Table of Content

1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 MARKET DEFINITION 23
1.2.1 INCLUSIONS AND EXCLUSIONS 24
1.3 MARKET SCOPE 25
1.3.1 MARKET SEGMENTATION 25
1.3.2 REGIONS COVERED 25
1.3.3 YEARS CONSIDERED 26
1.4 CURRENCY CONSIDERED 26
TABLE 1 USD EXCHANGE RATES, 2019–2022 26
1.5 STAKEHOLDERS 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
FIGURE 1 METAVERSE IN EDUCATION MARKET: RESEARCH DESIGN 28
2.1.1 SECONDARY DATA 29
TABLE 2 LIST OF KEY SECONDARY SOURCES 29
2.1.2 PRIMARY DATA 29
2.1.2.1 Breakup of primaries 30
2.1.2.2 Primary respondents 30
TABLE 3 METAVERSE IN EDUCATION MARKET: PRIMARY RESPONDENTS 30
2.1.2.3 Key industry insights 31
2.2 DATA TRIANGULATION 31
2.3 MARKET SIZE ESTIMATION 32
FIGURE 2 METAVERSE IN EDUCATION MARKET: TOP-DOWN AND BOTTOM-UP APPROACH 32
2.3.1 SUPPLY-SIDE APPROACH 32
FIGURE 3 APPROACH 1 (SUPPLY-SIDE): REVENUE OF METAVERSE IN EDUCATION FROM VENDORS 33
FIGURE 4 BOTTOM-UP APPROACH (SUPPLY SIDE): COLLECTIVE REVENUE OF METAVERSE IN EDUCATION VENDORS 34
FIGURE 5 MARKET PROJECTIONS FROM SUPPLY SIDE 35
2.3.2 DEMAND-SIDE APPROACH 35
FIGURE 6 APPROACH 2 (DEMAND SIDE): REVENUE OF VENDORS FROM VARIOUS SEGMENTS 36
FIGURE 7 MARKET PROJECTIONS FROM DEMAND SIDE 36
2.4 MARKET FORECAST 37
TABLE 4 FACTOR ANALYSIS 37
2.4.1 RECESSION IMPACT ANALYSIS 38
2.5 RESEARCH ASSUMPTIONS 38
TABLE 5 ASSUMPTIONS 38
2.6 LIMITATIONS 39
3 EXECUTIVE SUMMARY 40
FIGURE 8 METAVERSE IN EDUCATION MARKET SNAPSHOT, 2020–2028 41
FIGURE 9 TOP MARKET SEGMENTS IN TERMS OF GROWTH RATE 42
FIGURE 10 METAVERSE SOFTWARE IN EDUCATION TO ACCOUNT FOR LARGEST MARKET BY 2028 43
FIGURE 11 AR DEVICES TO ACCOUNT FOR LARGEST HARDWARE MARKET BY 2028 43
FIGURE 12 STRATEGY & BUSINESS CONSULTING SERVICES TO ACCOUNT FOR LARGEST MARKET BY 2028 44
FIGURE 13 ACADEMIC END USERS TO ACCOUNT FOR LARGEST MARKET BY 2028 45
FIGURE 14 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 46
4 PREMIUM INSIGHTS 47
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN METAVERSE IN EDUCATION MARKET 47
FIGURE 15 DRASTIC GEOGRAPHIC CHANGE AND TECHNOLOGICAL EVOLUTION TO DRIVE METAVERSE IN EDUCATION’S ARCHIVING GROWTH 47
4.2 METAVERSE IN EDUCATION MARKET, BY COMPONENT 47
FIGURE 16 SOFTWARE COMPONENT TO ACCOUNT FOR LARGEST SHARE IN 2023 AND 2028 47
4.3 METAVERSE IN EDUCATION MARKET, BY HARDWARE 48
FIGURE 17 AR DEVICES TO BECOME LARGEST HARDWARE MARKET BY 2028 48
4.4 METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE 48
FIGURE 18 STRATEGY & BUSINESS CONSULTING SEGMENT TO ACCOUNT FOR LARGER SHARE AMONG PROFESSIONAL SERVICES IN 2023 48
4.5 METAVERSE IN EDUCATION MARKET, BY END USER 49
FIGURE 19 ACADEMIC END USERS TO ACCOUNT FOR LARGER SHARE THAN CORPORATE END USERS 49
4.6 METAVERSE IN EDUCATION MARKET, BY REGION 49
FIGURE 20 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS 49
5 MARKET OVERVIEW AND INDUSTRY TRENDS 50
5.1 INTRODUCTION 50
5.2 MARKET DYNAMICS 50
FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: METAVERSE IN EDUCATION MARKET 50
5.2.1 DRIVERS 51
5.2.1.1 Increase in industrial training and deployment in education sector 51
5.2.1.2 Rapid adoption of virtual technologies 51
FIGURE 22 STAGES OF VR ADOPTION IN COMPANIES 51
5.2.1.3 Decrease in price of VR headsets 52
5.2.2 RESTRAINTS 52
5.2.2.1 Requirement of reliable and scalable technology infrastructure 52
5.2.2.2 Health and mental issues from excessive use 52
5.2.2.3 High installation and maintenance costs of high-end metaverse components 53
5.2.3 OPPORTUNITIES 53
5.2.3.1 Immersive experience offered to students 53
