PUNE, India, November 21, 2016 /PRNewswire/ --
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.
Browse 43 market data Tables and 61 Figures spread through 143 Pages and in-depth TOC on "Immersive Simulator Market"
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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.
"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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