How Metaverse Is Changing the EdTech Market

Artificial intelligence, virtual reality and augmented reality concepts caused great changes in different business areas in a short time. The need to learn and gain experience without being physically in a place is now more than ever. On top of that, when human mobility was further restricted due to the Covid-19 epidemic, most companies began to transform their working model and turn to virtual reality.

However, for some sectors, this 'digital change' was not as easy as it seems. One of these sectors is the education sector. Restrictions and closures during the pandemic have made teaching and learning a challenge for many.

But now, thanks to the developing technology, we have the Metaverse, a world where we can live, learn, work and interact with people in a 3D environment by wearing virtual reality glasses. Educational institutions and Edtech companies, which feel the need to make similar changes in this period when almost all sectors are undergoing radical changes thanks to technology, are trying to integrate education with Metaverse in order to remove the distance and physical barrier to learning, and to make education multidimensional and more interactive.

So how is Metaverse changing education?

The advantages of Metaverse, such as providing a gamified learning experience for students and providing continuous access to study materials, managed to attract the attention of leading executives in the industry.

The Edtech sector is one of the fastest growing sub-sectors of the education field. Edtech market revenues are expected to exceed a stunning $288.4 Billion by the end of 2031, with an average annual growth rate of 14.5%, according to the latest study from Future Market Insights. The most well-known tech companies are investing in the Edtech market to gain early mover advantage and foster learning through Metaverse.

For example, Facebook Reality Labs announced that it will invest $150 million in training companies to integrate Metaverse and provide VR training to people. The company has partnered with Coursera and EdX to deliver an enhanced learning experience using its in-house Spark AR curriculum.

Similarly, Microsoft introduced Microsoft Mesh in 2021. Through the Mesh platform, the company offers Metaverse to educational institutions and Edtech companies, promoting its adoption.

Thanks to these applications, Edtech companies can integrate Metaverse into their existing models and interact with each other through 3D avatars. In addition to its Mesh platform, Microsoft offers two fascinating options to provide students with a faster and more engaging learning experience. Students with Microsoft Hololens smart glasses can become part of the Metaverse. Students who do not have these glasses can instead access the Metaverse through the Grid feature of the Microsoft Teams platform.

Metaverse components that can be used in Edtech

Metaverse is a synthesis of three key components: artificial intelligence, virtual reality and augmented reality.

Virtual reality: Virtual reality, also known as VR, revolutionized the gaming experience years ago. Edtech companies are trying to offer a similar digital experience by integrating virtual reality with gamified learning modules. According to Future Market Insights's gamification report in the education market, companies in the Edtech market will change the learning environment in classrooms, reaching a value of $2 Billion by 2031. VR helps students answer questions by playing games and offers rewards in return. Also, using VR in Metaverse is a boon for students with special needs and students with disabilities. With the help of VR, students with special needs can easily experience real-life experiences (travelling, etc.) that they will have difficulty in or go out of their comfort zone. In addition, the integration of virtual reality into the Metaverse helps students gain confidence in some important life skills.

Augmented reality: The famous mobile game Pokémon Go has actually helped us get a glimpse of how we can successfully integrate augmented reality into our lives. The game has allowed users to stay in the current world while finding the Pokémon within the augmented reality world.

Metaverse companies are trying to apply the same technique to make learning interesting. Students can scan the pages of textbooks using augmented reality to better understand the topics, schools can design interesting magazines that can highlight their in-school activities, and students with hearing and speech disabilities can benefit from the use of augmented reality by viewing technology-focused flashcards.

Artificial intelligence: Artificial intelligence, or AI, not only improves the learning experience, but also reduces the burden on teachers. Students can access questions about the topics they have learned with the help of artificial intelligence. In addition, AI helps to measure and evaluate learning and has the ability to grade students without the help of the teacher.

Metaverse works in integration with artificial intelligence and machine learning. Thus, students can ask questions and collect information whenever they want. Artificial intelligence integrated with Metaverse can understand the questions asked and provide answers for more than one question at the same time.

How does Metaverse simplify complex matters?

The need to learn complex subjects not only through texts and diagrams, but also practically increases our need for technology. So with the help of Metaverse it is possible to learn astrophysics and to study planets and galaxies more closely. The Metaverse has the ability to create periods in history made up of different civilizations and lifestyles. In this way, students can learn about the past simply by wearing virtual reality glasses.

Metaverse will be a part of our lives for a long time and will provide us all with multidimensional learning experiences. If the Metaverse is widely integrated into education, students will be able to have a virtual avatar and go to various periodic times. Companies are working on a system where students can change their avatars to match the environment they are in and the subject they are learning for a more real-time experience.

The future of the Metaverse in education

The Metaverse is in a new phase of its evolution. Edtech companies, on the other hand, work to enhance the learning experience by creating different worlds that help students have a broader idea of ​​what they are learning. Metaverse promises to provide the opportunity for students to create their private worlds where they can share their experiences with other students in the future.

Metaverse keeps this approach simple. By integrating technology into education, it strengthens the traditional learning method and simplifies learning by providing real-time experience.

Metaverse facilitates learning by providing tools that help students learn, understand and apply knowledge easily.

Metaverse does not completely reject the concept of learning in the presence of a teacher. In fact, Metaverse's approach to the teacher is one in which it is the main supporter of learning and education. Therefore, the Metaverse in education encompasses a wide variety of learning types, from being in a virtual world to being physically present in the classroom.

The future of education looks more fascinating and bright than ever thanks to Metaverse integration.