Metaverse in Education Market by Component, End-User

Description

List of Tables

[183 Pages Report] The Metaverse in Education Market size was estimated at USD 5.64 billion in 2023 and expected to reach USD 7.68 billion in 2024, at a CAGR 38.35% to reach USD 54.78 billion by 2030.

Global Metaverse in Education Market

KEY MARKET STATISTICS
Base Year [2023]	USD 5.64 billion
Estimated Year [2024]	USD 7.68 billion
Forecast Year [2030]	USD 54.78 billion
CAGR (%)	38.35%

The metaverse in education leverages the capabilities of a virtual and augmented reality-based interconnected universe for educational purposes. This market encompasses the development and deployment of immersive learning experiences, online classrooms, collaborative platforms, 3D simulations, training modules, and interactive content to enhance traditional teaching methods both in formal and informal learning environments. The applications range from immersive storytelling for young learners to complex skills development for professionals across industries like healthcare, engineering, design, and even entertainment. Increasing interest in immersed learning environments with the rise in e-learning adoptions driving the growth of the market. Moreover, the rapid progress in AR/VR technologies has led to more affordable hardware options and sophisticated software platforms that can cater to diverse learning needs. Furthermore, the high cost associated with metaverse in education limits the adoption of metaverse in education. Collecting extensive data in virtual learning environments raises concerns about user privacy and security breaches. Rising deployment of 5G technology across the world and ongoing advancements in machine learning and artificial intelligence create lucrative opportunities for market growth.

Regional Insights

American countries, including the United States and Canada, are increasing investments in virtual reality and augmented reality technologies for educational purposes. Notable higher learning institutions in this region have been leveraging VR/AR technologies for an immersive learning experience. Moreover, technology companies including Google LLC and Meta Platforms, Inc. are investing heavily in these technologies, driving growth in this region. The European Union is at the forefront of adopting emerging technologies for education. The EU's funding initiative has funded several research projects related to immersive technologies like AR/VR for lifelong learning purposes. Additionally, countries including Germany and France are actively promoting digital skills development through national strategies such as Industrie 4.0. In Asia-Pacific's leading economies, governments are focusing on integrating advanced technology into their education systems. China, Japan, and India established partnerships with schools to deploy AR/VR technologies for teaching purposes.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Metaverse in Education Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Metaverse in Education Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Metaverse in Education Market, highlighting leading vendors and their innovative profiles. These include Axon Park, BrainCert, Inc., Cisco Systems, Inc., Dell Inc., Digital Samba, SL, Electa Communications Ltd., Hitachi, Ltd., Immerse Inc., International Business Machines Corporation, Lenovo Group Limited, Meta Platforms, Inc., Microsoft Corporation, Niantic, Inc., Oracle Corporation, ThirdEye Gen, Inc., Varjo Technologies Oy, Veative Group, and Vuzix.

Market Segmentation & Coverage

This research report categorizes the Metaverse in Education Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Hardware
  - AR Devices
  - MR Devices
  - VR Devices
- Services
- Software
End-User
- Corporate
- Education
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Metaverse in Education Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Metaverse in Education Market?

3. What are the technology trends and regulatory frameworks in the Metaverse in Education Market?

4. What is the market share of the leading vendors in the Metaverse in Education Market?

5. Which modes and strategic moves are suitable for entering the Metaverse in Education Market?

Product Code: MRR-CF6C60CF95CF

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Metaverse in Education Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rise in industrial training and deployment in the education sector
  - 5.1.1.2. Increasing interest in immersed learning environments with the rise in e-learning adoptions
  - 5.1.1.3. Extending adoption of Augmented Reality (AR) and Virtual Reality (VR)
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with metaverse in education
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of Machine Learning (ML) and Artificial intelligence (AI) in metaverse in education
  - 5.1.3.2. Rising deployment of 5G technology across the world
- 5.1.4. Challenges
  - 5.1.4.1. Concerns regarding mental health with excessive use
5.2. Market Segmentation Analysis
- 5.2.1. Component: Expanding role of softwares in metaverse education for virtual interaction
- 5.2.2. End-User: Increasing adoption of metaverse in education to facilitate interactive learning
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Metaverse in Education Market, by Component

6.1. Introduction
6.2. Hardware
- 6.3.1. AR Devices
- 6.3.2. MR Devices
- 6.3.3. VR Devices
6.3. Services
6.4. Software

7. Metaverse in Education Market, by End-User

7.1. Introduction
7.2. Corporate
7.3. Education

8. Americas Metaverse in Education Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Metaverse in Education Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Metaverse in Education Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. FPNV Positioning Matrix
11.2. Market Share Analysis, By Key Player
11.3. Competitive Scenario Analysis, By Key Player
- 11.3.1. Agreement, Collaboration, & Partnership
  - 11.3.1.1. Meta Partner 15 US Universities to Transform Education with Metaverse Technologies
  - 11.3.1.2. AICTE & Meta Team Up to Launch 'Creators of Metaverse' Programme for College Students
- 11.3.2. New Product Launch & Enhancement
  - 11.3.2.1. Genius Group Launches Genius Metaversity in Partnership with Vatom

12. Competitive Portfolio

12.1. Key Company Profiles
- 12.1.1. Axon Park
- 12.1.2. BrainCert, Inc.
- 12.1.3. Cisco Systems, Inc.
- 12.1.4. Dell Inc.
- 12.1.5. Digital Samba, SL
- 12.1.6. Electa Communications Ltd.
- 12.1.7. Hitachi, Ltd.
- 12.1.8. Immerse Inc.
- 12.1.9. International Business Machines Corporation
- 12.1.10. Lenovo Group Limited
- 12.1.11. Meta Platforms, Inc.
- 12.1.12. Microsoft Corporation
- 12.1.13. Niantic, Inc.
- 12.1.14. Oracle Corporation
- 12.1.15. ThirdEye Gen, Inc.
- 12.1.16. Varjo Technologies Oy
- 12.1.17. Veative Group
- 12.1.18. Vuzix
12.2. Key Product Portfolio

13. Appendix

13.1. Discussion Guide
13.2. License & Pricing