Virtual Reality Market size in Education Sector to grow by USD 16.12 billion from 2021 to 2026, The market is fragmented due to the presence of prominent companies like Alchemy VR Ltd, Alphabet Inc. and Avantis Systems Ltd., and many more - Technavio

NEW YORK, Oct. 11, 2023 /PRNewswire/ -- The virtual reality market in education sector is estimated to grow by USD 16.12 billion from 2021 to 2026, growing at a CAGR of 59.28%. The virtual reality market in education sector is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer virtual reality market in education sector are Alchemy VR Ltd, Alphabet Inc., Avantis Systems Ltd., Curiscope Ltd., Eon Reality Inc., fotonVR, HTC Corp., Lenovo Group Ltd., Meta Platforms Inc., Microsoft Corp, Nearpod Inc., RedboxVR, Samsung Electronics Co. Ltd., Sony Group Corp, Unimersiv, Veative Labs, VictoryXR Inc., Virtalis Holdings Ltd., VR Owl Solutions BV, and zSpace Inc.. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying

Company Offering:

• Alchemy VR Ltd - The company offers virtual reality and graphic animation through its VFX studio.
• Alphabet Inc. - The company offers virtual reality software such as Cardboard and Earth VR.
• Avantis Systems Ltd. - The company offers virtual reality products such as ClassVR Premium Headset and ClassVR Standard Headset.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as North America, Europe, APAC, South America, Middle East, and Africa. 

• 34% of the market's growth will originate from North America during the forecast period. Growth in the region will be facilitated by increased emphasis on virtual reality's use within the education sector, as well as with the advent of cheaper and more accessible VR equipment. Hence, these factors are expected to drive market growth in the region during the forecast period. 

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• Impactful driver- increased affordability of VR gear
• Key Trend - Increasing number of social VR spaces
• Major Challenges - Lack of content

 Market Segmentation

• By Product, the market is classified into VR hardware and VR content. The virtual reality market share growth in the education sector by the VR hardware segment will be significant during the forecast period. The increasing affordability of virtual reality devices is a key factor that supports the market's growth. A number of companies, such as Oculus VR and HTC, have been reducing their price for virtual reality headsets due to lower cardboard prices.

Technavio Research experts have provided more insights on the market share of segments - View Free Sample Report

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by End-use

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio