Vantage Market Research
Jul 21, 2022
In terms of revenue, the Global Edutainment Market is expected to reach USD 3,441.1 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 15.60% from 2022 to 2028.
The untapped population and implementation of augmented reality, virtual reality (AR/VR), and technological advancement are the drivers expected to drive the market in the coming years.
Key Highlights from Report:
- The Hybrid Combination sub-segment is projected to showcase a higher market share in the coming future. Demand is increasing for Hybrid Combination Edutainment as it can provide an immersive experience to youngsters. The Hybrid Combination gaming type is gaining traction due to the shift from the conventional teacher-centered education model to a more immersive, experiential, and entertaining one. As per gaming type, the Explorative sub-segment is projected to account for the leading share in the global demand for the Edutainment Market during the forecast period. However, the Hybrid Combination sub-segment is estimated to grow broadly.
- Based on Visitor Demographics, Children from the age (0-12) sub-segment are estimated to see high growth during the forecast period. Most preschool and kindergarten providers have realized that open-ended play in the right environment helps children develop and learn emotionally, cognitively, and socially.
- Asia Pacific is expected to lead the market, followed by Europe in 2021. Finally, South Asia & Pacific is anticipated to emerge as the fastest-growing region between 2022 & 2028.
The number of Edutainment facilities around the sector are growing at a mild tempo regardless of the quick upward thrust in the worldwide population. Family Enjoyment Facilities (FECs) are predominantly found in Tier-I and Tier-II towns in growing and evolved countries. The ability to spend on enjoyment is better in Tier I towns compared to Tier II and Tier III towns. There exists scope for the established order of Edutainment facilities in untapped markets in Tier-II and Tier-III towns at decreased prices. Several recreation builders specialize in inventing numerous technologies to enhance gaming reports in Edutainment facilities. This is using the web gaming Edutainment Market. They try and create new technologically superior video games by combining AR/VR generation with 3-d projection mapping and interactive virtual surfaces. Enhanced consumer revel in 3-d surroundings boosts engagement and simplifies mastering procedures. The recent boom in manufacturing VR controllers, headsets, and gaming gadgets is augmenting the market.
Technology has touched nearly every zone in an economic system to take traditional techniques to a more recent and revolutionary level. Education is likewise one such zone that has broadly benefited from the creation of the era in the manner it's far being added to distinctive components of the world. The growing penetration of net offerings and technological development inside the training zone is a broadly attracting investment. Also, the improvement of interactive and clever training throughout the instructional institutes is using the boom in the market.
North America is the largest region in the market. The availability of the widest variety of advanced tools and favorable audiences are accelerating the growth of the Edutainment Market in the coming years. In addition, the improved funding initiated by various organizations is likely to bolster the adoption of the Edutainment Market. Moreover, the adoption of cloud computing technology for academic study purposes is anticipated to witness various growth opportunities for the Edutainment Market in this region during the forecast period.