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Virtual Reality Market in Education to Grow by USD 47.28 Billion from 2024-2028, Driven by Affordable VR Gear and AI-Driven Market Transformation – Technavio

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NEW YORK, Nov. 5, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global virtual reality market in education sector size is estimated to grow by USD 47.28 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 84.3% during the forecast period. Increased affordability of virtual reality (VR) gear is driving market growth, with a trend towards increasing number of social VR spaces. However, lack of content poses a challenge. Key market players include Acer Inc., Alchemy Ltd., Alphabet Inc., Avantis Systems Ltd., Eon Reality Inc., HP Inc., HTC Corp., Lenovo Group Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Unimersiv, Virtalis Holdings Ltd., and zSpace Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (VR hardware and VR content), End-user (Higher education and K-12), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Acer Inc., Alchemy Ltd., Alphabet Inc., Avantis Systems Ltd., Eon Reality Inc., HP Inc., HTC Corp., Lenovo Group Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Unimersiv, Virtalis Holdings Ltd., and zSpace Inc.

 

Key Market Trends Fueling Growth

In the education sector, Virtual Reality (VR) technology offers a unique learning experience by immersing users in a virtual environment. However, the isolation of users in VR can hinder collaborative learning, an essential component of effective education. To address this challenge, VR vendors are developing platforms that enable social interaction in virtual spaces. Microsoft and Facebook are major players in this market, with Microsoft’s AltspaceVR providing avatars and multiplayer sessions for students to socialize and interact. The platform also offers a front-row feature for attending events or being part of small groups. The increasing popularity of social VR spaces is expected to fuel the growth of the global virtual reality market in education during the forecast period. 

The Virtual Reality (VR) market in education is experiencing significant growth, with trends including the use of VR headsets and head-mounted displays in defense and academic institutions. Cloud and on-premises solutions are being adopted for residential and corporate training in the K-12, e-learning, and higher education sectors. Personalized learning experiences and virtual environments are replacing physical learning materials. VR technology is also being used for vocational training, 3D simulations, and generative AI in universities. XR technology, artificial intelligence, and machine learning are enhancing learning experiences for students with Attention Deficit Disorders. The market is expanding to include IT and telecommunication, retail and e-commerce, healthcare, and 5G technology sectors. Software companies are developing innovative solutions for VR in education, making it an exciting space to watch. 

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Market Challenges

The Virtual Reality (VR) market in the education sector faces challenges in content creation due to the scarcity of VR developers and the high cost of VR content production. Educators and teachers, who are the primary consumers of this content, lack the necessary technology expertise to create effective VR content. Additionally, the conversion of curriculum-based content into digital formats is a significant challenge for many institutions, especially in the Asia Pacific region, due to low technology literacy and budget constraints. These factors increase the pressure on content creators to produce and diverse VR content for mass consumption. Despite the increasing affordability of VR headsets, the high cost of VR content creation and the lack of technologically equipped educators pose significant barriers to the growth of the VR education market.The Virtual Reality (VR) market in education is expanding rapidly, offering innovative solutions for various sectors. Challenges include providing services like training, consulting, and managed services for K-12 learning, colleges, schools, enterprises, and corporations. VR technologies bring experiences for learners in the virtual world, enhancing practical learning through excursions, lab experiments, group activities, projects, and learning. Digital information and real-life experiences are merged, making learning more engaging and effective. VR headsets and web-based portals enable remote and online education with flexible schedules and individual accountability. Logistics, customer service, and personalized learning experiences are essential for successful implementation. VR also offers training simulators, augmented reality, and gamification elements to make learning more interactive and fun. The integration of IT, telecom, e-commerce, and the 5G network further enhances the potential of VR in education. However, the illusion of VR and entertainment aspects should be balanced with academic rigor to ensure effective learning.

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Segment Overview

This virtual reality market in education sector report extensively covers market segmentation by

Product 1.1 VR hardware1.2 VR contentEnd-user 2.1 Higher education2.2 K-12Geography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 VR hardware- The global virtual reality market in the education sector is experiencing significant growth, particularly in the VR hardware segment. This segment’s expansion is driven by the decreasing cost of VR hardware, making it more accessible to educational institutions. Initially, VR headsets were primarily used for content development and gaming. However, the increasing adoption of VR for commercial purposes has led vendors to introduce VR devices tailored for educational applications. The VR hardware segment offers a wide range of options for educators, catering to both budget and high-end requirements. Despite the market’s promising growth, challenges remain, including the complexities of developing VR hardware for the education sector on a global scale. These challenges create opportunities for small-scale regional VR hardware manufacturers to collaborate with educational institutions, leading to the development of feasible VR solutions. Overall, the VR hardware segment of the global virtual reality market in education is poised for continued growth, addressing the demand for affordable, high-quality learning experiences.

