Metaverse Education - Saudi Arabia

The projected value of the Metaverse Education market in Saudi Arabia is expected to reach US$12.3m in 2024.
This market is projected to experience an annual growth rate (CAGR 2024-2030) of 48.87%, resulting in a projected market volume of US$134.1m by 2030.
In 2024, the market is expected to have a volume of US$1.0bn, with the majority of the value generated United States.
In terms of users, the Metaverse Education market in Saudi Arabia is expected to have approximately 930.6k users users by 2030.
The user penetration rate, which measures the proportion of the population using the Metaverse Education market, is projected to be 0.7% in 2024 and is expected to increase to 2.3% by 2030.
Moreover, the average value per user (ARPU) is projected to amount to US$50.1.
Saudi Arabia is witnessing a surge in the adoption of Metaverse Education, with virtual classrooms and interactive learning experiences becoming increasingly popular among students.

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 Saudi Arabia has been experiencing significant growth in recent years. This can be attributed to several factors, including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences in Saudi Arabia have shifted towards more immersive and interactive learning experiences. Students and educators are increasingly looking for innovative ways to engage with educational content, and the metaverse provides a unique platform for this. The ability to explore virtual worlds, interact with virtual objects, and collaborate with other users in real-time has made the metaverse a popular choice for educational purposes.

Trends in the market have also contributed to the development of the Metaverse Education market in Saudi Arabia. The rapid advancements in technology, such as virtual reality (VR) and augmented reality (AR), have made it easier for educational institutions to adopt metaverse-based learning solutions. Additionally, the COVID-19 pandemic has accelerated the adoption of online and remote learning, further driving the demand for metaverse education in Saudi Arabia.

Local special circumstances in Saudi Arabia have played a role in the growth of the Metaverse Education market. The country has a young and tech-savvy population, with a high percentage of internet users. This demographic is more open to embracing new technologies and digital learning platforms.

Additionally, the Saudi government has been actively promoting digital transformation in the education sector, which has created a favorable environment for the development of the metaverse education market. Underlying macroeconomic factors have also contributed to the growth of the Metaverse Education market in Saudi Arabia. The country has a strong economy and high levels of disposable income, which has allowed individuals and educational institutions to invest in metaverse-based learning solutions.

Furthermore, the government's Vision 2030 initiative, which aims to diversify the economy and promote innovation, has provided a supportive framework for the development of the metaverse education market. In conclusion, the Metaverse Education market in Saudi Arabia is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for immersive and interactive learning experiences, advancements in technology, the impact of the COVID-19 pandemic, the young and tech-savvy population, government support, and a strong economy have all contributed to the development of the metaverse education market in Saudi Arabia.

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.