E-Learning Virtual Reality Market: Global Industry Analysis and Forecast (2023-2029)

E-Learning Virtual Reality Market was valued at US$ 109.68 Million in 2022. The Global E-Learning Virtual Reality Market size is expected to grow at a CAGR of 56.25% through the forecast period.
E-Learning Virtual Reality Market Overview:
The global E-Learning Virtual Reality market report is a complete analysis of the industry, market, and key players. The global e-learning virtual reality market is based on component and application which is broken into sub-segments. Demand and supply-side by segments have been covered in the report on the market. The global E-Learning Virtual Reality report also provides trends by market segments, technology, and investment in a competitive landscape.

In the increasing market, virtual e-learning has enhanced learning experiences. In contrast, traditional e-learning gives the opportunities for the students to interact with the reading specimen with all five senses.

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E-Learning Virtual Reality Market Dynamics:
The upward technology in the global, the classrooms have been taken by virtual forms. Virtual classrooms are becoming the reality in this era. Growing collaboration between hardware vendors and educational content providers, technological developments, rising demand for remote education, and government initiatives are all contributing to the growth of the e-learning virtual reality market.

E-learning now supports smart devices such as iPads, tablets, MacBooks, and other intelligent gadgets, rather than bringing about heavy computers and projectors. The worldwide e-learning virtual reality market is expected to grow because of the high prevalence of such devices. Electronic learning is an education system that is multi-disciplinary that is used in various schools, institutions, and workforce training. The system provides improved learning programs, collaborative technologies, digital learning resources, and online learning sources. These factors make the market growth and enhanced learning.

In a global world of rapidly evolving technology, e-Learning is at the top of digital transformation and innovation. One latest technology called as Virtual Reality (VR) is no longer available for their and VR is the paper transformation of the technology. Thanks to smart devices, VR has become a need in our households and various industries, including education. We can now confidently say, "The future is today!" eLearning is an industry that has seen rapid growth and improvements in the past years, even before the COVID-19 pandemic. The factors affecting the growth of the global e-learning virtual reality are as follows.
Increasing Smart Devices to Strengthen Market
Nowadays e-learning is becoming more trending than traditional learning. The e-learning is getting smatter and smatter. instead of carrying heavy laptops and projectors, people get connected to smart devices like mobile phones, I pad, tablets, MacBooks, and other intelligent devices. However, changing regulations and policies may hinder the growth in the global e-learning virtual reality market during the forecast period. Nevertheless, ever-rising technological advancements are expected to provide grand growth to the global e-learning virtual reality market in the future.

3Practical Ways of Using VR Technology In eLearning

1.Training Simulations

Through VR technology, companies can provide their students and trainees with online training simulations by completely immersing them in a virtual environment. This technology is being widely used by training institutes all over the world, especially in the fields of aviation, electronics, medical, etc.

2. Gamification

Gamification is an exciting trend in the digital world and has been taken up by almost every industry, including marketing, IT, businesses, and also eLearning. Through VR, game elements can be seamlessly integrated into eLearning and make learning more interactive and fun. It will provide students with a platform where they can interact with various virtual elements.

With immersive gamification through VR, you can provide better learning and highly immersive real-world experiences to students. Industries using architecture, interior design, civil engineering, etc., can incorporate AR and VR technology game features to improve learning.

3. Customized Online Courses

VR and smart devices also allow eLearning platforms to customize online courses for students. It has also enabled institutes to move away from the traditional teaching methods and online courses to more advanced courses, more like a video game where students are placed in a virtual world and go through real-life experiences to test their decision-making abilities. Our traditional eLearning platforms are quite restricted, as they mostly offer theoretical knowledge, instead of practical, hands-on experiences.
E-Learning Virtual Reality Market: Key Trends
1.VR in Training and Education

Education is another very prominent proprietor of VR technology. Through VR technology modern education and especially digital education can gain a very significant boost in interactivity, concentration, and comprehension by putting people in educational virtual environments.

2. Entertaining Consumers with Virtual Reality

VR has been used for entertainment from the very start. However, this trend is booming, especially due to the COVID-19 pandemic. Since most people are stuck at home with nothing to do, a significant portion of them is looking at alternative ways to spend their time – and “remote reality” seems to be one of the most popular ways to do so.

3. Tourism and Travel

As most of us are stuck at home due to the coronavirus pandemic, people are waiting for a vacation or any travel in general. In light of this, the travel industry has quickly adopted new technologies during the pandemic. One of those is VR used for experiencing places before actually booking them.

4. Training for Trainers

Traditional trainers working in classrooms or delivering lectures aren’t always equipped for success in an online or virtual environment. Delivering training through a screen is a much different experience and it requires a specific skillset. Owing to the push for virtual training options, there has been exponential growth in the need for training that helps in-person instructors upskill to virtual environments.
E-Learning Virtual Reality Market Segment Analysis:
By Component, the head mount segment is expected to grow highest CAGR of xx% during forecast period. Depending upon the component, the e-learning virtual reality market is segmented into devices, head mount, projector, software, and services. Head-mounted devices (HMD) are expected to have the largest market share in the coming years. To achieve believability and realism, virtual reality implementations employ high-quality and high-speed 3-D graphics and audio coupling hardware, such as head-mounted displays and wired clothing. A special head-mounted display or VR headset is required to immerse oneself in an authentic virtual reality experience.

