Metaverse Education - EU-27 | Statista Market Forecast

The Metaverse Education market is projected to reach a value of US$398.8m in 2024, with an expected annual growth rate (CAGR 2024-2030) of 48.44%.
This growth is anticipated to result in a market volume of US$4.3bn by 2030.
In 2024, United States is expected to generate the most value in the Metaverse Education market, with a projected market volume of US$1.0bn.
By 2030, the number of users in the Metaverse Education market is expected to reach 11.2m users.
The user penetration rate, which is currently at 0.7% in 2024, is projected to increase to 2.7% by 2030.
The average value per user (ARPU) is expected to amount to US$133.2.
It is important to note that these projections and figures are specific to the EU-27 region.
In EU-27, the demand for Metaverse Education is steadily increasing, with countries like Germany and France leading the way in implementing virtual learning platforms.

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 EU-27 is experiencing significant growth and development. Customer preferences for immersive and interactive learning experiences, coupled with advancements in technology, are driving the expansion of this market.

Customer preferences: In recent years, there has been a growing demand for innovative educational solutions that go beyond traditional classroom settings. Students and educators are increasingly seeking immersive and interactive learning experiences that can enhance engagement and knowledge retention. The Metaverse Education market in EU-27 is meeting this demand by offering virtual reality (VR) and augmented reality (AR) applications that allow users to explore virtual environments, interact with digital objects, and collaborate with others in real-time. These immersive experiences provide a more engaging and personalized approach to education, catering to the individual needs and learning styles of students.

Trends in the market: One of the key trends in the Metaverse Education market in EU-27 is the integration of VR and AR technologies into existing educational platforms and curricula. Educational institutions are incorporating virtual reality headsets and augmented reality applications into their teaching methods, enabling students to visualize complex concepts and interact with virtual objects. This trend is particularly prevalent in STEM (science, technology, engineering, and mathematics) education, where students can perform virtual experiments, explore simulations, and solve problems in a more hands-on and practical manner. Another trend in the market is the emergence of virtual classrooms and online learning platforms that leverage the capabilities of the metaverse. These platforms provide a virtual space where students and teachers can interact and collaborate in real-time, regardless of their physical location. This allows for greater flexibility in terms of scheduling and access to educational resources, making education more accessible to a wider audience. Additionally, virtual classrooms enable educators to create immersive learning experiences that foster engagement and active participation.

Local special circumstances: The Metaverse Education market in EU-27 is influenced by the unique cultural and linguistic diversity of the region. Educational content and applications need to be localized to cater to the specific needs and preferences of different countries within the EU-27. This requires the adaptation of content to different languages, cultural references, and educational standards, ensuring that the learning experiences are relevant and effective.

Underlying macroeconomic factors: The development of the Metaverse Education market in EU-27 is also driven by favorable macroeconomic factors. The region has a strong focus on innovation and technology, with governments and educational institutions investing in digital infrastructure and educational technology. Additionally, the COVID-19 pandemic has accelerated the adoption of online and remote learning solutions, further fueling the growth of the Metaverse Education market. The increased reliance on virtual learning during the pandemic has highlighted the potential benefits of immersive and interactive educational experiences, leading to greater investment and development in this sector.

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.

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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.