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.