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Virtual Training and Simulation Market by Component (Software and Hardware), End User (Defense and Security, Civil Aviation, Education and Entertainment) - Global Opportunities Analysis and Industry Forecast, 2014 - 2022

IC 161753
Pages: 120
Oct 2016 | 2774 Views
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Author's : Kalyani Sonawane
Tables: 35
Charts: 55
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Virtual Training and Simulation Market Overview:

Virtual Training and Simulation Market is expected to garner $329 billion by 2022, registering a CAGR of 16.8% during the forecast period 2016 - 2022. The Market is a method in which a simulated virtual environment is created to test certain abilities of a trainee that can contribute to the learning process.

It is used in the wide area of applications, including in flight simulation, simulation-based gaming, serious games, healthcare training, energy, transportation training, e-learning, military & navy, digital manufacturing, and others. Virtual training and simulation tools comprise hardware and software. Hardware components include headsets, combat tools, hand gloves, hearing aids, mannequins, gaming consoles, and others, while software components are programs or set of instructions that are used to perform the activities in the system.

Top impacting factors

Virtual Training and Simulation Market Top Winning Factor

Increase in Awareness about Virtual Training and Simulation

Increase in awareness about the technology of virtual training and simulation has positively driven the market growth. This technology is being used in various fields such as civil aviation, military, e-learning, serious gaming, simulation-based gaming, entertainment, digital manufacturing, and healthcare, owing to its advantages including ease handling & understanding, offers a virtual environment as close as real one, and efficiency of training.

Cost-effective solutions for virtual training and simulation technology

Virtual training and simulation technology provides cost-effective solutions for wide range of applications such as pilot training; soldier training; e-learning; simulation-based gaming; and training of nurses, doctors, and other medical professionals. It is rather difficult and costly to buy an aircraft to train pilots, for which virtual training and simulation tools offer perfect solutions in which they create a virtual environment with similar hurdles a pilot may face in the real world.

Increase in Defense, Healthcare, and Education Expenditure

Over the past few years, increase in defense, healthcare, and education expenditure is seen especially in Asia-Pacific, LAMEA, and European countries and is expected to continue during the forecast period. With the increase in expenditure, sales of related equipment in defense, healthcare, and education is projected to increase, including for virtual training and simulation equipment.

Top winning strategies

Virtual Training and Simulation Market Top Winning Strategies

The above pie chart shows the percentage share of adoption of strategies by various players in the virtual training and simulation market. Key players operating in the market use numerous strategies to strengthen their market presence, including partnerships, collaborations, product launches, agreements, and acquisitions. Product launch of novel solutions was the most adopted strategy among the prominent players, widening their product portfolio and increasing their market presence. It intended to provide enhanced features, accounting for 50% of the total strategy adoption, followed by agreements, contributing 18.8% of the total share.

Product Launch

In June 2016, CAE Inc. launched its Airbus A350 CAE 7000XR series full-flight simulator in Brazil specifically to satisfy pilot training needs in Latin America, increasing its customer base and market presence.
In December 2015, CAE Inc. introduced the CAE Blue Phantom Musculoskeletal (MSK)training model for ultrasound-guided evaluation and procedures for knee conditions and injuries. This cost-effective training model is anticipated to increase the customer base for CAE in the healthcare industry.

The world virtual training and simulation market is segmented based on components, end user, and geography. The components segment is further sub-segmented into hardware and software. Based on end users, the market is segmented into defense & security, civil aviation, education, entertainment, and others (digital manufacturing and healthcare). The education segment is further bifurcated into e-learning and game-based learning. Geographically, the virtual training and simulation market is analyzed across four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA.

The key Trends in North America Market are as Follows:

North America virtual training and simulation market

North America is one of the developed and leading regions in the world and is aggressive in technological advancements and its adoption. A large number of manufacturers in North America are active in the development of simulation and virtual training technology. The United States Army Simulation and Training Technology Center (STTC) is a provider of applied research to develop simulation technologies to United States Department of Defense and United States Department of Homeland Security. The Canada First Defence Strategy is an initiative to offer the Canadian Forces (CF) with a program the Operational Training System Provider (OTSP) developed by CAE, Inc., which delivers comprehensive aircrew training services. Major leading companies include CAE, Inc., Lockheed Martin Global Training and Logistics, SAAB Training USA LLC, and others who have developed a variety of tools and technologies applicable in numerous fields such as military, civil aviation, healthcare, education, gaming, and others.

