Metaverse Education - Baltics | Statista Market Forecast

The Metaverse Education market is expected to reach a value of US$3.2m in 2024.
This market segment is projected to experience a compound annual growth rate (CAGR 2024-2030) of 49.11%, resulting in a market volume of US$35.1m by 2030.
It is worth noting that United States is the primary generator of value in this market, with a projected market volume of US$1.0bn in 2024.
In terms of users, the Metaverse Education market is expected to have approximately 150.6k users users by 2030.
The user penetration rate is projected to be 0.7% in 2024 and is expected to reach 2.7% by 2030.
Furthermore, the average value per user (ARPU) is estimated to be US$80.7.
It is important to mention that these projections and figures apply to the Metaverse Education market, including the country in Baltics.
In the Baltics, the demand for Metaverse Education is rapidly growing, with virtual classrooms and interactive learning experiences becoming increasingly popular.

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 Baltics is experiencing significant growth and development in recent years.

Customer preferences: Customers in the Baltics are increasingly embracing virtual reality (VR) and augmented reality (AR) technologies for educational purposes. This is driven by the desire for immersive and interactive learning experiences, which allow students to explore and engage with subjects in a more hands-on and dynamic way. Additionally, the COVID-19 pandemic has accelerated the adoption of online learning platforms, making the integration of metaverse education solutions even more appealing to students and educators.

Trends in the market: One of the key trends in the Metaverse Education market in Baltics is the growing demand for virtual classrooms and virtual field trips. Virtual classrooms provide a collaborative and interactive environment where students can engage with their peers and teachers in real-time, regardless of their physical location. This not only enhances the learning experience but also promotes inclusivity and accessibility. Similarly, virtual field trips allow students to explore different locations and historical sites without leaving the classroom, providing a cost-effective and safe alternative to traditional field trips. Another trend in the market is the development of customized metaverse education solutions. Educational institutions in the Baltics are increasingly looking for tailored solutions that align with their specific curriculum and teaching methodologies. This includes the creation of virtual simulations, virtual labs, and virtual reality content that caters to the unique needs of different subjects and age groups. By offering personalized and engaging content, metaverse education providers are able to meet the diverse requirements of the Baltics' education sector.

Local special circumstances: The Baltics have a strong focus on technology and innovation, which creates a favorable environment for the growth of the Metaverse Education market. Countries like Estonia, Latvia, and Lithuania have invested heavily in digital infrastructure and have a high level of digital literacy among their population. This enables the seamless integration of metaverse education solutions into the existing educational ecosystem. Furthermore, the Baltics have a vibrant startup scene and a culture that embraces entrepreneurship, providing opportunities for local edtech companies to develop and scale innovative metaverse education solutions.

Underlying macroeconomic factors: The Metaverse Education market in the Baltics is also influenced by broader macroeconomic factors. The region has been experiencing steady economic growth, which has led to increased investment in education and technology. Governments and educational institutions in the Baltics are recognizing the potential of metaverse education to enhance learning outcomes and are allocating resources to support its development. Additionally, the Baltics have a relatively young population, with a high proportion of students and young professionals. This demographic factor contributes to the demand for innovative and technology-driven educational solutions, including metaverse education. In conclusion, the Metaverse Education market in the Baltics is thriving due to customer preferences for immersive and interactive learning experiences, the adoption of virtual classrooms and virtual field trips, the development of customized solutions, the region's focus on technology and innovation, and favorable macroeconomic factors. This market is expected to continue growing as educational institutions in the Baltics embrace metaverse education as a valuable tool for enhancing learning outcomes and preparing students for the digital future.

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.