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)
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 – Competitive Analysis
The Market appears to be highly competitive and diversified with the presence of giant providers of technology, playing on the global level. These players are heavily investing in R&D, global expansion, advanced technologies and product Launch in order to gain the competitive edge in the market.
For the purpose of this study, Market Research Future has segmented the market of e-learning into component, technology, application and region.
- Sdk Kits
- Cloud Based Solutions
- Virtual Reality Training
- Tailor Mode E-Learning
- Games For E-Learning
- Mobile Learning
- Public Speaking Vr Simulation
- E-Learning Tools
- Head Mount
- Gesture Control
- North America
- Rest Of The World
E-Learning Virtual Reality Market – Regional Analysis
Regionally, North America accounted for the largest market share from countries such U.S. and Canada among others. The reason is attributed to growing demand for high-end technology solutions, increasing R&D happening in this region and increasing usage of virtual reality in the academic sector. However, Asia Pacific is expected to grow over the forecast period, 2017-2023. The reason is attributed to presence of large number of manufacturers and the increasing growth of educational institutions.
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.
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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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