Immersive Technology in Education Sector Market Analysis

Immersive Technology in Education Sector Market

Immersive technology in education sector market size was valued at USD 5.30 Billion in 2022. The immersive technology in education sector market is projected to grow from USD 6.09 Billion in 2023 to USD 40.70 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.5% during the forecast period (2023 - 2032). Enhanced learning experience and personalized learning are the key market drivers enhancing the market growth.

Figure 1: Immersive Technology in Education Sector Market Size, 2023-2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Immersive Technology in Education Sector Market Trends

Enhanced learning experience is driving the market growth

Improved learning environments increase student engagement, which is one of the key elements influencing the use of immersive technology. It is frequently challenging to keep pupils interested in the learning process in typical classroom settings. Immersive technologies like Virtual Reality (VR) and Augmented Reality (AR) offer a solution to this problem. By creating engaging virtual environments, these technologies draw students' attention and engross them in the material. Instead of reading about ancient history, students can virtually visit historical sites, bringing history to life in the classroom or even at home. Increased involvement makes learning more enjoyable, which also enhances information retention and comprehension.

Immersive technology is being used since that's how today's pupils choose to learn. These digital natives usually favor interactive, multimedia-rich learning experiences because they were reared in a world that values technology. By introducing VR, AR, or Mixed Reality (MR) into the curriculum, instructors can make learning more relatable and entertaining for students. For example, when complex scientific concepts are presented in 3D via VR, students can interact and change the content in ways that aren't feasible with static textbooks.

Through the use of immersive technology, the challenges of remote and distance learning may be overcome. The COVID-19 pandemic accelerated the shift to online education, but it also made evident that traditional video conferencing and text-based resources sometimes lack the depth and engagement needed for effective learning. Immersive technologies bridge this gap by creating virtual classrooms and labs where students can participate actively and interact. For instance, virtual field trips allow students to take trips throughout the globe without being restricted by geography and ensuring academic continuity.

The addition of gamification elements to immersive learning situations significantly enhances the learning process. Gamification engages students and maintains their motivation by incorporating elements of game design such as points, rivalries, and prizes. When educational content is transformed into interactive games, students are not only more encouraged to participate, but are also more likely to recall the information acquired. For instance, a biology lecture could be changed into a virtual treasure hunt in which students look for different species in a virtual jungle. This approach transforms learning from a tedious task into an enjoyable adventure. Thus, driving the Immersive Technology in Education Sector market revenue.

Immersive Technology in Education Sector Market Segment Insights

Immersive Technology in Education Sector Component Insights

The Immersive Technology in Education Sector market segmentation, based on Component, includes Hardware (Head-Mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW)), Software/Platform, Services (Professional and Managed)). The hardware segment dominated the market in 2022. The main motivators are the ongoing developments in head-mounted displays (HMDs), the key piece of hardware enabling VR and MR experiences. Over time, these HMDs have dropped in price, gotten lighter, and became more pleasant to use, opening them up to a wider spectrum of educational institutions.

Immersive Technology in Education Sector Technology Insights

The Immersive Technology in Education Sector market segmentation, based on technology, includes Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR) and 360 Film. The virtual reality (VR) segment dominated the market in 2022. VR creates an immersive and interactive learning environment that captivates students' attention. It allows students to step into virtual worlds, making abstract concepts more tangible and easier to understand.

Immersive Technology in Education Sector Application Insights

The Immersive Technology in Education Sector market segmentation, based on application, includes training & learning, emergency services, product development and sales & marketing. The training & learning category generated the most income in 2022. The rise of remote work has created a need for effective remote training solutions. Immersive technology allows organizations to provide remote employees with immersive training experiences that closely mimic in-person instruction.

Figure 2: Immersive Technology in Education Sector Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Immersive Technology in Education Sector Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Immersive Technology in Education Sector Market dominated this market in 2022 (45.80%). California's Silicon Valley is a center for technological innovation on a scale. Innovative VR and AR devices are being made in this region by startups like Magic Leap and Oculus VR, which is now acquired by Facebook. These developments have a direct impact on schooling. For instance, the Institute for Creative Technologies at the University of Southern California employs virtual reality (VR) for military training and has developed VR-based treatment tools to help veterans with post-traumatic stress disorder (PTSD). Further, the U.S. Immersive Technology in Education Sector market held the largest market share, and the Canada Immersive Technology in Education Sector market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: IMMERSIVE TECHNOLOGY IN EDUCATION SECTOR MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Immersive Technology in Education Sector market accounts for the second-largest market share. Immersive technology is being used more and more in educational programs at renowned European universities. In order to increase student engagement and comprehension, the University of Cambridge in the United Kingdom provides a Virtual Learning Environment (VLE) that mixes conventional instruction with VR and AR experiences. Further, the German Immersive Technology in Education Sector market held the largest market share, and the UK Immersive Technology in Education Sector market was the fastest growing market in the European region.

The Asia-Pacific Immersive Technology in Education Sector Market is expected to grow at the fastest CAGR from 2023 to 2032. The need for education is quite great in nations like India that have dense populations. To overcome scalability issues, edtech companies use immersive technologies. For instance, the Indian EdTech portal Vedantu employs VR and AR to provide students all around the nation live, interactive tutoring sessions. Moreover, China’s Immersive Technology in Education Sector market held the largest market share, and the Indian Immersive Technology in Education Sector market was the fastest growing market in the Asia-Pacific region.

