ID: MRFR/ICT/2937-HCR | February 2021 | Region: Global | 100 pages
With technological advancement education sector has evolved rapidly in the past few years. From print media to websites, learning has become easier with time. Virtual reality is the new revolution in the education sector. Virtual reality is a technology that use generates realistic sounds, images, videos to generate a real environment, and it has contributed in a big way to the education sector. E-learning virtual reality is a popular method of conducting virtual classes, sharing materials in various formats that include videos and webinars. The usual E-learning technology only gives images, texts, but with E-learning VR technology, the learner can have a better experience with a realistic experience.
Now VR technology attached to smartphones, and VR technology is all over the market. E-learning virtual has created a huge impacted the E-learning in a great way. With digitalization, classrooms are taking virtual form. With the Increasing demand for E-learning, E-learning virtual reality is all set to grow in the coming years. The hardware vendors and the educational content providers, increasing demand, government initiatives, and technological changes are fueling the E-Learning Virtual Reality market growth. Demand for better E-learning experience and distance education has further boosted the demand of the E-Learning Virtual Reality market.
This E-Learning Virtual Reality market report highlights the E-Learning Virtual Reality market is expected to reach $339 million with a CAGR rate of 42% by 2023. Advanced technology is used to record classes to provide a smart education system. This technology is adopted across various schools and institutes. The E-learning virtual reality system offers various advantages such as better learning programs, digital learning, and online learning resources. Nowadays, E-learning programs are priorities over traditional learning methods because they can minimize the costs and give many benefits to the students. The E-Learning Virtual Reality market is expected to see huge growth in the forecast period with the Increasing demand for e-learning platforms.
Many businesses around the world suffered due to the covid-19 pandemic. The business and all the sectors were closed due to covid-19 lockdown guidelines. As the lockdown was imposed all over the world, the education sector suffered the most. School, colleges, and all educational institutions were closed, and students weren’t allowed to leave their homes, but in this situation, E-learning virtual reality came to their rescue. Colleges, schools are educational institutions that depended heavily on E-learning methods. Students were joining online classes, and the studies weren’t disrupted with the help of E-learning technology. The government took initiatives to provide full support to E-learning technology, and therefore E-Learning Virtual Reality market had a high demand due to the covid-19 situation. Not only educational sectors but offices across the world also used E-learning virtual reality to run their business organizations. E-learning virtual reality provided great support to the office staff and businesses to run their organization smoothly. And it boosted E-learning virtual reality industry growth. Due to covid-19, all the sectors are now used to E-learning technology, and it will fuel the demand more in the forecast period.
There are many major factors that contributed to E-learning virtual reality business growth, and these are called the market drivers. The market drivers drive the demand of the market, but the market restraints can cause problems in the demand of the market.
Cumulative growth analysis
The E-learning virtual reality market segments are on the basis of component, technology, application, and Region.
The major regions that are part of E-learning virtual reality are North America, Europe, Asia Pacific, and other regions in the world. North America holds the largest share in the market due to the adoption of advanced technology and E-learning technology in this Region. North America has many developed countries that are providing full support to E-learning platforms, and it is driving the growth of market demand in this region. The Asia Pacific region is expected to register the highest CAGR rate in the forecast period because it is growing at a faster rate. The digitalization, and government initiatives, and adoption of E-learning in the healthcare sector are boosting the market growth in this region. The European Region is all set to see a huge growth in the E-Learning Virtual Reality market owing to the rapid growth of mobile learning applications.
These are major E-Learning Virtual Reality market players, and among them Google Inc. (U.S.), Contributing the most in the market.
Frequently Asked Questions (FAQ) :
The global e-learning virtual reality market is predicted to grow at a whopping 42% CAGR between 2017- 2023.
The global e-learning virtual reality market is predicted to reach USD 339 million by 2023.
North America will lead the global e-learning virtual reality market.
Key factors driving the global e-learning virtual reality market include technological advances and increased penetration of handheld devices.
Key players profiled in the global e-learning virtual reality market include Eon Reality Inc. (U.S.), ZSpace, Inc. (U.S.), Curiscope (U.K.), Google Inc. (U.S.), Schell Games (U.S.) , Gamar (U.S.) , Nearpod (U.S.), Thing link (Finland), Immersive VR Education (Ireland), Oculus VR (U.S.), Leap Motion, Inc. (U.S.) Barco N.V (Belgium) and Sixense Enterprises Inc. (U.S) among others.