Virtual Training and Simulation Market - Global Industry Analysis

Virtual Training and Simulation Market By Component (Hardware and Software), By End User (Defense & Security, Civil Aviation, Education, and Entertainment), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 25-Mar-2022 Category: Semiconductor & Electronics Report Format : PDF Pages: 167 Report Code: ZMR-6982 Status : Published

The global virtual training and simulation market was valued at $270.5 billion in 2021 and is projected to reach $698 billion in 2028. The market is likely to grow with a healthy CAGR of 13.7% during the forecast years.

Description

Virtual Training and Simulation Market Size And Industry Analysis

The global virtual training and simulation market was valued at $270.5 billion in 2021 and is projected to reach $698 billion in 2028. The market is likely to grow with a healthy CAGR of 13.7% during the forecast years. The report emphasizes the growth prospects, opportunities, restraints, and challenges in the market. It covers the geographical and competitive dynamics of the global marketplace.

Virtual Training And Simulation Market: Overview

Virtual training is a learning experience that is improved with the help of the internet and computer both within the educational premises and outside. Most of the time, the training is done online. These activities are undertaken on an online platform with advanced features to handle the audience crowd. Virtual training is quite effective as it considers a wide range of learning methods offered by different learners. Simulation learning is gaining traction among users these days as the e-learning tools, technology, and advanced understanding of how people can learn virtually are improved. Businesses are able to save their finances by offering online training and simultaneously lowering the risk pertaining to on-the-job skill development for complicated tasks.

COVID-19 Impact:

The outbreak of the Covid-19 pandemic has positively impacted the growth trajectory of the global virtual training and simulation market. Government all across the globe announced national lockdowns, which restricted the social and educational gatherings. Educational institutes have started conducting online classes. Businesses have also adopted the online platform to offer virtual training. Such a landscape has significantly increased the demand for online content, corporate learning, online learning management systems, e-learning tools, and others. Therefore, such growing demand will boost the growth of the global market in the coming years.

Global  Virtual Training and Simulation Market

Virtual Training And Simulation Market: Growth Drivers

Advancements in virtual reality technology will drive the growth of the global market.

The demand for virtual reality services has significantly grown to manifolds in recent years due to the developments in technology. The increasing integration of virtual reality technology in virtual training is attracting leaders and learners to adopt virtual training institutes. Furthermore, nowadays, virtual training simulators hold inbuilt human action recognition methods that offer training and an interactive environment to facilitate friendly online sessions. Such a landscape will significantly scale up the demand for virtual training and simulations.

It is widely used in digital manufacturing, e-Learning, transportation training, military & navy, healthcare training, serious games, simulation-based gaming, and inside simulations. Additionally, the growing awareness regarding virtual training and simulation will also boost the growth of the global market. The constant invention in product innovation has significantly improved the performance, capability, and quality of training and simulation solutions. It is a very cost-effective way to offer training to individuals. As a result, organizations and individuals are looking forward to reaping the benefit of either the software, hardware, or the combination of both solutions to provide training to the crew, students, professionals, and other people in different areas in an efficient way with low cost and effort.

Virtual Training And Simulation Market: Restraints

Technical issues are likely to hamper the growth of the global market.

E-Learning environments and platforms are prone to technical issues and errors as these are designed in a way that poses vulnerability to bandwidth, network, and stability glitches. Such issues are obstructions in training sessions for learners, thereby limiting the adoption rate of online platforms. But the growing interest of people and advancements in technology is lowering the tech glitches in a number of ways.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Virtual Training And Simulation Market: Opportunities

Growing demand for customized solutions will offer new opportunities in the global market.

There is a high demand for customized advanced training solutions by the businesses to offer virtual training as per the requirement of the individual organizations. The integration of live human interaction and artificial intelligence with computer-based interactive 3D simulation has significantly led to new developments in the market, thereby thriving the demand all across the globe. The customized solution is highly demanded by different end-users like healthcare, civil, aviation, defense, and others to offer training in a particular way with real-time training modules. Therefore, the growing requirement for an efficient workforce in a distinct end-user sector to tackle the complexities has boosted the requirement for the global virtual training and simulation market.

Virtual Training And Simulation Market: Challenges

Lack of proper infrastructure is a huge challenge in the global market.

There is no proper working infrastructure for virtual training and simulations, which in turn is a huge challenge in the global market. Research and development activities are also not growing at a rapid pace, which in turn is likely to negatively impact the growth of the global market.

Virtual Training And Simulation Market: Segmentation

The global virtual training and simulation market can be segmented into end-user, component, and region.

By end-user, the market can be segmented into entertainment, education, civil, aviation, security, and others.

By component, the market can be segmented into software and hardware.

Recent Developments

  • Kratos, in November 2020, introduced the Kratos Mixed Reality Multi-Position Aircrew Virtual Environment Trainer. It is known to be the latest immersive technology and comprises a mixed reality MP-AVET along with a mixed reality Ground Party Simulator (GPS).
  • CAE healthcare in March 2020 revealed its offering associated with webinars and a downloadable scenario for personal safety and patient assessment pertaining to the coronavirus.