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Research Analysis

The Virtual Reality (VR) market in the education sector is experiencing rapid growth, with 3D simulations and XR technology at its core. These learning tools offer personalized experiences for students, making education more engaging and effective. Generative AI and machine learning algorithms are being integrated into VR software to cater to students with Attention Deficit Disorders, providing customized learning paths. Corporate training is also leveraging VR for more effective and interactive sessions. VR technology is available in various forms, including head-mounted displays, VR headsets, projectors, cloud, and on-premises solutions. The education sector, including K-12 learning, telecom, training institutions, universities, and colleges, is adopting VR for virtual learning environments. VR services, consulting, and managed services are also gaining traction in the market.

Market Research Overview

The Virtual Reality (VR) market in the education sector is revolutionizing the way learners acquire knowledge. With 3D simulations and generative AI, XR technology merges the digital and physical worlds, offering experiences for academic institutions and enterprises alike. VR technologies, including VR headsets and head-mounted displays, provide learners with practical learning opportunities, excursions, lab experiments, and group activities. VR technologies are not just limited to academic institutions but are also being adopted by K-12, higher education, IT and telecommunication, retail and e-commerce, healthcare, and various other industries for services training, consulting, managed services, and more. VR’s ability to offer personalized learning experiences, flexible schedules, and individual accountability makes it an attractive option for learners. VR technologies offer learners a chance to experience real-life situations in a safe and controlled environment, making it an effective tool for addressing Attention Deficit Disorders and other learning challenges. The integration of augmented reality, training simulators, and web-based portals further enhances the learning experience. The VR market in the education sector is expected to grow significantly with the advent of 5G technology, which will provide faster connectivity and smoother VR experiences. The use of VR technologies in remote and online education, as well as in various industries, is expected to increase, making it an essential tool for the future of education. VR technologies offer a range of benefits, including the ability to provide learners with illusion-based learning experiences, entertainment, and even applications in defense. The future of education lies in the integration of VR technologies, offering learners a flexible, personalized, and learning experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductVR HardwareVR ContentEnd-userHigher EducationK-12GeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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MMA SMARTIES Thailand 2024 – Celebrates Unparalleled Marketing Innovation and Excellence in Thailand

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BANGKOK, Nov. 23, 2024 /PRNewswire/ — The SMARTIES Thailand 2024 Awards brought together pioneers and the brightest minds of the advertising and marketing world, celebrating marketing innovation. Ultimately, 47 exceptional winners were honored, comprising 13 Gold, 15 Silver, 8 Bronze awards and 11 industry awards.

More than just a celebration, the SMARTIES Awards are a global movement that empowers brands, advertisers, agencies, publishers, and technology enablers. With over 50,000 entries globally, SMARTIES has extensive reach, encompassing 19 country awards, 4 regional awards, and one global awards program. This year, Thailand presented numerous impressive entries spanning diverse sectors, underscoring the country’s influence in strategic marketing and creative innovation.

SMARTIES Thailand 2024 honored the best in the industry with a remarkable lineup of winners. Brilliant & Million, Thailand was awarded Digital Agency of the Year, while Grab took home both Publisher of the Year and Brand of the Year. Friends & Mana Company Limited was named Independent Agency of the Year, and Spa-Hakuhodo secured Creative Agency of the Year. M&C Saatchi emerged as the Media Agency of the Year, and Babi Mild was recognized as the Most Resilient Brand of the Year. Publicis Groupe earned the title of Holding Agency Company of the Year, while the Juror’s Choice Award went to the impactful “Under My Skin” campaign. Mondelēz International claimed the honor of Advertiser of the Year, and Best in Show was awarded to the captivating “Oreo Pokemon Catch ‘Em All!” campaign.

Check Out the Winner List Here! 

A rigorous selection process, led by a dedicated jury panel featuring top minds in marketing in Thailand, identified the best campaigns. These campaigns strengthened engagement through advanced technology, and elevated marketing practices.

“SMARTIES continues to set new benchmarks in the industry,” said Rohit Dadwal, CEO of MMA Global APAC & Global Head of SMARTIES™ Worldwide. “This year’s winners have demonstrated unparalleled brilliance, proving that Thailand is a hub for exceptional marketing talent. SMARTIES is not just about winning awards; it’s about pushing boundaries and setting global standards. With the launch of our new SMARTIES Sonic logo this year, we are redefining how the SMARTIES brand resonates and engages with audiences around the world, marking a new era of recognition and innovation”.

Winning a SMARTIES award brings more than recognition. Winners gain a competitive edge, credibility, and an impact on prestigious rankings, such as the MMA SMARTIES Business Impact Index, RECMA, and the WARC Media 100.

About MMA Global: MMA Global is the leading global trade association for marketers, providing essential resources and expertise to empower marketers to navigate the complex world of Marketing. With a commitment to driving innovation and effectiveness, MMA Global plays a pivotal role in shaping the future of marketing.

