Metaverse Education - Taiwan | Statista Market Forecast

The projected value of the Metaverse Education market in 2024 is estimated to reach US$16.9m.
It is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 48.48%, resulting in a projected market volume of US$181.3m by 2030.
In Taiwan, the projected market volume in 2024 is US$1.0bn, making it the primary generator of value in the Metaverse Education market.
By 2030, the number of users in the Metaverse Education market is expected to reach 790.7k users.
The user penetration rate is anticipated to be 0.9% in 2024 and is projected to rise to 3.3% by 2030.
The average value per user (ARPU) is expected to be US$80.2.
Taiwan is at the forefront of Metaverse Education, with its innovative virtual reality platforms transforming learning experiences for 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 Taiwan is experiencing significant growth and development due to several key factors.

Customer preferences: In Taiwan, there is a strong demand for innovative and immersive educational experiences. Taiwanese consumers are increasingly looking for new and engaging ways to learn, and the Metaverse Education market provides a unique solution. The ability to explore virtual worlds, interact with virtual objects, and collaborate with others in a virtual environment appeals to the tech-savvy population in Taiwan.

Trends in the market: One of the key trends in the Metaverse Education market in Taiwan is the adoption of virtual reality (VR) and augmented reality (AR) technologies in educational settings. Virtual reality headsets and augmented reality applications are being used to create immersive learning experiences, allowing students to visualize complex concepts and interact with virtual objects. This trend is driven by the increasing availability and affordability of VR and AR devices in Taiwan. Another trend in the market is the rise of gamification in education. Gamification involves incorporating game elements, such as competition and rewards, into educational activities. In the Metaverse Education market, gamification is used to motivate students and make learning more enjoyable. This trend is fueled by the recognition that gamified learning experiences can improve student engagement and retention.

Local special circumstances: Taiwan has a well-developed technology sector and a strong focus on innovation. The government has been actively supporting the development of the Metaverse Education market through various initiatives and funding programs. This has created a favorable environment for startups and companies in the industry to thrive. Additionally, Taiwan has a highly educated population with a strong emphasis on education. There is a high demand for quality education and a willingness to invest in innovative learning solutions. This provides a fertile ground for the growth of the Metaverse Education market.

Underlying macroeconomic factors: Taiwan has a robust economy and a high level of digital literacy. The country has a strong technology infrastructure and a high internet penetration rate, which provides a solid foundation for the adoption of Metaverse Education solutions. Furthermore, the COVID-19 pandemic has accelerated the shift towards online and remote learning, creating new opportunities for the Metaverse Education market to flourish. In conclusion, the Metaverse Education market in Taiwan is experiencing significant growth and development due to customer preferences for innovative and immersive educational experiences, the adoption of VR and AR technologies, the rise of gamification in education, local special circumstances such as government support and a highly educated population, and underlying macroeconomic factors such as a strong economy and high digital literacy.

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.