The virtual training and simulation market size was valued at USD 204.41 Billion in 2019, and is projected to reach USD 579.44 Billion by 2027, growing at a CAGR of 13.4% from 2020 to 2027.
Virtual training is a training method in which a simulated virtual environment is created to test certain abilities of a trainee that can contribute to the learning process. It is widely applicable in-flight simulation, simulation-based gaming, serious games, healthcare training, energy, transportation training, e-learning, military & navy, digital manufacturing, and others.
Rise in awareness regardingvirtual training and simulationpositively drives the virtual training and simulationmarket growth. This technology is utilized in various fields such as civil aviation, military, e-learning, serious gaming, simulation-based gaming, entertainment, digital manufacturing, and healthcare due to its advantages such as ease of handling and understanding, offers virtual environment as close as real one, and efficiency of training.
Over the past few years, increase in defense, healthcare, and education expenditure has been observed, especially in Asia-Pacific, LAMEA, and European countries; this is expected to significantlyboost the growth of the virtual training and simulationmarket during the forecast period. With an increase in expenditure, the number of sales of related equipment in these sectors is expected to increase, including for virtual training and simulation equipment.
Virtual training and simulation is majorly used in industries such as defense & security, civil aviation, healthcare, digital manufacturing, education, and entertainment. In addition, it finds applications in other industries such as mining, energy, and transportation. In these industries, training can be made effective for respected crew members at minimum costs and without compromising any human life.
The report focuses on the growth prospects, restraints, and market analysis. The study provides Porter’s five forces analysis of the virtual training and simulationindustry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the market.
Over the years, these market leaders have establishedthemselves with continuous investment on product innovation, which has enabled them toimprove the quality, capability, and performance of the training and simulation solutions.Further, these companies have expanded their virtual training and simulationmarket opportunities presence through strategic alliancesand are working toward launching upgraded products in the market to gain maximummarket share as well as to deliver better benefits to the stakeholders.
The virtual training and simulation market is segmented on the basis of component, end user, and region. By component, it is categorized intohardware and software. Depending on end user, it is categorized into defense & security, civil aviation, education, entertainment, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the virtual training and simulationmarket analysis includeANSYS, Inc., BAE Systems, CAE Inc., Cubic Corporation, The DiSTI Corporation, Kratos Defence & Security Solutions, Inc., L-3 Link Simulation & Training, Lockheed Martin Corporation, ON24, Inc., and Saab AB.
The significant impacting factors include increase in awareness about virtual training and simulation; cost-effective benefits of virtual training and simulation technology; and rise in defense, healthcare, and education expenditure. In few regionssuch as Africa, people are willing to adopt the technology, but lack of infrastructure and availability of solutions resist them to do so. This negatively impacts the market. Moreover, absence of novelty in products may lead to loss of interest of consumers in outdated technology and would stick to the existing one, rather than buying another one. Thus, lack of investments in R&D is projected to impact negatively on the virtual training and simulation market.Advancements in virtual training and simulation technology positively affects the market growth and is expected to continue this in the near future.
Increase in awareness about virtual training and simulation
Virtual training and simulation have found scope in various industries such as civil aviation, defense & security, healthcare, digital manufacturing, education, and entertainment. Nowadays, individuals or organizations are taking advantage of either hardware or software or combination of both solutions to train professionals, students, crews, and other associated people in an efficient way with minimum efforts. According to a primary respondent, in the near future, awareness of simulation & virtual training and the importance of training in a situation similar to real life scenario will help people in different fields to understand/utilize & train in a better state of the art technology and to develop more advanced and even sophisticated systems.
Increase in defense, healthcare, and education expenditure
In Asia-Pacific, Europe, and LAMEA, defense, healthcare, and education expenditure has increased significantly, which indicates the rise in sales for related equipment including virtual training and simulation solutions. This increase in expenditure is due to rise in air traffic and commercial aircraft fleet and increase in number of Internet users and adoption of mobile phones. In addition, virtual training and simulation market forecasts growth due to technological advancements in healthcare and digital manufacturing, growth in penetration of serious gaming in education segment, and remarkable growth in e-learning market. This in turn further supplements the adoption of virtual training and simulation solutions.
