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The virtual classroom is an e-learning environment where users can learn, interact, communicate, view, and discuss presentations through numerous virtual classroom software, teleconferencing, and web-based access. Virtual classroom implementations are typically web-based that provides online learning mode which is very cost-efficient, flexible and convenient. The virtual classroom enables direct teacher-student interaction, instant feedback, and involves activities that increases motivation and active participation. Advancement in technology provides the ability to record lectures, create & share audio/video education material and online group discussions which enhances the virtual learning experience.
Key Market Driver -
Growing acceptance of augmented reality (AR) or virtual reality (VR) in corporate and academic training
Key Market Restraint -
High cost associated with AR and VR devices
The primary factor that is expected to drive the virtual classroom market is the growing acceptance of augmented reality (AR) or virtual reality (VR) in corporate and academic training. The adoption of virtual classroom solutions is increasing in the corporate and educational sector, owing to the numerous associated benefits, including personalized learning experience, maximizes learning potentials, installs secure collaboration, and facilitates students' success. The increasing availability of technologically advanced virtual classroom solutions featured with multiple tabs, interactive interface, and audio/video playbacks is fuelling virtual classroom market growth. Additionally, the implementation of artificial intelligence (AI) and machine learning technologies in the virtual classrooms are creating lucrative opportunities for the Virtual Classroom market.
However, the high cost associated with the augmented reality (AR) and virtual reality (VR) devices, along with the lack of awareness regarding the virtual classroom benefits are factors limiting the market growth of Virtual Classroom.
By component, the market is segmented into solutions, hardware and services. On the basis of the solution type, the market can be further divided into content management, device management, unified communications and collaboration (UCC), security, and analytics and data visualization. Based on hardware, the market is further sub-segmented into interactive whiteboards, virtual reality devices, mobile computing devices, security and video cameras, interactive displays and projectors, and others. Based on services, the market is further segmented into training and consulting, deployment and integration and support and maintenance. Based on deployment, the market is bifurcated into the cloud and on-premise. On the basis of end-user, the virtual classroom market is fragmented into academic institutions and corporates.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global virtual classroom market report include IBM Corporation, Microsoft, Oracle, Cisco System Inc., Saba Software, Panasonic Corporation, Hitachi, Ltd., Sony Corporation, Blackboard Inc., and SAMSUNG.
The global virtual classroom market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America followed by Europe, dominated the global virtual classroom market in 2018, owing to the increasing investments in AR and VR technology and the availability of technically advanced virtual classroom solutions. Furthermore, the growing inclination towards the adoption of virtual classroom solutions to meet the increasing need for the personalized learning experience is anticipated to fuel the demand for the virtual classroom in Asia-Pacific. Additionally, the increased application of virtual classroom solutions in the corporate and education sectors is driving the growth of the virtual classroom market in Asia-Pacific. Latin America and Middle East & Africa are projected to register a comparatively higher CAGR by the end of the forecast period.
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