The global metaverse in education market size is expected to reach USD 41.62 billion by 2030 and is anticipated to grow at a CAGR of 38.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market drivers include the growing popularity of experiential learning, the easy availability and adoption of Internet services, and the rising demand for interactive learning. The metaverse serves as a medium for various customers such as students to engage in engaging virtual presentations and real time learning experiences, to make them explore historical events, and to conduct scientific experiments in realistic environments. Moreover, these platforms can create virtual space, serving opportunities to connect with people located anywhere in the world and enhance their interactions, and problem-solving abilities among children. This further leads to a collaborative learning environment and can be especially beneficial for geographically dispersed students.
Educational organizations are facing several problems in the act of providing superior educational settings and tech-driven education to students. Metaverse provides real time based technology to experience excellent learning experiences with the help of virtual presentations, thereby raising interactions among students and offering knowledge most interestingly. Various institutions are investing heavily in incorporating metaverse into their in-person and online courses to reduce cognitive burden.
The report “Metaverse in Education Market Size, Share & Trends Analysis Report By Component, By Application (Skill Development, Educational Apps), By End Use (Academic, Corporate), By Region, And Segment Forecasts, 2024 – 2030” is available now to Grand View Research customers and can also be purchased directly
Metaverse in Education Market Report Highlights:
· The hardware segment led the market and accounted for over 47.0% share of the global revenue in 2023. Hardware manufacturers are constantly innovating to create VR headsets, AR glasses, and other devices that offer a more immersive and user-friendly experience
· Based on application, the educational apps segment is predicted to grow at a significant CAGr from 2024 to 2030. The easy accessibility of educational apps on devices such as tablets or smartphones makes them a more affordable entry point for schools and individual learners thereby increasing their demand
· Based on end use, the academic segment accounted for the largest revenue share in 2023 owing to the more engaging and interactive learning environment offered by the metaverse, motivates students to participate actively
· North America dominated with a revenue share of over 35.0% in 2023. North America has a well-established EdTech industry with a history of innovation and investment in new learning technologies.
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Metaverse in Education Market Segmentation:
Grand View Research has segmented the global metaverse in education market based on the component, application, end use, and region:
· Metaverse in Education Component Outlook (Revenue, USD Billion, 2017-2030)
§ AR Devices
§ VR Devices
§ MR Devices
§ Interactive Displays and Projectors
o Software
§ Extended Reality Software
§ Gaming Engines
§ Metaverse Platforms
§ 3D Mapping, Modelling, and Reconstruction
o Professional Services
§ Application Development and System Integration
§ Strategy & Business Consulting
· Metaverse in Education Application Outlook (Revenue, USD Billion, 2017-2030)
o Learning
o Skill Development
o Educational Apps
o Self-Regulation Skills
o Cultural Understanding
o Others
· Metaverse in Education End Use Outlook (Revenue, USD Billion, 2017-2030)
o Academic
§ K-12
§ Higher Education
o Corporate
· Metaverse in Education Regional Outlook (Revenue, USD Billion, 2017-2030)
o North America
§ U.S.
§ Canada
§ Mexico
o Europe
§ UK
§ Germany
§ France
o Asia Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o Latin America
§ Brazil
o MEA
§ UAE
§ South Africa
§ KSA
List of Key Players in the Metaverse in Education:
· Baidu Inc.
· Epic Games
· HP Inc.
· Lenovo
· Meta
· Microsoft Corporation
· Roblox Corporation
· Samsung Electronics
· Unity Software Inc.
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com
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