Augmented Reality In Training And Education Global Market Report 2024

The augmented reality in training and education market size has grown exponentially in recent years. It will grow from $18.25 billion in 2023 to $30.19 billion in 2024 at a compound annual growth rate (CAGR) of 65.4%. The growth observed during the historical period can be credited to several key factors, including expanded accessibility to mobile devices, early adoption of augmented reality in STEM (Science, Technology, Engineering, and Mathematics) education, pioneering experiments in the field of education, enhancements in content development, increased user engagement, and enhanced interactivity.

The augmented reality in training and education market size is expected to see exponential growth in the next few years. It will grow to $173.2 billion in 2028 at a compound annual growth rate (CAGR) of 54.8%. The anticipated growth in the forecast period can be attributed to several significant factors, including the increasing integration of artificial intelligence (AI) and augmented reality (AR) technologies, the expansion of remote and hybrid learning models, improved accessibility and affordability, the rise of tailored learning solutions, and growing support for practical skill development. Notable trends expected in this forecast period encompass the development of interactive learning modules, hands-on simulations and experiments, personalized learning pathways, the integration of AR in training programs, and the growth of augmented reality books and educational materials.

The augmented reality (AR) technology's integration within educational institutions is propelling the growth of the augmented reality in training and education market. Technology is introducing profound changes in the field of education, and the advanced technology of augmented reality (AR) is making significant improvements in the learning environment. An increasing number of schools and colleges are embracing AR technology to actively engage students and enhance their learning experiences beyond traditional reading and visual aids. For example, the ZSpace application provides students with the means to explore and understand complex subjects such as the human heart and the Earth's atmosphere layers more effectively. According to Riverside Technologies, Inc., AR technology enables students to immerse themselves in educational simulations, offering multiple benefits that enhance the learning experience. These advantages are driving the adoption of advanced technologies by educational institutions, thereby contributing to the improvement of the overall learning environment.

The primary segments within the augmented reality in training and education market include primary and secondary education, test preparation, reskilling and certification programs, higher education, language learning, and other educational domains. Reskilling entails the process of acquiring new skills or providing training to individuals for transitioning to different job roles. Various devices, including classroom projectors, smartphones, laptops, and other technologies, are utilized in both higher education and K-12 educational settings.

The augmented reality in training and education market research report is one of a series of new reports that provides augmented reality in training and education market statistics, including augmented reality in the training and education industry global market size, regional shares, competitors with augmented reality in training and education market segments, market trends and opportunities, and any further data you may need to thrive in the augmented reality in the training and education industry. This augmented reality in training and education market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing demand for vocational training is expected to be a driving force behind the expansion of the augmented reality in the training and education market in the coming years. Vocational training, often referred to as technical and vocational education and training (TVET), equips individuals with the skills needed to work in technical or skilled craft roles. Augmented reality technology is being increasingly applied in vocational training to provide students with a more immersive, interactive, and personalized learning experience. The primary advantages of this trend include the growing need for cost-effective and accessible training options, as well as an increased focus on real-world application and job readiness. For example, data from the National Centre for Vocational Education Research, a nonprofit organization based in Australia that supports research in the vocational education and training sector and provides funding for such research, shows that in 2022, 4.5 million students participated in nationally recognized VET courses, representing a 5.1% increase from 2021. Among these students, 2.1 million were enrolled in nationally recognized programs, and 3.0 million were studying subjects that were not part of nationally recognized programs. This data underscores the heightened demand for vocational training, which, in turn, is a driving force behind the adoption of augmented reality in the training and education market.

The growth of the augmented reality in training and education market is being impeded by the ineffective integration of this technology in classrooms. While augmented reality offers numerous advantages for enhancing the learning process, it faces challenges within the education and training sector. Issues such as the physical constraints of classroom size and configuration, a lack of expertise in integrating AR into educational curricula, and difficulties in navigating the user interface to access and engage with lessons or subjects are hindering the seamless adoption of augmented reality in classroom settings. These challenges underscore the need for addressing integration issues to fully leverage the potential of augmented reality in education and training.