The fast adoption of these displays across several business verticals, such as aviation and defense, media and entertainment, and healthcare, are among the primary factors driving the market growth. Because wireless HMD does not require PC connections, the market for wireless HMD is predicted to grow at the fastest rate over the projection period. The increasing demand for wireless VR headsets due to their ease of use and low cost is the primary driving factor for their growth. Furthermore, technological improvements that result in a shift from wired to wireless HMDs are projected to open up the potential for the industry in the future years.
Future of Virtual Reality:
VR is swiftly becoming a household word, thanks to the recent boom of VR-compatible devices. There are already several VR applications in the market. Using so much potential, the prospect of training in virtual reality is appealing.

VR technology may be used very well in the medical and healthcare training industry to train in processes and procedures. The students are likely to be able to try out treatments without concern of harming real patients thanks to the virtual reality environment. Technicians and machine operators are a significant area where VR technology may transform training. Learners soon can operate machines in a simulated environment before putting them on actual systems, allowing them to become experts.

India's eLearning enterprises have recognized the technology's enormous potential and are utilizing it to its maximum capacity. More research is being done, and VR is expected to lead the e-Learning domain shortly.

Market segmentation of the e-learning virtual reality market is segmented by Type, Applications, as well as regions, and countries. With respect to the Application, segmentation is carried out under academic and corporate training. With respect to Type, segmentation is carried out under Devices, Software, and Services. And concerning the applications, segmentation VR Academic Research, Corporate Training, and School Education.
E-Learning Virtual Reality Market Regional Insights:
The North American region dominated the market with xx % share in 2022. The North American region is expected to witness significant growth at a CAGR of xx% through the forecast period 2029. The presence of key players, heavy investments in R&D activities, technical developments, and integration of pioneering technologies and the presence of significant players are projected to drive the market's growth in this region.

The market is expected to be further strengthened by the presence of Google and Facebook, as well as their plans to produce educational games based on VR technology, such as 360 Degree Educational Video Viewing and other training. Moreover, the rising need for improved education systems is expected to effectively contribute to the region's market growth.

Furthermore, the Latin American e-learning virtual reality market is expected to be driven by the launch of new software applications, such as learning management systems (LMSs), and the increasing popularity of portable and mobile devices.
Key Development:
Canada's Queens University and SimforHealth have partnered with HTC to open a VR training facility for medical students to help them get the experience of real-time operations in an immersive VR environment. HTC Vive offers stimulation of a wide range of clinical situations in a VR environment.

The objective of the report is to present a comprehensive analysis of the Global E-Learning Virtual Reality Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global E-Learning Virtual Reality Market dynamic, structure by analyzing the market segments and projecting the Global E-Learning Virtual Reality Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Global E-Learning Virtual Reality Market make the report investor’s guide.
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E-Learning Virtual Reality Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 109.68 Mn.


Forecast Period 2023 to 2029 CAGR:
56.25%
Market Size in 2029:
US $ 2494 Mn.


 Segments Covered:
by Component
Devices
Head Mount
Projector
Software
Services


by Application
Academic
Corporate Training



E-Learning Virtual Reality Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America
E-Learning Virtual Reality Market Key Players
1. Avantis Systems
2. eLearning Studios
3. Enlighten
4. Google
5. Immerse
6. LearnBrite
7. Lenovo
8. MOOC Solutions
9. Oculus VR
10. RapidValue Solutions
11. Sify Technologies
12. Skills2Learn
13. SQLearn
14. Tesseract Learning
15. ThingLink
16. VIVED
17. VR Education Holdings
18. zSpace
19. Other Key Players

Frequently Asked Questions:

1] What segments are covered in the Global E-Learning Virtual Reality Market report?
Ans. The segments covered in the Global E-Learning Virtual Reality Market report are based on Component and Application.

2] Which region is expected to hold the highest share in the Global E-Learning Virtual Reality Market?
Ans. North America region is expected to hold the highest share in the Global E-Learning Virtual Reality Market.

3] What is the market size of the Global E-Learning Virtual Reality Market by 2029?
Ans. The market size of the Global E-Learning Virtual Reality Market by 2029 is expected to reach US$ 2494 Mn.

4] What is the forecast period for the Global E-Learning Virtual Reality Market?
Ans. The forecast period for the Global E-Learning Virtual Reality Market is 2023-2029.

5] What was the market size of the Global E-Learning Virtual Reality Market in 2022?
Ans. The market size of the Global E-Learning Virtual Reality Market in 2022 was valued at US$ 109.68 Mn.