Key Benefits

  • An in-depth analysis of the world virtual training and simulation market is provided along with the market dynamics that would prove crucial in understanding the market.
  • Quantitative analysis of the current market and future estimations from 2014 to 2022 is anticipated to assist to design business strategies to capitalize on the prevailing market opportunities.
  • Porters Five Forces analysis examines the competitive structure of the world virtual training and simulation industry and also provides a clear understanding of the factors that influence the market entry and market expansion.
  • A detailed analysis of geographic segments offers identification of most profitable segments to capitalize on.
  • A comprehensive analysis of market trends, sub-segments, and key revenue pockets is provided.
  • Analysis of the key leaders of the virtual training and simulation industry and their business strategies is projected to assist stakeholders to make more informed business decisions.
  • A detailed company profiles analysis that showcases major developments such as mergers & acquisitions, expansions, and new product launch is provided.

Virtual Training And Simulation Market Key Segments:

By Components

  • Hardware
  • Software

By End User

  • Defense and Security
  • Civil Aviation
  • Education
  • e-Learning
  • Game-Based Learning
  • Entertainment
  • Others (Digital Manufacturing and Healthcare)

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players: Virtual Training and Simulation Market

  • CAE Inc.
  • L-3 Link Simulation & Training
  • Cubic Corporation
  • ON24, Inc.
  • QinetiQ Group plc
  • BAE Systems plc
  • Laerdal Medical Corporation
  • Kratos Defense & Security Solutions, Inc.
  • The DiSTI Corporation
  • ANSYS, Inc.

Companies Mentioned in the Report Include:

The Boeing Company, Geomagic, Inc., SAAB Solutions, Heartwood, Inc., Microsoft Corporation, Oculus Rift, Tata Consultancy Services, Lockheed Martin Global Training and Logistics, VSTEP B.V., Fujitsu Limited, Digital Process Ltd, CTC Aviation Group, TeraLogics, LLC, PULAU Corporation, Lloyds Register (LR) collaborated, Paramount Group, Paramount Group., CoreAVI (Core Avionics & Industrial), Inc., MOBICA, and TE Connectivity (TE).

 

Chapter: 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1 CXO perspective

Chapter: 3 MARKET OVERVIEW

3.1 Market definition and scope
3.2 Key findings

3.2.1 Top impacting factors
3.2.2 Top winning strategies
3.2.3 Top investment pockets

3.3 Porter’s five forces analysis

3.3.1 Moderate bargaining power of buyers due to highly fragmented market and high switching costs
3.3.2 Large number of suppliers and threat of backward & forward integration lead to moderate bargaining power of suppliers
3.3.3 Presence of strong brands and large number of product launches leads to intense rivalry among competitors
3.3.4 Low threat from indirect substitutes
3.3.5 Low threat from new entrants due to high initial investment costs and stiff competition from established brands

3.4 Value chain analysis
3.5 Market share analysis, 2015
3.6 Drivers

3.6.1 Increase in awareness about virtual training and simulation
3.6.2 Cost-effective benefits of virtual training and simulation solutions
3.6.3 Increase in defense, healthcare, and education expenditure

