Virtual Classroom Market Segments: by Mode (Non-profit, Higher education department (HED), Government, Consumer, K-12, and Corporate); by Component Type (Software, Services, Educational Content, and Hardware) and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
A virtual classroom can be defined as an educational environment in which participants may interact, connect, view, and discuss conferences and work collaboratively, all in an online environment. This often involves the application for video conferencing which allows many users to connect to the internet simultaneously. A virtual classroom is a shared online environment in which learners and tutors simultaneously work together. The attendees have the instruments to display the content of their education and to carry out collaborative and individual activities in various formats. It offers flexible learning, replacing traditional education methods in the classroom. Several education centers, for example with smart notebooks, whiteboards, etc, change their inclination toward an intelligent educational concept. Virtual Classroom is the term applied to the modern learning process.
The global Virtual Classroom Market is expected to project a notable CAGR of 16.90% in 2030.
Global Virtual Classroom Market to surpass USD 61.14 billion by 2030 from USD 12.83 billion in 2020 at a CAGR of 16.90% in the coming years, i.e., 2021-30. Simple access to information, convergence with virtual reality, a strong approach, and the integration of the latest technology are key drivers of the size of the online market for Virtual Classroom. In addition, increased education, rising internet, and mobile users, and multi-lingual choice by multinational companies give people working in the overall Virtual Classroom market enormous growth opportunities. The main drivers of the Virtual Classroom market are globalization and the increasing need for cross-border communication.
Software segment to grow with the highest CAGR during 2020-30
Global Virtual Classroom Market is segmented by Component Type into Software, Services, Educational Content, and Hardware. It is anticipated that software as a service sector will account for the largest part of the overall Virtual Classroom market during the predicted timeline. Software services deliver institutions with well-organized ERP systems that help faculty members build improved training and skillfully manage virtual classrooms and schools. Online training platforms create virtual classrooms that enable teachers with no budget constraints to manage a big audience. K-12 and institutions of higher education are constantly struggling to manage complex IT solutions spanning campus-wide.
Cloud segment to grow with the highest CAGR during 2020-30
Global Virtual Classroom Market is divided by deployment Mode into On Cloud and on-premises. Based on mode, by 2030, the cloud category will account for the largest proportion of the global online learning industry. The deployment of a virtual online classroom is growing in features like safety, reduced price, wide availability, personalization, automatic content upgrades, high scalability, and lower storage space. Cloud-based training and development solutions are becoming increasingly popular in companies and education because they cost less than local solutions.
Increased investment in education
Education is seen in the majority of countries not only as a human right but also as the responsibility to guarantee access to basic training for residents and governments. The national governments also declare an immediate increase in investment in education to support the crisis in global education.
Simpler access to information
Simple access to information, convergence with virtual reality, a strong approach, and the integration of the latest technology are key drivers of the size of the online market for Virtual Classroom. Additionally, increased education, rising internet, and mobile users, and the use of software and tools for e-learning offer various advantages, such as a reduction of cost in the traditionally educational modules, higher income for each trained employee, higher productivity, and other benefits which have, in turn, increased user acceptance.
Lack of awareness regarding Virtual Classroom existence
Many businesses are there are not aware of the basics of the Virtual Classroom which is estimated to hinder the growth of the Virtual Classroom market. In addition, internet access has not penetrated all parts of the world thus hindering market growth. Moreover, the absence of industrial resources and infrastructure and the inadequacy of industry standards hinder virtual education market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The global Virtual Classroom market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
Global Virtual Classroom Market in the Asia Pacific held the largest market share in the year 2020. The Area of Asia Pacific, followed by Europe, the Middle East & Africa, and Latin America is expected to have the highest portion of the overall Virtual Classroom industry by 2030. Asia-Pacific is also the fastest-growing area due to factors such as increased enrollment in online high schools, the proliferation of multinationals, largely young people searching for better jobs, increased mobile penetration, increased content digitization, and government interventions in national online education networks, and a lack of teachers.
Global Virtual Classroom Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
The Specialty Virtual Classroom Market size was estimated at USD 12.83 billion in 2020 and is expected to reach USD 61.14 billion by 2030
Key players: Blackboard (US), Samsung (South Korea), New row (US), D2L (Canada), Huawei (China), Cornerstone OnDemand (US), IBM (US), McGraw-Hill (US), CrossKnowledge (US), Cisco (US), Pearson (UK), Alphabet (US), Adobe (US), Saba Software (US), BenQ (Taiwan), and Other Prominent Players
The software and Cloud segment are anticipated to hold the largest Specialty Virtual Classroom Market.
Increased investment in education and Simpler access to information
Virtual classroom can be defined as an educational environment in which participants may interact, connect, view, and discuss conferences and work collaboratively, all in an online environment. This often involves the application for video conferencing which allows many users to connect to the internet simultaneously. A virtual classroom is a shared online environment in which learners and tutors simultaneously work together.
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