Metaverse Education - Canada | Statista Market Forecast

In 2024, the projected value in the Metaverse Education market is estimated to reach US$53.0m, with an expected annual growth rate (CAGR 2024-2030) of 48.52%.
This growth is anticipated to result in a projected market volume of US$569.2m by 2030.
It is worth noting that the majority of this value is generated United States, with a projected market volume of US$1.0bn in 2024.
Looking specifically at the number of users in the Metaverse Education market, it is expected to amount to 1.3m users by 2030.
The user penetration rate, which is the percentage of the population using the Metaverse Education market platform, is projected to be 0.9% in 2024 and is anticipated to reach 3.1% by 2030.
Furthermore, the average value per user (ARPU) is expected to be US$155.9.
These figures demonstrate the potential growth and value within the Metaverse Education market, particularly United States.
In Canada, the Metaverse Education market is rapidly expanding with the integration of virtual reality and augmented reality technologies in classrooms.

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 Canada is experiencing significant growth and development.

Customer preferences: In Canada, there is a growing demand for immersive and interactive educational experiences. Students and educators are increasingly seeking innovative ways to enhance learning outcomes and engage with educational content. The Metaverse Education market caters to these preferences by providing virtual environments that allow for hands-on learning, collaboration, and exploration.

Trends in the market: One of the key trends in the Metaverse Education market in Canada is the adoption of virtual reality (VR) and augmented reality (AR) technologies in educational settings. These technologies enable students to experience virtual field trips, conduct virtual experiments, and interact with digital objects in a three-dimensional space. The use of VR and AR in education is gaining traction as it provides a more immersive and engaging learning experience. Another trend in the market is the integration of gamification elements into educational content. Gamification involves the use of game design principles and mechanics in non-game contexts, such as education. This approach makes learning more enjoyable and motivates students to actively participate in their education. The Metaverse Education market in Canada is leveraging gamification techniques to create interactive and game-like experiences that enhance student engagement and knowledge retention.

Local special circumstances: Canada has a strong education system and is known for its commitment to innovation in education. The country has a high literacy rate and a well-established network of educational institutions. This provides a conducive environment for the growth of the Metaverse Education market. Additionally, Canada has a diverse population with different learning needs and preferences. The Metaverse Education market in Canada is able to cater to this diversity by offering a wide range of educational content and experiences.

Underlying macroeconomic factors: The growth of the Metaverse Education market in Canada is also influenced by macroeconomic factors. Canada has a stable economy and a high standard of living, which allows for investment in education and technology. The government of Canada has also recognized the importance of digital technologies in education and has implemented initiatives to promote their adoption. These factors contribute to the favorable economic conditions for the development of the Metaverse Education market in Canada. In conclusion, the Metaverse Education market in Canada is experiencing growth and development due to customer preferences for immersive and interactive educational experiences. The adoption of VR and AR technologies, the integration of gamification elements, and the favorable economic conditions in Canada are driving the expansion of this market.

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.