3.7 Restraints

3.7.1 Resistance to adopt the virtual training and simulation technology
3.7.2 Lack of investments in R&D

3.8 Opportunities

3.8.1 Advancements in technology
3.8.2 Scope for improvements in other industries (mining, transportation, and energy)

Chapter: 4 WORLD VIRTUAL TRAINING AND SIMULATION MARKET, BY COMPONENT

4.1 Introduction

4.1.1 Market size and forecast

4.2 Hardware

4.2.1 Key market trends
4.2.2 Key growth factors and opportunities
4.2.3 Market size and forecast

4.3 Software

4.3.1 Key market trends
4.3.2 Key growth factors and opportunities
4.3.3 Market size and forecast

Chapter: 5 WORLD VIRTUAL TRAINING AND SIMULATION MARKET, BY END USER

5.1 Introduction

5.1.1 Market size and forecast

5.2 Defense & Security

5.2.1 Key market trends
5.2.2 Key growth factors and opportunities
5.2.3 Market size and forecast

5.3 Civil Aviation

5.3.1 Key market trends
5.3.2 Key growth factors and opportunities
5.3.3 Market size and forecast

5.4 Education

5.4.1 Market size and forecast
5.4.2 e-Learning

5.4.2.1 Key market trends
5.4.2.2 Key growth factors and opportunities
5.4.2.3 Market size and forecast

5.4.3 Game-based learning

5.4.3.1 Key market trends
5.4.3.2 Key growth factors and opportunities
5.4.3.3 Market size and forecast

5.5 Entertainment

5.5.1 Key market trends
5.5.2 Key growth factors and opportunities
5.5.3 Market size and forecast

5.6 Others (Digital Manufacturing and Healthcare)

5.6.1 Key market trends
5.6.2 Key growth factors and opportunities
5.6.3 Market size and Forecast

Chapter: 6 WORLD VIRTUAL TRAINING AND SIMULATION MARKET, BY GEOGRAPHY

6.1 Introduction

6.1.1 Market size and forecast

6.2 North America

6.2.1 Key market trends
6.2.2 Key growth factors and opportunities
6.2.3 Market size and forecast, by component
6.2.4 Market size and forecast, by end user
6.2.5 Market size and forecast, by country
6.2.6 U.S.

6.2.6.1 Market size and forecast

6.2.7 Canada

6.2.7.1 Market size and forecast

6.2.8 Mexico

6.2.8.1 Market size and forecast

6.3 Europe

6.3.1 Key market trends
6.3.2 Key growth factors and opportunities
6.3.3 Market size and forecast, by component
6.3.4 Market size and forecast, by end user
6.3.5 Market size and forecast, by country
6.3.6 UK

6.3.6.1 Market size and forecast

6.3.7 Germany

6.3.7.1 Market size and forecast

6.3.8 France

6.3.8.1 Market size and forecast

6.3.9 Spain

6.3.9.1 Market size and forecast

6.3.10 Italy

6.3.10.1 Market size and forecast

6.3.11 Rest of Europe

6.3.11.1 Market size and forecast

6.4 Asia-Pacific

6.4.1 Key market trends
6.4.2 Key growth factors and opportunities
6.4.3 Market size and forecast, by component
6.4.4 Market size and forecast, by end user
6.4.5 Market size and forecast, by country
6.4.6 China

6.4.6.1 Market size and forecast

6.4.7 India

6.4.7.1 Market size and forecast

6.4.8 Japan

6.4.8.1 Market size and forecast

6.4.9 Rest of Asia-Pacific

6.4.9.1 Market size and forecast

6.5 LAMEA

6.5.1 Key market trends
6.5.2 Key growth factors and opportunities
6.5.3 Market size and forecast, by component
6.5.4 Market size and forecast, by end user
6.5.5 Market size and forecast, by country
6.5.6 Latin America

