LONDON--(BUSINESS WIRE)--Technavio has been monitoring the virtual reality market in the education sector and it is poised to grow by USD 6.34 billion during 2020-2024, progressing at a CAGR of over 59% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions -
- What was the value of the virtual reality market in the education sector in 2019?
- Technavio says that the value of the market was USD 0.68 billion in 2019 and it is projected to reach USD 7.03 billion by 2024.
- At what rate is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of over 59%, the market growth will accelerate in the forecast period.
- What is the key factor driving the market?
- The affordability of VR gear is one of the key factors driving the market growth.
- Who are the top players in the market?
- Alchemy VR Ltd., Alphabet Inc., Avantis Systems Ltd., EON Reality Inc., Facebook Inc., HTC Corp., Lenovo Group Ltd., Microsoft Corp., Sony Corp., and Virtalis Holdings Ltd. are some of the major market participants.
- Which region is expected to hold the highest market share?
- North America
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Alchemy VR Ltd., Alphabet Inc., Avantis Systems Ltd., EON Reality Inc., Facebook Inc., HTC Corp., Lenovo Group Ltd., Microsoft Corp., Sony Corp., and Virtalis Holdings Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The affordability of VR gear has been instrumental in driving the growth of the market.
Virtual Reality Market in Education Sector 2020-2024: Segmentation
Virtual Reality Market in Education Sector is segmented as below:
- VR Hardware
- VR Content
- Higher Education
- North America
- South America
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Virtual Reality Market in Education Sector 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our virtual reality market in education sector report covers the following areas:
- Virtual Reality Market Size in Education Sector
- Virtual Reality Market Trend in Education Sector
- Virtual Reality Market Analysis in Education Sector
This study identifies the easy availability of content creation platforms as one of the prime reasons driving the growth of the virtual reality market in the education sector during the next few years.
Virtual Reality Market in Education Sector 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the virtual reality market in the education sector, including some of the vendors such as Alchemy VR Ltd., Alphabet Inc., Avantis Systems Ltd., EON Reality Inc., Facebook Inc., HTC Corp., Lenovo Group Ltd., Microsoft Corp., Sony Corp., and Virtalis Holdings Ltd. Backed with competitive intelligence and benchmarking, our research reports on the virtual reality market in the education sector are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Virtual Reality Market in Education Sector 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist virtual reality market growth in the education sector during the next five years
- Estimation of the virtual reality market size in the education sector and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the virtual reality market in the education sector
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of virtual reality market vendors in the education sector
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- VR Hardware - Market size and forecast 2019-2024
- VR Content - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Higher education - Market size and forecast 2019-2024
- K-12 - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Alchemy VR Ltd.
- Alphabet Inc.
- Avantis Systems Ltd.
- EON Reality, Inc.
- Facebook Inc.
- HTC Corp.
- Lenovo Group Ltd.
- Microsoft Corp.
- Sony Corp.
- Virtalis Holdings Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.