Global Virtual Classroom Market to reach USD 13.1 billion by 2027

Global Virtual Classroom Market is valued at approximately USD 3.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.5% over the forecast period 2020-2027. The virtual classroom is defined as an electronic learning environment in which users can interact, learn, present, and discuss through utilizing a range of virtual classroom solutions and web-based applications. Also, the virtual classroom allows corporate sector and educational institutions to curb travel time and enhance productivity for interaction among colleagues. Typically, the interactions occur via video conferencing. The most popular tools utilized in virtual classroom are instant messaging tool, online whiteboard for real-time collaboration, breakout rooms, and participation controls. These tools are likely to strengthen the adoption of the virtual classroom software, which, in turn, aiding the growth of the global virtual classroom market. Apart from these factors, the rise in focus towards online education in academic institutions and corporate training, along with the increase in funding on education and e-learning are the few factors responsible for the high CAGR of the market during the forecast period. For instance, in June 2018, VIPKID, a Chinese online education firm, has raised USD 500 million funding for children’s language learning and offers an educational experience to students aged between 4-12 years. Similarly, in 2020, Google launched a partnership with the Central Board of Secondary Education (CBSE) to digitalize classrooms in India. Google also offered a USD 1 million grant for Kaivalya Education Foundation (KEF) via the Global Distance Learning Fund that aimed to support teachers to provide a virtual education to students in the country. Thus, the increased funding by the government and tech giants insists online education market players to develop an online platform that can connect prospective teachers and K-12 students efficiently, which will foster the market growth throughout the world. However, the lack of infrastructure and resource in industries and lack of industry standards, coupled with high cost of AR and VR devices are the few major factors limiting the market growth over the forecast period of 2020-2027.

The regional analysis of the global Virtual Classroom market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the large adoption of virtual classroom in education sector, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in government support or initiatives to provide education in remote areas and the growing inclination towards the implementation of virtual classroom solutions in developing countries, such as China and India, would create lucrative growth prospects for the Virtual Classroom market across the Asia-Pacific region.

Major market player included in this report are:
IBM Corporation
Microsoft Corporation
Oracle Corporation
Cisco System Inc.
Saba Software.
Google (Alphabet Inc.)
Panasonic Corporation
Hitachi, Ltd.
Sony Corporation.
Blackboard Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Solution
Hardware
Services

By Deployment Type:
On-premises
Cloud

By End-User:
Academic Institutions
Corporates

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Virtual Classroom Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors