Global Augmented and Virtual Reality in Education Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Augmented and Virtual Reality in Education Market is estimated to be USD 3.26 Bn in 2023 and is expected to reach USD 7.53 Bn by 2028 growing at a CAGR of 18.23%.

The Global Augmented and Virtual Reality in Education Market is transforming, fundamentally altering how educators and students interact with the learning process. Augmented Reality (AR) and Virtual Reality (VR) technologies have gained prominence within the education sector primarily because of their potential to revolutionize conventional teaching methodologies. The market, driven by dynamic forces, is anticipated to experience substantial growth in the years ahead.

AR and VR technologies provide an immersive and interactive educational experience, captivating students' attention and rendering complex concepts more approachable. These technologies offer tailored learning experiences, adapting content to suit individual student needs and fostering active engagement, critical thinking, and problem-solving. The global market is influenced by various drivers, including the growing emphasis on inventive and engaging educational methods, the demand for practical training, and the global accessibility made possible by virtual classrooms.

Market Segmentations

• The Global Augmented and Virtual Reality in Education Market is segmented based on Offering, Device Type, Deployment, Application, and Geography.
• The global Augmented and Virtual Reality in Education market, segmented by its offerings, encompasses a broad range of products and services strategically designed to integrate AR and VR technologies into educational settings seamlessly. These offerings include hardware solutions, head-mounted displays, AR glasses, and content development and learning management software. Additionally, various services, such as training and professional development, are available, along with a spectrum of content choices, from pre-constructed modules to tailored educational materials. Furthermore, a selection of accessories and deployment models rounds out the offerings, catering to the diverse requirements of educational institutions and educators. These comprehensive resources empower the creation of immersive and captivating learning experiences that span various subjects and educational levels, from K-12 to higher education and even professional training.

Recent Development

• Meta collaborates with 15 universities in the US to grow the adoption of AR/VR in conducting classroom sessions and exercises. - September 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Meta, Sony, Microsoft, Lenovo, Panasonic, Google LLC, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Augmented and Virtual Reality in Education Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Augmented and Virtual Reality in Education Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Augmented and Virtual Reality in Education Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market