Augmented and Virtual Reality in Education Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to augmented and virtual reality in education market . Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Augmented and Virtual Reality in Education Market News

  • In February 2024, the National Board of Medical Examiners (NBME) acquired MedVR Education, an extended reality (XR) platform specializing in healthcare skill development. This acquisition aims to integrate MedVR's simulation-based learning technologies with NBME's expertise in medical assessments, fostering the creation of innovative tools that support medical learners throughout their education and training.
  • In March 2024, the English Premier League (EPL) announced a four-year partnership with Rezzil, a Manchester-based virtual reality software developer. This collaboration focuses on developing a VR game that allows users to step into the boots of their favorite Premier League players, recreating iconic goals and moments through immersive simulations. The partnership underscores the EPL's commitment to integrating cutting-edge technology to enhance fan engagement and player training experiences.
  • In December 2024, zSpace, Inc., a developer of AR and VR platforms for the education sector, filed for a $9.4 million initial public offering (IPO). The IPO consists of 1.87 million shares priced at $5 each, with plans to list on the Nasdaq Global Market under the symbol ZSPC. This move aims to bolster zSpace's financial position and support its growth initiatives within the educational technology market.
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Global Augmented and Virtual Reality in Education Market size was valued at USD 17.00 billion in 2023 and is poised to grow from USD 19.75 billion in 2024 to USD 65.65 billion by 2032, growing at a CAGR of 16.20% in the forecast period (2025-2032).

The competitive landscape of the global augmented and virtual reality in education industry is characterized by rapid technological innovation and strategic collaborations aimed at enhancing immersive learning experiences. Leading players like Microsoft, Meta, and Google are leveraging their strong technological foundations to expand their presence in education through smart hardware and software platforms. For instance, Microsoft’s strategy revolves around integrating its HoloLens with educational content to support hands-on learning in fields such as medicine, engineering, and biology. Meanwhile, startups like Labster are carving out a niche by offering virtual science lab simulations, partnering with academic institutions to make high-quality lab experiences more accessible and scalable. 'Microsoft Corporation', 'zSpace, Inc.', 'Meta Platforms, Inc.', 'Google LLC', 'Lenovo Group Ltd.', 'ClassVR (Avantis Systems)', 'Labster', 'VictoryXR', 'EON Reality', 'Veative Labs', 'Immersive VR Education', 'Curiscope'

AR/VR enables students to visualize and interact with complex subjects like biology, chemistry, history, and math in a simulated environment, making learning more engaging and effective. These tools foster experiential learning, which improves retention rates and student participation. For instance, students can explore ancient civilizations or the human anatomy in 3D, which creates a more stimulating classroom environment than traditional textbooks or videos.

Integration of Artificial Intelligence with AR/VR: AI is increasingly being used to personalize virtual learning experiences. For example, AI algorithms can analyze student performance in real-time and adapt the virtual content accordingly offering customized quizzes or hints. In 2024, several startups have launched AI-enhanced VR platforms that respond to voice commands, facial expressions, and learning pace to make education more adaptive and intelligent.

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Global Augmented and Virtual Reality in Education Market
Augmented and Virtual Reality in Education Market

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