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Virtual Training and Simulation Market by Component and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027

  • ID: 5118775
  • Report
  • April 2020
  • Region: Global
  • 234 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • ANSYS Inc.
  • BAE systems PLC
  • CAE Inc.
  • Cubic Corporation
  • DiSTI Corporation
  • ON24 Inc.
  • MORE
The virtual training and simulation market size was valued at $204.41 billion in 2019, and is projected to reach $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 regarding virtual training and simulation positively drives the virtual training and simulation market 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 significantly boost the growth of the virtual training and simulation market 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 simulation industry 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 established themselves with continuous investment on product innovation, which has enabled them to improve the quality, capability, and performance of the training and simulation solutions. Further, these companies have expanded their virtual training and simulation market opportunities presence through strategic alliances and are working toward launching upgraded products in the market to gain maximum market share as well as to deliver better benefits to the stakeholders.

Segment review

The virtual training and simulation market is segmented on the basis of component, end user, and region. By component, it is categorized into hardware 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 simulation market analysis include ANSYS, 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.

Top impacting factors

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 regions such 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 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.

KEY BENEFITS FOR STAKEHOLDERS
  • This study includes the virtual training and simulation market trends, opportunity, analysis, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities of the virtual training and simulation industry.
  • The virtual training and simulation market share is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the virtual training and simulation market.
KEY MARKET SEGMENTS

By Component
  • Hardware
  • Software
By End User
  • Defense & Security
  • Civil Aviation
  • Education
  • Entertainment
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
KEY MARKET PLAYERS
  • ANSYS, 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.
  • Saab AB
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ANSYS Inc.
  • BAE systems PLC
  • CAE Inc.
  • Cubic Corporation
  • DiSTI Corporation
  • ON24 Inc.
  • MORE
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
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ANSYS Inc.
  • BAE systems PLC
  • CAE Inc.
  • Cubic Corporation
  • DiSTI Corporation
  • ON24 Inc.
  • MORE
According to the report titled, 'Virtual Training and Simulation Market by Component and End User: Opportunity Analysis and Industry Forecast, 2019-2026', the virtual training and simulation market size was valued at $204.41 billion in 2019, and is projected to reach $579.44 billion by 2027, growing at a CAGR of 13.4% from 2020 to 2027.

The global virtual training and simulation market is in its growing phase, having significant acceptance in almost every major region. In this report, the market is studied on the basis of its components, end users, and region. The top impacting factors identified in the market growth includes rising awareness regardingsimulation technology; cost-effectiveness of virtual training and simulation;and increase in defense, healthcare, and education expenditure. In the prevailing business scenario, the demand for advanced and efficient virtual training and simulation tools is on a continuous rise. On the other hand, resistance to adopt this technology and lack of investments in R&D are anticipated to hinder the market pace.

Currently, North America represents the highest share in the globalvirtual training and simulation market, whereas the Asia-Pacific market is expected to grow at the fastest rate during the forecast period. Further, innovation in technology, falling prices of virtual training & simulation products, widening scope of the technology in various end users, and rising internet usage increased the adoption of virtual training and simulation.

The report highlights the Porter’s five forces analysis for the market comprising R&D, componentmanufacturers, assembly, programming & testing department, marketing & sales, end users, and after sales services. The presence of established market players and high switching costs lead to the moderate bargaining power for suppliers. Further, high brand loyalty, high product differentiation, and high initial investments limit the threat from new entrants.

The value chain analysis provides a systematic study of the key intermediaries involved in the final product manufacturing. Thevalue chain includes R&D, componentmanufacturers, assembly, programming & testing facilities, marketing & sales, customers, and post-sales services. This analysis helps the stakeholders devise appropriate strategies and develop their businesses accordingly. The virtual training and simulation markettrends study also focuses on the growth of the market segments based on components, end users, and region. Based on components, the market is divided into software and hardware. By end users, it is classified into civil aviation, defense & security, education, entertainment, digital manufacturing, and healthcare.

Key Findings Of The Study

By component, the hardware segment dominated the virtual training and simulation market forecast. However, the software segment is expected to exhibit significant growth during the forecast period in the virtual training and simulation industry.
Depending on end user, theentertainmentindustry generated the highest virtual training and simulationmarket sharein 2019. However, the educationsector is expected to witness a considerable growth in the near future.
Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the coming years. Moreover, the North America market dominated the virtual training and simulation market in 2019 in terms of revenue.

Some of the key market players profiled in the virtual training and simulationmarket analysisincludeCAE Inc., L-3 Link Simulation & Training, Cubic Corporation, ON24, Inc., BAE systems PLC, Kratos Defence & Security Solutions, Inc., DiSTI Corporation, ANSYS, Inc., SaaB AB, and Lockheed Martin Corporation. Major players operating in this market have witnessed significant adoption of strategies that includebusiness expansion and partnership to reduce supply and demand gap. Further, these players are anticipated to invest more in R&D activities to provide more compact and cost-effective solutions for numerous applications. In addition, the leading vendors are expected to target industries such as transportation, energy, and mining, where adoption of virtual training and simulation technology is low as compared to other end users.
Note: Product cover images may vary from those shown
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  • CAE Inc.
  • L-3 Link Simulation & Training
  • Cubic Corporation
  • ON24 Inc.
  • BAE systems PLC
  • Kratos Defence & Security Solutions Inc.
  • DiSTI Corporation
  • ANSYS Inc.
  • SaaB AB
  • Lockheed Martin Corporation
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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