Issued June 16, 2023
Meta Platforms, Inc. (USA), Microsoft Corporation (USA), Adobe Inc. (USA), HP Inc. (Australia), Unity Software Inc. (USA), Samsung Electronics (Korea), Lenovo (China), Roblox Corporation (USA), Epic Games (USA), Baidu, Inc. (China).
Metaverse in Education Market by Component (Hardware (AR Devices, VR Devices, MR Devices, Interactive Displays and Projectors), Software, Professional Services), End User (Academic and Enterprise) and Region – Global Forecast to 2028
of Metaverse in the education market Its size is expected to grow from US$3.9 billion in 2023 to US$19.3 billion by 2028, at a compound annual growth rate (CAGR) of 37.7% during the forecast period. In the Metaverse, educators typically use avatars, virtual representations of users that students can use to communicate with each other. Additionally, teachers can use avatars to simulate classroom settings and interact with each other in these virtual learning environments.
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With the rise of the Metaverse, this technology is about to undergo an important development. In education, the Metaverse allows students to participate in remotely accessible virtual classes that simulate aspects of traditional classrooms. Educational institutions and technology-based companies are working to remove physical boundaries and make learning more immersive, engaging and communicative.
By hardware, the AR device segment captured the largest market share during the forecast period.
By hardware, the metaverse in the education market includes AR devices, VR devices, MR devices, interactive displays and projectors. The AR device sector is estimated to hold the highest market share on a hardware basis. With the help of this technology, users can view and interact with virtual items and information in physical settings. There are various AR devices such as smart glasses, headsets and mobile devices. Depending on the application, each type of gadget has distinct advantages and characteristics and can be used in different ways. AR devices can be used to design engaging and immersive learning experiences that help students understand complex ideas. For example, an AR app will allow students to explore and interact with her model within the metaverse by overlaying her 3D model on textbook photos. For the education market, AR devices such as AR head-mounted displays (HMDs) and AR heads-up displays can be used in the metaverse. AR HMD devices include smart glasses to help students explore and participate in virtual environments created with AR smart glasses. Across topics such as geography and history, students can benefit from digitally recreating real-world locations and historical events. An AR HUD lets you take hands-free notes and organize information more effectively.
On the basis of professional services, the strategy and business consulting segment is anticipated to account for the largest market share during the forecast period
The Metaverse in the education market is categorized by professional services into application development, systems integration, strategy, and business consulting. The strategy and business consulting segment is expected to account for the largest market size and share in the education market metaverse during the forecast period. Our consulting services focus on selecting a metaverse technology provider and platform that meets your institution’s goals and requirements. Consultants help clients create a metaverse strategy that aligns with their goals. Many consumers who use consulting services routinely request adjustments to their solutions and service offerings to address complex concerns. These services are focused on providing excellent customer service.
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The surrounding virtual environment can be easily modified to suit the lessons being taught, greatly expanding the learning possibilities. For example, students can work on her 3D simulation of the human body and virtual world simulations of historical events. Students can join online classes and collaborate with classmates from anywhere using the Metaverse for distance learning. Such factors are driving the growth of the market.
The key vendors in this market are based in North America and Asia Pacific. Meta Platforms, Inc. (USA), Microsoft Corporation (USA), Adobe Inc. (USA), HP Inc. (Australia), Unity Software Inc. (USA), Samsung Electronics (Korea), Lenovo (China), Roblox Corporation (US), Epic Games (US), and Baidu, Inc. (China) are among the few major players in the education market metaverse. These vendors can focus on forming new connections and partnerships. Key players are adopting various strategies such as new product launches, agreements, partnerships, mergers and acquisitions to consolidate their market dominance.
Unity Software Co., Ltd.
Unity Software is a platform that helps creators such as game developers, artists, architects, educators, automotive designers, and filmmakers turn their visions into reality. The Unity platform offers a wide range of software options for developing and managing real-time 2D and 3D content for various devices such as mobile phones, tablets, PCs, consoles, AR and VR headsets. With the introduction of products such as Unity VR, which provides tools for developing VR applications, and Unity MARS, which enables developers to create AR experiences that combine digital materials with the real world, Unity is expanding into virtual reality spaces and augmented reality. I entered the real space. Educational applications such as training simulations, virtual field trips, and interactive science experiments can leverage Unity software to create immersive and interactive experiences. Additionally, Unity Software can be thought of as a tool for creating educational environments like the Metaverse. Many Unity-developed tools and services are available for creating educational content, such as Unity Learn, which provides tutorials and learning resources for beginners, and Unity Asset Store, which offers a wide selection of pre-built assets and tools that you can use. can be used for Create educational content quickly and easily.
ClassVR is one of the leading technologies designed to increase learning engagement and knowledge retention in students of all ages. We offer virtual reality headsets for schools with intuitive controls for teachers, original user interfaces for students, gesture controls, and built-in educational resources. It offers a variety of VR/AR content, including explorable scenes. The platform is aimed at K-12 schools and offers a wide range of curricular resources across multiple subject areas such as science, history and geography. VR experiences are designed to be immersive and engaging, allowing students to directly and interactively explore complex concepts and topics. ClassVR also provides content creation tools, allowing teachers to create and customize her VR experience to fit her curriculum and learning objectives. Additionally, the platform includes management and tracking tools that allow teachers and administrators to monitor student progress and VR resource usage.
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