E-Learning Virtual Reality Market – Overview
E-Learning Virtual Reality or e-Learning with VR Technology is not a new thing. VR technology transforming everything & everybody coming across entered into Education & Training & Development (T&D) sectors long ago. And then transforming these sectors by taking its stride, VR, completely changed the perception of learning & development.
Creating innovative & effective simulations, VR presented the learners with training solutions that gave them a powerful sense of presence in the virtual environment & convinced them that learning with VR is absolutely the most immersive experience ever. This has resultantly augmented the uptake of E-Learning Virtual Reality worldwide, escalating its market to extensive heights on the global platform.
Acknowledging the phenomenal accruals the E-Learning Virtual Reality Market is garnering and the growth prospects the market is demonstrating globally; Market Research Future (MRFR) recently published a meticulous study report. In its Analysis, MRFR asserts that the Global E-Learning Virtual Reality Market is projected to grow up to USD ~ 339 Million by 2023, registering a massive CAGR of 42 % during 2017 and 2023.
Augmented uptake of eLearning Virtual Reality systems worldwide, has encouraged huge investments across industries & corporate sectors for L&D and training purposes for both, hard and soft skills. This, in turn, has helped to increase the market growth. Other factors contributing to the growth of the e-learning virtual reality market include increasing urbanization, population, technological advancements & improving economy worldwide.
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Increasing demand for distance education coupled with the government initiatives, introducing smart education programs worldwide is providing impetus to the market growth to an extent. Collaborations between hardware vendors and educational content providers are contributing to the growth of the e-learning virtual reality market. Moreover, the market proliferation of handheld devices and increasing demand by corporates for employee training programs are propelling the market growth.
On the other hand, imposed stringent regulations & policies along with the data storage issues are expected to hinder the market growth slightly. Conversely, the huge demand for training & development programs, especially from corporate sectors are expected to boost the growth of eLearning Virtual Reality market during the forecast period (2017 – 2023)
The segmentation of the market for e-learning virtual reality is carried out on the basis of component, technology, application and region. By component, the market is segmented into hardware, software and services. By Technology, the market is segmented into gesture control, head mount and projectors. By application, the market is segmented into academic and corporate. By region, the market for e-learning virtual reality is segmented into Europe, North America, Asia-Pacific and Rest of the World.
The key players in the global e-learning virtual reality market include- Immersive Vr Education (Ireland), Oculus Vr (U.S.), Google Inc. (U.S.), Zspace, Inc. (U.S.), Curiscope (U.K.), Nearpod (U.S.), Eon Reality Inc (U.S.), Schell Games (U.S.) ,Gamar (U.S.) and Thing link (Finland) among others.
Detailed Regional Analysis
For the purpose of regional analysis, the market is segmented into Europe, North America, Asia-Pacific and Rest of the World. Regionally, the North American regions responsible for the major market segment from countries such U.S. and Canada among others. The reason is accredited to the growing demand for high-end technology solutions, rising R&D in this region and the increasing use of virtual reality in the academic sector. However, the Asia Pacific region is anticipated to expand over the forecast period. The reason is accredited to the incidence of a huge number of manufacturers and the growing progress of educational institutions globally.
Jun 2018 Sangari Education has distributed Veative’s educational virtual reality (VR) solutions in South Africa. Veative offers education technology and learning simulations to schools and industries, by means of immersive technologies such as 3D, virtual reality, augmented reality and mixed reality.
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- Device manufacturers
- Network Operators
- Research firms
- Software Developers
- Commercial Banks
- Government Agencies
- End-user sectors
- Technology Investors
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