Published on : May 29, 2017
Albany, New York, May 29, 2017: The report discusses the key market opportunities, trends, catalysts, and deterrents of the market. The prominent market players have been assessed wherein their recent business strategies, market shares, and product portfolios have been revealed. The report also furnishes market figures, charts, and diagrams alongside market projections.
Virtual reality (VR) technology refers to the ‘near-reality’ 3D computer generated environment that can be explored and interacted with by an individual. The individual is engaged in the thus created world, which enables him or her to manipulate things or perform a series of actions. The technology primarily uses our senses collectively to create an illusion of reality via a plethora of devices such as special gloves and headsets. Virtual reality has vast potential to revolutionize a number of sectors such as entertainment, sport, the arts, architecture, and most importantly, medicine.
In the education sector, the VR technology addresses the unique needs of students. VR technology aids in the learning processes by offering a platform for students, eliminating the fear of being discriminated. The benefits of virtual content can be leveraged to offer an engaging learning experience to students, based on their individual grasp on the subject. With effective use of the VR technology, students can devote their spare time for understanding and learning different concepts thoroughly, making it a convenient tool for teachers to explain complex notions.
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By product, the global market for VR in education sector has been segmented into VR software and VR gear. Of these, the VR gear led the market in 2016 and is likely to retain its dominant position over the forecast period as well. The relatively lower cost of VR gear and development of easy manufacturing techniques are responsible for the growth of this segment.
By end user, the global market for VR technology in education sector has been segmented into K-12 and higher education. The higher education segment accounted for the largest share in 2016, and might dominate the global market for VR technology in education sector in the oncoming years as well.
By geography, the global market for VR technology in education sector has been segmented into Asia Pacific, Europe, North America, and the Rest of the World (RoW). North America is expected to surface as the dominant regional segment by the end of 2021. The rising awareness among people pertaining to the benefits of installing VR-enabled software in schools and colleges has been one of the primary growth drivers of the market. The U.S. is likely to represent a major share of the overall market. Several countries in Asia Pacific, including Malaysia, China, India, and Japan are slated for significant growth as well.
Discovery Communications, Oculus VR, Google, Alchemy VR, EON Reality, EPSON, ZEISS, Mattel, Sony, HTC, Cinoptics, Immersive VR Education, Samsung Electronics, Homido, FOVE, Unimersiv, Zebronics, and LG Electronics are some key companies operating in the global market for VR in education sector.
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