Virtual Reality in Education Market to Grow at a CAGR of 18.2% over 2024 to 2032; Pushing Demand for Experiential Learning Platforms to Bolster Market Growth

The global virtual reality in education market size was valued at USD 14.55 billion in 2023. The market is projected to expand from USD 17.18 billion in 2024 to USD 65.55 billion by 2032, exhibiting a CAGR of 18.2% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Virtual Reality in Education Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By End User (Academic Institutions and Corporate Training), and Regional Forecast 2024 – 2032”.

Immersive and interactive learning via VR (Virtual Reality) presents digitally-rendered scenarios replicating real-world experiences, all with minimal cost and infrastructure demands, driving growth of the virtual reality in education market.

Amid the COVID-19 pandemic, the global market witnessed a surge in VR adoption in education as schools shifted to remote teaching. VR facilitated immersive learning experiences, ensuring students remained engaged from their homes. Institutions pursued VR solutions to emulate the interactive nature of traditional education, with virtual field trips and simulations offering hands-on learning opportunities in a secure setting.

Synergy between Generative AI and VR to Boost Product Demand

The synergy between generative AI and VR represents a paradigm shift in education, pushing the boundaries of traditional learning and unlocking boundless possibilities for transformative educational experiences.

Center of Technical Excellence and EON Reality Expand Their Partnership by Introducing Spatial AI-based Initiative

In April 2023, The Center of Technical Excellence and EON Reality expanding their collaboration, launching Malaysia's pioneering spatial AI-based initiative. This advancement aimed to enrich Sarawak's digital talent development pathways and training programs, employing EON Reality's AI-powered XR solution to enhance learning and upskilling efficiency for local students and workforce members.

Increasing Demand for Experiential Learning Platforms and Addressing Learning Challenges to Propel Market Growth

Growing recognition of Attention Deficit Disorders (ADD) and limitations of traditional classroom methods propel educators to adopt VR for immersive, hands-on learning experiences, catering to diverse learning needs. Moreover, VR facilitates experiential learning by enabling active participation in simulated experiences and providing opportunities for experimentation, exploration, and discovery, fostering critical thinking and creativity among students.

However, disparities in student syllabi across different regions restrict the development of VR-based content customized for specific academic courses, thereby impeding the virtual reality in education market growth.

Key Players Emphasis on Strategic Partnerships to Attract and Retain Customers

Prominent players in virtual reality education are extending their reach globally with specialized solutions for various industries. Leveraging strategic partnerships and acquisitions of local businesses, they strengthen their presence in different regions. Additionally, they introduce new products to attract and retain customers, while continuous investment in research and development fuels the expansion of the global virtual reality in education industry.

List of Key Players Mentioned in the Report:

• Google LLC (Alphabet, Inc.) (U.S.)


• EON Reality (U.S.)


• Schell Games (U.S.)


• Avantis Systems Ltd. (U.K.)


• zSpace, Inc. (U.S.)


• VRSim, Inc. (U.S.)


• Veative Group (U.K.)


• Mursion (U.S.)


• Immersion VR (U.K.)


• Unimersiv (U.S.)


• Alchemy Immersive (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-in-education-market-101696

Key Industry Development:

• November 2023- XRHealth, in collaboration with HTC VIVE and Nord-space APS, launched the first VR headset for mental health in space. The headset was sent to the ISS to help astronauts cope with stress and isolation during their missions.

Further Report Findings

• North America captures the largest virtual reality in education market share, driven by rising investments across various sectors. Additionally, companies prioritize expanding their presence in the region to broaden their customer base.


• Asia Pacific to witness a rapid growth with the presence of VR devices by the local companies in India and China.


• Europe is expected to experience steady growth, driven by European schools and universities experimenting with VR as an educational tool. Companies are innovating in virtual reality education, offering new interfaces for learning and exploration.


• In terms of end user, corporate training segment captures the major virtual reality in education market share. VR training offers immediate relevance to specific job skills, enhancing its appeal and effectiveness for corporate training initiatives.


• Based on component, content segment is anticipated to showcase the highest CAGR during the forecast period, fueled by the increasing uptake of VR. This allows students to immerse themselves in virtual environments, potentially improving learning outcomes.

Table of Segmentation