Edutainment Market 2023-2030: A Comprehensive Assessment of Industry Drivers and Challenges
The global edutainment market, estimated at USD 2,739.4 million in 2021, is projected to experience robust growth at a CAGR of 8.7%. This growth is primarily driven by the increasing adoption of advanced technologies, such as appealing digital surfaces and 3-D animation, to provide a better gaming experience. The introduction of virtual reality technology and enhanced versions in education is expected to propel the market forward. Shipments of virtual and augmented reality headsets are anticipated to reach 43.5 million units by 2025.
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The edutainment market is witnessing a surge in popularity as parents and guardians recognize its benefits for their children's education and physical activity. Edutainment centers are becoming a preferred destination for fostering a secure atmosphere and encouraging active learning methods. As a result, the market is witnessing rising mergers and collaborations among advanced technology providers, leading to the development of edutainment centers using artificial intelligence, mixed reality, and the Internet of Things.
The COVID-19 pandemic had a significant impact on the edutainment market, with disruptions in the supply chain and a shift towards digital learning techniques. However, the need for socialization and engaging learning experiences increased, driving interest in edutainment. The production of advanced equipment faced challenges during the pandemic, affecting the market's growth.
Technology development has played a pivotal role in pushing the education industry to new heights. With the growing number of internet users worldwide, the adaptability of edutainment products has increased. Educational institutions are collaborating with technology companies to incorporate cutting-edge technologies like augmented reality and virtual reality to deliver engagement-based learning.
The edutainment market has a vast untapped population, especially in tier II and III cities, which presents opportunities for growth. By offering reduced pricing and expanding entertainment choices, edutainment centers can tap into these markets.
Despite the market's potential, some challenges hinder growth. A lack of knowledge and training among teachers may restrict the effective implementation of new technologies. Additionally, content portability concerns and device compatibility can pose obstacles to the widespread adoption of augmented reality in education.
The market is segmented based on age groups, with teenagers (13-18) dominating due to the increasing use of game-based learning. Interactive gaming for children is also gaining popularity, fostering a positive attitude towards learning. Asia Pacific is expected to acquire a major market share, driven by the region's expanding smart device users and a large pre-adult population.
Several prominent players contribute to the global edutainment market, including LEGOLAND Discovery Centre, Kidzania, Plabo, KinderCity, CurioCity, Pororo Park, Timmersive, Little Explorer, Mattel Play! Town, ELM Learning, Kidz Holding S.A.L., MentalUP, and EduSys.
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