April 07, 2020
As per the report titled ‘Operator Training Simulator Market Size By Component, By Simulation Environment, By End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global operator training simulator market is expected to cross USD 20 billion by the year 2025.
Ongoing technological advancements and increasing demand for skilled personnel is driving the growth of operator training simulator market. These products assist in training the workforce with accurate simulation models of the plant along with an in-depth knowledge to minimize the chances of hazardous accidents and other risks. This factor coupled with benefits such as improved productivity and profitability are augmenting the product demand across various industry verticals.
Based on the simulation environment, operator training simulator market is categorized as console operator training and field operator training. These market segments are expected to record substantial growth in the coming years on account of widespread product usage in large-scale projects to ensure the safety of field operator and control room operator. Increasing adoption of virtual reality integrated operator training simulators (VR-OTS) for effective training by providing 3D virtual projection of the entire plant and enabling personnel to work on real-life scenarios, will further enhance the business outlook in the years to come.
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Speaking of the end-use spectrum, market share from healthcare segment is presumed to grow significantly in the coming years, on account of rising adoption of computer based-training solutions. These simulators provide a comprehensive and practical training without any risk, hence delivering instantaneous data regarding errors and complications during practice sessions. They offer a customized learner-centered experience, thereby positively impacting the market outlook.
Considering the geographical outlook, operator training simulator market in Asia Pacific is slated to grow momentously during the analysis period, owing to high demand for skilled professionals in tandem with increasing penetration of virtual training across various industries such as aerospace & defense, mining, oil & gas, chemical, and healthcare. Surging adoption of advanced technologies including IoT and automation processes in emerging economies such as India, China, Japan, Singapore, and Indonesia, coupled with growing focus to ensure worker safety are supporting the regional growth.
Major players of operator training simulator market are FLSmidth & Co. A/S, ABB Group, Immerse Learning, Honeywell International, Inc., Applied Research Associate, Inc., Schneider Electric SE, and Siemens AG among others.
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