LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global visual technologies in the education market to grow at a CAGR of close to 33% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global visual technologies in the education market for 2017-2021. The report also lists 3-D printing, visual data analytics, AR and VR as the four major product segments, of which the 3-D printing segment accounted for more than 65% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global visual technologies in education market:
- Surging investments in improving technology infrastructure
- Expedites learning process
- Rising government initiatives and funding
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Surging investments in improving technology infrastructure
Schools and colleges have increasingly started spending on developing infrastructure to provide digital solutions to students. Various institutions are replacing conventional classrooms with virtual classrooms.
Many universities in advanced economies are using latest technology solutions that can be incorporated with visual technologies such as AR and VR to create an interactive learning environment for students. Educational institutions are collaborating with various market vendors to leverage the innumerable benefits provided by these visual technologies.
According to Jhansi Mary, a lead analyst at Technavio for education technology research, “Educational institutions are making investments to improve their infrastructure which will lead to the accentuated demand for visual technologies. This will lead to the penetration of various visual technology products and solutions, which can be offered at different price ranges for the K-12 and higher education market.”
Expedites learning process
The learning process is accelerated with the use of visual technologies that are integrated with conventional teaching methodologies. Since it is easier for students to remember clips of images and videos, the introduction of these technologies in textbooks, pens, and other educational accessories is expected to augment the learning speed. Also, the use of 3-D printing and AR allows students to enhance their creative skills, which are required in several emerging career options such as animation, robotics, programming, and coding. These technologies help educators in improving their content through interactive visualizations and simulations, simplifying learning concepts.
Learning complex topics from subjects, including science, mathematics, technology, and engineering using data models, data displays, interactive maps, timelines, animation, and others helps students in creating a visual link between new ideas and lessons conducted in classrooms. The use of these technologies not only makes learning easy but also allows educators to imbibe social skills among students by engaging them in collaborative learning and making them work in teams. As a result, students develop the necessary employability and interpersonal skills.
Rising government initiatives and funding
The deployment of futuristic technologies such as AR, VR, 3-D printing, and visual analytics in various educational institutions has been a significant aspect of annual budgets released by several governments across the globe. Various governments are taking initiatives to promote the use of visual technologies in schools and universities to provide effective learning platforms to the millennial and next generation students. The US Department of Education launched the EdSim Challenge in 2015. This challenge required members of the EdTech community and developers to find out new ways that can benefit the next-generation students with the use of modern simulation technologies, particularly in STEM subjects.
“The profitability and longevity of global visual technologies in the education market make it worthy of receiving funds and investments from governments, and capital investors and venture capitalists. Angel investors are supporting firms with economic backing and significant investments in research and development for their products. This will contribute to the growth of the market during the forecast period,” says Jhansi.
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