Global Virtual Reality Market in Education Sector 2018-2022
About Virtual Reality in Education Sector
Virtual reality is the use of computer technology to create a simulated environment isolating the user from the physical environment and enabling him/her to enter an alternate reality.
Technavio’s analysts forecast the global virtual reality market in education sector to grow at a CAGR of 59.14% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global virtual reality market in education sector for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Virtual Reality Market in Education Sector 2018-2022
Technavio recognizes the following companies as the key players in the global virtual reality market in education sector: Alchemy VR, Avantis Education, EON Reality, Google, Oculus VR, and Virtalis.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing number of social VR spaces. In a virtual environment, the users are isolated with the real physical world, and they are subjected to a virtual environment. This might bring down the quality of learning as collaborative learning plays an effective role in effective and efficient learning. To overcome this challenge, many VR vendors are providing platforms that enable collaborative learning in the VR environment.”
According to the report, one driver in the market is increased affordability of VR gear. One of the most significant drivers in the VR market in the education sector is the increasing affordability of VR gear. Initially, VR hardware products were extremely expensive to purchase, which was a big barrier to the expansion of the market. However, owing to the recent developments in technology and the economies of scale possessed by major companies, the cost of VR gear has reduced by a significant figure.
Further, the report states that one challenge in the market is lack of content. Though there is massive availability of VR gear and VR hardware, the VR industry lacks the availability of VR content. This is primarily due to the lack of VR developers in the market. With VR headsets now being sold at an increasingly attractive price, there is increased pressure on the content makers for immersive and diversified content, which will remain in the mainstay for mass consumption.
Alchemy VR, Avantis Education, EON Reality, Google, Oculus VR, and Virtalis.
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