Virtual Training and Simulation Market Thrives in North America

San Francisco, California, August 02, 2018: According to a recent market research report by TMR Research, the global market for virtual training and simulation will witness a healthy upward trajectory in the next few years. The report, titled “Virtual Training and Simulation Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” presents a thorough account of the growth prospects of the market from 2017 and 2025.

The market is likely to benefit majorly from the increased adoption of virtual training and simulation solutions to train employees in industries such as mining, oil and gas, healthcare, and education. The market also benefits from the rising number of companies in the market and the easy availability of advanced product varieties.

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Geographically, the market for virtual training and simulation in North America is presently the leading contributor of revenue to the global market and is likely to exhibit an impressive growth pace over the report’s forecast period as well. The region continues to be one of the key investors in the defense and aviation sectors and has remained at the front when it comes to the adoption of new technologies in these industries. The market in Asia Pacific is likely to benefit from the thriving e-learning industry and is expected to account for a notable share in the global market over the forecast period.

The vendor landscape of the global virtual training and simulation market has become increasingly competitive in the past few years owing to the steady influx of new players and the easy availability of a variety of products with nearly the same features. Spurt of several small and medium scale companies in promising regional markets has also resulted in an increased level of competition in the market.

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Some of the leading companies operating in the global virtual training and simulation market are Cubic Corporation, QinetiQ Group plc., L-3 Link Simulation & Training, ANSYS, Inc., SAAB Training USA LLC, BAE Systems, and Lockheed Martin.

Virtual Training and Simulation Market Future Growth Prospects by 2025

Global Virtual Training and Simulation Market: Snapshot

The use of virtual training and simulation is gaining increased attention in a number of application areas, one of the notable being training autonomous drones, robots, or gadgets that move on their own. Testing or training drones, robots, and other self-navigating devices in a virtual scenario is gaining increased popularity from manufacturers and researchers owing to the vastly affordable nature of simulated training. Manual testing or training of these devices is either impossible due to several regulatory restrictions, highly expensive when possible, and extremely resource-intensive.

As such devices become common in the present-day, highly digitized world, ways of making their operations accurate are always sought. One of the key areas of training self-navigating devices is to program these device to distinguish between things like solid objects and shadows and dark-colored walls. Training devices in these areas with the help of simulation software or in virtual settings could help researchers avoid some very expensive failures.

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The increased realization of this promising area of application has compelled many companies to come up with virtual training and simulation software specifically suiting self-navigating devices. Recently, Microsoft introduced a beta version of an advanced virtual reality program for autonomous drones and other varieties of self-navigating devices.

The program could help self-navigating devices to learn to be more comfortable and accurate while navigating through real-world situations, without actually risking real world objects while learning to do so. Looking at the large number of self-navigating devices being put to use in industries and the public sector, this area of application could open up vast growth opportunities for players in the virtual training and simulation market in the near future.

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Global Virtual Training and Simulation Market: Overview

Virtual training and simulation products are finding an increasing number of applications across a number of industries and the market is expected to expand at a promising pace over the period between 2017 and 2025. The increased use for simulating real-life environments/situations in industries such as defense and aviation, mining, and oil and gas for training employees to deal with potentially risky or complex situations that may occur in real world is boosting the demand for virtual training and simulation products and solutions.

This report on the global virtual training and simulation market presents a thorough overview of the present growth dynamics and the future growth prospects of the market over the period between 2017 and 2025. The report includes a detailed analytical overview of factors expected to impact the potential growth prospects of the market over the said period, including  such as drivers, restraints, trends, opportunities, and regulatory scenario across key regional markets.

The report presents vast qualitative and quantitative insights regarding the growth potential of the various segments of the market on global, regional, and country levels. A market attractiveness analysis of the segments covered in the report across all the key regional markets examined is provided in the report.

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Global Virtual Training and Simulation Market: Segmentation

The report segments the global virtual training and simulation market on the basis of criteria such as component, end-use industry, and geography.