5.2.3.2 Major infusion of educational technology prompted by COVID-19 pandemic 53
5.2.3.3 Constantly evolving 5G technology 54
5.2.4 CHALLENGES 54
5.2.4.1 Fear of content development, digital inequality, and access issues 54
5.2.4.2 Innovation in transforming education ecosystem 54
5.3 CASE STUDY ANALYSIS 55
5.3.1 STEVENS INSTITUTE OF TECHNOLOGY UTILIZED SAMSUNG INTERACTIVE BOARDS FOR DISTANT CLASSROOMS 55
5.3.2 ECNU XIPING BILINGUAL SCHOOL SUPPORTED SUPERIOR EDUCATIONAL EXPERIENCES WITH LENOVO THINKAGILE VX SERIES 55
5.3.3 ONTARIO COLLEGE TURNED TO MICROSOFT’S MIXED REALITY FOR FUTURE OF TRAINING 56
5.3.4 KATHERINE WARINGTON SCHOOL ENHANCED CLASSROOM ENGAGEMENT WITH CLASSVR 57
5.3.5 UNITY PREPARES TAFE QUEENSLAND STUDENTS FOR IN-DEMAND CAREERS WITH UAA 57
5.4 ECOSYSTEM 58
FIGURE 23 METAVERSE IN EDUCATION MARKET ECOSYSTEM 58
5.5 VALUE CHAIN ANALYSIS 59
FIGURE 24 METAVERSE IN EDUCATION MARKET: VALUE CHAIN 59
5.6 PRICING ANALYSIS 59
5.6.1 INTRODUCTION 59
5.6.2 AVERAGE SELLING PRICE TRENDS 59
5.6.3 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY TYPE 60
TABLE 6 METAVERSE IN EDUCATION MARKET: PRICING ANALYSIS, BY VENDOR 60
5.7 PATENT ANALYSIS 60
FIGURE 25 NUMBER OF PATENTS PUBLISHED, 2012–2022 60
FIGURE 26 TOP TEN GLOBAL PATENT APPLICANTS IN 2022 61
TABLE 7 TOP PATENT OWNERS 61
5.8 TECHNOLOGY ANALYSIS 62
5.8.1 AI AND ML 62
5.8.2 5G NETWORK 62
5.8.3 INTERNET OF THINGS 63
5.8.4 VIRTUAL REALITY 63
5.8.5 AUGMENTED REALITY 63
5.9 REGULATORY LANDSCAPE 64
5.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 64
TABLE 8 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 64
TABLE 9 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 64
TABLE 10 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 65
TABLE 11 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 65
5.9.2 REGULATIONS, BY REGION 65
5.9.2.1 North America 65
5.9.2.2 Europe 66
5.9.2.3 Asia Pacific 67
5.9.2.4 Middle East & South Africa 67
5.9.2.5 Latin America 67
5.9.3 REGULATORY IMPLICATIONS AND INDUSTRY STANDARDS 67
5.9.3.1 General Data Protection Regulation 68
5.9.3.2 SEC Rule 17a-4 68
5.9.3.3 ISO/IEC 27001 68
5.9.3.4 System and Organization Controls 2 Type II Compliance 68
5.9.3.5 Financial Industry Regulatory Authority 68
5.9.3.6 Freedom of Information Act 68
5.9.3.7 Health Insurance Portability and Accountability Act 69
5.10 PORTER’S FIVE FORCES MODEL 69
FIGURE 27 METAVERSE IN EDUCATION MARKET: PORTER’S FIVE FORCES ANALYSIS 69
TABLE 12 METAVERSE IN EDUCATION MARKET: PORTER’S FIVE FORCES ANALYSIS 70
5.10.1 INTENSITY OF COMPETITIVE RIVALRY 70
5.10.2 BARGAINING POWER OF SUPPLIERS 70
5.10.3 BARGAINING POWER OF BUYERS 70
5.10.4 THREAT OF NEW ENTRANTS 71
5.10.5 THREAT OF SUBSTITUTES 71
5.11 KEY CONFERENCES AND EVENTS 71
TABLE 13 METAVERSE IN EDUCATION MARKET: KEY CONFERENCES AND EVENTS, 2023–2024 71
5.12 TRENDS/DISRUPTIONS IMPACTING BUYERS 72
FIGURE 28 METAVERSE IN EDUCATION MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS 72
5.13 KEY STAKEHOLDERS & BUYING CRITERIA 73
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 73
FIGURE 29 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP HARDWARE 73
TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP HARDWARE 73
5.13.2 BUYING CRITERIA 74
FIGURE 30 KEY BUYING CRITERIA FOR TOP THREE HARDWARE 74
TABLE 15 KEY BUYING CRITERIA FOR TOP THREE HARDWARE 74
6 METAVERSE IN EDUCATION MARKET, BY COMPONENT 75
6.1 INTRODUCTION 76
FIGURE 31 METAVERSE SOFTWARE IN EDUCATION TO ACCOUNT FOR LARGEST MARKET SIZE 76
