Virtual Classroom Industry Size Growing at a CAGR of 10 % to 2027
Market Scenario:
virtual classroom in the years ahead is noted as the major cause that can contribute to the rise of the market in the years to come. The surge in demand for effective online learning environment in the pandemic is anticipated to earn high value for the virtual classroom market.
Market Research Future (MRFR) reveals that the global Virtual Classroom Industry 2020 is expected to touch 10 % CAGR across 2017 and 2023. By 2023, the virtual classroom market can value USD 12 Bn. There are multiple causes that are expected to impact the market. However, the unprecedented demand for with the ingression of modern technologies that allows communication between a high number of people, view presentations or videos easily, and better engagement are critical as it is observed to boost customer convenience. In addition, multiple synchronous technologies, such as web conferencing, video conferencing, and web-based Voice over IP (VoIP) along with live streaming solutions are easily available. These benefits add value to virtual classroom solutions, which, in turn, can support the expansion of the virtual classroom market in the years ahead.
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Virtual Classroom Industryfate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Virtual Classroom Industry to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Virtual Classroom Industry is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
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Competitive Outlook:
Skyprep (Canada), SAP SE (Germany), Oracle Corporation (US), BrainCert (US), Docebo (Italy), Brainier (US), Saba Software (US), Edvance360 (US), Bluevolt (US), and Canvas (US) are some reputed companies in the virtual classroom global market that are listed by MRFR.
Segmentation:
The segment analysis of the virtual classroom market is done by type, service, deployment, organization size, and application.
By Type based segment of the virtual classroom market are Combination of Teleconferencing, Teleconferencing, and World Wide Web among others.
The Service based segments of the virtual classroom market are Professional Service, and Managed Service among others. The increased need for professional services can result in the expansion of the market in the years to come.
The Deployment based segment of the virtual classroom market are On-Premise and On- Cloud.
The Application based segment of the virtual classroom market are Government, Enterprise or Business Education, Healthcare, Professional Services, School & College, and IT & Telecommunication among others. The IT sector can earn high revenue for the virtual classroom market.
The Organization Size based segment of the virtual classroom market are Large Organization, and Small and medium enterprises. The rise in the application of virtual classroom by SMEs for trainings can support the expansion of the market across the review period.
Regional Analysis:
In North America, the virtual classroom market is expected to earn high turnover due to the rise in the demand for cutting-edge technology solutions to training across corporate sectors and education sector. The high investment made by different governments to improve virtual classroom solutions is expected to support the expansion of the virtual classroom market in the years ahead. In Europe, the virtual classroom market is likely to register a high CAGR in the analysis period due to increase in the need for online training and education facilities in the pandemic. In Asia Pacific, the virtual classroom market expected to emerge due the availability of excellent digital solutions with high connectivity. The easy access to high-end digital solutions can support the expansion of the virtual classroom market in India and Japan. The existence of a high number of vendors dealing in components for virtual classroom can support the expansion of the regional market across the assessment period. The rise in the number of different educational institutions that are adopting virtual classroom solutions can support the rise of APAC virtual classroom market across the analysis period.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued….
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