"Smart Strategies, Giving Speed to your Growth Trajectory"
The global virtual reality in education market size was valued at USD 3.42 billion in 2022 and is projected to grow from USD 4.40 billion in 2023 to USD 28.70 billion by 2030, exhibiting a CAGR of 30.7% during the forecast period.
Virtual Reality technology has gained wide recognition and acceptance due to the pandemic and rising demand for immersive experience. Recent technological advancements in this education sector gave rise to emerging VR businesses and the increasing adoption of learning experiences at leading schools, colleges, and universities.
Virtual reality in education has also gained considerable importance in the world of education. It provides an immersive experience to students and learners. Students also learn complex topics by entering a realistic virtual world where they can talk, make decisions, and learn while interacting with 3D simulations and objects. Such applications have led to an increased demand for virtual reality in education.
Furthermore, educational institutions are incorporating practical and hands-on teaching modules into their education systems, consisting of field trips, group activities, laboratory experiments, and technical projects. The introduction of virtual reality in education elevated learning and teaching practices by providing an interactive experience to engage students, and enhance their understanding of complex subjects. Immersive and interactive learning through virtual reality has been proven to be an effective tool for evolving and expanding knowledge, as it provides a digitally-crafted solution and context, which also reflects real-world experiences that are fundamentally inaccessible to learners with minimum costing and infrastructure.
Rapid Advancements in VR Platform during COVID-19 to Boost the Market
The COVID-19 pandemic had a significant impact on the global market. As schools closed and shifted to remote learning, there was a rapid increase in demand for VR as an alternative education tool. VR allowed students to engage in immersive learning experiences from their homes, simulating real-world environments and maintaining their motivation and engagement during the pandemic.
The pandemic and lockdowns created a surge in demand for VR-based educational solutions as institutions sought to replicate the interactive and experiential aspects of in-person learning, VR solutions and field trips became valuable tools for students to explore new concepts, visit historical sites, and engage in hands-on learning, through a safe place such as home.
However, limited access to VR content and high setup costs hindered the widespread implementation, particularly in underserved communities. For instance,
Request a Free sample to learn more about this report.
Innovations in VR-based Assessment Evaluation and Personalized Learning Experiences to Enhance the Demand for VR in Education
Innovations in VR-based assessment evaluation and personalized learning experiences are emerging, as a result of increased demand in the market. With the integration of advanced technologies such as artificial intelligence and machine learning, VR platforms are offering immersive and interactive assessment methods, enabling educators to evaluate students’ knowledge and skills in a more comprehensive and engaging manner.
Moreover, implementation of virtual reality in education also encourages active learning, critical thinking, and problem solving skills, empowering students to take ownership of their education and fostering a deeper understanding of the subject matter.
Thus, innovations in assessment evaluation and personalized learning experiences are expected to boost the market.
Increasing Demand for Experiential Learning Platforms and Access to Remote Locations across the Globe to Enhance VR Market in Educational Sector
The demand for experiential learning platforms has been steadily increasing in recent years, particularly in the education industry. It is primarily due to the growing recognition of Attention Deficit Disorders (ADD) and traditional classroom learning, which is hindering student’s learning growth in this modern world. As a result, educators are increasing the adoption of VR technology as a means to provide students with an immersive and hand-on learning experience.
Another key advantage of virtual technology is the ability to transport students to remote locations across the globe, providing them with opportunities to explore and learn about different cultures in a safe and efficient environment. For instance,
Such type of experiential learning has produced effective results in enhancing student engagement, learning outcomes, and student motivation.
Therefore, demand for such solutions are driven by the growing need for effective remote learning solutions, which gained recognition during the pandemic.
Limited Compatibility with Existing Media Content and Higher Setup Costs to Impede the Market Growth
The market in the education industry has experienced significant changes in recent years due to changes in many norms such as virtual meetings, and work from home, among others. Numerous educational institutions have a significant and dedicated amount of digital content that is being utilized in their teaching programs, which creates issues while transferring regular content into VR-based. Additionally, discrepancies in the student syllabus across regions, prevents the use of a common forum, resulting in less VR-based content being generated that is specific to student’s syllabus and academic course. Such factors limit educational institutions and may hamper the market growth of virtual reality in education.
