The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Edutainment Market Size. The growth sectors of the Edutainment Market Size are identified with precision for a better growth perspective.
The global edutainment market is considering expanding and raising its worth by USD 10.11 billion until the year 2025. As the economy has started to mend after long terms impact of COVID-19, Market Research Future from its high-level examination reveals that the market’s rate of growth can be 11.61% during the forecast period 2018–2025
Technology has reached almost every sector in an economy to take conventional methods to a newer level. Education is also one sector that has widely benefited from the introduction of technology in different parts of the world. The intensifying penetration of internet services and technological advancement in the education sector is a widely attracting investment, as per market reports. The companies enduring technology have begun to co-operate with the education institutes to integrate advance technologies such as augmented reality and virtual reality to provide engagement-based learning. Also, the development of interactive and smart classes across the educational institutes is driving the growth in the edutainment market.
Other factors such as innovation in the games along with necessitating of physical activity in today’s lifestyle, as well as extensive increasing investments by established players, are being essential factors fuelling the growth of the edutainment market. With this, notable benefits of edutainment have been logged onto the books of many investors. Media and entertainment companies are progressively capitalizing on edutainment as their next business venture.
In the case of point, Disneyland, an American amusement park, owned by the Walt Disney Company, indulges in offering a complete vacation package for the entire family. The fairy tale themed park is a portmanteau of education and entertainment, which waters the plant of knowledge through the approach of entertainment. The company has also associated with various theme and amusements park to mix knowledge with entertainment. With methodologies like this, the edutainment market is expected to witness rewarding growth over the assessment period.
On the contrary, the factors such as scepticism about the educational value of edutainment as well as lack of recognition granted to traditional educational systems are to create hindrance to the market’s growth over the assessment period.
On a global scale, the global edutainment market is further studied over the segments such as service type, revenue source and end-user.
In terms of end-user type, the market has included individuals, schools and universities.
In terms of revenue source type, the market has included advertising, ticket fees and partnership.
In terms of the service type segment, the market has included non-interactive/spectator service and interactive/participatory service.
In the region of North America, the edutainment has a substantial existence. This region is liable for many games and shows which are created particularly for their educational value.
In the region of Europe, embracing the concept of edutainment altogether has is an excellent market including all types of edutainment services with fruitful collaborations with public and private schools as well as numerous universities.
In the region of Asia-Pacific, there is the largest market for edutainment with the highest number of smart device users and a substantial pre-adult population. The factors driving the market for the region are the incidence of numerous edutainment companies and robust educational competition. These factors are further aiding in the growth of the market.
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