Virtual simulation and training market worth $ 628.62

Jersey City, New Jersey, July 19, 2021 (GLOBE NEWSWIRE): Verified Market Research recently published a report:Virtual training and simulation market“By components (hardware and software), by application (flight simulation, battlefield simulation and defense, medical training, vehicle simulation) and by geography. According to a verified market research, the global training and virtual simulation market it was valued at $ 262.36 million in 2020 and is projected to reach $ 628.62 million in 2028, growing at a CAGR of 13.30% from 2021 to 2028.

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Overview of the global training and virtual simulation market

Advances in virtual reality (VR) technology are one of the major drivers of the market due to various developments in VR technology, the demand for virtual reality services has increased. The incorporation of VR technology into virtual training has also motivated many researchers and students to enroll in virtual training institutions or academies to be trained according to industry standards.

ELearning is used for the professional growth of 77% of U.S. businesses and 85% of students and learners who have experienced virtual and live classrooms who feel that online learning is better or as good as the ‘traditional classroom environment. In addition, current virtual training simulators include methods of recognizing human action, which provide a student with an engaging and immersive environment. These factors are fueling the growth of the virtual simulation and training industry.

Custom training solutions are widely used in a variety of industries, including defense, civil aviation, and healthcare, to train learners through real-time training modules. As a result, the growing demand for an efficient workforce in various industries to deal with difficult scenarios has increased the market demand for virtual simulation and training.

Main developments a Virtual training and simulation market

• In August 2019, Laerdal Medical made a breakthrough in service by offering customers access to a new library of procedures. Laerdal currently has over 60 videos addressing our service department’s most frequently asked questions. These films are available free of charge and are intended to help customers on request and at their disposal.

• In November 2020, Kratos launched the mixed-reality virtual reality Kratos multi-position virtual trainer, which features the latest immersive technologies and consists of a mixed-reality MP-AVET along with a mixed-reality mixed-game simulator ( GPS). ACMT increases the ability of the air crew to recognize and react to threats in immersive and simulated tactical situations.

The main market players are Ansys Inc., Bae System Plc., CAE Inc., Kratos Defense Security Solutions Inc., L-3 Link Simulation Training, Cubic Corporation, Laerdal Medical Corporation, On24 Inc., Qinetiq Group Plc. and The Distant Corporation.

Verified market research has segmented the global virtual simulation and training market based on components, applications, and geography.

  • Virtual training and simulation market by component
  • Virtual training and simulation market by application
    • Defense and security
    • Civil Aviation
    • Education
    • Entertainment
    • Others
  • Virtual market for training and simulation by geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • FILA
      • Middle East and Africa
      • Latin America

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