The key components of a virtual training and simulation solution are hardware and software. Of these, the hardware segment accounts for a dominant share in the revenue of the global market and is expected to lead with a sizeable margin over the report’s forecast period as well. The high cost of devices supporting virtual reality and increased adoption across industries such as education, healthcare, and aviation primarily contribute to the excellent future growth prospects of the segment.

The key industries using virtual training and simulation solutions include education, healthcare, medical science, defense and aviation, mining, gaming, oil and gas, and transportation. Of these, the education sector is expected to emerge as the leading contributor of revenue to the global market. The continuously rising number of online courses and the increasing number of enrollments across developed as well as developing economies have significantly contributed to the rising demand for virtual training and simulation solutions in the industry.  The defense and aviation sectors will also lead to an impressive demand for a variety of virtual training and simulation solutions in the next few years. 

Global Virtual Training and Simulation Market: Geographical and Competitive Landscape

From a geographical perspective, the report examines the market for virtual training and simulation across regions such as Asia Pacific, North America, Europe, and Middle East and Africa. Of these, North America is presently the leading contributor of revenue to the global market and is expected to exhibit growth at an impressive growth over the next few years as well. Increasing use in the defense and aviation sectors will fuel the demand for virtual training and simulation products in the region. Asia Pacific, with its thriving e-learning industry, will also emerge as a leading market for virtual training and simulation solutions over the report’s forecast period.

The report also presents detailed business profiles of some of the key companies contributing to the overall development of the virtual training and simulation market. Some of the market’s leading  vendors profiled in the report are Kratos Defense & Security Solutions, Inc., Cubic Corporation., L-3 Link Simulation & Training, QinetiQ Group plc., BAE Systems, SAAB Training USA LLC, ANSYS, Inc., and Lockheed Martin.

Virtual Training and Simulation Receives Steady Funding

San Francisco, California, May 10, 2017: TMR Research announces a new report on the global virtual training and simulation market. The report presents a thorough study of the market’s historical growth trajectory and present condition, and further delivers reliable predictions regarding the market’s growth in the coming years. The geographical breakdown and competitive dynamics of the global virtual training and simulation market are also examined in the report, titled ‘Virtual Training and Simulation Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.’

The global virtual training and simulation market is a relatively modern conception, with the steady research into virtual reality in recent years driving investment into the development of virtual training and simulation devices. These devices are used primarily in situations where the training situation is too difficult to recreate for training purposes. The armed forces, the healthcare sector, and the oil and gas industry are some of the leading consumers in the virtual training and simulation market and are likely to ensure steady growth of the market in the coming years due to the steady availability of funding for quality improvement in these sectors.

By component, the global virtual training and simulation market is segmented into hardware and software. Of these, hardware is likely to account for a dominant share in the global virtual training and simulation market in the coming years. The technology supporting virtual training and simulation is one of the most intensely researched technologies of our time, and steady progression is expected in the same in the coming years. This could lower the prices of virtual training and simulation devices, boosting the adoption of the technology.

The rising emphasis on the armed forces in several nations across the world is likely to remain a key driver for the global virtual training and simulation market. The booming aviation sector also bodes well for the virtual training and simulation market, as the adoption of virtual training programs for pilots is on the rise in the aviation industry. The rising focus on passenger safety is likely to make this a crucial driver for the global virtual training and simulation market in the coming years.

Regionally, North America is likely to remain the key contributor to the global virtual training and simulation market in the coming years due to the easy availability of an advanced technological framework to improve and fully utilize virtual training and simulation technology. Asia Pacific is also likely to play a key role in the development of the virtual training and simulation market due to the rising demand for e-learning solutions as well as the steady investment in the healthcare sector in the region, which could lead to the adoption of virtual training and simulation technology on a wider scale in the coming years.

The report also presents an assessment of the global virtual training and simulation market’s competitive landscape. The report profiles several leading players in the global virtual training and simulation market, including BAE Systems, L-3 Link Simulation and Training, Lockheed Martin, Kratos Defense & Security Solutions inc., ANSYS Inc., and Cubic Corporation.