The market will accumulate a sum of $329 billion by 2022. A compound annual growth rate of 14.6% is registered in the forecast period.
Portland, OR -- (SBWIRE) -- 07/25/2017 -- The market owes its growth to applications in the field of healthcare, transportation, e-learning, military & navy, digital manufacturing. Components of hardware and software have been contributing as well.
The extensive study seeks to give a detailed insight on the key benefits, key market segments, and the research methodology that was undertaken to formulate the report. The market overview consists of topics such as market definition and scope, key findings, value chain analysis, Porters Five Force Analysis, drivers, opportunities, and restraints. The key findings point out the winning strategies, the impacting factors, and investment pockets. The Porters Five Force Analysis discusses market integration, bargaining power of buyers and suppliers, the intensity of competition, and threat levels from substitutes and new entrants.
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Increasing awareness about virtual training, cost-effective benefits of virtual training solutions, and generous expenditure from segments of defense, healthcare and education have been identified as the drivers.
Lack of investment in research and development and resistance in adopting the virtual training technology can be observed as the market restraints. However, there is an opportunity in terms of technological upgrades, and scope of utilizing this solution in the industries of mining, transportation, and energy.
The research divides the market into software and hardware components. Topics such as market trends, growth factors and opportunities, and market size and forecast have been formulated for each of the component sections. The study gives a descriptive information about the market trends, market size, and opportunities for each of the end-users. This will enable industry players to harness the untapped potential of this segment.
Geographical areas focused for this particular segment are North-America, Europe, Asia-Pacific, LAMEA. North America is currently leading in the segment of virtual training and simulation due to their aggressive technological strategies and advancements. The regions have already implemented this technology in areas of military, gaming, civil aviation, healthcare, and education.
The key players profiled in this report are CAE Inc., L-3 Link Simulation & Training, Cubic Corporation, ON24 Inc., QinetiQ Group Plc, BAE Systems Plc, Laerdal Medical Corporation, Kratos Defense & Security Solutions Inc., The DiSTI Corporation, ANSYS Inc. the report mentions the company overview, their financial hold on the market, along with their business performance, and strategic development and latest upgrades.
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