upGrad, South Asia’s largest online higher education company, and EyeWay Vision today announced their partnership, enabling upGrad to become the first Indian edtech company with an enhanced AR-driven learning experience. EyeWay Vision Ltd, an Israeli company developing an innovative wearable augmented reality platform, will bring one-of-a-kind immersive augmented reality (AR) to upGrad learners.
The global e-learning market was estimated at US $144 billion in 2019 and is forecast to reach US $374.3 billion by 2026, according to market research firm Facts and Factors. The market for virtual and augmented reality is forecast to reach more than $67 billion globally by 2024, according to AR/VR analyst firm Digi-Capital. upGrad has more than one million learners in more than 50 countries and has recorded an annual revenue run-rate of 165 Million USD for fiscal year 2021.
The Israeli AR pioneer is developing products based on advanced immersive AR technology, enabling new forms of immersive entertainment, digital learning, e-commerce, and other enterprise applications. Both EyeWay Vision & upGrad share a common vision of creating greatly enhanced immersive learning experiences that customers can access anytime and anywhere.
Through this partnership, upGrad will leverage EyeWay’s customized system to explore the development of AR-enhanced learning experiences and online programs. At an advanced stage, EyeWay and upGrad may include university partners to join in a pilot program. This move can make upGrad the first Indian edtech company and one of the very few globally to incorporate mixed reality to enhance the learning experiences of its online learners. EyeWay is currently developing an immersive AR head-worn prototype. This prototype will be used to enable an immersive AR learning experience that will further be developed by upGrad and its content partners.