AR/VR and the Transformation of E-Learning (Riyadh Valley Company)

Summary

• The global AR and VR education market is expected to reach $372.7 billion in 2032.p.3
• According to PwC, AR and VR could deliver a boost of £1.4 trillion to the global economy by 2030.p.3
• Markets and Markets expects the VR market in education to grow from $6.1 billion in 2020 to $20.9 billion by 2025, a CAGR of 27.9%.p.7
• The Saudi Arabian AR and VR market is expected to grow at a CAGR of 24.8% between 2022 and 2028.p.9
• The Lamsa app, a Riyadh Valley Company indirect investment, charges a monthly subscription of $14.99 and an annual subscription of $180.p.10

Key insights

1. AR and VR are expected to benefit all industries through more efficient processes, better training and new ways to collaborate.p.3
2. The Saudi Ministry of Education began applying AR technology in its schools in September 2018.p.10
3. Thumbay Group announced in 2022 the opening of the world's first metaverse hospital in the UAE.p.8
4. High costs and the need for specialised content development are the main challenges to adopting AR and VR in education.p.6
5. AR/VR adoption is widespread in the US and China but still relatively new in the GCC region, where it is expected to grow quickly.p.12
6. Lamsa was founded in 2011 in Abu Dhabi and is an indirect investment of Riyadh Valley Company through the Oryx fund.p.10