SMARTIES: SMARTIES is the prestigious marketing awards program hosted by MMA Global, recognizing excellence in Marketing. The SMARTIES Awards celebrate the most innovative and impactful campaigns that push the boundaries of creativity and drive measurable business impact in today’s dynamic landscape.

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SOURCE MMA Global APAC

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Redefining the Standard of Care: Introducing the Aulisa® Monitor Camera for Advanced Patient Monitoring

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PALO ALTO, Calif., Nov. 22, 2024 /PRNewswire/ — Aulisa® Medical USA, Inc., a leader in FDA-cleared, wearable, wireless continuous vital sign monitoring technology, proudly announces the launch of the Aulisa® Monitor Camera, an innovative solution designed to revolutionize patient care in both hospital and home settings. Seamlessly integrating with the Aulisa® Vital Signs Monitoring System, this advanced camera offers caregivers and healthcare professionals enhanced monitoring capabilities and peace of mind.

Redefining the Standard of Care
Hospitals constantly balance delivering exceptional patient care with managing operational costs. The Aulisa® Monitor Camera redefines patient monitoring by providing advanced, centralized solutions that enhance clinical and operational excellence. Designed to optimize patient care, the Aulisa® Monitor Camera integrates with the Centralized Multiple Patient Monitoring (CMPM) System, enabling simultaneous, wireless monitoring of oxygen saturation (SpO2), pulse rate, and body temperature across multiple patients from a centralized nursing station. With a simple app, the Aulisa® Monitor Camera can be integrated into a CMPM. In addition to monitoring a patient’s vital signs, caregivers and family members (such as parents of an infant) can also view the patient’s image and hear their voice. This feature is especially important in specific situations, such as for parents of an infant in the NICU.

This transformative approach eliminates cumbersome wires, streamlines operations, and ensures timely interventions, ultimately improving patient outcomes, enhancing safety standards, and optimizing workflow efficiency while driving significant cost savings and financial performance for healthcare facilities. With a steadfast commitment to compassionate, data-driven care and innovative solutions, Aulisa® Medical is advancing patient health and redefining healthcare excellence, one patient at a time.

Advanced Features for Comprehensive Care
The Aulisa® Monitor Camera offers crystal-clear 2K resolution with night vision, ensuring high-quality visuals day and night. Its two-way audio and human tracking features enable real-time communication and automated movement monitoring, while effortless Wi-Fi integration allows for quick and simple setup via mobile or web devices. With dual functionality as a standalone home surveillance camera, the Aulisa® Monitor Camera delivers unmatched flexibility for various care scenarios.

Engineered for Hospital Excellence
Designed with hospitals and patients in mind, the Aulisa® Monitor Camera addresses the unique demands of modern healthcare settings. From NICUs to patient rooms, it offers caregivers the ability to remotely monitor patients with visual, audio, and motion tracking capabilities. This streamlines workflows, enhances safety, and allows providers to focus on delivering compassionate care while staying equipped with FDA-cleared technology.

Founder’s Vision
“Introducing the Aulisa® Monitor Camera is a natural extension of our mission to enhance patient care and empower healthcare professionals,” said Augustine (Augie) Lien, founder and CEO of Aulisa Medical USA, Inc. “We strive to provide innovative solutions that bring peace of mind to caregivers and families alike. By delivering FDA-cleared technology with seamless functionality, we’re making it easier to ensure safety, connectivity, and exceptional care in every setting.”

Why Choose Aulisa®?
The Aulisa® Monitor Camera enhances efficiency by enabling remote monitoring, reducing physical check-ins, and providing reliable, FDA-cleared technology trusted by healthcare professionals worldwide. It is now available for purchase by healthcare facilities, caregivers, and families.

To learn more about the Aulisa Monitor Camera, the Guardian Angel® CMPM System and other Aulisa Medical products, visit:

www.aulisa.com/products/aulisa-monitor-camerawww.aulisa.com/products/cmpmwww.aulisa.com/collections/guardian-angel-remote-gateway-systems

About Aulisa Medical
Based in Silicon Valley, Aulisa® Medical is a leading medical technology company founded by serial medical technologies entrepreneur, Augustine (Augie) Lien. The company specializes in developing wireless, wearable monitoring systems that provide continuous, cloud-based vital sign data in both clinical and home environments. Through the development of new healthcare innovations, Aulisa® continues to grow the application of digital health technologies that empower both consumers and healthcare providers, incorporating Artificial Intelligence (AI) technologies that can detect adverse events and potentially save lives.

Media Contact:
Kyle Thompson, Vice President of Sales & Marketing
Email: kyle.thompson@aulisa.com
Direct: (650) 387-0001
www.aulisa.com

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SOURCE Aulisa Medical USA, Inc.

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Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

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SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving IndiaSingapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of IndiaSingapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

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Logo: https://mma.prnewswire.com/media/2565373/Nucleus_Software_Logo.jpg

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