Virtual Classroom Market Expected to Reach $19.6 billion by 2023 – Report by MarketsandMarkets™

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CHICAGO, Sept. 30, 2019 (GLOBE NEWSWIRE) -- According to a research report “Virtual Classroom Market by Solution (Content Management, Device Management, UCC, Security), Hardware (Mobile Computing Devices, VR Devices), Service (Professional & Managed), Deployment Mode, User Type, and Region - Global Forecast to 2023, published by MarketsandMarkets, the Virtual Classroom Market size is expected to grow from USD 9.3 billion in 2018 to USD 19.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period.

Browse 100 market data Tables and 60 Figures spread through 207 Pages and in-depth TOC on "Virtual Classroom Market - Global Forecast to 2023"

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Among solutions, the Unified Communication and Collaboration (UCC) segment is expected to grow at the highest growth rate during the forecast period. The UCC solution enables virtual classrooms to include members in different regions and time zones. It is common for collaborative teams to span continents, communicating in real-time from their desktops or mobile devices. It offers various opportunities for educators to leverage the benefits of cloud-based platforms and analyse communication patterns for improving the educational experience.

Under hardware, the mobile computing devices segment is expected to hold the largest market size during the forecast period. The evolution of Bring Your Own Device (BYOD) and its implementation have seen steady and impressive growth in the last few years. The high adoption of digital education initiatives and wide acceptance of the BYOD policy among corporates are the main factors driving the growth of the mobile computing devices segment.

Among services, the deployment and integration segment is expected to have the highest market share and projected to grow at the highest CAGR during the forecast period. Deployment and integration services help in reducing the time required for deploying and integrating virtual classroom solutions. These services ensure safety and security of integration of virtual classroom devices with the education ecosystem. Service providers safeguard and confirm the integration and installation of the virtual classroom solutions for quality assurance.

North America is one of the major contributors to the Virtual Classroom Market, due to technological developments. The US and Canada are the top contributing countries to the Virtual Classroom Market in this region. These countries have established economies, which empower them to strongly invest in R&D activities. Moreover, the rapid development of the startup culture and high adoption of technologies in education are expected to fuel the growth of the Virtual Classroom Market in North America. In this region, enterprises are now shifting to virtual learning for better results and convenience of use. Multiple users can simultaneously access learning materials and resources from anywhere and at any time, and this has drastically helped the corporate sector cut down on expenses related to employee training. This reason is one of the major factors that has led corporates to adopt virtual classrooms over old traditional teaching methods. Many academic and corporates have implemented virtual classroom for its modes, such as technology training, distance learning, instructor-led training, and flipped learning and blended learning.

The major vendors covered in the Virtual Classroom Market include Sony (Japan), Samsung Electronics (South Korea), HTC (Taiwan), Google (US), Microsoft (US), Panasonic Corporation (Japan), Hitachi (Japan), Barco (Belgium), LG Electronics (South Korea), Veative Labs (Singapore), Cisco (US), Blackboard (US), Dell (US), IBM (US), Saba Software  (US), Oracle (US), Edvance360  (US), Electa Communications (US), BrainCert (US), SKYPREP (Canada), Impero Software (UK), WizIQ  (India), BigBlueButton (US), Digital Samba  (Spain), and TutorRoom  (Taipei).

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