6.1.1 COMPONENT: METAVERSE IN EDUCATION MARKET DRIVERS 76
TABLE 16 METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2018–2022 (USD MILLION) 77
TABLE 17 METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 77
6.2 HARDWARE 77
FIGURE 32 AR DEVICES TO ACCOUNT FOR LARGEST METAVERSE HARDWARE MARKET IN EDUCATION 78
TABLE 18 HARDWARE: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 78
TABLE 19 HARDWARE: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 78
TABLE 20 METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2018–2022 (USD MILLION) 79
TABLE 21 METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2023–2028 (USD MILLION) 79
6.2.1 AR DEVICES 79
6.2.1.1 Facilitating more efficient and interactive engagement with subjects 79
TABLE 22 AR DEVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 80
TABLE 23 AR DEVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 80
6.2.2 VR DEVICES 80
6.2.2.1 Allowing students to manipulate virtual objects using natural hand gestures 80
TABLE 24 VR DEVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 81
TABLE 25 VR DEVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 81
6.2.3 MR DEVICES 82
6.2.3.1 High-performance graphics to experience enhanced learning 82
TABLE 26 MR DEVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 82
TABLE 27 MR DEVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 82
6.2.4 INTERACTIVE DISPLAYS & PROJECTORS 83
6.2.4.1 Enhanced students’ cognitive learning capabilities 83
TABLE 28 INTERACTIVE DISPLAYS & PROJECTORS: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 83
TABLE 29 INTERACTIVE DISPLAYS & PROJECTORS: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 83
6.3 SOFTWARE 84
TABLE 30 SOFTWARE: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 84
TABLE 31 SOFTWARE: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 84
6.3.1 EXTENDED REALITY SOFTWARE 85
6.3.1.1 Improved learning capabilities and reduction in learning time 85
6.3.2 GAMING ENGINES 85
6.3.2.1 Creating fun and engaging ways for students 85
6.3.3 METAVERSE PLATFORM 86
6.3.3.1 More engaging experience than traditional classroom lectures or online courses 86
6.3.4 3D MAPPING, MODELING, AND RECONSTRUCTION 86
6.3.4.1 Creating natural-looking spaces to enhance student engagement 86
6.4 PROFESSIONAL SERVICES 86
FIGURE 33 STRATEGY & BUSINESS CONSULTING SERVICES TO ACCOUNT FOR LARGEST PROFESSIONAL SERVICES MARKET 87
TABLE 32 PROFESSIONAL SERVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 87
TABLE 33 PROFESSIONAL SERVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 87
TABLE 34 METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 88
TABLE 35 METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 88
6.4.1 APPLICATION DEVELOPMENT & SYSTEM INTEGRATION 88
6.4.1.1 Deep understanding of various components involved and ability to implement interfaces 88
TABLE 36 APPLICATION DEVELOPMENT & SYSTEM INTEGRATION: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 89
TABLE 37 APPLICATION DEVELOPMENT & SYSTEM INTEGRATION: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 89
6.4.2 STRATEGY & BUSINESS CONSULTING SERVICES 89
6.4.2.1 Helping clients identify and solve problems, achieve their goals, and improve their overall performance 89
TABLE 38 STRATEGY & BUSINESS CONSULTING SERVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 90
TABLE 39 STRATEGY & BUSINESS CONSULTING SERVICES: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 90
7 METAVERSE IN EDUCATION MARKET, BY END USER 91
7.1 INTRODUCTION 92
FIGURE 34 ACADEMIC END USERS TO ACCOUNT FOR LARGEST MARKET 92
7.1.1 END USER: METAVERSE IN EDUCATION MARKET DRIVERS 92
TABLE 40 METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 93
TABLE 41 METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 93
7.2 ACADEMIC 93
7.2.1 INCREASED USAGE OF HANDHELD DEVICES FOR LEARNING 93
TABLE 42 ACADEMIC: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 94
TABLE 43 ACADEMIC: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 94
TABLE 44 METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2018–2022 (USD MILLION) 94
TABLE 45 METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION) 95
7.2.2 K–12 95
7.2.2.1 Multiple innovative resources to access metaverse in schools 95
TABLE 46 K–12: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 95
TABLE 47 K–12: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 96
7.2.3 HIGHER EDUCATION 96
7.2.3.1 Students offered benefits of learning from anywhere 96
TABLE 48 HIGHER EDUCATION: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 96
TABLE 49 HIGHER EDUCATION: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 97
7.3 CORPORATE 97
7.3.1 COLLABORATION AND SOCIAL LEARNING FOR EMPLOYEES WITHIN VIRTUAL ENVIRONMENT 97
TABLE 50 CORPORATE: METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 97
TABLE 51 CORPORATE: METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 98
8 METAVERSE IN EDUCATION MARKET, BY REGION 99
8.1 INTRODUCTION 100
FIGURE 35 NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET SHARE BY 2028 100
TABLE 52 METAVERSE IN EDUCATION MARKET, BY REGION, 2018–2022 (USD MILLION) 100
TABLE 53 METAVERSE IN EDUCATION MARKET, BY REGION, 2023–2028 (USD MILLION) 101
8.2 NORTH AMERICA 101
8.2.1 NORTH AMERICA: METAVERSE IN EDUCATION MARKET DRIVERS 101
8.2.2 NORTH AMERICA: RECESSION IMPACT 102
FIGURE 36 NORTH AMERICA: MARKET SNAPSHOT 102
TABLE 54 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2018–2022 (USD MILLION) 103
TABLE 55 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 103
TABLE 56 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2018–2022 (USD MILLION) 103
TABLE 57 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2023–2028 (USD MILLION) 104
TABLE 58 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 104
TABLE 59 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 104
TABLE 60 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 104
TABLE 61 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 105
TABLE 62 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2018–2022 (USD MILLION) 105
TABLE 63 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION) 105
TABLE 64 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 105
TABLE 65 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 106
8.2.3 US 106
8.2.3.1 Adoption of advanced technologies such as AR and VR 106
TABLE 66 US: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 106
TABLE 67 US: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 106
8.2.4 CANADA 107
8.2.4.1 Combination of games and education offered in institutions 107
TABLE 68 CANADA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 107
TABLE 69 CANADA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 107
8.3 EUROPE 108
8.3.1 EUROPE: METAVERSE IN EDUCATION MARKET DRIVERS 108
8.3.2 EUROPE: RECESSION IMPACT 108
TABLE 70 EUROPE: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2018–2022 (USD MILLION) 109
TABLE 71 EUROPE: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 109
