Virtual Classroom Market size is set to generate significant proceeds in the years ahead, primarily driven by the ongoing technological disruptions in the educational space. One of the major catalysts accelerating the market numbers lately is the outbreak of coronavirus.
2020 statistics from a National Survey depicted that 90% of educators agreed that use of AR/VR technology is an effective way of delivering personalized and differentiated experiences for students. The rising use of AR and VR technologies in corporate learning and development is also likely to transform virtual classroom market outlook over 2021 to 2027.
Given the massive shift of educational centers to virtual classrooms, the risks of cyberattacks and Zoombombers are prolifically rising, enunciating the need for virtual classroom security solutions. According to an official report released by a public data resource in the US, K-12 Cybersecurity Resource Center, the year 2020 was marked as ‘record-breaking’ year for cyberattacks against public schools in the country. About 40% of K-12 cyber incidents included data breaches and leaks, while 12% were ransomware.
Based on the deployment mode, cloud-based virtual classroom market have been gaining much prominence worldwide. This can be attributed to the umpteen benefits offered by these including, secured data backup in real time, erasing the need for textbooks, customized learning tools, enhanced cost effectiveness, and support for a wide variety of learning styles.
On account of its burgeoning demand, various tech companies have been working towards introducing advancements in the business space. For instance, in March 2021, Microsoft launched a cloud-based mixed reality meeting room, Mesh, which could now be used in virtual classrooms to learn from holographic images.
A larger virtual classroom market share is expected to come from the Asia Pacific countries. This is because the continent houses about half of all internet users in the world, many of which are smartphone-first. Ever since COVID-19 cases jumped in the Asian economies, the demand for e-learning surged considerably. In fact, India is set to record phenomenal gains in the overall virtual classroom industry due to the elevating need for virtual classrooms in many states and even in some rural areas.
Virtual classroom in rural areas is said to bridge the gap between educators and students in the region with exceptional talent. Moreover, it is likely to make education more effective for students who lack basic rights to education without burdening the parents.
Competition in virtual classroom industry is projected to intensify given the product and service extensions, mergers and acquisition, and advancements in technology by prominent players such as Oracle Corporation, Google Inc., Microsoft, IBM, HTC, TutorRoom, Panasonic Corporation, SKYPREP, Hitachi, Dell Inc., WizIQ, and Samsung Electronics amongst others.
Recently, Google has announced upgrading its virtual classroom tools to enhance its existing made-for-learning products in an attempt to help students and educators navigate to seamless online schooling.
Besides, in December 2020, Samsung partnered with IIT Jodhpur to set up its AR-VR Innovation Lab on the campus under its ‘Digital Academy Initiative’. The lab would potentially train student on new technologies like virtual reality and augmented reality, helping them learn industry-relevant skills.
Ever since the novel COVID-19 pandemic hit various economies brutally, several business enterprises and universities and educational institutions were forced to shut down in an attempt to comply with the lockdown norms put forth by central and state bodies. This factor thus propelled the institutions and universities to commence distant learning, or e-learning, eventually driving the virtual classroom market to soar to new heights.
The above information has been provided for the following regions and countries: