senior analyst at Technavio for research on education technology
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Global virtual reality market in the education sector segmentation
This market research report segments the global virtual reality market in the education sector into the following products (VR hardware and VR content), end-users (higher education and K-12), and key regions (the Americas, APAC, and EMEA).
The VR hardware segment held the largest market share in 2017, accounting for nearly 59% of the market. However, the market share for this product is expected to decrease nearly 3% by 2022. The fastest growing product is VR content, which is expected to increase nearly 3% by 2022.
The Americas was the leading region for the global virtual reality market in the education sector in 2017, accounting for a market share of 43%. By 2022, the market share for the Americas is expected to decrease by 4%. However, EMEA and APAC are expected to witness growth by 2% and 1% respectively.
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