TABLE 72 EUROPE: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2018–2022 (USD MILLION) 109
TABLE 73 EUROPE: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2023–2028 (USD MILLION) 110
TABLE 74 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 110
TABLE 75 NORTH AMERICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 110
TABLE 76 EUROPE: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 110
TABLE 77 EUROPE: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 111
TABLE 78 EUROPE: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2018–2022 (USD MILLION) 111
TABLE 79 EUROPE: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION) 111
TABLE 80 EUROPE: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 111
TABLE 81 EUROPE: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 112
8.3.3 UK 112
8.3.3.1 Growth in use of VR headsets 112
TABLE 82 UK: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 112
TABLE 83 UK: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 112
8.3.4 GERMANY 113
8.3.4.1 Increase in digitalization and effective management of metaverse in education through various stages 113
TABLE 84 GERMANY: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 113
TABLE 85 GERMANY: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 113
8.3.5 FRANCE 114
8.3.5.1 Strong support from French government for adoption of metaverse in education sector 114
TABLE 86 FRANCE: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 114
TABLE 87 FRANCE: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 114
8.3.6 REST OF EUROPE 114
TABLE 88 REST OF EUROPE: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 115
TABLE 89 REST OF EUROPE: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 115
8.4 ASIA PACIFIC 115
8.4.1 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET DRIVERS 115
8.4.2 ASIA PACIFIC: RECESSION IMPACT 116
FIGURE 37 ASIA PACIFIC: REGIONAL SNAPSHOT 116
TABLE 90 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2018–2022 (USD MILLION) 117
TABLE 91 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 117
TABLE 92 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2018–2022 (USD MILLION) 117
TABLE 93 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2023–2028 (USD MILLION) 118
TABLE 94 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 118
TABLE 95 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 118
TABLE 96 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 118
TABLE 97 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 119
TABLE 98 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2018–2022 (USD MILLION) 119
TABLE 99 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION) 119
TABLE 100 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 119
TABLE 101 ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 120
8.4.3 CHINA 120
8.4.3.1 Presence of innovative technologies 120
TABLE 102 CHINA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 120
TABLE 103 CHINA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 121
8.4.4 JAPAN 121
8.4.4.1 Increased R&D investments and skilled professionals 121
TABLE 104 JAPAN: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 121
TABLE 105 JAPAN: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 121
8.4.5 INDIA 122
8.4.5.1 Continuous upgrades to metaverse IT infrastructure and applications 122
TABLE 106 INDIA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 122
TABLE 107 INDIA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 122