Virtual Training And Simulation Market: Regional Landscape

Asia Pacific region to hold the biggest market share in coming period

Asia Pacific accounts for the largest share in the global virtual training and simulation market due to the fast proliferation of end-user sectors like educational, healthcare, and defense. Additionally, the growing investment by both the government and the private organizations to develop the global market is further likely to contribute towards the regional market growth.

North America is also likely to grow fast in the global market due to the increasing inclination of people towards online training and virtual sessions.

Virtual Training And Simulation Market: Competitive Landscape

Some of the significant players in the global virtual training and simulation market include The Disti Corporation, Qinetiq Group Plc., On24 Inc., Laerdal Medical Corporation, L-3 Link Simulation Training, Kratos Defense Security Solutions Inc., Cubic Corporation, CAE Inc., Bae System Plc., and Ansys Inc.

Global virtual training and simulation market is segmented as follows:

By Component

  • Hardware
  • Software

By End User

  • Defense & Security
  • Civil Aviation
  • Education
  • E-Learning
  • Game-based learning
  • Entertainment

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Virtual Training and Simulation Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Virtual Training and Simulation Market : snapshot
  • Chapter 3. Global Virtual Training and Simulation Market - Industry Analysis
    • 3.1 Virtual Training and Simulation Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Advancements in virtual reality technology will drive the growth of the global market
    • 3.3 Market Restraints
      • 3.3.1. Technical issues are likely to hamper the growth of the global market
    • 3.4 Market Opportunities
      • 3.4.1. Growing demand for customized solutions will offer new opportunities in the global market
    • 3.5 Market Challenges
      • 3.5.1. Lack of proper infrastructure is a huge challenge in the global market
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Component
      • 3.7.2 Market attractiveness analysis By End User
  • Chapter 4. Global Virtual Training and Simulation Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Virtual Training and Simulation Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Virtual Training and Simulation Market - Component Analysis
    • 5.1 Global Virtual Training and Simulation Market overview: By Component
      • 5.1.1 Global Virtual Training and Simulation Market share, By Component, 2021 and 2028
    • 5.2 Hardware
      • 5.2.1 Global Virtual Training and Simulation Market by Hardware, 2022 - 2028 (USD Billion)
    • 5.3 Software
      • 5.3.1 Global Virtual Training and Simulation Market by Software, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Virtual Training and Simulation Market - End User Analysis
    • 6.1 Global Virtual Training and Simulation Market overview: By End User
      • 6.1.1 Global Virtual Training and Simulation Market share, By End User, 2021 and 2028
    • 6.2 Defense & Security
      • 6.2.1 Global Virtual Training and Simulation Market by Defense & Security, 2022 - 2028 (USD Billion)
    • 6.3 Civil Aviation
      • 6.3.1 Global Virtual Training and Simulation Market by Civil Aviation, 2022 - 2028 (USD Billion)
    • 6.4 Education
      • 6.4.1 Global Virtual Training and Simulation Market by Education, 2022 - 2028 (USD Billion)
    • 6.5 E-Learning
      • 6.5.1 Global Virtual Training and Simulation Market by E-Learning, 2022 - 2028 (USD Billion)
    • 6.6 Game-based learning
      • 6.6.1 Global Virtual Training and Simulation Market by Game-based learning, 2022 - 2028 (USD Billion)
    • 6.7 Entertainment
      • 6.7.1 Global Virtual Training and Simulation Market by Entertainment, 2022 - 2028 (USD Billion)
  • Chapter 7. Virtual Training and Simulation Market - Regional Analysis
    • 7.1 Global Virtual Training and Simulation Market Regional Overview
    • 7.2 Global Virtual Training and Simulation Market Share, by Region, 2021 & 2028 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
        • 7.3.1.1 North America Virtual Training and Simulation Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 North America Virtual Training and Simulation Market, by Component, 2022 - 2028
      • 7.4.1 North America Virtual Training and Simulation Market, by Component, 2022 - 2028 (USD Billion)
    • 7.5 North America Virtual Training and Simulation Market, by End User, 2022 - 2028
      • 7.5.1 North America Virtual Training and Simulation Market, by End User, 2022 - 2028 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
        • 7.4.2.1 Europe Virtual Training and Simulation Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Europe Virtual Training and Simulation Market, by Component, 2022 - 2028
      • 7.4.1 Europe Virtual Training and Simulation Market, by Component, 2022 - 2028 (USD Billion)
    • 7.5 Europe Virtual Training and Simulation Market, by End User, 2022 - 2028
      • 7.5.1 Europe Virtual Training and Simulation Market, by End User, 2022 - 2028 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
        • 7.5.3.1 Asia Pacific Virtual Training and Simulation Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Asia Pacific Virtual Training and Simulation Market, by Component, 2022 - 2028
      • 7.4.1 Asia Pacific Virtual Training and Simulation Market, by Component, 2022 - 2028 (USD Billion)
    • 7.5 Asia Pacific Virtual Training and Simulation Market, by End User, 2022 - 2028
      • 7.5.1 Asia Pacific Virtual Training and Simulation Market, by End User, 2022 - 2028 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
        • 7.6.4.1 Latin America Virtual Training and Simulation Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Latin America Virtual Training and Simulation Market, by Component, 2022 - 2028
      • 7.4.1 Latin America Virtual Training and Simulation Market, by Component, 2022 - 2028 (USD Billion)
    • 7.5 Latin America Virtual Training and Simulation Market, by End User, 2022 - 2028
      • 7.5.1 Latin America Virtual Training and Simulation Market, by End User, 2022 - 2028 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Virtual Training and Simulation Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 The Middle-East and Africa Virtual Training and Simulation Market, by Component, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Virtual Training and Simulation Market, by Component, 2022 - 2028 (USD Billion)
    • 7.5 The Middle-East and Africa Virtual Training and Simulation Market, by End User, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Virtual Training and Simulation Market, by End User, 2022 - 2028 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 The Disti Corporation
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Qinetiq Group Plc.
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 On24 Inc.