The latest trend in the augmented reality in training and education market is game-based learning using augmented reality. This innovative approach combines gaming and technology to engage students in various activities that enhance their knowledge and skills. For example, organizations such as the Europasss Teacher Academy, a provider of professional development courses, highlight the adoption of augmented reality in schools. This technology is employed to facilitate knowledge acquisition and skill development through gamified experiences. Teachers and educators play a crucial role in integrating various gaming activities into the learning process, capturing students' interest and encouraging active participation. Gamifying academic content intrigues students, motivating them to take on different roles in the learning process. Augmented reality technology in game-based learning is personalized, socially interactive, and extends beyond the traditional classroom environment. This approach empowers students to acquire knowledge and various learning skills in an engaging and immersive manner.

Prominent companies operating in the augmented reality in training and education market are actively pursuing strategic partnerships to better serve the needs of their existing customers. Notable collaborations include initiatives such as the IMT MSc Program and the VR/AR Association, which have come together to advance immersive technology and innovation in the realms of education, training, and game development. For instance, in March 2023, the Immersive Technologies - Innovation in Education, Training, and Game Design (IMT) MSc program at the International Hellenic University (IHU), a public university based in Greece, partnered with the VR/AR Association (VRARA) to achieve several objectives. Firstly, the collaboration aims to facilitate the exchange of knowledge, best practices, and the latest breakthroughs in immersive technology by bringing together experts in the fields of virtual reality (VR) and augmented reality (AR) from academia and industry. Secondly, the partnership seeks to connect IMT MSc Program students with a network of VR and AR professionals. Additionally, it aims to support advancements and discoveries in the VR and AR field, encouraging the development of new applications and technologies. Finally, this strategic alliance endeavors to promote the use of virtual reality and augmented reality technologies in training, instruction, and game development at both the Master's and PhD levels. The VR/AR Association (VRARA) is an international association based in the United States that fosters collaboration among spatial computing solution providers and end users.

In June 2022, The Glimpse Group, Inc., a US-based company specializing in immersive technology platforms, providing virtual reality and augmented reality software and services primarily for enterprises across various industries, completed the acquisition of PulpoAR Inc. The acquisition was made through its subsidiary, QReal, LLC, and the financial terms of the transaction were not disclosed. QReal, LLC structured the deal as an asset acquisition without incurring any associated obligations. The transaction primarily took the form of an equity transaction, involving an initial issuance of common stock, which resulted in a significant dilution of ownership. PulpoAR Inc., based in Turkey, is a technology company specializing in the development of virtual try-on technologies designed for use in both offline and online shopping platforms.

Major companies operating in the augmented reality in training and education market include Google LLC, zSpace Inc., Magic Leap Inc., Alchemy VR Ltd., Unimersiv, GAMOOZ Interactive Solutions Company, Meta Platforms Inc., DAQRI, InGage Technologies Pvt Ltd., Popar, Chromville, NEXT/NOW, VironIT LLC, Groove Jones LLC, HQSoftware, INDE, Augment, metagram Solutions GmbH, Fishermen Labs, Program-Ace, Apptension sp. z o.o, Transition Technologies PSC Sp. z o.o, Quytech Pvt Ltd., Craftars, Appentus Technologies Pvt Ltd., BidOn Games Studio, Mofables, Cortex, ScienceSoft Corporation, Gravity Jack LLC

Asia-Pacific was the largest region in the augmented reality in training and education market in 2023. North America was the second largest region of the augmented reality in training and education market. The regions covered in the augmented reality in training and education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the augmented reality in training and education market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The augmented reality in training and education market includes revenues earned by entities by offering software for education and training purposes that can be used in education/training to help the students, and corporate employees to equip them with the knowledge or acquire skills by experiencing and interacting with different forms of reality, simulation, games, and others. Augmented reality provides an interactive experience of the real-world environment by integrating digital visual content and audio into the real-world environment. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in augmented reality in training and education market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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