The analysts forecast global virtual reality market in education sector to grow at a CAGR of 59.14% during the period 2018-2022. One trend in the market is increasing number of social VR spaces.
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In a virtual environment, the users are isolated with the real physical world, and they are subjected to a virtual environment.
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This might bring down the quality of learning as collaborative learning plays an effective role in effective and efficient learning. To overcome this challenge, many VR vendors are providing platforms that enable collaborative learning in the VR environment.
Major key players in the global virtual reality market in education sector: Alchemy VR, Avantis Education, EON Reality, Google, Oculus VR, and Virtalis.
According to the virtual reality market report, one driver in the market is increased affordability of VR gear. One of the most significant drivers in the VR market in the education sector is the increasing affordability of VR gear.
Initially, VR hardware products were extremely expensive to purchase, which was a big barrier to the expansion of the market. However, owing to the recent developments in technology and the economies of scale possessed by major companies, the cost of VR gear has reduced by a significant figure.
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Further, the virtual reality market report states that one challenge in the market is lack of content. Though there is massive availability of VR gear and VR hardware, the VR industry lacks the availability of VR content.
This is primarily due to the lack of VR developers in the market. With VR headsets now being sold at an increasingly attractive price, there is increased pressure on the content makers for immersive and diversified content, which will remain in the mainstay for mass consumption.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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