The global e-learning virtual reality market is expected to grow at a CAGR of around 33.7% during the forecast period of 2022 to 2028. The global E-Learning Virtual Reality market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global E-Learning Virtual Reality report also provides trends by market segments, technology, and investment with a competitive landscape.
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Overview of E-Learning Virtual Reality:
Virtual Reality (VR) is the use of computer technology to create a three-dimensional interactive environment with which users can interact using a VR headset. By combining 3D graphics with real-world experiences, virtual reality has the potential to significantly improve eLearning and create interactive learning modules. With the rise of smart devices and VR-compatible software, this immersive technology is gaining traction.
Virtual reality-enhanced learning experiences are all cumulative. In contrast to traditional eLearning, it allows students to interact with the reading specimen using all five senses.
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Global E-Learning Virtual Reality Market Dynamics:
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 is now available on smart handheld 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 due to the high prevalence of such devices. Electronic learning is a multi-disciplinary student-centered education system that is used in various schools, tertiary institutions, and workforce training. The system provides improved learning programs, collaborative technologies, digital learning resources, and online learning sources. These factors boost the market growth and enhanced learning.
Furthermore, factors such as the high prevalence of mobile devices and the growing need by corporations for staff training is predicted to propel the e-learning virtual reality market forward. However, multiple restrictions and policies, as well as storage concerns, are limiting the overall market’s growth.
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3 Useful Ways to Implement VR Technology in E-Learning:
1. Simulations for Training:
Companies can provide online training simulations to their students and trainees by completely immersing them in a virtual environment using VR technology. This technology is widely used by training institutes around the world, particularly in the fields of aviation, electronics, and healthcare.
2. Use of gamification:
Gamification is a popular trend in the digital world, with practically every industry adopting it, including marketing, IT, companies, and eLearning. Virtual reality (VR) allows game aspects to be effortlessly integrated into eLearning, making learning more dynamic and engaging.
To increase learning, industries such as architecture, interior design, civil engineering, and others can use AR and VR technology gaming elements.
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3. Personalized Online Courses:
E-Learning platforms can also adapt online courses for students using VR and smart devices. It has also enabled institutes to move away from traditional teaching techniques and online courses and toward more sophisticated courses that are more equivalent to a video game in which students are immersed in a virtual world and exposed to real-life scenarios to evaluate their decision-making ability.
Depending upon the component, the e-learning virtual reality market is segmented into devices, headmount, 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 with 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. Technician 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.
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 are 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.
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, SVOR, 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 analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global E-Learning Virtual Reality Market dynamics, structure by analyzing the market segments and project the global E-Learning Virtual Reality market size. Clear representation of competitive analysis of key players By Component, price, financial position, product portfolio, growth strategies, and regional presence in the Global E-Learning Virtual Reality Market make the report investor’s guide.
Global E-Learning Virtual Reality Market Key Players
• Avantis Systems
• eLearning Studios
• Enlighten
• Google
• Immerse
• LearnBrite
• Lenovo
• MOOC Solutions
• Oculus VR
• RapidValue Solutions
• Sify Technologies
• Skills2Learn
• SQLearn
• Tesseract Learning
• ThingLink
• VIVED
• VR Education Holdings
• zSpace
• Other Key Players