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Laerdal Medical Corporation
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 L-3 Link Simulation Training
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Kratos Defense Security Solutions Inc.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Cubic Corporation
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 CAE Inc.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Bae System Plc.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Ansys Inc.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Virtual Training and Simulation Market attractiveness, By Component
  • 6. Global Virtual Training and Simulation Market attractiveness, By End User
  • 7. Global Virtual Training and Simulation Market share by Component, 2022 and 2028 (USD Billion)
  • 8. Global Virtual Training and Simulation Market by Hardware, 2022 - 2028 (USD Billion)
  • 9. Global Virtual Training and Simulation Market by Software, 2022 - 2028 (USD Billion)
  • 10. Global Virtual Training and Simulation Market share by End User, 2022 and 2028 (USD Billion)
  • 11. Global Virtual Training and Simulation Market by Defense & Security, 2022 - 2028 (USD Billion)
  • 12. Global Virtual Training and Simulation Market by Civil Aviation, 2022 - 2028 (USD Billion)
  • 13. Global Virtual Training and Simulation Market by Education, 2022 - 2028 (USD Billion)
  • 14. Global Virtual Training and Simulation Market by E-Learning, 2022 - 2028 (USD Billion)
  • 15. Global Virtual Training and Simulation Market by Game-based learning, 2022 - 2028 (USD Billion)
  • 16. Global Virtual Training and Simulation Market by Entertainment, 2022 - 2028 (USD Billion)
  • 17. Global Virtual Training and Simulation Market share, by Region, 2022 and 2028
  • 18. North America Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
  • 19. Europe Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
  • 20. Asia Pacific Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
  • 21. Latin America Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)
  • 22. The Middle-East and Africa Virtual Training and Simulation Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Virtual Training and Simulation Market: Snapshot
  • 2. Drivers of the Virtual Training and Simulation Market: impact analysis
  • 3. North America Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 4. North America Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 5. U.S. Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 6. U.S. Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 7. Canada Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 8. Canada Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 9. Europe Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 10. Europe Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 11. Germany Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 12. Germany Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 13. France Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 14. France Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 15. U.K. Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 16. U.K. Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 17. Italy Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 18. Italy Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 19. Spain Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 20. Spain Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 21. Rest of Europe Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 22. Rest of Europe Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 23. Asia Pacific Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 25. China Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 26. China Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 27. Japan Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 28. Japan Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 29. India Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 30. India Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 31. South Korea Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 32. South Korea Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 33. South-East Asia Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 34. South-East Asia Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 35. Rest of Asia Pacific Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 36. Rest of Asia Pacific Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 37. Latin America Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 38. Latin America Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 39. Brazil Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 40. Brazil Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 41. Mexico Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 42. Mexico Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 43. Rest of Latin America Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 44. Rest of Latin America Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 45. The Middle-East and Africa Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 46. The Middle-East and Africa Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 47. GCC Countries Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 48. GCC Countries Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 49. South Africa Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 50. South Africa Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 51. Rest of Middle-East Africa Virtual Training and Simulation Market revenue, By Component, 2022 - 2028 (USD Billion)
  • 52. Rest of Middle-East Africa Virtual Training and Simulation Market revenue, By End User, 2022 - 2028 (USD Billion)

Methodology

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FrequentlyAsked Questions

The demand for virtual reality services has significantly grown to manifolds in recent years due to the developments in technology. The increasing integration of virtual reality technology in virtual training is attracting leaders and learners to adopt virtual training institutes.

The global virtual training and simulation market is valued at $270.5 billion in 2021 and is projected to reach $698 billion in 2028. The market is likely to grow with a healthy CAGR of 13.7% during the forecast years.

 

Some of the significant players in the global virtual training and simulation market include The Disti Corporation, Qinetiq Group Plc., On24 Inc., Laerdal Medical Corporation, L-3 Link Simulation Training, Kratos Defense Security Solutions Inc., Cubic Corporation, CAE Inc., Bae System Plc., and Ansys Inc.

Asia Pacific accounts for the largest share in the global virtual training and simulation market due to the fast proliferation of end-user sectors like educational, healthcare, and defense. Additionally, the growing investment by both the government and the private organizations to develop the global market is further likely to contribute towards the regional market growth.

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