Immersive Simulator Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025


#7671

Transparency Market Research

$ 5795

An immersive simulator is a device that can produce suspension of disbelief or a state of being deeply engaged among people. By making use of immersive technology, these simulators can blur the line between physical and the real world. Such technology is used intensively in training in industries such as medical, and oil & gas among many others as it is superior to on-field training and provides a collaborative training ecosystem.

There are many factors that are driving the global immersive simulator market. Their growing usage application, particularly in the medical industry, is expected to be a major driver of growth for the market. Such simulators also mitigate risk in the oil & gas sector through faster knowledge transfer and training in immersive simulators, thereby driving the market.

There are, however, some factors that are hampering the market’s growth. Among immersive simulators, the lack of integration and interoperability presents the problem of non-compatibility related to hardware, software, or services.  This factor is expected to be a major restraint to the market’s growth. The low adoption and acceptance rate arising from lack of awareness is also expected to hinder the market’s growth.

The global immersive simulator market can be segmented on the basis of simulation environment, offering, application, industry, and geography. On the basis of simulation environment, the market can be segmented into field operator training and console operator training. On the basis of offering, the market can be segmented into software & services and hardware. Based on offering, the software & services sub-segment is expected to hold a major share of the market. Software provides real time communication which increases the efficiency in operations. Moreover, the growing capital expenditure smart manufacturing is also expected to propel the market. On the basis of application, the market can be classified into product development, training, and emergency services. On the basis of industry, the market can be segmented into oil & gas, metals & mining, power & energy, medical & biotech, aerospace & defense, automotive & marine, chemicals, water & wastewater, pulp & paper, food & beverages and others (cement and textile, education, tourism, and entertainment). Based on industry, medical & biotech sub-segment is expected to expand at a prominent rate during the forecast period. This is due to the crucial role immersive simulators play as this technology improves the inter-professional and cognitive skills, which are essential in medical practices.

On the basis of geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold a major share of the total market owing to the presence of key market players and increasing R&D expenditure on the development of technology. The region is expected to be driven by countries such as the United States and Canada due to their early adoption of immersive simulators. Europe, primarily driven by developed and high income European Union economies is expected to follow North America region in terms of market share. Asia Pacific region is expected to expand at a prominent rate. Growing demand for immersive simulators arising from oil & gas, aerospace & defense, and medical & biotech industries is primarily driving growth in the region. The immersive simulation technology in the region is anticipated to present strong business opportunities and bolster business relationships. Middle East & Africa, and South America, with growing awareness about immersive simulators are expected to hold a small share of the total market.

Major players in the global immersive simulator market are Applied Research Associate Inc., Aveva Group Plc, ESI Group, Immerse Learning, Schneider Electric SE, Siemens AG, Designing Digitally, Inc., Mass Virtual Inc., Samahnzi (PTY) Ltd., and Talent Swarm.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.