About Metaverse in Education
An online learning platform called Metaverse Learning offers a wide range of virtual learning options for businesses and educational organisations. The website has areas where users can practise developing particular talents in which they are exposed to situations relating to the skill they choose to practise. In the virtual environment known as Met averse, people can build and travel, interacting as avatars and other virtual characters and engaging in a variety of activities. Social relationships, communication, understanding of cultures, and the educational system as a whole could all be changed by the metaverse. Educational institutions are utilising the metaverse to build virtual campuses or classrooms that let students visit and engage with instructors and classmates in a variety of class settings based on their choices.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The market for metaverse in education is highly fragmented and the major key players and big giants such as Microsoft and Facebook are highly investing in the metaverse innovative platform for education and learning. The existing player in the market to expand their market share and profitability, these businesses are utilising strategic collaboration projects. Mid-size and smaller businesses are, however, expanding their market presence by gaining new contracts and by tapping into new markets as a result of technical improvements and product innovations. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Metaverse in Education market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Axon Park ( United States ), Immerse ( California ), VRAcademi ( United Kingdom), Gatherverse ( United States), Inevitable Media ( United Kingdom ), Metaverse learning ( United Kingdom), K12 ( United States ), Microsoft ( United States ), Stemuli ( United States ), Metaversity ( India), 21 K School ( India), Tommorows Education ( Germany), Luca and friend ( United States ), DevDen ( India) and Tomorrow’s Education ( Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Sophia Technologies Ltd. Metaverse Group, Skillful Craftsman Education Technology Ltd., Jiangsu Hibao Tech Software Co. Ltd. and Roblox.
Segmentation Overview
AMA Research has segmented the market of Global Metaverse in Education market by Type (Hardware and Software), Application (Learning, Skill Development, Educational Apps, Self-Regulation Skills, Cultural Understanding and Others) and Region.
On the basis of geography, the market of Metaverse in Education has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On October 28, 2021, AGM Group Holdings Inc. and Meten Holding Group Announce a Strategic Partnership. One of China's top multichannel English language training ("ELT") service providers, Meten Holding Group Ltd., formerly known as Meten EdtechX Education Group Ltd., offers English language and skills training to Chinese students and professionals., and On 17 May 2022, by merging with EdtechX Holdings Acquisition Corp. II, zSpace, Inc., a leading provider of augmented and virtual reality educational technology for K–12 and workforce development, will become public.
Market Drivers
- Rapid adoption of virtual technologies boost the market growth
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- Decreasing Price of VR headset drives the market growth
Opportunities
- Pandemic has created opportunities for the ED Tech Platform
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- Major players in the metaverse industry creating innovative platform will create tremendous opportunity for the market.
Restraints
- Lack of awareness and trust will hampers the market growth
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- High cost of advance metaverse technology will restrict the market growth
Challenges
- Concern regarding the privacy and security stymie the market growth
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- Lack of infrastructure in underdeveloped and developing countries
Key Target Audience
New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.