World Virtual Training & Simulation Sector to Post 14.6% CAGR to 2022, States KBV Research in Its Study Available at MarketPublishers.com05 Dec 2016 • by Natalie Aster
LONDON – Surging awareness of virtual training and simulation has contributed to the growth of the market. The virtual training and simulation sector is projected to garner USD 329 billion by 2022-end, posting 14.6% CAGR through to 2022.
The technology is employed across different fields like commercial aviation, distance learning, military force, simulation-based serious gaming, entertainment, healthcare, and digital manufacturing make use of the technology to a great extent, owing to its advantages like ease of handling and comprehending, and offers virtual environment as close as the real one, and efficiency of training.
Over the last few years, an upsurge in spending on defense, healthcare, and education was noticeable particularly across APAC, LAMEA, and Europe, and this is set to continue in the offing. With a hike in expenditure, sales of pertinent equipment in healthcare, defense, and education is likely to increase, with virtual training and simulation equipment being no exception.
North America takes the lead in the market, with a big number of manufacturers being engaged in development of this technology. Among the top companies one can name Lockheed Martin Global Training and Logistics, CAE, Inc., SAAB Training USA LLC, among others, who have created a diversity of tools and technologies exploited in numerous fields like military, healthcare, civil aviation, gaming, education, and others.
Cubic Corporation., L-3 Link Simulation & Training, CAE Inc., BAE Systems, ON24, Inc., QinetiQ Group plc, Kratos Defense & Security Solutions, Inc. and ANSYS, Inc. are the leading players in the marketplace.
Topical study “Global Virtual Training and Simulation Market (2016 - 2022)” prepared by KBV Research examines the market on a global level, segmenting it based on components, end user, and geographical area.
The report offers an in-depth assessment of the market dynamics, provides actual market estimates and future forecasts, contains Porter’s five forces analysis, canvasses the competitive scenario of the industry, alongside providing a granular understanding of the forces that impact the market entry and expansion. The study gives an all-round examination of market trends, sub-segments and geographical markets, and major revenue pockets. The research report provides an examination of the top market participants and their business strategies. Furthermore, it includes company profiles of the major players that showcase major developments such as M&As, expansions, and new product launches.
Other topical reports by this publisher can be found at the KBV Research page.