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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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Globe Telecom Builds on Long-Term Partnership with Vectra AI to Strengthen its Security Operations

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SINGAPORE, Nov. 27, 2024 /PRNewswire/ — Vectra AI, Inc., the leader in AI-driven XDR (extended detection and response) today announced the extension of its long-term partnership with Globe Telecom, the largest mobile network provider in the Philippines. This collaboration aims to bolster Globe Telecom’s cybersecurity operations across its network. Key improvements from this partnership have enabled Globe Telecom to reduce alert noise by 99% and significantly enhance its security posture, ensuring reliable services for over 80 million customers.

Leveraging Vectra AI’s solutions, Globe Telecom has cleared a fog of cyber threats across its extensive infrastructure within a year. The integration of AI-powered Attack Signal Intelligence™ provided detailed insights previously missed across its broader network, while the Network Detection and Response combined with CrowdStrike’s EDR offered complete visibility across both network and end-point activities.

After implementing Vectra AI’s solutions, Globe’s incident response time decreased to 3.5 hours, with a 99% reduction in noise and escalations.

Anton Bonifacio, Chief Information Security and Chief AI Officer at Globe Telecom, explains, “With Vectra in place, the light started to turn on. Its automation and filtering capabilities allowed us to focus on the most important threats, which made our team more efficient and effective in our response.”

With a clearer understanding of their network activity, Globe Telecom’s security team was able to maintain tighter control over their environment. Additionally, having a comprehensive view of east-west traffic and lateral movement allowed them to uncover hidden threats before any damage could occur.

Aylwin Lam, Regional Director for Vectra AI Asia, comments, “Ultimately, for security decision makers today, it’s about focusing on what’s urgent, by having the best view possible of the entire infrastructure and subsequent threats, assessed by severity and impact.”

As an extra layer of defence, Vectra’s MDR (Managed Detection and Response) service provided round-the-clock support, offering continuous alert management, threat hunting and expert analysis. With additional eyes on their network, Vectra MDR secured the frontline — enabling the Globe Telecom team to concentrate on high-priority alerts that demand immediate action.

“The MDR aspect was a key differentiator for us. Vectra’s MDR team and their threat-hunting expertise have been invaluable in helping us secure our environment,” Bonifacio said.

A recent Vectra AI report revealed that 73% of APAC security practitioners believe their organisations may have been compromised without their knowledge due to alert overload. Additionally, there is a growing disconnect between SOC practitioners and security vendors, with many (45%) expressing dissatisfaction with their current tools.

As for Globe Telecom, Bonifacio underscores the value of this collaboration, stating, “One thing that truly stands out about Vectra AI is the strong relationship we’ve built. They’ve always been a supportive partner, even during challenging times, and we really appreciate that.”

Lam concludes, “Vectra AI is proud to provide real-time visibility and MDR services to Globe Telecom, helping to eliminate threats and maintain reliable services for their 80 million customers.”

View original content:https://www.prnewswire.com/apac/news-releases/globe-telecom-builds-on-long-term-partnership-with-vectra-ai-to-strengthen-its-security-operations-302317113.html

SOURCE Vectra AI

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Panduit Corp. Expands Electrical Connectivity and Grounding Capabilities with New Manufacturing Facility in Monterrey, Mexico

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SINGAPORE, Nov. 27, 2024 /PRNewswire/ — Panduit Corp., a global leader in electrical and network infrastructure solutions, announces the strategic investment of a dedicated state-of-the-art manufacturing facility for its electrical connectivity and grounding capabilities in Monterrey, Mexico. The new 90,000 square-foot facility will further enhance the ability to deliver tailored electrical connectivity and grounding solutions to meet the growing demands of customers worldwide.

The new facility will focus on manufacturing a wide range of electrical connectivity products including wire termination-power connectors, terminals, and the advanced ReelSmart™ solution, as well as various grounding and bonding products. Additionally, Panduit will invest in new manufacturing equipment to expand capacity ̶ providing greater flexibility, quicker fulfillment, and streamlined processes. This strategic expansion aims to accelerate production and delivery timelines and provide customized solutions to address unique operational challenges.

“The strategic investment of a dedicated manufacturing facility will help us improve our lead times and availability for power and grounding products as well as give us the ability to more rapidly expand the portfolio offering for our customers,” said John Buck, Panduit Vice President, Industrial Electrical Infrastructure.

The Monterrey facility will play a key role in the mission to provide customers with exceptional electrical connectivity and grounding solutions that drive operational efficiency. Through its strategic location and advanced capabilities, Panduit aims to strengthen its global supply chain and better serve customers in various industries, from industrial manufacturing and renewable energy, to data centers and beyond.

About Panduit:

Since 1955, the Panduit culture of curiosity and passion for problem-solving have enabled more meaningful connections between companies’ business goals and their marketplace success. Panduit creates innovative electrical and network infrastructure solutions for enterprise-wide environments, from the data center to the telecom room, from the desktop to the plant floor. Headquartered in Tinley Park, IL, USA and operating in 112 global locations, Panduit has a proven reputation for quality and technology leadership, coupled with a robust partner ecosystem, to help support, sustain, and empower business growth in a connected world. For more information, visit www.panduit.com.

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Yantai Launches the International Zero-Carbon Island Cooperation Initiative to the World

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BAKU, Azerbaijan, Nov. 26, 2024 /PRNewswire/ — On the morning of November 13, the release conference of the International Zero-Carbon Island Cooperation Initiative, hosted by the Ministry of Ecology and Environment of China and the People’s Government of Shandong Province, and organized by the Foreign Affairs Office of Shandong Province, the Department of Ecology and Environment of Shandong Province, and the Yantai Municipal Government, was successfully held at the China Pavilion during the COP29 in Baku, the capital of Azerbaijan.

Together with representatives of 32 domestic and international island cities, international organizations, academic institutions, financial institutions, and enterprises, Yantai called for global island stakeholders to strengthen cooperation with each other in enhancing climate resilience, exploring zero-carbon pathways, protecting resources and ecosystems and engaging in interactive exchanges, meanwhile trying to establish the Organization of International Zero-Carbon Island Cooperation in order to help the sharing of information, technologies and experiences of all sides and to build synergies for islands to cope with climate change and strive for sustainable development.

On November 15, the Yantai Municipal Government, in collaboration with the Foreign Environmental Cooperation Center of the Ministry of Ecology and Environment of China, the National Center for Climate Change Strategy and International Cooperation, co-hosted the High-Level Forum on South-South Cooperation on Climate Change.

The forum featured a discussion on “Best Practices in Global Climate Governance through Zero-Carbon Island Cooperation,” during which Mayor of Yantai Zheng Deyan delivered a keynote speech titled “Establishing an International Zero-Carbon Island Cooperation Organization for Closer Connections Between Global Islands.” He introduced the organization’s background, framework, and focus areas, emphasizing Yantai’s commitment to uniting international partners to enhance communication and partnership between global islands for their sustainable development.

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SOURCE Yantai Municipal Government

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