Global Virtual Classroom Market

The virtual classroom is defined as an electronic learning environment in which users can interact, learn, present, and discuss through utilizing a range of virtual classroom solutions and web-based applications. Also, the virtual classroom allows the corporate sector and educational institutions to curb travel time and enhance productivity for interaction among colleagues. Typically, the interactions occur via video conferencing. The most popular tools utilized in virtual classrooms are instant messaging tools, online whiteboards for real-time collaboration, breakout rooms, and participation controls. These tools are likely to strengthen the adoption of virtual classroom software, which, in turn, aiding the growth of the global virtual classroom market. Apart from these factors, the rise in focus towards online education in academic institutions and corporate training, along with the increase in funding on education and e-learning are the few factors responsible for the high CAGR of the market during the forecast period. For instance, in June 2018, VIPKID, a Chinese online education firm, has raised USD 500 million in funding for children’s language learning and offers an educational experience to students aged between 4-12 years. Similarly, in 2020, Google launched a partnership with the Central Board of Secondary Education (CBSE) to digitalize classrooms in India. Google also offered a USD 1 million grant for Kaivalya Education Foundation (KEF) via the Global Distance Learning Fund that aimed to support teachers to provide a virtual education to students in the country. Thus, the increased funding by the government and tech giants insists online education market players develop an online platform that can connect prospective teachers and K-12 students efficiently, which will foster market growth throughout the world. However, the lack of infrastructure and resources in industries and lack of industry standards, coupled with the high cost of AR and VR devices are the few major factors limiting the market growth over the forecast period of 2020-2027.

Global Virtual Classroom Market is valued at approximately USD 3.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.5% over the forecast period 2020-2027 and is estimated to reach USD 13.1 billion by 2027.

The regional analysis of the global Virtual Classroom market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the large adoption of virtual classrooms in the education sector, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in government support or initiatives to provide education in remote areas and the growing inclination towards the implementation of virtual classroom solutions in developing countries, such as China and India, would create lucrative growth prospects for the Virtual Classroom market across the Asia-Pacific region.

Major market players included in this report are IBM Corporation, Microsoft Corporation, Oracle Corporation, Cisco System Inc, Saba Software., Google (Alphabet Inc.), Panasonic Corporation, Hitachi, Ltd, Sony Corporation., and Blackboard Inc.

The detailed segments and sub-segment of the market are explained below:

By Component: Solution, Hardware, Services

By Deployment Type: On-premises, Cloud

By End-User: Academic Institutions, Corporates

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