AR in higher education to make up half of global sales
As per a market research and competitive intelligence provider, the global AR (augmented reality) in education market is anticipated to top $85 billion by 2031, progressing at an astonishing CAGR of 80% over the next ten years.
Augmented reality is the latest breakthrough technology in the digital space. AR is set to revamp the world’s conventional learning models. It can bring about a positive change in the location and timing of classes and make learning more engaging.
Today’s learning process is becoming much more tuned to bring in the elements of interaction and creativity. By providing visual representations, AR helps students acquire, process, and remember information. Thereby, it helps them test out their knowledge in practice. Experimental learning is a crucial way to obtain new and innovative skills as it involves learning on the basis of conceptualization, observation, and testing situations.
With the rise in the trend of AR technology, there has been an impact on the physical environment resulting in improvement of the learning experience for students. AR learning experience in educational content comprises audio, video and games, among others, which have changed the perspective of education.
Wide acceptance of augmented reality (AR) for corporate training & development, continuous innovation in AR technologies, and use of connected devices in AR in education are some of the factors driving AR in education market growth.
Key takeaways from market study
- Global AR in education market to top US$ 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 Senior Research Analyst