Global Virtual Classroom Market Analysis and Forecast Report 2030
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 towards an intelligent educational concept. Virtual Classroom is the term applied to the modern learning process.
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 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 on 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.
Global Virtual Classroom Market: Segments
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 on 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 on 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 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 offers 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, access to internet has not penetrated to all parts of the world thus hindering the market growth. Moreover, the absence of industrial resources and infrastructure and the inadequacy of industry standards hinder virtual education market growth.
Global Virtual Classroom Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Samsung (South Korea)
Cornerstone OnDemand (US)
Saba Software (US)
Other Prominent Players
Global Virtual Classroom Market: Regions
Global Virtual Classroom market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Global Virtual Classroom Market in 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, 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 – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Virtual Classroom Market report also contains analysis on:
Virtual Classroom Segments:
By Deployment Mode
By Component Type
Virtual Classroom Dynamics
Virtual Classroom Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Global Virtual Classroom Market Report Scope and Segmentation
Frequently Asked Questions
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