Metaverse Education - Australia | Statista Market Forecast

The value of the Metaverse Education market in Australia is projected to reach US$43.4m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2030) of 48.61%, resulting in a projected market volume of US$467.0m by 2030.
With a projected market volume of US$1.0bn in 2024, United States generates the most value in this market segment.
In Australia's Metaverse Education market, the number of users is expected to reach 846.2k users by 2030.
User penetration will be 0.8% in 2024 and is expected to increase to 3.0% by 2030.
The average value per user (ARPU) is projected to amount to US$192.6.
Australia is experiencing a surge in virtual reality educational platforms, revolutionizing the way students learn and engage with curriculum.

Definition:

The Education market refers to the use of virtual and augmented reality technology in education and training. This includes both formal education, such as primary, secondary, and higher education, as well as professional education, such as training programs for working professionals.

Structure:

Professional education on the one hand refers to training and development programs for working professionals, such as executive education, certification programs, and continuing education. These programs are typically designed to help professionals acquire new skills, stay current with industry trends, and advance their careers. They can be delivered in a variety of formats, which include online courses, virtual classrooms, and immersive simulations. On the other hand, formal education refers to the traditional classroom-based education system and includes primary, secondary, and higher education. In the metaverse, formal education can take place in virtual classrooms, where students can interact with teachers and classmates in real time and access course materials, assignments, and assessments. Additionally, virtual and augmented reality can be used to create immersive learning experiences that can supplement or replace traditional classroom-based instruction.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending. Market numbers for digital education are also featured in the Digital Market Insights. For more information on the data displayed, use the info button right next to the boxes.

Virtual field trips, such as Google Expeditions
Virtual lab simulations, such as Nearpod
Virtual tutoring and online classes in the metaverse, such as Classcraft

Online classes or courses, such as Udemy
Online univeristy, such as watching lectures online

The Metaverse Education market in Australia is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Metaverse Education market in Australia are shifting towards immersive and interactive learning experiences.

Students and educators are increasingly seeking innovative ways to engage with educational content, and the metaverse provides a unique platform for this. The ability to explore virtual environments, interact with virtual objects, and collaborate with peers in a virtual space is highly appealing to both students and educators. Additionally, the metaverse offers the potential for personalized learning experiences tailored to individual needs and learning styles.

Trends in the market are also contributing to the growth of the Metaverse Education market in Australia. The COVID-19 pandemic has accelerated the adoption of online and remote learning, and the metaverse provides a compelling solution for delivering engaging and interactive virtual classrooms. Educational institutions are increasingly incorporating metaverse technologies into their curricula, offering virtual field trips, simulations, and immersive learning experiences.

Furthermore, the rise of virtual reality (VR) and augmented reality (AR) technologies is driving the development of the metaverse, as these technologies enable users to fully immerse themselves in virtual environments. Local special circumstances in Australia are also playing a role in the development of the Metaverse Education market. Australia has a strong education system and a high demand for quality education.

The metaverse provides an opportunity to enhance the learning experience and bridge the gap between traditional classroom-based learning and digital learning. Additionally, Australia has a thriving technology sector and a supportive ecosystem for innovation and entrepreneurship, which is fostering the growth of metaverse education startups and companies. Underlying macroeconomic factors are also contributing to the growth of the Metaverse Education market in Australia.

The Australian government has recognized the potential of the metaverse in education and has invested in initiatives to promote its adoption. This includes funding for research and development, as well as partnerships with educational institutions and industry stakeholders. Furthermore, the increasing availability and affordability of VR and AR devices are making metaverse education more accessible to a wider audience.

In conclusion, the Metaverse Education market in Australia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards immersive and interactive learning experiences, the adoption of online and remote learning, the rise of VR and AR technologies, and the supportive ecosystem for innovation are all driving the growth of metaverse education in Australia.

Data coverage:

Figures are based on in-app spending, consumer spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, augmented reality (AR) glasses, smartphone apps, or other devices.