6.5.6.1 Market size and forecast

6.5.7 Middle East

6.5.7.1 Market size and forecast

6.5.8 Africa

6.5.8.1 Market size and forecast

Chapter: 7 COMPANY PROFILES

7.1 CAE Inc.

7.1.1 Company overview
7.1.2 Business performance
7.1.3 Key strategic moves & development

7.2 L-3 Link Simulation & Training

7.2.1 Company overview
7.2.2 Key strategic moves & development

7.3 Cubic Corporation

7.3.1 Company overview
7.3.2 Business performance
7.3.3 Key strategic moves & development

7.4 ON24, Inc.

7.4.1 Company overview
7.4.2 Key strategic moves & development

7.5 QinetiQ Group plc

7.5.1 Company overview
7.5.2 Business performance
7.5.3 Key strategic moves & development

7.6 BAE Systems plc

7.6.1 Company overview
7.6.2 Business performance
7.6.3 Key strategic moves & development

7.7 Laerdal Medical Corporation

7.7.1 Company overview
7.7.2 Key strategic moves & development

7.8 Kratos Defense & Security Solutions, Inc.

7.8.1 Company overview
7.8.2 Business performance
7.8.3 Key strategic moves & development

7.9 The DiSTI Corporation

7.9.1 Company overview
7.9.2 Key strategic moves & development

7.10 ANSYS, Inc.

7.10.1 Company overview
7.10.2 Business performance
7.10.3 Key strategic moves & development

List of Figures

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP WINNING STRATEGIES, 2015
FIG. 3 TOP WINNING STRATEGIES, 2014-2016
FIG. 4 TOP INVESTMENT POCKETS
FIG. 5 VALUE CHAIN ANALYSIS OF VIRTUAL TRAINING AND SIMULATION MARKET
FIG. 6 PORTERS FIVE FORCES ANALYSIS OF WORLD VIRTUAL TRAINING AND SIMULATION MARKET
FIG. 7 MARKET SHARE ANALYSIS, 2015
FIG. 8 COMPARATIVE MARKET SHARE ANALYSIS OF VIRTUAL TRAINING AND SIMULATION MARKET BY COMPONENTS, 2014 & 2022 (%)
FIG. 9 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY HARDWARE, 2014 & 2022 (%)
FIG. 10 WORLD VIRTUAL TRAINING AND SIMULATION MARKET REVENUE BY HARDWARE, 2014-2022 ($MILLION)
FIG. 11 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY SOFTWARE, 2014 & 2022 (%)
FIG. 12 WORLD VIRTUAL TRAINING AND SIMULATION MARKET REVENUE BY SOFTWARE, 2014-2022 ($MILLION)
FIG. 13 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014 & 2022 (%)
FIG. 14 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD DEFENCE AND SECURITY VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 15 WORLD DEFENCE AND SECURITY VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 16 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD CIVIL AVIATION VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 17 WORLD CIVIL AVIATION VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 18 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD EDUCATION VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 19 WORLD EDUCATION VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 20 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD E-LEARNING VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 21 WORLD E-LEARNING VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 22 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD GAME-BASED LEARNING VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 23 WORLD GAME-BASED LEARNING VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 24 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD ENTERTAINMNET VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 25 WORLD ENTERTAINMENT TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 26 COMPARATIVE MARKET SHARE ANALYSIS OF OTHERS VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 27 WORLD OTHERS VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 28 COMPARATIVE MARKET SHARE ANALYSIS OF WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014 & 2022 (%)
FIG. 29 COMPARATIVE MARKET SHARE ANALYSIS OF NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014 & 2022 (%)
FIG. 30 NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 31 U.S. VIRTUAL TRAINING AND SIMULATION MARKET, 2014-2022 ($MILLION)
FIG. 32 U.S. VIRTUAL TRAINING AND SIMULATION MARKET, 2014-2022 ($MILLION)
FIG. 33 U.S. VIRTUAL TRAINING AND SIMULATION MARKET, 2014-2022 ($MILLION)
FIG. 34 COMPARATIVE MARKET SHARE ANALYSIS OF EUROPE VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014 & 2022 (%)
FIG. 35 EUROPE VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 36 COMPARATIVE MARKET SHARE ANALYSIS OF ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014 & 2022 (%)
FIG. 37 ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 38 COMPARATIVE MARKET SHARE ANALYSIS OF LAMEA VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014 & 2022 (%)
FIG. 39 LAMEA VIRTUAL TRAINING AND SIMULATION MARKET REVENUE, 2014-2022 ($MILLION)
FIG. 40 REVENUE OF CAE INC.: 2012-2016 ($MILLION)
FIG. 41 REVENUE OF CAE INC. BY GEOGRAPHY: 2016 (%)
FIG. 42 SALES OF CUBIC CORPORATION, 2012-2015 ($MILLION)
FIG. 43 SALES OF CUBIC CORPORATION BY BUSINESS SEGMENTS, 2015 (%)
FIG. 44 SALES OF CUBIC CORPORATION BY GEOGRAPHY, 2015 (%)
FIG. 45 REVENUE OF QINETIQ GROUP PLC, 2013-2016 ($MILLION)
FIG. 46 REVENUE OF QINETIQ GROUP PLC BY CUSTOMERS, 2016 (%)
FIG. 47 REVENUE OF QINETIQ GROUP PLC BY BUSINESS SEGMENTS, 2016 (%)
FIG. 48 REVENUE OF BAE SYSTEMS PLC, 2012-2015 ($MILLION)
FIG. 49 REVENUE OF BAE SYSTEMS PLC BY GEOGRAPHY, 2015 (%)
FIG. 50 REVENUE OF BAE SYSTEMS PLC BY ACTIVITY, 2015 (%)
FIG. 51 REVENUE OF KRATOS DEFENCE & SECURITY SOLUTIONS, INC., 2013-2015 ($MILLION)
FIG. 52 REVENUE OF KRATOS DEFENCE & SECURITY SOLUTIONS, INC. BY PRODUCTS AND SERVICES, 2015 (%)
FIG. 53 REVENUE OF KRATOS DEFENCE & SECURITY SOLUTIONS, INC. BY DOMAIN, 2015 (%)
FIG. 54 REVENUE OF ANSYS, INC., 2013-2015 ($MILLION)
FIG. 55 REVENUE OF ANSYS, INC. BY GEOGRAPHY, 2015 (%)

