As per Fact.MR, a market research and competitive intelligence provider, the global AR in education market is anticipated to top US$ 85 Bn by 2031, progressing at an astonishing CAGR of 80% over the next ten years. Augmented reality is the latest breakthrough technology in the digital space. AR is set to revamp the world’s conventional learning models. It can bring about a positive change in the location and timing of classes and make learning more engaging.
Today’s learning process is becoming much more tuned to bring in the elements of interaction and creativity. By providing visual representations, AR helps students acquire, process, and remember information. Thereby, it helps them test out their knowledge in practice. Experimental learning is a crucial way to obtain new and innovative skills as it involves learning on the basis of conceptualization, observation, and testing situations.
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Key Segments Covered in AR in Education Industry Research
- Product
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- Use of AR Solutions in Education
- Use of AR Hardware in Education
- Use of AR Content Management in Education
- Use of AR Gaming in Education
- Use of AR Video Games in Education
- Application
- AR in K-12
- AR in Primary and Secondary Education
- AR in Higher education
Key Takeaways from Market Study
- Global AR in education market to top US$ 85 Bn by 2031.
- AR in K12 projected to reach around US$ 30 Bn by 2031.
- AR in higher education projected to record above 75% CAGR over next 10 years.
- Market in North America holds share of more than 40%.
- Market in South Korea expected to reach valuation of US$ 12 Bn by 2031.
- Market in Australia to record 50% CAGR over forecast period of 2021- 2031.
“Implementation of AR in education enhances skill development and instils significant advantages in a student’s overall growth. With rising adoption of AR technology, a pool of opportunities for educational institutions and businesses will certainly open,” according to a Fact.MR analyst
Market Competition
- In June 2018, Dell collaborated with Tata ClassEdge, a technology-based learning solutions provider, for the common objective of taking digital training to schools and equipping teachers with the requisite knowledge of implementing technologies in classrooms.
- In August 2020, Google Ventures invested around US$ 14.5 Mn in Blue Vision Labs, an AR start-up company based in the U.K.
Competitive Landscape
The market witnesses several strategic partnerships, alongside other strategic initiatives such as expansion, collaborations, mergers & acquisitions, and product & technology launches.
Top companies in the AR in education market make strategic investments in research & development activities and fostering their expansion plans.
- In 2019, zSpace announced planned for expansion of its augmented reality (AR) solutions for Career and Technical Education (CTE) coursework. The expansion will include applications for industrial robotics and advanced manufacturing, and will help prepare students for industry certifications and provide industry-related experience in the classroom through a hands-on learning experience.