8.4.6 REST OF ASIA PACIFIC 122
TABLE 108 REST OF ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 123
TABLE 109 REST OF ASIA PACIFIC: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 123
8.5 MIDDLE EAST & AFRICA 123
8.5.1 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET DRIVERS 124
8.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT 124
TABLE 110 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2018–2022 (USD MILLION) 124
TABLE 111 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 125
TABLE 112 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2018–2022 (USD MILLION) 125
TABLE 113 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2023–2028 (USD MILLION) 125
TABLE 114 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 125
TABLE 115 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 126
TABLE 116 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 126
TABLE 117 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 126
TABLE 118 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2018–2022 (USD MILLION) 126
TABLE 119 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION) 127
TABLE 120 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 127
TABLE 121 MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 127
8.5.3 KINGDOM OF SAUDI ARABIA 127
8.5.3.1 Commitment to collaborating with educational institutions and policymakers 127
TABLE 122 KINGDOM OF SAUDI ARABIA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 128
TABLE 123 KINGDOM OF SAUDI ARABIA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 128
8.5.4 UAE 128
8.5.4.1 Rise in government investments and economic development 128
TABLE 124 UAE: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 129
TABLE 125 UAE: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 129
8.5.5 REST OF THE MIDDLE EAST & AFRICA 129
TABLE 126 REST OF THE MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 129
TABLE 127 REST OF THE MIDDLE EAST & AFRICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 130
8.6 LATIN AMERICA 130
8.6.1 LATIN AMERICA: METAVERSE IN EDUCATION MARKET DRIVERS 130
8.6.2 LATIN AMERICA: RECESSION IMPACT 131
TABLE 128 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2018–2022 (USD MILLION) 131
TABLE 129 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 132
TABLE 130 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2018–2022 (USD MILLION) 132
TABLE 131 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY HARDWARE, 2023–2028 (USD MILLION) 132
TABLE 132 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION) 133
TABLE 133 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 133
TABLE 134 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 133
TABLE 135 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 133
TABLE 136 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2018–2022 (USD MILLION) 134
TABLE 137 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY ACADEMIC END USER, 2023–2028 (USD MILLION) 134
TABLE 138 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 134
TABLE 139 LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 134
8.6.3 BRAZIL 135
8.6.3.1 Promotion of creativity and innovation among students through latest software 135
TABLE 140 BRAZIL: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 135
TABLE 141 BRAZIL: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 135
8.6.4 MEXICO 136
8.6.4.1 Major digital transformation in education sector 136