Immersive Technology in Education Sector Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Immersive Technology in Education Sector market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Immersive Technology in Education Sector industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Immersive Technology in Education Sector industry to benefit clients and increase the market sector. In recent years, the Immersive Technology in Education Sector industry has offered some of the most significant advantages to medicine. Major players in the Immersive Technology in Education Sector market, including Acer Inc., Atheer, Inc., AVEVA Group PLC, Barco NV, Blippar Ltd., Carl Zeiss AG, CM Labs Simulations Inc., EON Reality, Inc., FAAC Incorporated, Google, LLC, HCL Technologies Limited, Honeywell International, Inc., HTC Corporation, Immersive Media Company, Immersive Technologies Pty Limited, Lockheed Martin Corporation, Magic Leap, Inc., NCTech Limited, Oculus (Facebook Technologies, LLC.), Samsung Group, Sony Corporation, Unity Software Inc., Varjo Technologies Oy, VI-grade GmbH, Zeality Inc. and others, are attempting to increase market demand by investing in research and development operations.

Honeywell International Inc. is a business that deals with engineering and technology. In order to address issues in a variety of industries, including energy, security, safety, productivity, and urbanization, the company develops and produces technologies. Among Honeywell's offerings are specialty chemicals, process technologies, electrical and complex materials, productivity, sensing, safety and security technology, and replacement parts. It also provides management, technical, maintenance, and repair services. In the building, petrochemical, aerospace, and refining industries, Honeywell serves customers in North America, Europe, and other continents. It runs manufacturing and other enterprises all around the world. The corporate headquarters of Honeywell are located in Charlotte, North Carolina, in the US.

Among the smart handheld gadgets that HTC Corp (HTC) creates and makes are smartphones and tablets. The company's product line includes PDA phones, virtual reality gear and related accessories, as well as other IoT products. Additionally, the company offers a variety of accessories for sale, including true wireless earbuds, adaptive audio earphones, USB type-c connections, power banks, and dual port car chargers. It provides products through important carriers, local retailers, online stores, and its own eStores. For smart mobile devices, it provides marketing, maintenance, and after-sales services, media streaming and download, as well as examination and consultation services. The company conducts business throughout the Americas, Europe, and Asia-Pacific. HTC's headquarters are in Taipei's Taoyuan City.

Key Companies in the Immersive Technology in Education Sector market include

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  Acer Inc.

  
  


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  Atheer, Inc.

  
  


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  Barco NV

  
  


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  AVEVA Group PLC

  
  


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  Blippar Ltd.

  
  


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  Carl Zeiss AG

  
  


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  CM Labs Simulations Inc.

  
  


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  EON Reality, Inc.

  
  


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  FAAC Incorporated

  
  


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  Google, LLC

  
  


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  HCL Technologies Limited

  
  


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  Honeywell International, Inc.

  
  


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  HTC Corporation

  
  


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  Immersive Media Company

  
  


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  Immersive Technologies Pty Limited

  
  


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  Lockheed Martin Corporation

  
  


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  Magic Leap, Inc.

  
  


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  NCTech Limited

  
  


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  Oculus (Facebook Technologies, LLC.)

  
  


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  Samsung Group

  
  


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  Sony Corporation

  
  


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  Unity Software Inc.

  
  


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  Varjo Technologies Oy

  
  


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  VI-grade GmbH

  
  


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  Zeality Inc.

  
  

Immersive Technology in Education Sector Industry Developments

April 2023: To create its business consulting services, EON Reality Inc. collaborated with Holistic EHS. Holistic EHS is able to provide its consulting clients with new and improved services in a variety of XR fields thanks to EON Reality's AI-powered XR solutions. The improved procedural and immersive software that Holistic EHS and its clients may create thanks to the new spatial AI-based capabilities of the EON Reality suite.

April 2023: In order to improve Sarawak's digital talent development paths and training programs, the Center of Technical Excellence and EON Reality have announced an expanded relationship to introduce Malaysia's first spatial AI-based collaboration. CENTEXS seeks to improve the learning and upskilling processes for nearby students and members of the growing workforce with its AI-powered XR solution from EON Reality.

Immersive Technology in Education Sector Market Segmentation

Immersive Technology in Education Sector Component Outlook

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  Hardware

  
  
  
  
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    Head-Mounted Display (HMD)

    
    
  
  
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    Gesture Tracking Devices (GTD)

    
    
  
  
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    Projectors & Display Walls (PDW)

    
    
  
  
  
  


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  Software/Platform

  
  


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  Services

  
  
  
  
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    Professional

    
    
  
  
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    Managed

    
    
  
  
  
  

Immersive Technology in Education Sector Technology Outlook

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  Mixed Reality (MR)

  
  


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  Virtual Reality (VR)

  
  


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  Augmented Reality (AR)

  
  


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  360 Film

  
  

Immersive Technology in Education Sector Application Outlook

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  Training & Learning

  
  


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  Emergency Services

  
  


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  Product Development

  
  


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  Sales & Marketing

  
  

Immersive Technology in Education Sector Regional Outlook

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  North America

  
  

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  U.S.

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  




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  Middle East

  
  


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  Africa

  
  


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  Latin America