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According to a new report North America Virtual Training & Simulation Market (2016-2022), published by KBV Research, the North America Virtual Training & Simulation market is expected to attain a market size of $98.9 billion by 2022, growing at a CAGR of 14.7% during the forecast period.
Among the regions, the North American region would be the dominant region employing the virtual training and simulation tools, and it is expected to witness tremendous growth during the forecast period. Presence of large companies, ample technology providers, and faster adoption of the technology is largely responsible for the growth in the region.
Hardware components include headsets, combat tools, hand gloves, hearing aids, mannequins, gaming consoles, and others. The software components would include programs or set of instructions that are used to perform the activities in the system.
The Entertainment market dominated the North America Virtual Training and Simulation Market by End User in 2015, and would continue to be a dominant market till 2022; growing at a CAGR of 13.5% during the forecast period. The Defence and security market is expected to witness a CAGR of 13.1% during (2016 - 2022).
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across countries in North America region. The key influencing factors of the North America Virtual Training & Simulation market have been discussed in the report along with the elaborated company profiles of BAE Systems, CAE Inc., L-3 Link Simulation & Training, Cubic Corporation., ON24, Inc., QinetiQ Group plc. , ANSYS, Inc. and Kratos Defense & Security Solutions, Inc.