Technology research company, Technavio, says that the global virtual reality market in the education vertical will grow by 44 billion Euros from 2024-2028, with EMEA and APAC expecting dramatic growth.
The market is estimated to grow at a CAGR of over 84.3% during the forecast period, with market growth driven by increasing affordability of VR products, with a trend towards increasing number of social VR spaces.
The increased popularity of social VR spaces is expected to fuel the growth of the global virtual reality market in education during the forecast period, with trends including the use of VR headsets and head-mounted displays (HMDs) in defence and academic institutions. Cloud and on-premises systems were also highlighted as an area for growth in corporate training in the K-12, e-learning, and higher education sectors.