CHAPTER 1:INTRODUCTION
1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS FOR STAKEHOLDERS
1.3.KEY MARKET SEGMENTS
1.4.KEY MARKET PLAYERS
1.5.RESEARCH METHODOLOGY
1.5.1.Secondary research
1.5.2.Primary research
1.5.3.Analyst tools & models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.KEY FINDINGS
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO PERSPECTIVE
CHAPTER 3:MARKET OVERVIEW
3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FORCES SHAPING THE GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
3.2.1.Moderate-to-high bargaining power of suppliers
3.2.2.Moderate-to-high bargaining power of buyer
3.2.3.Moderate-to-high threat of substitutes
3.2.4.Low-to-high threat of new entrants
3.2.5.Low-to-high competitive rivalry
3.3.VALUE CHAIN ANALYSIS
3.3.1.R&D
3.3.2.Component manufacturers
3.3.3.Assembly, programming, and testing
3.3.4.Marketing and sales
3.3.5.End user
3.3.6.After-sales services
3.4.MARKET DYNAMICS
3.4.1.Drivers
3.4.1.1.Increase in awareness about virtual training and simulation
3.4.1.2.Cost-effective benefits of virtual training and simulation solutions
3.4.1.3.Increase in defense, healthcare, and education expenditure
3.4.2.Restraints
3.4.2.1.Resistance to adopt the virtual training and simulation technology
3.4.3.Opportunities
3.4.3.1.Advancements in technology
3.4.3.2.Scope for improvements in other industries (mining, transportation, and energy)
3.5.INDUSTRY ROADMAP OF VIRTUAL TRAINING AND SIMULATION MARKET
3.6.IMPACT OF GOVERNMENT REGULATIONS ON THE GLOBAL VIRTUAL TRAINING AND SIMULATION MARKET
CHAPTER 4:VIRTUAL TRAINING AND SIMULATION MARKET, BY COMPONENT
4.1.OVERVIEW
4.2.HARDWARE
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.SOFTWARE
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country
CHAPTER 5:VIRTUAL TRAINING AND SIMULATION MARKET, BY END USER
5.1.OVERVIEW
5.2.DEFENSE & SECURITY
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.CIVIL AVIATION
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
5.4.EDUCATION
5.4.1.Key market trends, growth factors, and opportunities
5.4.1.1.e-Learning
5.4.1.1.1.Key market trends, growth factors, and opportunities
5.4.1.2.Game-based learning
5.4.1.2.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country
5.5.ENTERTAINMENT
5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country
5.6.OTHERS
5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country
CHAPTER 6:VIRTUAL TRAINING AND SIMULATION MARKET, BY REGION
6.1.OVERVIEW
6.1.1.Market size and forecast, by region
6.2.NORTH AMERICA
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by component
6.2.3.Market size and forecast, by end user
6.2.4.Market analysis, by country
6.2.4.1.U.S.
6.2.4.1.1.Market size and forecast, by component
6.2.4.1.2.Market size and forecast, by end user
6.2.4.2.Canada
6.2.4.2.1.Market size and forecast, by component
6.2.4.2.2.Market size and forecast, by end user
6.3.EUROPE
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by component
6.3.3.Market size and forecast, by end user
6.3.4.Market analysis, by country
6.3.4.1.Germany
6.3.4.1.1.Market size and forecast, by component
6.3.4.1.2.Market size and forecast, by end user
6.3.4.2.France
6.3.4.2.1.Market size and forecast, by component
6.3.4.2.2.Market size and forecast, by end user
6.3.4.3.UK
6.3.4.3.1.Market size and forecast, by component
6.3.4.3.2.Market size and forecast, by end user
6.3.4.4.Spain
6.3.4.4.1.Market size and forecast, by component
6.3.4.4.2.Market size and forecast, by end user
6.3.4.5.Italy
6.3.4.5.1.Market size and forecast, by component
6.3.4.5.2.Market size and forecast, by end user
6.3.4.6.Rest of Europe
6.3.4.6.1.Market size and forecast, by component
6.3.4.6.2.Market size and forecast, by end user
