Global AR in Education Market Dynamics, Trends, Opportunities, Drivers, Challenges, Revenue and Investment Feasibility
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Augmented reality or virtual reality is facilitating the growth of computing power. This technology can integrate new and trending algorithms of Big Data, Artificial intelligence, and wearable devices, among others. Conglomeration of augmented reality with virtual reality is expected to drive the growth of next generation computing and work as an instinctive edge for Internet of Things (IoT). The adoption of AR in education is likely to gain momentum due to the inclusion of advanced forms of technology in the process of education. Rise in emphasis on collaborative and experimental learning is likely to drive the growth prospects of AR in the education market over the forecast period. Introduction of AR in education through various applications and interactive textbooks is likely to facilitate student oriented learning. Experimental learning is a crucial way to obtain new and innovative skills as it involves learning on the basis of conceptualization, observation, and testing situations. With the rise in trend of AR technology, there has been an impact on the physical environment resulting in improvement of learning experience for students. AR learning experience in educational content comprises audio, video and games, among others which have changed the perspective of education. AR in education helps in addressing queries through natural content and choose subjects as per need of students. The rise in trend of IoT technology is likely to impact the growth of AR in education, paving the way for more opportunity in the near future.
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The AR in education market is segmented by product type and end-users. On the basis of product type, the AR in education market is segregated into AR hardware and AR content. AR content held the dominant share of the AR in education market in 2016 and is likely to hold the major market share over the forecast period. AR content overlays 3D images and text over real time environment that is expected to transform the methods of teaching. The textbooks are effective as they contain interactive elements that help to address the problems of students. AR gaming and AR video games coupled with AR applications and interactive textbooks are primarily driven by rise in demand from faculty and students in institutions. By end-user, the AR in education market is segregated into higher education and K-12. Rise in government expenditure for education is likely to influence the growth of this segment in the coming years. Increase in the use of AR in healthcare, aerospace, and automotive is expected to drive the growth of this market.
Geographically, the AR in education market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America held majority share of the AR in education market in 2016 and is likely to retain its dominance over the forecast period. Wide implementation of AR technology in institutions is expected to drive the growth prospects of the market over the forecast period. Rise in deployment of AR in the educational system along with advancements in technology is likely to drive the growth of the AR in education market over the forecast period. Presence of numerous global vendors in this region is one of the key factors of growth for the AR in education market. Europe is likely to have an increasing market share due to the rise in the adoption of AR in the existing education market technology. Consumer awareness for AR in education systems along with the zeal to enhance the skills and knowledge of students is predicted to drive the growth of this market in this region.
The market for AR in education is highly fragmented due to the presence of established global players along with several new entrants in this market. Key players in the AR in education market are EON Reality, Magic Leap, DAQRI, GAMOOZ, QuiverVision, Google, Inc., Chromville, Meta Company, InGage, and Popar, among others.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
The main aim of the report is to:
- Enable key stakeholder’s in the market bet right on it
- Understand the opportunities and pitfalls awaiting them
- Assess the overall growth scope in the near term
- Strategize effectively with respect to production and distribution
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