Industry Growth of Virtual Training Market is Projected to Rise by USD 6430 Million | Forecast to 2023
Global Virtual Training Market Report 2019 offers elaborated knowledge on the market parts like size, Key Regions, growth, trends, dominating firms, Major Manufactures. The Virtual Training report introduces market competition situation among the vendors, revenue, product & services, latest developments and business strategies.
Global Virtual Training Market Overview:
According to market analysts, Global Virtual Training Market is projected to grow at a high CAGR value from 2019 to 2023.
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with the slowdown in world economic growth, the Virtual Training industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Virtual Training market size to maintain the average annual growth rate of 11.59% from 21300 million $ in 2015 to 29600 million $ in 2018, Market analysts believe that in the next few years, Virtual Training market size will be further expanded, we expect that by 2023 , The market size of the Virtual Training will reach 6430 million $.
The key drivers for the growth of the virtual training market are rising awareness about the virtual training and simulation technology; its cost-effective benefits; and increased expenditure in education, healthcare, and defense sectors.
The supportive government initiates and increased spending on education sector rise in awareness about this technology, and increased number of Internet users are expected to drive significant growth in Asia-Pacific, which is projected to grow at the fastest CAGR during the forecast period.
Virtual Training refers to training done in a virtual or simulated environment, or when the learner and the instructor are in separate locations. Virtual training can be done synchronously or asynchronously. Virtual training and virtual training environments are designed to simulate the traditional classroom or learning experience.
The Virtual Training Market is segmented based on Components, End User and Regions. On the basis of component, the market is sub-segmented into Hardware and Software. Based on End User, the Virtual Training market has been segmented into Defense and Security, Military, Civil Aviation, Education, e-Learning, Game-Based Learning, Entertainment and Others.
Regionally, the global market for Virtual Training is estimated to grow at a significant rate during the forecast period from 2018 to 2023. North America is one of the developed and leading regions in the world and is aggressive in technological advancements and its adoption. A large number of manufacturers in North America are active in the development of simulation and virtual training technology.
Key players covered: L-3 Link Simulation & Training, CAE, Boeing, Thales, FlightSafety, Airbus, Lockheed Martin, BAE Systems, Raytheon, Cubic, Rheinmetall Defence, ANSYS, Saab, Elbit Systems, Rockwell Collins.
Industry News: General Services Administration Selects L3 for F-16 Pilot Training for the U.S. Air National Guard and U.S. Air Force Reserve Command
L3 Link Training & Simulation has been selected by the General Services Administration (GSA) to provide F-16 pilot training system support for the U.S. Air National Guard and U.S. Air Force Reserve Command to ensure mission readiness. The initial award has four additional option years.
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Key Regions:
1 North America Country (United States, Canada)
2 South America
3 Asia Country (China, Japan, India, Korea)
4 Europe Country (Germany, UK, France, Italy)
5 Other Country (Middle East, Africa, GCC)
This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical market data, revenue estimations are presented and forecasts from 2019 till 2023.
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