Hardware Segment is Expected to Witness More Demand from Various Organizations
Hardware segment dominated the market in 2022 with the highest market share. Moreover, as the price of VR systems falls and more people become interested in this new technology, adoption in the education sector is expected to grow. Moreover, Content is expected to showcase a highest CAGR as the increasing adoption of VR helps students to access virtual environments where they can engage in immersive content, potentially enhancing learning.
To know how our report can help streamline your business, Speak to Analyst
Higher Education is Likely to Inflate the Demand for VR Applications in the Market
By application, higher education segment held major market share in 2022. Virtual reality offers seamless learning opportunities to the student. Student recruitment, fundraising, and immersive learning are the applications of VR in higher education.
Furthermore, vocational training segment is predicted to grow with the highest CAGR during the forecast period as this application can be used to simulate real-world work environments, allowing students to practice skills without the risk of injury or damage. This can be particularly beneficial for training in high-risk or expensive industries such as aviation, construction, and healthcare.
In terms of region, the market is divided into five key regions, North America, South America, Europe, the Middle East & Africa, and Asia Pacific. They are further segmented into countries.
The North America Virtual Reality in Education Market size was valued at USD 1.03 Billion in 2022 and is growing at a CAGR of 27.6% from 2023 to 2030. North America holds the largest virtual reality in education market share due to increasing adoption of investments across various sectors of applications in the region. Furthermore, players are focusing on expanding their business to enhance their customer base in the region. For instance,
Asia Pacific is expected to witness a rapid growth rate during the forecast period owing to availability of VR devices by local companies in China and India. Additionally, integration of 5G with VR is one of the reasons for market growth in the region. Thus, investments in VR and metaverse are increasing among the countries in the region are driving the demand for virtual reality in education.
Europe is expected to showcase a steady growth rate during the forecast period. The region’s growth is due to European schools and universities are experimenting with introducing VR as an educational tool and incorporating VR lectures into their curricula. Therefore, several companies are pushing the concept of virtual reality in education even further by offering a whole new interface for learning and exploration.
Similarly, South America shows significant growth opportunities for the metaverse in coming years owing to improving access to education in this region. Additionally, big companies including Meta are investing in the educational program to promote talent by entering into partnership with institutions in the region.
The Middle East & Africa (MEA) market is expected to witness growth in coming years. The countries lag behind developed economies in digital adoption. However, the increasing IT spending in the region is expected to transform the economy.
Focus on Business Expansion to Fuel Key Players’ Market Share
The top players of virtual reality in education are focused on expanding their geographical boundaries across the globe by introducing industry-specific solutions. These players are strategically collaborating and acquiring local players to gain strong grip in the region. Moreover, key players in the market are introducing products to attract and retain their customer base. Also, continuous investments toward research & development of product offerings is thriving the global virtual reality in education market growth. Thus, by adopting such corporate strategies players sustain their competitiveness in the market.
An Infographic Representation of Virtual Reality in Education Market
To get information on various segments, share your queries with us
The report provides a detailed analysis of the market and focuses on key asapects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.
CAGR of 30.7% from 2023 to 2030
Value (USD Billion)
The market is projected to reach USD 28.70 billion by 2030.
In 2022, the market was valued at USD 3.42 billion.
The market is projected to grow at a CAGR of 30.7% during the forecast period.
The hardware segment is expected to lead the market.
Increasing demand for experiential learning platforms and access to remote locations across the globe are the key factors driving market growth.
Google LLC, EON Reality, Unimersiv, Alchemy Immersive, VRSim, Inc., Schell Games, Immersion VR, Mursion, zSpace, Inc., and Avantis Systems Ltd. are the top players in the market.
North America is expected to hold the highest market share.
By application, the higher education segment is expected to grow with a remarkable CAGR during the forecast period.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry