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Metaverse in Education Market Worth USD 102.57 Billion to 2031 – Detailed Explain | Latest InsightAce Analytic Study

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Pune, March 14, 2023 (GLOBE NEWSWIRE) — The global Metaverse in Education Market is estimated to reach over USD 102.57 billion by 2031, exhibiting a CAGR of 38.42% during the forecast period. 

Metaverse technology has the power to alter how people connect, how people communicate, how people understand different cultures, and how people learn in general. Educational institutions are using the metaverse to build virtual universities or classrooms that let students visit and engage with instructors and classmates in various learning environments based on their choices.

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Additionally, rapid use of virtual technologies in the education sector, expanding acceptance of the metaverse and its tools, and greater investment in Metaverse ed-tech companies are further drivers anticipated to propel market revenue growth throughout the forecast period. Important metaverse-based businesses are also developing cutting-edge platforms to encourage more participatory teaching and learning.

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Furthermore, some of the factors that could impede metaverse in education market growth over the forecast period include worries about steadily increasing ostracism as a result of the widespread use of augmented reality, the high cost of developed metaverse technology and the lack of rising tools in developing and underdeveloped countries, as well as concerns about privacy and safety.

Recent Developments:

  • In March 2022, The health and fitness company GOFA International has released Luca & Friends, a new ground-breaking app that uses AI (artificial intelligence) backed motion capture technology to get kids moving through fun, immersive educational games, to help families, schools, and after-school programmes address this issue in today’s tech-driven world.

List of Prominent Players in the Metaverse in Education Market:

  • Invact Metaversity
  • Tomorrow’s Education
  • Sophia Technologies Ltd. Metaverse Group
  • Shenzhen Meten International Education Co. Ltd.
  • Shenzhen Shengxue Culture Communication Co. Ltd.
  • WU Executive Academy
  • 21K School
  • Luca & Friends
  • Skillful Craftsman Education Technology Ltd.
  • Jiangsu Hibao Tech Software Co. Ltd.
  • Roblox
  • Microsoft
  • The University of Miami
  • The University of Nevada

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Metaverse In Education Market Report Scope:

Report Attribute Specifications
Market size value in 2022 USD 5.60 Bn
Revenue forecast in 2031 USD 102.57 Bn
Growth rate CAGR CAGR of 38.42% from 2023 to 2031
Quantitative units Representation of revenue in US$ Billion, and CAGR from 2023 to 2031
Historic Year 2019 to 2022
Forecast Year 2023-2031
Report coverage The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
Segments covered Component And Application
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Market Dynamics:

Drivers-
The COVID-19 epidemic has expedited the transition to e-learning and the use of technology in teaching and learning. This change is a fundamental component of creating engaging and engaging learning experiences and is anticipated to drive market revenue growth. The adoption of VR and AR technology by instructors worldwide, the rise of interactive virtual education, and rising interest in the metaverse in the education sector are some of the major drivers anticipated to propel market revenue development throughout the forecast period.

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Challenges:
A few significant factors that are anticipated to restrain the expansion of the global metaverse market’s revenue during the forecast period include worries about data security and privacy in these settings, problems with the user identity, difficulties in convincing subscribers to use money transfers there. However, the high cost of metaverse in education and the availability of technical facilities are expected to hamper the market’s overall growth over the coming years.

Regional Trends:
The North America metaverse in the education market is projected to register a major market share. Because more attention is being paid to establishing metaverse platforms, more metaverse platforms are being used to provide virtual college tours. More importantly, firms are investing in creating instructional games for schools and colleges. Many schools and universities, including the University of Miami, utilize the metaverse through their AR and XR programs to offer immersive learning experiences in various fields, including architecture, healthcare, and behavioral research. Another aspect that may contribute to the market’s revenue growth in the region for the projected period is the quick adoption of cryptocurrencies like Bitcoin for college tuition payments. Besides, Asia Pacific had a substantial share of the market. The industry is anticipated to continue rising due to the expanding number of players in the global metaverse in the education Market. Additionally, it is anticipated that during the research period, leading vendors will increase their investments in product capabilities and company expansion.

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Segmentation of Metaverse in Education Market-

By Component

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  • Hardware
  • Software

By Application

  • Learning
  • Skill Development
  • Educational Apps
  • Self-Regulation Skills
  • Cultural Understanding
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

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About Us:

InsighAce Analytic is a specializing in market research and consulting services that helps in building business strategies. Our mission is to provide high quality insights with using data analytics techniques and visualization tools that drives the disruption and innovation in market research industry. Our expertise is in providing syndicated and custom market intelligence reports with in-depth analysis and key market insights in a timely and cost-effective manner.

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Artificial Intelligence

Kazakhstan Government Delegation Visited SUPCON

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HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.

The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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Artificial Intelligence

Huawei Peer-Recognized as a 2024 Gartner® Peer Insights™ Customers’ Choice for Enterprise Wired and Wireless LAN Infrastructure

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SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — On September 24, 2024, Huawei announced that it has been peer-recognized a 2024 Gartner® Peer Insights™ Customers’ Choice in the Voice of the Customer for Enterprise Wired and Wireless LAN Infrastructure thanks to its Xinghe Intelligent Campus offerings. This marks the fifth year in a row that Huawei has received this distinction. Notably, Huawei receives Customers’ Choice distinctions in four of the six customer segments: Midsize Enterprise (50M – 1B USD); Public Sector, Government and Education; Asia/Pacific; and Europe, the Middle East and Africa.

As of June 30, 2024, customers across diverse sectors — including manufacturing, IT services, education, and telecommunication — have reviewed Huawei’s complete Xinghe Intelligent Campus offerings on the Gartner Peer Insights platform. We believe their impressive feedback showed global recognition of Huawei from the industry influence, deployment scales, and mature commercial use perspectives.
“We’re thrilled to be named a Gartner® Peer Insights™ Customers’ Choice for Enterprise Wired and Wireless LAN Infrastructure again,” said Shawn Zhao, President of Huawei’s Campus Network Domain. “Recently, Huawei launched the newly upgraded Xinghe Intelligent Campus that takes wireless, application, and O&M experience to new levels with AI technologies, ultimately accelerating the digital transformation of enterprises.”
Looking ahead, Huawei will further innovate Xinghe Intelligent Campus offerings from wireless, application, and O&M experience upgrade perspectives, helping all industries stride to the future of experience-centric intelligent campus networks.
For more about Gartner® Peer Insights™ Customers’ Choice, visit: https://www.gartner.com/reviews/market/enterprise-wired-wireless-lan-access-infrastructure 
Disclaimer:
Gartner, Voice of the Customer for Enterprise Wired and Wireless LAN Infrastructure, Peer Contributors, 12 September 2024
Gartner, Peer Insights, Magic Quadrant and Customers’ Choice badge are trademarks of Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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Huawei Wen Tong: 6G Needs to Embrace AI for Shaping Future Network

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SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — At the 6G Conference held in Istanbul, on September 24, 2024, Dr. Wen Tong, Huawei Wireless CTO, delivered a keynote speech on 6G standardization and innovation. With the release of the ITU-R 6G vision framework, the 3GPP will start 6G standardization in 2025. “6G is a new generation of mobile technology, not a simple upgrade of 5G, it should bring new value to users,” said Dr. Tong, “6G is a true intergenerational technological disruption. 6G standard, key technologies, and network architecture should be re-defined based on application scenarios and requirements from 2030 to 2040. 6G should not be another way to implement 5G. Instead, 6G should embrace the AI revolution with a quantum leap and generate new values for the consumers. In this way, 3GPP standards can truly realize the 6G vision and create greater value for the entire industry.”

Centered “6G Standardization Direction” and “6G Innovation Driving Force”, Dr. Tong shared important views on the future architecture, terminal development, and key technologies of 6G.
In terms of architecture design, 6G should go beyond Service-Based Architecture and move towards Application-Driven Network.
5G has already achieved market success and continues to evolve towards 5G-Advanced. 6G will not simply reuse 5G network architecture, without generational and fundamental innovations, which will limit the mobile industry’s aspiration and imagination to dive the innovation in the 6G era. 6G must have obvious cross-generational characteristics and technical breakpoint.
On the core side, reusing the 5G core network will hinder the innovation in AI. We should use Agentic-AI based technology to re-architect 6G Core that goes beyond 5G Service-Based Architecture and support the foundational capabilities of AI, Sensing and NTN , and thus evolve towards the Application Driven Network .
In terms of terminal evolution, 6G user device calls for a breakthrough to lead the success of the entire industry chain.
It is the law of the mobile industry to drive the evolution of the market with the pioneering technology. The 6G networks and 6G terminals must meet the requirements of consumers and vertical industries in the 6G market phase from 2030 to 2040.
Currently, smartphones are evolving to AI terminals to usher in the mobile AI era. In post-MBB era, breakthroughs in terminal technologies will be the key to the evolution of the mobile industry. Therefore, 6G user device calls for a breakthrough towards “Full-AI”, thus to drive 6G network upgrade and the success of the entire industry ecosystem.
In terms of technology development, AI will become a key enabler for 6G with network paradigm shifting.
Twenty years ago, the Internet was the enabler of the technology innovations. Mobile communications embraced the Internet and achieved great business success. Today, AI maybe the disruptive enabler of the latest technology innovations.
6G should embrace the AI revolution with a quantum leap. However, 6G networks should not be limited to generative AI, Artificial General Intelligence (AGI) and Embodiment-AI are the main directions of future AI development. Therefore, AGI should run through the whole process of sensing, reasoning, decision, and action of terminals, wireless networks, and core networks of 6G, to welcome the arrival of a new network paradigm.
At the end, Dr. Tong Wen emphasized the relationship between 5G and 6G: “The global 5G deployment is on the rise and evolving to 5G-Advanced, which not only meets the current requirements of operators, but also protects their investment. Therefore, 6G technologies should not overlap with 5G in technologies and market space. The specifications, technologies, and architecture of 6G must be based on the scenarios and requirements from 2030 to 2040. We should focus on true generational technology disruption, embrace the new opportunities brought by AI, expand the mobile industry in the next generation.”
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