AR and VR in Education Market Trends and Forecasts
The rapidly expanding field of augmented and virtual reality (AR) and virtual reality (VR) in education is highlighted by 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". With a projected value of USD 2.9 billion in 2022 and a robust CAGR of 29.6% between 2023 and 2028, the global market for AR and VR in education is expected to reach USD 14.2 billion by 2028. The increased incorporation of immersive technology in educational settings, which improve learning outcomes and experiences, is the primary driver of this notable growth.
Traditional educational methods are being transformed by the use of AR and VR tools in corporate training programmes and academic institutions. These tools offer interesting and interactive information that caters to different learning styles. The cloud-based deployments' flexibility and the progress made in software and hardware mean that the AR and VR education industry is expected to grow significantly in various industries and geographies. The growing need for cutting-edge educational programmes that equip students for the rapidly changing digital environment is another factor driving this expansion.
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Several important factors are driving the increase in demand for AR and VR devices in the educational space. One of the main effects of these technologies is enhanced learning through visualisation, which allows students to visualise difficult ideas in three-dimensional (3D) contexts. This revolutionary method also applies to corporate training, where realistic simulations are made possible by immersive AR and VR technology, which enhance retention of skills and knowledge. Continuous innovation and development in AR and VR technologies propels the advancement of teaching strategies, providing students with more dynamic and captivating learning opportunities. Furthermore, these technologies have enabled the development of personalised learning experiences that adjust to the unique learning styles and paces of each student, improving academic results.
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.
Driver: Enhanced understanding through visualization
One of the main forces behind the use of AR and VR in education is the visualisation of difficult topics. These technological advancements foster a greater comprehension of abstract concepts in pupils by producing immersive and engaging experiences. AR and VR facilitate learning by allowing students to interact with 3D models and simulations, which helps them better understand challenging concepts like scientific principles, mathematical concepts, and historical events. In the end, improving educational outcomes and creating a more stimulating and productive learning environment are the goals of this practical, hands-on approach that takes into account different learning styles and aids in closing the knowledge gap between theory and practice.
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The use of augmented reality (AR) in the classroom has greatly improved learning, and this is just one benefit of its integration into education. AR has shown to be very helpful in the teaching of geometry, for example. With AR, geometric shapes and concepts can be visualised and manipulated, making it possible to explain basic concepts like perimeters, areas, and diameters in a more engaging and understandable way. Augmented Reality (AR) facilitates pupils' comprehension and retention of intricate geometric concepts by overlaying digital content over the real world. In addition to making abstract ideas more relatable, this immersive learning method increases student motivation and engagement.
Virtual reality (VR) is a potent educational tool because it provides immersive experiences in parallel realms that closely mimic the real one. Students can learn complex subjects more easily and develop cross-cultural relationships because to this technology. Educators can encourage acceptance of differences among pupils by using virtual reality (VR) to emphasise the value of respecting and embracing cultural diversity. Virtual reality's interactive features let students interact with a variety of settings and experiences, creating a more welcoming and compassionate learning environment. By virtually exploring various cultures, historical occurrences, and global viewpoints, students can improve their comprehension and admiration of the world they live in.
SONY GROUP CORPORATION
The Sony Group Corporation is a global technology and media company that develops, designs, manufactures, markets, and sells a variety of electronic instruments, gadgets, and equipment for use by industries and consumers. The company's manufacturing facilities, most of which are in Asia, support its operations and allow it to effectively create and sell its wide range of products. Sony Group Corporation's wide market presence is also a result of its involvement in a number of financial services ventures, including as life and non-life insurance activities. In order to increase its power and reach in the local market, the company also operates network services and advertising agencies in Japan. Sony is able to consistently drive innovation and growth by maintaining a strong position across several sectors because to its diversified business model.
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The Sony Group Corporation divides up its business activities into the following reportable segments: Entertainment, Gaming & Network Services, Music, Pictures, Imagination & Sensing Solutions, Technology & Services, and Financial Services. Sony makes use of its global reach and technological know-how to provide a wide range of goods and services through these business categories. Notably, the company's Game & Network Services, Entertainment, Technology & Services, and Imaging & Sensing Solutions businesses offer augmented reality (AR) and virtual reality (VR) solutions. Sony's leadership in the immersive technology market is cemented by this strategic focus, which enables it to integrate state-of-the-art AR and VR technologies to improve user experiences in professional, gaming, and entertainment applications.
North America is expected to hold the largest share of the AR and VR in the education market during the forecast period.
In terms of AR and VR in education, North America accounted for the greatest market share in 2028. The region's strong educational infrastructure, which consists of numerous well-known universities with a reputation for offering top-notch instruction, is what propels this domination. The adoption of sophisticated classroom technology and smart education has accelerated in both corporate and educational environments due to technological improvements, resulting in customised learning experiences. The two countries that contribute most to this sector are the United States and Canada, whose developed economies allow for large investments in R&D. The education sector has grown tremendously as a result of the rapid expansion of the startup culture in North America, as well as the broad digitalization of numerous businesses and the rising use of smart, connected gadgets.
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