Technavio market research analysts forecast the global mixed reality market in the education sector to grow at a CAGR of more than 90% during the forecast period, according to their latest report.
The report further segments the global mixed reality market in the education sector by product (MR hardware and MR software), by end-user (higher education and K-12), and by geography (the Americas, APAC, and EMEA).
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global mixed reality market in the education sector:
- Increase in the number of mixed reality classrooms
- Increasing demand for experiential learning
- Increased affordability of mixed reality hardware
Increase in the number of mixed reality classrooms
The popularity of the concept of mixed reality labs in classrooms will drive the growth of this market in the education sector. Vendors are emphasizing on the inclusion of mixed reality labs in the market.
Increasing demand for experiential learning
The concept of MR is a mix between VR and AR technologies. It enables students to enter a virtual environment that is overlaid on the physical environment. The technology of mixed reality is very successful in museums and the construction sector, and this technology can easily be translated to schools and colleges. The technology provides a good medium for experiential learning. This system allows the students to easily interact with the objects created in the 3D space and work in collaboration with each other in complex scenarios. Different vendors in the market are focusing on providing MR hardware and software for educational purposes.
Increased affordability of mixed reality hardware
The companies in the market are focusing on the development of technologies and a better production scale to reduce the cost of MR accessories. The cost reduction of these devices will boost their usage in the global market. The recent technological innovations will enable the mixed reality experience at an affordable price. The vendors are partnering with educational institutions to use MR tools for teaching and training individuals in the field of construction, nursing, and engineering.
Technavio offers the full report for purchase, which includes an analysis of four key vendors: Design Intelligence, Microsoft, Pearson and zSpace.