List of Tables

TABLE 1 WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY COMPONENT, 2014-2022 ($MILLION)
TABLE 2 WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY HARDWARE, 2014-2022 ($MILLION)
TABLE 3 WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY SOFTWARE, 2014-2022 ($MILLION)
TABLE 4 WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014-2022 ($MILLION)
TABLE 5 WORLD DEFENCE AND SECURITY VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 6 WORLD CIVIL AVIATION VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 7 WORLD EDUCATION VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 8 WORLD EDUCATION VIRTUAL TRAINING AND SIMULATION MARKET BY SUB-SEGMENT, 2014-2022 ($MILLION)
TABLE 9 WORLD E-LEARNING VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 10 WORLD GAME-BASED LEARNING VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 11 WORLD ENTERTAINMENT VIRTUAL TRAINING AND SIMULATION MARKET, 2014-2022 ($MILLION)
TABLE 12 WORLD OTHERS (DIGITAL MANUFACTURING AND HEALTHCARE) VIRTUAL TRAINING AND SIMULATION MARKET, 2014-2022 ($MILLION)
TABLE 13 WORLD VIRTUAL TRAINING AND SIMULATION MARKET BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 14 NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET BY COMPONENTS, 2014-2022 ($MILLION)
TABLE 15 NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014-2022 ($MILLION)
TABLE 16 NORTH AMERICA VIRTUAL TRAINING AND SIMULATION MARKET BY COUNTRY, 2014-2022 ($MILLION)
TABLE 17 EUROPE VIRTUAL TRAINING AND SIMULATION MARKET BY COMPONENT, 2014-2022 ($MILLION)
TABLE 18 EUROPE VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014-2022 ($MILLION)
TABLE 19 EUROPE VIRTUAL TRAINING AND SIMULATION MARKET BY COUNTRY, 2014-2022 ($MILLION)
TABLE 20 ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET BY COMPONENT, 2014-2022 ($MILLION)
TABLE 21 ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014-2022 ($MILLION)
TABLE 22 ASIA-PACIFIC VIRTUAL TRAINING AND SIMULATION MARKET BY COUNTRY, 2014-2022 ($MILLION)
TABLE 23 LAMEA VIRTUAL TRAINING AND SIMULATION MARKET BY COMPONENT, 2014-2022 ($MILLION)
TABLE 24 LAMEA VIRTUAL TRAINING AND SIMULATION MARKET BY END USER, 2014-2022 ($MILLION)
TABLE 25 LAMEA VIRTUAL TRAINING AND SIMULATION MARKET BY REGION, 2014-2022 ($MILLION)
TABLE 26 CAE INC.-COMPANY SNAPSHOT
TABLE 27 L-3 LINK SIMULATION & TRAINING-COMPANY SNAPSHOT
TABLE 28 CUBIC CORPORATION-COMPANY SNAPSHOT
TABLE 29 ON24, INC.-COMPANY SNAPSHOT
TABLE 30 QINETIQ GROUP PLC -COMPANY SNAPSHOT
TABLE 31 BAE SYSTEMS PLC-COMPANY SNAPSHOT
TABLE 32 LAERDAL MEDICAL CORPORATION-COMPANY SNAPSHOT
TABLE 33 KRATOS DEFENSE & SECURITY SOLUTIONS, INC.-COMPANY SNAPSHOT
TABLE 34 THE DISTI CORPORATION-COMPANY SNAPSHOT
TABLE 35 ANSYS, INC.-COMPANY SNAPSHOT

 

Virtual training is a methodology in which a simulated virtual environment is created to test the capabilities of a trainee that can contribute to the learning process. It can be of two types: instructor-led training and non-instructor-supported training. Simulation can be defined as an imitation of the operation of a real-world system or process. 

World virtual training and simulation market is on rise and has significant acceptance in most geographic regions. The market is expected to reach $329 billion by 2022, owing to rise in awareness about this technology; cost-effective benefits; and increase in defense, education, and aerospace spending worldwide. 

Simulation technology is applicable in aviation, military, medical science, and navy. In the near future, the awareness and adoption of virtual training and simulation solutions is expected to increase at a significant rate among various end users. Education industry is expected to grow at the fastest CAGR during the forecast period, owing to supportive government initiatives, increased spending on e-learning, and rise in adoption of game-based learning solutions. Further, North America was the dominant region in virtual training and simulation industry and is expected to show prominent growth during the analysis period due to influential presence of large number of technology providers and immediate adoption of virtual training and simulation products. 

Key players in the market adopt various strategies such as product launches, partnership, promotional activities, and strategic alliances to create more awareness about the technology and help enhance its adoption in the world. Moreover, these vendors are anticipated to invest more into R&D to offer more compact and cost-effective solutions for numerous applications to create virtual training environment. In addition, the leading vendors in the market are expected to target industries such as transportation, energy, and mining, where adoption of virtual training and simulation technology is low as compared to other end users.

 

 

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