E-Learning Virtual Reality Market – Overview
E-Learning Virtual Reality or e-Learning with VR Technology is not a new thing. VR technology transforming everything & everybody coming across entered into Education & Training & Development (T&D) sectors long ago. And then transforming these sectors by taking its stride, VR, completely changed the perception of learning & development.
Creating innovative & effective simulations, VR presented the learners with training solutions that gave them a powerful sense of presence in the virtual environment & convinced them that learning with VR is absolutely the most immersive experience ever. This has resultantly augmented the uptake of E-Learning Virtual Reality worldwide, escalating its market to extensive heights on the global platform.
Acknowledging the phenomenal accruals the E-Learning Virtual Reality Market is garnering and the growth prospects the market is demonstrating globally; Market Research Future (MRFR) recently published a meticulous study report. In its Analysis, MRFR asserts that the Global E-Learning Virtual Reality Market is projected to grow up to USD ~ 339 Million by 2023, registering a massive CAGR of 42 % during 2017 and 2023.
Augmented uptake of eLearning Virtual Reality systems worldwide, has encouraged huge investments across industries & corporate sectors for L&D and training purposes for both, hard and soft skills. This, in turn, has helped to increase the market growth. Other factors contributing to the growth of the e-learning virtual reality market include increasing urbanization, population, technological advancements & improving economy worldwide.
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Increasing demand for distance education coupled with the government initiatives, introducing smart education programs worldwide is providing impetus to the market growth to an extent. Collaborations between hardware vendors and educational content providers are contributing to the growth of the e-learning virtual reality market. Moreover, the market proliferation of handheld devices and increasing demand by corporates for employee training programs are propelling the market growth.
On the other hand, imposed stringent regulations & policies along with the data storage issues are expected to hinder the market growth slightly. Conversely, the huge demand for training & development programs, especially from corporate sectors are expected to boost the growth of eLearning Virtual Reality market during the forecast period (2017 – 2023)
Industry/Innovation/ Related News:
March 27, 2018 – Yardi Software (US) a global software provider company launched its eLearning Virtual Reality Training Content. With the new content, learners without having the specialized hardware can use immersive training on any web-connected device.
March 08, 2018 – Honeywell International Inc. (US) a leading multinational conglomerate company producing a variety of commercial and consumer products, from engineering services to aerospace systems announced its plans to train its industrial employees (factory workers) to help close the skills’ gap with AR/VR simulator based on Microsoft HoloLens.
The key players in the global e-learning virtual reality market include- Immersive Vr Education (Ireland), Oculus Vr (U.S.), Google Inc. (U.S.), Zspace, Inc. (U.S.), Curiscope (U.K.), Nearpod (U.S.), Eon Reality Inc (U.S.), Schell Games (U.S.) ,Gamar (U.S.) and Thing link (Finland) among others.
E-Learning Virtual Reality Market – Segmentation
The E-Learning Virtual Reality Market can be segmented into 4 key dynamics for the convenience of the report and enhanced understanding;
- By Components: Comprises Hardware (Computers, Mobiles, Consoles and others), Software (SDK Kits, Cloud Based Solutions), Services (Virtual Reality Training, Tailor Mode E-Learning, Games For E-Learning, Mobile Learning, Public Speaking VR Simulation, E-Learning Tools).
- By Technologies: Non-Immersive & Fully Immersive among others.
- By Applications: Academic & Corporate among others.
- By Regions: North America, Europe, APAC and Rest of the World.
E-Learning Virtual Reality Market – Regional Analysis
The North America market leads the Global E-Learning Virtual Reality Market with the largest market share, mainly due to the augmenting demand for cutting-edge technology solutions for training & development purposes across education as well as corporate sectors. The investments & increasing expenses transpiring in the field training coupled with the wide uptake of Virtual Reality.
While the rapidly surging Europe market for E-Learning VR is expected to register a substantial CAGR during the review period.
Whereas the E-Learning VR Market in the Asia-Pacific region is emerging as the fastest growing market globally. The regional market growth attributes to the rapidly growing markets in the APAC countries like India, China & Japan. Besides, the presence of a large number of vendors & product (hardware) manufacturers coupled with the increasing number of educational institutions in the region, provide impetus to the regional market growth.
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- Device manufacturers
- Network Operators
- Research firms
- Software Developers
- Commercial Banks
- Government Agencies
- End-user sectors
- Technology Investors
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