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The Asia Pacific Virtual Training and Simulation market Size is anticipated to experience a growth rate of 20.3% CAGR during the forecast period.
Virtual training is a simulated virtual environment which is created to assess the capabilities of trainees to select the right resource. The virtual training simulation is of two kinds, namely instructor-led training and non-instructor-supported training. Simulation, by definition is a process of imitation of an operation of a real world system or a process. Higher defense, education & healthcare expenditures, rising awareness about the virtual training technology, and cost-effectiveness for various industries are the major factors driving the market growth.
Major market leaders are working on developing novel solutions by heavily investing on R&D. New market opportunities are explored by expanding the market presence with strategies such as partnerships, collaborations, and other strategic alliances. More compact and cost-effective simulators are developed by leading market players that can elevate the quality of virtual environment much like the real world situation. The Asia-Pacific virtual training and simulation market is segmented based on components, end user, and country.
The components segment is further sub-segmented into hardware and software. Based on end users, the market is segmented into defense & security, civil aviation, education, entertainment, and others. The education segment is further bifurcated into e-learning and game-based learning. Based on Country, Asia-Pacific Virtual Training and Simulation market is segmented into China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific.
China remained the dominant Country in the Asia-Pacific Virtual Training and Simulation market in 2015. Japan and India would witness high growth during the forecast period (2016-2022). The report covers the analysis of key stake holders of the Virtual Training and Simulation market. Key companies profiled in the report include BAE Systems, CAE Inc., L-3 Link Simulation & Training, Cubic Corporation., ON24, Inc., QinetiQ Group plc. , ANSYS, Inc. and Kratos Defense & Security Solutions, Inc.