According to the new market research report "Immersive
Simulator Market by Simulation Environment (Console Operator, Field
Operator), Offering (Hardware, Software & Services), Application (Training,
Product Development, Emergency Services), Industry, and Geography - Global
Forecast to 2022", published by MarketsandMarkets, the market is
estimated to reach USD
11.44 Billion by 2022, at a CAGR of 35.13% between 2016 and
2022.
The growth of this market is majorly driven by the
increasing applications in the medical industry, risk mitigation in oil and gas
industries through training in immersive simulator, and ability to transfer
knowledge quickly through training in immersive simulators.
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Immersive simulator
market in in medical and biotech industry to grow at the highest CAGR between
2016 and 2022
The immersive simulator market for the medical and
biotech industry is expected to grow at the highest CAGR 2016 and 2022. Medical
practices require a wide range of cognitive and inter-professional skills to
work in stressful environments. The introduction of immersive simulators in
intensive training would help the surgeons to master techniques and achieve
surgical expertise. Along with the development of elementary skills, immersive
virtual environments are being used for training medical personnel to respond
to medical emergencies.
Software and
services to hold the largest share of the immersive simulator market for
offering
The large market share of the software and services
of immersive simulators is attributed to the increasing capital expenditure on
smart manufacturing. Software enables real-time communication in a faster and
efficient way. The increasing requirements for data analysis and performance
tracking for accuracy and efficient training in various verticals further drive
the market growth.
Asia-Pacific expected
to dominate the immersive simulator market between 2016 and 2022
The immersive simulator market in APAC held the
largest market share in 2015 owing to the huge demand for immersive simulators
in metal and mining, oil and gas, aerospace and defense, and medical and
biotech industries. Australia has
added the functional use of immersive simulator in metal and mining industry,
while China, Japan, and India have
contributed to the market growth in the aerospace and defense as well as
medical and biotech industries.
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The major players in the
immersive simulator market are Applied Research Associate Inc., (U.S.), Aveva
Group Plc, (U.K.), ESI Group (France),
Immerse Learning, (U.S.), Schneider Electric SE (France), and Siemens AG (Germany).
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