Virtual Classroom Market

Virtual Classroom Market was estimated around USD 13.1 billion in 2021, and is projected to reach USD 40.9 billion by 2029, growing at a CAGR of 15.3% over the period (2022-2029) attributed to growing adoption of smart education in corporate set-ups.

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Key Factors

Factors driving growth of Virtual Classroom Market includes Government initiatives promoting E-Learning, growing demand for personalized learning experience, emerging trend of Bring Your Own Device (BYOD) in the education sector, growing adoption of teleconferencing systems, and improvements in the living standards. For instance, the PM eVIDYA programme launched by the Government of India in May 2020, aims to make e-learning more accessible to students and teachers and promote digital education in India, this programme is estimated to benefit 25 crore school students, which will accelerate the market growth in the coming years. Increasing acceptance of Augmented reality (AR), Virtual reality (VR) and Internet of Things (IoT) in corporate training & development, rising internet penetration rates, innovations in the virtual classrooms and rapid urbanization, are some of the additional factors supplementing the market growth.

For instance, the number of internet users worldwide have increased from 413 million in 2000 to more than 3.4 billion in 2016, which will accelerate the market growth in the approaching years. In addition, the increasing investments by major companies on research and development, strategic partnerships, and collaborations between enterprises, rise in the number of mobile learning applications and growing popularity of connected devices, are further pushing the Virtual Classroom Market size. Moreover, virtual classrooms are cost-effective, enables direct student-teacher interaction, provides instant feedback, increases motivation and active participation, which are expected to generate tremendous opportunities in the market. However, growth of Virtual Classroom Market is hindered due to inadequate infrastructure and lack of industry standards.

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Deployment Mode: Segment Analysis

Based on Deployment Mode, Cloud Software segment is predicted to dominate the market during the forecast period. Cloud software enhances security, easily accessible, provides customization and automatic upgradation of content, highly scalable and requires less storage space, are some of the features pushing the segment’s growth. Cloud based solutions are increasingly used for training and development in corporate and education sectors because it incurs low cost as compared to on premises solutions, which is further pushing the segment’s growth.

Component: Segment Analysis

Based on Component, Hardware segment is projected to expand at a significant CAGR over the forecast period attributed to introduction of technological advanced VR devices and interactive whiteboards in virtual classroom. Moreover, high penetration of computing devices in K-12 institution and emerging trend of Bring Your Own Device (BYOD) in education sector, are some of the factors propelling growth of the segment.

End User: Segment Analysis

Based on End User, the Academic Institute segment is projected to grow at a remarkable CAGR during the forecast period. Institutions are deploying virtual classroom to provide education in remote location as virtual classroom provides peer to peer learning, along with Government initiatives promoting digital education, are some of the factors pushing the segment’s growth.

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Regional Analysis

Based on Region, North America held the highest market share due to increasing adoption of virtual classroom in educational sector, presence of the leading players such as Google, Microsoft and Cisco, rise in the number start-ups, growing focus of companies on providing gamified solutions. In addition, technological innovations in virtual classrooms, increasing population growth rates and high per capita incomes, are further propelling growth of the segment.

On contrary, Europe is anticipated to expand at a remarkable CAGR over the forecast period. Increasing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), growing popularity of mobile learning applications and improved living standards of consumers, are some of the factors pushing the segment’s growth.

On the other hand, Asia-Pacific is anticipated to grow at the fastest CAGR over the upcoming years, due to Government initiative to provide education in remote and less developed areas, rapid digitalization, rise in the number of internet users across India, China and Singapore, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Segments covered in the Report:

The global virtual classroom market has been segmented based on deployment type, component, end user and key geographies. Based on the deployment type, the 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.

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Key questions answered in this research report:

• • At what pace is Virtual Classroom market growing, globally? What will be the growth trend in future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints over the coming years?
  • What are the regional Virtual Classroom market revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Virtual Classroom market?
  • What are the various application areas and how they are poised to grow?

Market Segmentation

Virtual Classroom Market By Deployment Mode

• • Cloud Software
  • On-Premise Software

Virtual Classroom Market by Component

• • Solution
  • Hardware
  • Services

Virtual Classroom Market by End User

• • Academic Institute
  • Corporates

Global Virtual Classroom Market by Region

• • North America Virtual Classroom Market (Option 1: As a part of the free 25% customization)
    • By Deployment Mode
    • By Component
    • By End User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Virtual Classroom Market (Option 2: As a part of the free 25% customization)
    • By Deployment Mode
    • By Component
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Virtual Classroom Market (Option 3: As a part of the free 25% customization)
    • By Deployment Mode
    • By Component
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Virtual Classroom Market (Option 4: As a part of the free 25% customization)
    • By Deployment Mode
    • By Component
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up