Virtual Training & Simulation Market size was valued $404.3 billion in 2019, estimated to grow at a CAGR of 8.5% during 2020-2025. The rapid need for the cost-effective training system has enhanced the virtual training and simulation in various industries including defense and healthcare. Moreover, the rising demand for E-learning platforms for fulfilling the need for advanced and skilled employees to enhance productivity has driven the virtual training and simulation industry. Also, further development in the healthcare sectors for the need to train the healthcare practitioners for patient safety will further drive the [FURL=https://www.industryarc.com/Research/Virtual-Training-And-Simulation-Market-Research-502263]Virtual Training And Simulation Market[/FURL] during the forecast period.Key Takeaways
In 2019, the virtual training and simulation market was dominated by North America owing to the rapid adoption of virtual training and simulation in the defense and military sector in order to train soldiers.
Also, the need for computer-based interactive 3D simulations, training drones, self-navigating devices in defense and military sector are set to propel the demand for the virtual training and simulation market.
The rising need to train healthcare practitioners to maintain patient safety due to the rising effect of coronavirus has fueled the virtual training and simulation market.
The integration and advancement in the virtual reality (VR) technology has also led to the rapid rise of virtual reality services which has further deployed the virtual training and simulation software.
The rising risk of technical issue due to the integration of technologies such as AI and VR in the virtual training and simulation will lead to hamper the growth of the market.
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Geography - Segment Analysis
In 2019, North America dominated the Virtual Training & Simulation market with a share of more than 39%, followed by APAC and Europe. In the US, the military sector has widely adopted virtual training and simulation in order to train its soldier in an efficient way with lower cost. As, military sector is highly relying on virtual training and simulation techniques the defense industry in the US is continuously looking forward for the development of this technology. Moreover, the companies which are providing virtual training and simulation techniques to the Department of Defense (DoD) are further enhancing fidelity, and functionality of man-worn virtual training platforms that could meet the customer’s requirement.
Drivers – Virtual Training & Simulation Market
Advancements in the Virtual Reality (VR) Technology
Demand for Customized Training Solutions
Virtual Training And Simulation top 10 companies are Ansys Inc., Bae System Plc., CAE Inc., Cubic Corporation, Kratos Defense Security Solutions Inc., L-3 Link Simulation Training, Laerdral Medical Corporation, On24 Inc., Qinetiq Group Plc. and The Disti Corporation.
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