LONDON–(BUSINESS WIRE)–Technavio has been monitoring the virtual reality market in education sector and it is poised to grow by USD 6.34 bn 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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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.
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Affordability of VR gear has been instrumental in driving the growth of the market.
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Virtual Reality Market in Education Sector 2020-2024: Segmentation
Virtual Reality Market in Education Sector is segmented as below:
- North America
- South America
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 Industry Analysis
This study identifies easy availability of content creation platform 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 growth in education sector during the next five years
- Estimation of the virtual reality market size in 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 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 education sector
Table of Contents:
- 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 focus 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.