GMI Research expects revenue for the global virtual classroom market to reach USD 9,515.2 million in 2025, growing at a CAGR of 17.4% through to 2025.
The key factors boosting the market growth are:
• Rising demand of personalised learning
• Growing use of connected devices in virtual classroom
• Growing adoption of augmented reality (AR), virtual reality (VR) and Internet of Things (IoT) in academic and corporate training
Virtual Classroom is gaining traction over traditional method because of features offered by virtual classroom such as flexibility, easy to access, enhance performance, efficiency, reduce cost and time saving.
The factors such as paradigm shift towards, AR, VR and IoT for corporate training and shift in education from conventional classroom to virtual classroom, increase in demand of personalized learning, increase usage of BYOD devices in schools and universities are driving the growth of global virtual classroom market. In addition, rising demand of connected devices and training solutions in enterprises are also propelling the market growth.
On-cloud segment captured the largest market share in 2018 and will continue to dominate the market share through 2025 as it provides easy accessibility, security and low cost.
Hardware segment is expected to dominate the market during the forecast period due to rising adoption of devices such as VR, interactive whiteboard in academic and corporates. Moreover, increasing demand for flexible learning & mobility and high installation of computing devices in virtual classroom sector will also surge the hardware segment growth during forecast period.
Academic segment is expected to witness strong growth due to the high adoption of BYOD in K-12 schools and higher education for enhancing learning experience of learners.
“Increasing adoption of AI in Virtual Classrooms and emergence of blended learning technology in virtual classroom is leading the market growth” —-GMI Research Outlook
North America held the largest market share in 2018 and is expected to dominate the market during forecast period due to high installation of virtual classroom in education sector on a large scale and rapid adoption of new technologies in corporate and academic in the region. Asia-Pacific is expected to witness highest growth over the forecast period, primarily due to upsurge in IT infrastructures and growing adoption of cutting-edge technologies in large number of school and universities in countries such as Japan, China, Republic of Korea and Singapore. In addition, growing popularity of home-based learning in the region is also expected to boost the demand of virtual classroom during the forecast period.
Key takeaways/Recent Development:
- In Nov 2018, Saba Software Inc. announced the acquisition of Lumesse, talent acquisition, talent management and learning experience technology company in Europe. With this acquisition, Lumesse provides a recruiting platform in Europe, Middle East and Africa (EMEA) and helps Saba to fast-track its broader international strategy. Also, Saba will use Lumesse multi-source content library, learning experience and partnership to make strong footprint in EMEA.
- In Nov 2019, Blackboard Inc. announced that they are expanding their partnership with united State Army, uses teaching and Edtech learning platform. Expanded partnership will benefits Blackboard investment made in their Edtech platform includes collaboration, assessment and cloud security including FedRAMP.
- In July 2018, The University of Phoenix signed a partnership with Blackboard Inc. to develop next-generation digital learning platform.
- In Apr 2019, WizIQ launched a virtual classroom and LMS software called WizIQ NextGen, a learning delivery solution which used to deliver online training, online classes and live classes in easier way by adding more features and latest technology such as theme customization, lean user interface, white labelling, integrated platform, Microsoft Azure and WebRTC powered platform and customized mobile app.
Global Virtual Classroom market share is divided by some of the key players including, Microsoft Corporation, Google LLC, Oracle Corporation, Cisco Systems, WizIQ Inc, Samsung Electronics, Saba Software Inc., Dell Technologies, Blackboard Inc., IBM Corporation and among others.
The global virtual classroom market has been segmented based on deployment type, component, end user, and key geographies. Based on the deployment type, global virtual classroom market has been segmented into on-cloud and on-premises. Based on component, the market has been segmented into solution, hardware and services. Based on end user, the market has been segmented into academic and corporate.
The research report on virtual classroom market provides in-depth analysis of the global virtual classroom market revenue based on deployment type, component, end user and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for virtual classroom market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
For more details, Please Visit: https://www.gmiresearch.com/report/virtual-classroom-market/
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