The significant factors boosting the demand of the Global Virtual Classroom market include increasing acceptance of Augmented reality (AR), Virtual reality (VR) and Internet of Things (IoT) in corporate to training & development and the paradigm shift from the traditional classroom to the virtual classroom system in the education sector, especially in the developed economies. The growing demand for connected devices to increase mobility and flexibility in the education sector, coupled with the rising trend of personalized learning will accelerate the demand for the Global Virtual Classroom market over the coming years.
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Based on the Component, the Global Virtual Classroom market is segmented into Solution, Hardware, and Services. The Hardware segment is expected to grow at a higher CAGR during the forecast period owing to the introduction of technological advanced VR devices and interactive whiteboards in the virtual classroom systems to enhance the learning experience among end-users. Moreover, high penetration of computing devices in K-12 institutions and the growing trends of Bring Your Own Device (BYOD) in the education sector will aid the demand of the market over the coming years.
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Based on the End-Users, the Global Virtual Classroom market is segmented into Academic and Corporate. The Academic segment is expected to grow at a higher CAGR during the forecast period owing to the growing deployment of virtual classroom systems in numerous institutions to provide education in remote locations. The virtual classrooms possess peer to peer learning and learner centered instruction which encourages the end-users to adopt these systems for a better experience.
Based on Deployment Type, the Global Virtual Classroom market is segmented into On-Cloud and On-Premises. The On-Cloud segment is anticipated to lead the market during the forecast period due to its remarkable advantages offered to the end-users, including improved security level, cost-effective, easy accessibility, customization option, automatic upgradation of content, and higher scalability. Cloud-based solutions for training and development are getting traction in enterprises and education sectors because of its lower cost as compared to the on premises-based solutions.
Based on the region, North America is anticipated to lead the market during the forecast period owing to the high adoption of virtual classroom systems across the education sector and start-ups. The fundamental shift from the old teaching method to cutting edge virtual classrooms is attracting a large number of schools and universities towards the adoption of these systems across the region. Europe is also the major market for the virtual classrooms and is expected to witness a relatively slower growth rate than North America. Asia-Pacific is expected to grow at the fastest CAGR of 19.5% during 2019-2025 due to the rising government’s initiatives to provide education in remote and less developed areas, which in turn, is promoting the usage of virtual classroom systems across the Asian countries.
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The Global Virtual Classroom market has been segmented based on deployment type, component, end user, and key geographies. Based on the deployment type, the Global Virtual Classroom market has been segmented into on-cloud and on-premises. Based on component, the Global Virtual Classroom market has been segmented into solution, hardware, and services. Based on the End-Users, the Global Virtual Classroom market has been segmented into academic and corporate.
Various notable players operating in the market include Microsoft Corporation, Google LLC, Oracle Corporation, Cisco Systems, WizIQ Inc, Samsung Electronics, Saba Software Inc., Dell Technologies, Blackboard Inc., IBM Corporation, among others.
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