Technavio has been monitoring the virtual reality market in 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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Technavio has announced its latest market research report titled Virtual Reality Market in Education Sector 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- Based on segmentation by product, which is the leading segment in the market?
- The VR hardware is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Easy availability of content creation platform is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 59%, the incremental growth of the market is anticipated to be USD 6.34 billion.
- 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.
- What are the key market drivers and challenges?
- Affordability of VR gear is one of the major factors driving the market. However, the lack of content restraints the market growth.
- How big is the North America market?
- The North America region will contribute 34% of market growth.
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. The affordability of VR gear will offer immense growth opportunities. To make 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.
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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. The virtual reality market in education sector report covers the following areas:
- Virtual Reality Market in Education Sector Size
- Virtual Reality Market in Education Sector Trends
- Virtual Reality Market in Education Sector Analysis
This study identifies easy availability of content creation platforms as one of the prime reasons driving the virtual reality market growth in education sector during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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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 in education sector growth during the next five years
- Estimation of the virtual reality market in education sector size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the virtual reality market in 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 in education sector vendors
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
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