The global market for AR, VR and Simulation-based learning products is in the midst of profound transformation – not growing traditionally via small incremental changes to existing products annually –but driven by fundamentally new types of learning products. Metaari, the firm analyzing change in the learning technologies market, forecasts global revenues will surge to $15.6 billion by 2025.
Catalysts currently driving this growth. Image credit: Metaari
The one common characteristic of these new learning technologies is that they enable real-time performance improvement.
“These next-generation AR, VR, and Simulation-based products accomplish both knowledge transfer and learning transfer, each a phase of the learning process, simultaneously,” Sam Adkins, chief analyst, Metaari explains.
Early-to-market suppliers have primed market growth by giving away entry-level products to schools. Children exposed to VR go home asking parents to buy them home use products. Manufacturers have also made a concentrated effort to implement AR and VR instructional programs in the global high education segment. Development engine companies Unity and Epic’s Unreal Engine offer free academic licensing models. The large spend is coming, with corporate training leading the forecast.
Metaari’s 281 page report is designed to provide insight to investors and sales leads to solution providers, developers, academic organizations, government agencies and other potential suppliers.
Metaari’s report has three sections: an analysis of the major catalysts driving the market, a demand side-analysis and a supply-side analysis.
The demand-side analysis includes five-year forecasts for six buying segments: consumers, Pre K-12 schools, tertiary and higher education institutions, local/state/provincial/prefecture government agencies, federal government agencies, and corporations and businesses.
The supply-side analysis includes a detailed five-year forecast for eight types of packaged retail AR, VR, and simulation-based learning content including cognitive learning, knowledge-based, skill-based, language learning, early childhood learning, performance assessment, role-based behavior modification, and location-based learning.
The report also identifies leading companies operating globally, the types of products they sell and their primary customers. A detailed analysis of companies funded by the investment community is also included.