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The Rising Potential of Virtual Reality in Education and Training

Discover the growing impact of virtual reality (VR) in education and training, with high retention rates and increased engagement. Explore its potential applications and benefits in various industries.

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The Rising Potential of Virtual Reality in Education and Training

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  1. The retention level a year after a VR training session can be as much as 80%, compared to 20% retention after a week with traditional training. Source: Fortune Magazine

  2. VR will be bigger than TV within the next decade. The VR market will generate $110 billion dollars compared to TVs $99 billion in 10 years. Source: Goldman Sachs

  3. Worldwide revenues for the augmented reality and virtual reality (AR/VR) market are forecasted to reach $13.9 billion in 2017. Source: International Data Corporation (IDC)

  4. AR/VR spending is expected to accelerate over the next several years, achieving a compound annual growth rate (CAGR) of 198.0% over the 2015-2020 forecast period and totaling $143.3 billion in 2020. Source: International Data Corporation (IDC)

  5. 2.5 million virtual and augmented reality devices are expected to be sold this year, rising to over 24 million device sales in 2018. Source: CCS Insight

  6. Over 2.5 million people now subscribe to the YouTube 360˚ channel. Source: YouTube

  7. PlayStation VR has sold more than 1 million units. PSVR owners have purchased 5.25 million VR games to date. Source: Sony Interactive Entertainment

  8. AR/VR Dealmakers invested over $800 million dollars in Q2 2017. This rounded out over $2 billion invested across 27 AR/VR sectors in the last 12 months. Source: Digi-Capital

  9. Mobile AR could become the primary driver of a $108 billion VR/AR market by 2021. Source: Digi-Capital

  10. 93% of K-12 teachers said they would be excited to use Virtual Reality in the classroom. Source: Samsung

  11. Almost 80% of teachers K-12 have access to Virtual Reality equipment of some kind, yet only 6.87% are currently utilizing it. Source: State of Technology in Education Report 2016

  12. By the end of 2017, Walmart plans to provide VR instruction in every one of its 200 U.S. “Walmart Academy” training centers, making Virtual Reality an integral part of training 140,000 Walmart employees annually. Source: Business Insider

  13. By putting smart safety glasses on both its junior and senior technicians, Lee Company is able to develop the next generation of skilled workers while also employing the current generation beyond its physical limitations. Source: BrainXchange

  14. 65% of children entering primary school today will ultimately end up working in completely new job types that don’t yet exist. Source: WEF Future of Jobs report

  15. “Ageing countries won’t just need lifelong learning—they will need wholesale reskilling of existing workforces throughout their lifecycle. Governments and businesses have many opportunities to collaborate more to ensure that individuals have the time, motivation and means to seek retraining opportunities.” Source: WEF Future of Jobs report

  16. “Workers of the future will learn to deeply cultivate and exploit creativity, collaborative activity, abstract and systems thinking, complex communication, and the ability to thrive in diverse environments… alongside AI.” Source: PewInternet.org

  17. Active learning—repetitively performing a technique or applying information—can increase retention to 75 percent. Having the opportunity to practice and make mistakes can increase retention to 90 percent. Source: National Training Laboratories

  18. VR is viewed as a safe, convenient and accessible way for patients to quickly achieve behavioral changes, increase physical activity and restore functions. Source: Marlin Finance

  19. Some of the VRT applications now being used with patients include: Cognitive rehabilitation Pain management Trauma and phobias Physical therapy Medical training Source: Marlin Finance

  20. California recently opened a VR learning center for medical students where they can use an Oculus DK2 to travel inside the human body instead of just reading about red blood cells. Source: Scientific Animations

  21. Ford Motor Company uses VR to design cars before it makes a physical prototype. Source: DesignBoom.com

  22. Gap's AR Dressing Room app uses AR lets shoppers "try on clothes" before they step foot into a store. Source: Engadget

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