The augmented and virtual reality in education market is expected to grow from USD 9.3 billion in 2018 to USD 19.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 16.2%, due to the globally ongoing digital education initiatives and smart education adoption.
The major players in the augmented and virtual reality in education market include Sony (Japan), Samsung Electronics (South Korea), HTC (Taiwan), Google (US), Microsoft (US), Panasonic (Japan), Hitachi (Japan), Barco (Belgium), LG Electronics (South Korea), Veative Labs (Singapore), Cisco (US), Blackboard (US), Dell (US), IBM (US), Saba Software (US), Oracle (US), Edvance360 (US), Electa Communications (US), BrainCert (US), SKYPREP (Canada), Impero Software (UK), WizIQ (India), BigBlueButton (US), Digital Samba (Spain), and TutorRoom (Taipei). These players have adopted various growth strategies, including new product launches, partnerships, agreements, mergers and acquisitions, and business expansions. Product launches and acquisitions were the two major strategies adopted by these players to achieve a strong foothold in the augmented and virtual reality in education market.
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Google (US) is one of the prominent players in the augmented and virtual reality in education market. The company is investing in platforms, such as Android mobile operating system, Chrome browser, Chrome Operating System (OS), and Daydream virtual reality platform and hardware devices, including Google Cardboard and Chromebooks, which are useful components of an augmented and virtual reality in education. It has plans to invest in new businesses, products, services and technologies, systems, facilities, infrastructures, and acquisitions. For instance, in 2015, Google acquired Owlchemy Lab’s VR game studio. The company is investing significant resources in Virtual Reality (VR), as it looks to make its Android smartphone OS platform for VR through its Daydream initiative.
Microsoft (US) is another innovative company in the augmented and virtual reality in education market. The company develops and supports software, services, devices, and solutions, which deliver value to customers and assist people and businesses in knowing their potential. It offers a broad product portfolio, which includes OS, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. It designs, manufactures, and sells devices, such as PCs, tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. It offers services that include cloud-based solutions to provide customers with software, services, platforms, content, and solution support and consulting. In November 2017, Microsoft expanded the availability of HoloLens to 29 new European countries. With this expansion, HoloLens would be available in 39 countries and strengthen its footprint in Europe. In May 2017, Microsoft developed its VR motion controllers in collaboration with Acer. These motion controllers are designed to work with the HoloLens headset.
Augmented and Virtual Reality in Education Market by Solution (Content Management, Device Management, UCC, and Security), Hardware (Mobile Computing Devices and VR Devices), Service, Deployment Mode, User Type, and Region – Global Forecast to 2023
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