TABLE 142 MEXICO: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 136
TABLE 143 MEXICO: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 136
8.6.5 REST OF LATIN AMERICA 137
TABLE 144 REST OF LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2018–2022 (USD MILLION) 137
TABLE 145 REST OF LATIN AMERICA: METAVERSE IN EDUCATION MARKET, BY END USER, 2023–2028 (USD MILLION) 137
9 COMPETITIVE LANDSCAPE 138
9.1 INTRODUCTION 138
9.2 RIGHT TO WIN 138
TABLE 146 OVERVIEW OF STRATEGIES ADOPTED BY KEY VENDORS 138
9.3 MARKET SHARE ANALYSIS 142
TABLE 147 MARKET SHARE OF KEY VENDORS, 2022 142
FIGURE 38 METAVERSE IN EDUCATION MARKET SHARE ANALYSIS 143
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9.4 HISTORICAL REVENUE ANALYSIS OF TOP VENDORS 144
FIGURE 39 HISTORICAL REVENUE ANALYSIS, 2018–2022 (USD MILLION) 144
9.5 KEY COMPANY EVALUATION QUADRANT 144
FIGURE 40 COMPANY EVALUATION MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE 145
9.5.1 STARS 145
9.5.2 EMERGING LEADERS 145
9.5.3 PERVASIVE PLAYERS 145
9.5.4 PARTICIPANTS 146
FIGURE 41 COMPANY EVALUATION QUADRANT FOR KEY PLAYERS 146
TABLE 148 OVERALL COMPANY FOOTPRINT FOR KEY PLAYERS 147
9.6 OTHER PLAYER AND STARTUP/SME EVALUATION QUADRANT 147
FIGURE 42 EVALUATION MATRIX FOR STARTUPS/SMES: CRITERIA WEIGHTAGE 148
9.6.1 RESPONSIVE COMPANIES 148
9.6.2 PROGRESSIVE COMPANIES 148
9.6.3 DYNAMIC COMPANIES 148
9.6.4 STARTING BLOCKS 148
FIGURE 43 COMPANY EVALUATION QUADRANT FOR OTHER PLAYERS AND STARTUPS/SMES 149
TABLE 149 OVERALL COMPANY FOOTPRINT FOR STARTUPS/SMES 150
9.6.5 COMPETITIVE BENCHMARKING OF STARTUPS/SMES 150
TABLE 150 KEY STARTUPS/SMES 150
9.7 COMPANY FINANCIAL METRICS 151
FIGURE 44 COMPANY FINANCIAL METRICS, 2022 151
9.8 BAL SNAPSHOT OF KEY MARKET PARTICIPANTS 152
FIGURE 45 GLOBAL SNAPSHOT OF KEY METAVERSE IN EDUCATION MARKET PARTICIPANTS, 2022 152
9.9 KEY MARKET DEVELOPMENTS 153
TABLE 151 METAVERSE IN EDUCATION MARKET: PRODUCT LAUNCHES AND ENHANCEMENT, 2020–2023 153
TABLE 152 METAVERSE IN EDUCATION MARKET: DEALS, 2020–2023 156
10 COMPANY PROFILES 161
10.1 INTRODUCTION 161
(Business overview, Products/Services offered, Recent developments & MnM View)*
10.2 KEY PLAYERS 161
10.2.1 META PLATFORMS, INC. 161
TABLE 153 META PLATFORMS, INC.: BUSINESS OVERVIEW 161
FIGURE 46 META PLATFORMS, INC.: COMPANY SNAPSHOT 162
TABLE 154 META PLATFORMS, INC.: PRODUCTS/SERVICES OFFERED 163
TABLE 155 META PLATFORMS, INC.: PRODUCT LAUNCHES & ENHANCEMENT 163
TABLE 156 META PLATFORMS, INC.: DEALS 164
10.2.2 MICROSOFT CORPORATION 166
TABLE 157 MICROSOFT CORPORATION: BUSINESS OVERVIEW 166
FIGURE 47 MICROSOFT CORPORATION: COMPANY SNAPSHOT 167
TABLE 158 MICROSOFT CORPORATION: PRODUCTS/SERVICES OFFERED 167
TABLE 159 MICROSOFT CORPORATION: PRODUCT LAUNCHES AND ENHANCEMENTS 168
TABLE 160 MICROSOFT CORPORATION: DEALS 169
10.2.3 ADOBE INC. 171
TABLE 161 ADOBE INC.: BUSINESS OVERVIEW 171
FIGURE 48 ADOBE INC.: COMPANY SNAPSHOT 172
TABLE 162 ADOBE INC.: PRODUCT/SERVICES OFFERED 173
TABLE 163 ADOBE INC.: PRODUCT LAUNCHES AND ENHANCEMENTS 174
TABLE 164 ADOBE INC.: DEALS 174
10.2.4 HP INC. 176
TABLE 165 HP INC.: BUSINESS OVERVIEW 176
FIGURE 49 HP INC.: COMPANY SNAPSHOT 177
TABLE 166 HP INC.: PRODUCTS/SERVICES OFFERED 178
TABLE 167 HP INC.: PRODUCT LAUNCHES AND ENHANCEMENTS 178
TABLE 168 HP INC.: DEALS 179
10.2.5 UNITY SOFTWARE INC. 180
TABLE 169 UNITY SOFTWARE INC.: BUSINESS OVERVIEW 180
FIGURE 50 UNITY SOFTWARE INC.: COMPANY SNAPSHOT 181
TABLE 170 UNITY SOFTWARE INC.: PRODUCTS/SERVICES OFFERED 181
TABLE 171 UNITY SOFTWARE INC.: PRODUCT LAU