In a recent report, Brand Essence Research claimed the virtual reality (VR) in education market, valued at USD 873.2 million in 2018, is expected to reach USD 10,941.5 million by 2025, rising at a CAGR of 43.5% over the forecast period.
This astronomical growth, according to the report, will largely be driven by the rising trend of online education as schools and students continue to battle the huge limitations placed on them by the ongoing COVID-19 pandemic.
According to the study, the best uses of virtual reality in the educational environment are in telerobotic, which involves managing robots from a distance.
By incorporating this tech into their daily routine, we are told that students will be able to interact more actively with one another in virtual classroom environments.
It was also claimed that, as well as improving the collaborative abilities of students, virtual reality technology also supports students with advanced-level learning and knowledge retention.
Learning with VR Robotics
Within these virtual classrooms, the report continues, children will learn how to program a robot to carry out tasks by proxy, and they’ll use virtual reality to experience the actions of the robot in first-person.
By wearing their VR headsets, students will also be able to move around and explore around classrooms while learning. During these immersive experiences, the report continues, students will also benefit from high-quality educational visualisations that drastically enhance the learning process on multiple levels.
Rather than simply acting as an unsatisfactory substitute for the real thing, much like the Zoom classrooms we’ve all seen of late, VR classroom will offer students and teachers something infinitely more valuable. With these tools, students will be able to learn in ways that were once considered unthinkable, transforming the education sector forever.
A Lucrative Investment for The Future
In the report, sources from The University of El Paso claim that over 6 million Americans are currently pursuing an online education. Add to this the growing adoption of concept of virtual classroom in various educational institutes and it’s clear to see the virtual reality in education market has a promising future.
Sources from UNESCO were also cited in the report claiming more than 5,000 of the 500,000 teachers in the US have had a chance to become aware with the technology and 360ed launched its augmented reality 3D learning apps, covering English, biology and chemistry in 2018.
Add to this another powerful stat claiming global spending on R&D for VR in education has reached a record high of almost USD 1.7 trillion and about 10 countries account for 80% of spending on R&D.
However, expensive software and requires huge resources in terms of software and hardware may hinder the market growth. In spite of that, rising technological advancements and growing awareness with innovative VR technology may generate new opportunities for the further growth of this market in the coming future.
For more insights on the state of the VR in Education marketplace, you can head over to Brand Essence Research and request a copy of the full report.