6.4.ASIA-PACIFIC
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by component
6.4.3.Market size and forecast, by end user
6.4.4.Market analysis, by country
6.4.4.1.Japan
6.4.4.1.1.Market size and forecast, by component
6.4.4.1.2.Market size and forecast, by end user
6.4.4.2.China
6.4.4.2.1.Market size and forecast, by component
6.4.4.2.2.Market size and forecast, by end user
6.4.4.3.India
6.4.4.3.1.Market size and forecast, by component
6.4.4.3.2.Market size and forecast, by end user
6.4.4.4.Rest of Asia-Pacific
6.4.4.4.1.Market size and forecast, by component
6.4.4.4.2.Market size and forecast, by end user
6.5.LAMEA
6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by component
6.5.3.Market size and forecast, by end user
6.5.4.Market analysis, by country
6.5.4.1.Latin America
6.5.4.1.1.Market size and forecast, by component
6.5.4.1.2.Market size and forecast, by end user
6.5.4.2.Middle East
6.5.4.2.1.Market size and forecast, by component
6.5.4.2.2.Market size and forecast, by end user
6.5.4.3.Africa
6.5.4.3.1.Market size and forecast, by component
6.5.4.3.2.Market size and forecast, by end user
CHAPTER 7:COMPETITIVE LANDSCAPE
7.1.KEY PLAYERS POSITIONING ANALYSIS, 2019
7.2.TOP WINNING STRATEGIES
7.3.COMPETITIVE DASHBOARD
7.4.KEY DEVELOPMENTS
7.4.1.Product launches
7.4.2.Partnership
7.4.3.Product development
7.4.4.Business expansion
7.4.5.Agreement
7.4.6.Collaboration
7.5.PATENT ANALYSIS
7.5.1.By region (2016-2019)
7.5.2.By applicant
7.6.CASE STUDIES
7.6.1.United States Air Force (USAF) awarded a P5 Combat Training System (P5CTS) contract to Cubic
CHAPTER 8:COMPANY PROFILE
8.1.ANSYS, INC.
8.1.1.Company overview
8.1.2.Key executives
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.R&D expenditure
8.1.6.Business performance
8.1.7.Key strategic moves and developments
8.2.BAE SYSTEMS
8.2.1.Company overview
8.2.2.Key executives
8.2.3.Company snapshot
8.2.4.Operating business segments
8.2.5.Product portfolio
8.2.6.R&D expenditure
8.2.7.Business performance
8.2.8.Key strategic moves and developments
8.3.CAE INC.
8.3.1.Company overview
8.3.2.Key executives
8.3.3.Company snapshot
8.3.4.Operating business segments
8.3.5.Product portfolio
8.3.6.R&D expenditure
8.3.7.Business performance
8.3.8.Key strategic moves and developments
8.4.CUBIC CORPORATION
8.4.1.Company overview
8.4.2.Key executives
8.4.3.Company snapshot
8.4.4.Operating business segments
8.4.5.Product portfolio
8.4.6.R&D expenditure
8.4.7.Business performance
8.4.8.Key strategic moves and developments
8.5.THE DISTI CORPORATION
8.5.1.Company overview
8.5.2.Key executives
8.5.3.Company snapshot
8.5.4.Product portfolio
8.5.5.Key strategic moves and developments
8.6.KRATOS DEFENSE & SECURITY SOLUTIONS, INC.
8.6.1.Company overview
8.6.2.Key executives
8.6.3.Company snapshot
8.6.4.Operating business segments
8.6.5.Product portfolio
8.6.6.R&D expenditure
8.6.7.Business performance
8.6.8.Key strategic moves and developments
8.7.1.Company overview
8.7.2.Key executives
8.7.3.Company snapshot
8.7.4.Product portfolio
8.7.5.Key strategic moves and developments
8.8.LOCKHEED MARTIN CORPORATION
8.8.1.Company overview
8.8.2.Key Executives
8.8.3.Company snapshot
8.8.4.Operating business segments
8.8.5.Product portfolio
8.8.6.R&D expenditure
8.8.7.Business performance
8.8.8.Key strategic moves and developments
8.9.ON24, INC.
8.9.1.Company overview
8.9.2.Key executives
8.9.3.Company snapshot
8.9.4.Product portfolio
8.10.SAAB AB
8.10.1.Company overview
8.10.2.Key Executives
8.10.3.Company snapshot
8.10.4.Operating business segments
8.10.5.Product portfolio
8.10.6.Business performance
8.10.7.Key strategic moves and developments
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