The global AR and VR in education market was valued at USD 2.9 billion in 2022 and is projected to reach USD 14.2 billion by 2028; it is expected to register a CAGR of 29.6% during the forecast period. Enhanced understanding through visualization and advancing education through ongoing innovation and expansion in AR & VR technology are attributed to the ever-increasing demand for AR and VR devices in education.
Sony Group Corporation (Japan), HTC Corporation (Taiwan), Meta (US), Google (US), Microsoft (US), Panasonic Holdings Corporation (Japan), Vuzix (US), Cornerstone OnDemand, Inc. (US), Lenovo (Hong Kong), Anthology Inc. (US), Dell Inc. (US), IBM (US), Cornerstone (US), Oracle (US), Edvance360 (US), Electa Communications Ltd (Canada), BrainCert (US), SkyPrep Inc (Canada), Impero Solutions Ltd. (UK), WizIQ (US), BigBlueButton Inc. (Canada), Digital Samba (Spain), TutorRoom (Taiwan), Wikitude (Austria), PTC (US) are some of the key players in the AR and VR in education market. These players have adopted growth strategies to retain their presence in the AR and VR in education market. Product launches and developments have been the most dominating strategy adopted by the key players from 2020 to 2023 to help them broaden their customer base.
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SONY GROUP CORPORATION
Sony Group Corporation is a multinational technology and media conglomerate engaged in the development, design, manufacture, offer, and sale of various kinds of electronic equipment, instruments, and devices for consumers and industries. The company operates through its manufacturing facilities, located primarily in Asia. In addition, Sony Group Corporations are engaged in various businesses related to financial services, including life and non-life insurance operations. Moreover, it is involved in network services and advertising agency businesses in Japan.
Sony Group Corporation classifies its business operations under the following reportable segments: Game & Network Services, Music, Pictures, Entertainment, Technology & Services, Imaging & Sensing Solutions, and Financial Services. The company offers AR and VR through its Game & Network Services, Entertainment, Technology & Services, and Imaging & Sensing Solutions segment.
HTC Corporation is a consumer electronics company specializing in the design, development, and manufacturing of smartphones, virtual reality (VR) devices, and other electronic devices. The company designs and manufactures personal computing devices in various form factors, with smartphones being the primary device for the company’s upstream suppliers who provide components, parts, and operating systems. The company’s downstream channels include telecom service providers, distributors, and retailers.
The company initially came up with HTC Vive, a headset VR device in the VR market. HTC developed the HTC Vive in collaboration with the Valve Corporation (US). HTC Vive received over 22 awards in the Consumer Electronics Show (CES) 2016, which includes the Best of CES. HTC also comes up with other products in the VR category.
The company operates in the Americas, Europe, and Asia. Communications Global Certification (Taiwan), HTC America (US), High Tech Computer Asia Pacific (Singapore), and HTC America Innovation are some of the subsidiaries of HTC.
Google is one of the global technology leaders, and its primary areas include advertising, search, operating systems and platforms, and enterprise and hardware products. It offers a diverse range of products and services that cater to various aspects of online activities and technology solutions.
Alphabet, Inc. is the parent organization of Google Inc. It is a media and high-tech company that provides solutions based on augmented reality (AR) and virtual reality (VR) technologies. Alphabet reports its revenue through three operating segments—Google Services, Google Cloud and Other Bets. The company is a conglomerate, and the largest part of revenue comes from Google. All non-Google businesses are collectively called Other Bets.
Google has a separate platform ‘ArCore’, which focuses on AR-based technologies. Google provides AR eyeglasses named Google Glass. The company is also integrating AR technology into its old products. For instance, the company offers solutions such as AR in Google Search, Live View Beta in Google Maps, and AR in the Pixel Camera. Google has developed Tango, an AR computing platform. It uses computer vision to enable mobile devices, such as smartphones and tablets, to detect their position relative to the world around them without using GPS or other external signals. The company has developed various AR/VR products, such as head-mounted devices, software development kits (SDKs), software solutions, and apps.
Meta (formerly Facebook) is a social metaverse company that builds technology to help people connect, find communities, and grow businesses. The company operates through two segments, namely, Family of Apps (FoA) and Reality Labs (RL). The FoA segment includes Facebook, Instagram, Messenger, WhatsApp, and other services. The RL segment includes augmented and virtual reality-related consumer hardware, software, and content. Meta has innovated several AR and VR products, including Oculus Quest 2, a standalone VR headset, and Portal, a smart display that uses AR to enhance video calls. Additionally, Meta Spark Studio, an AR creation platform, empowers users to build immersive AR experiences at scale. These developments highlight Meta’s commitment to advancing AR technology and enabling creators to develop engaging AR content. By leveraging its expertise and investing in AR development, Meta aims to shape the future of AR technology and provide users with transformative and interactive experiences.
Microsoft is a multinational technology company that develops, manufactures, licenses, supports, and sells computer software, consumer electronics, and online services. The company's best-known software products include the Windows operating system, the Office productivity suite, and the Xbox gaming consoles. Microsoft also offers a wide range of cloud computing services, including Azure, which is one of the leading cloud platforms in the world.
The company has a wide range of product portfolios and operates through three business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The More Personal Computing segment includes Windows, Surface, Xbox, and gaming-related services. Microsoft offers a diverse range of products, services, and brands. These include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, video games, training and certification services, personal computers (PCs), tablets, gaming and entertainment consoles, phones, and related accessories. Microsoft also provides cloud-based solutions, solution support, consulting services, and various well-known brands such as Office, Windows, Bing, Skype, Xbox, Surface, and Edge.
The company has also developed HoloLens, an augmented reality headset, and offers mixed reality solutions for businesses. The company’s HoloLens 2 headset is one of the most advanced AR headsets. HoloLens 2 can be used for a variety of applications, including training, education, and entertainment.
Augmented and Virtual Reality in Education Market by offering type (software, hardware, services), device type, deployment (on-premise, cloud), application, end user (academic institutions, corporates) and Region - Global Forecast to 2028
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